We are all familiar with Google and how it has taken over the web. From online communication to business transactions and authentication, the major search engines keep a record of such processes, which increases privacy risk and unnecessary third-party involvement. The introduction of a blockchain aims to make the process of online transactions easier, efficient and safe. The blockchain can record different forms of cryptocurrency, such as Bitcoin, but it can also allow users to record all sorts of data, activities, and contracts. This innovative technology is going to revolutionize the Internet and lead to more secure and private web communication.
A blockchain is a type of ledger technology that permanently records data and transactions in a distributed and decentralized manner. The information stored in a blockchain cannot be eliminated, but only updated in sequences. There is no single controlling party because the blockchain is fuelled by a large community of people who simultaneously contribute to the collective data and participate in its operation. This innovative approach to transacting has gained much attention for its exceptional application and functionality.
A good example of how blockchain can revolutionize our world is online payments and transactions. Traditionally, third parties such as credit providers are involved in these transactions to keep track of money spent. The use of the blockchain can remove the third party because the process involves a community of people who monitor all the transactions. The greater the number of people assessing these transactions, the more secure the system becomes. The way the data is stored, encrypted and collected makes this technology safer than traditional web apps.
We, at BitClave, are developing an innovative blockchain-based ecosystem that will transform the way businesses and customers interact. Our purpose is to employ the latest advances in the blockchain technology to make the Internet more accessible, flexible, functional, private, and less monopolized. If you are interested and want to contribute and benefit from the blockchain ecosystem, please reach out to BitClave and we will teach you all you want and need to know!
