Before Blockchain / After Blockchain in business

Many engineers and editors has explained what Blockchain is or why Blockchain has huge impact on many industries.

I think all these are true but the word of “Distributed ledger” or “Decentralized database” shouldn’t be enough to explain what Blockchain exactly meaning, especially for business person.

Here is my suggestion for better understanding of Blockchain for any business person.

1. Can be moved, not copied

By utilizing Blockchain, digital things are transferable instead of making a copy.

Before Blockchain, we need to make a copy to send and exchange digital things like sending e-mail, uploading photos and download video to watch via VOD services. After Blockchain, digital value can be moved. So we are getting to enter the new era to exchange anything in cyber space like in physical world around us. We are thinking a new business model like rental digital media contents through person-to-person. It has never done before Blockchain.

2. Can be stored, not removed

Within Blockchain database, data can be inserted but never *deleted*. Once data are stored in Blockchain, that record are permanently stored in chained database.

It means all transaction are secured and verified by historical evidence. Before Blockchain, we need to make a backup of data, and we need to have tamper proof mechanism to protect against unexpected operation including hacking. After Blockchain, we need to take care of inserting any sensitive data into database and only thing to do for protecting data is to secure private key. We are thinking new business like secure key management service.

3. Sync automatically, not back-upped

Blockchain database are automatically synchronized via peer-to-peer network. It means millions of millions backups exist globally so we don’t need to have any backup by ourselves.

4. Secured by Cryptology, not by Infrastructure

Stored data are securely encrypted by cryptology under Blockchain database.

Before Blockchain, we need the infrastructure design and huge investment to setup environment such as secure network establishment by utilizing Firewall, Gateway, Access control capability and Data and transportation layer encryption technologies. After Blockchain, data is safe so we don’t need huge investment on setting up expensive infrastructure. We are assuming to reduce IT cost to setup database by using Blockchain.