How A Leading Cyber Security Company Uses Blockchain Technology To Prevent Data Tampering

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Content source

https://www.forbes.com/sites/rachelwolfson/2018/07/03/how-a-leading-cyber-security-company-uses-blockchain-technology-to-prevent-data-tampering/#a494ea24529a

From Racheal Wolfson, Forbes contributor

"Authenticity of data is actually one of the most important factors when it comes to cyber protection. Data can always be changed and modified, Serguei Beloussov, CEO and founder of Acronis, told me. Blockchain technology can be used so that data can be signed with a digital signature. That digital signature, called hash, can then be stored on either a public or private blockchain ledger, which is highly immutable, making its possible to check if data was modified at any given time"​

How Blockchain Technology Protects User Data

While blockchain technology is most commonly defined as a decentralized, distributed ledger used to record transactions across multiple computers, it can also be seen as a distributed database that maintains a growing list (also known as a chain) of data transaction records.

Full Story: How A Leading Cyber Security Company Uses Blockchain Technology To Prevent Data Tampering

 

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The future is not cryptocurrencies such as Bitcoin. Actually, the future of cryptos as general currency like U.S. dollars is not certain. They are actually special-use currency and all special-use currencies that have been tried in history have ultimately failed. Besides, their blockchains are full of problems. Look 5 to 10 years into the future before things start to change.

Public blockchains require the payment of fees - usually with a cryptocurrency. And companies don't want to deal with buying a crypto for X dollars at 12:00 only to find that at 12:15 what they purchased is worth 15 % less. Cryptos are not a stable store of value. Think of the blockchain fees as "server" costs.

The future is private blockchains and the use of blockchain technology for purposes other than cryptos. Private blockchains do not require use of cryptos but do cost to develop and get running.

The companies that will leverage hardware and softs to make privatized blockchains, innovate the blockchain technology, etc - those will be the real winners.