Blockchain technology is providing new solutions for many of the new issues that have arisen as a result of the digital age that is upon us. Users these days are demanding safe and secure services when it comes to their data. This is something that blockchain can help with and work to bring trust back to users.
Blockchain changes how data is both accessed and stored. Data is kept on a shared database, but since this database in immutable, hackers can’t mess it up. Major companies are either already using blockchain or experimenting with it, all in an attempt to make things run efficiently and secure the trust of their users.
There are three types of blockchain: public, private, and consortium.
Public blockchains offer the best transparency but often are more expensive to operate. Private blockchains are often used by private companies as they are able to limit access and decide who is able to contribute additional information to the chain. Consortium blockchains run under the auspices of several businesses.
The growing Internet of Things (IoT) is making blockchain all the more needed. What we see now are more and more devices that are using the Internet to serve people. Whether it’s a smartphone, Smart TV, or even a refrigerator, the Internet is just about everywhere these days and security guarantees are needed like never before.
Ads and targeting data have created new problems for trust between consumers and the services they use. Blockchain has the potential to change all of this and it is something that companies are aware of and ready to utilize.
IDM offers blockchain-based cloud storage solutions. Keeping data safe with post-quantum protection provided by SIZE technology is what this platform is all about. To find out more, visit www.myidm.io.
Sources: IT Pro Portal, iapp, Tech Crunch, True Influence