How Blockchain is Transforming our Lives and Digital Identities

Yael Rozencwajg
Aug 24, 2017 · 2 min read

Blockchain was originally conceived of as a ledger for financial transactions like using it to secure access to sensitive, personal informations, create cryptographs of secured lists of deposits and withdrawals in financial institutions.

How does it work?

Blockchain uses general data protection services and “public key cryptographic techniques” to create automatically chains of content. The data is never stored directly in the blockchain, ensuring “right to be forgotten” and the operator of the created chain cannot decrypt data by itself: this is what we call irreversibility (or transactional security).

For instance, just imagine a funnel with an entry gate and an exit one, followed by a multitude of chaincodes and interfaces.

At the entry you have a registration gate containing your personal data and basic account operations, like current balance, deposits, withdrawals and transfers. Thanks to data validation management systems we can manage data signatures and append-only actions, explore logs, control and optimize new methods to create copies (imagine a transmission system working on successive nodes) of the blockchain and distribute their peers within the network.

2017 ® Copyright Blockchain Israel — Bl0ckch21n — All rights reserved

The potential for blockchain to transform our lives is unlimited

Blockchain is a different construct, providing a universal set of tools for cryptographic assurance of data integrity, standardized auditing, and formalized “contracts” for data access.

It continues to be developed meanwhile we’re debating regarding its current format to remain as disinterested, nonprofitable. But commercial purposes and new uses are pushing regulations to tax disciplines. Thus, in order to develop private blockchain solutions on demand for enterprises and develop new values we’ll face new challenges soon.

It’s now time to unleash more of blockchain potentials to standardize secure value exchanges will bring new approaches, electronic records and methodologies in healthcare, life insurance, cryptocurrencies or even travel services.

An exceptional event hosted at Google Tel Aviv

The potential for blockchain technologies to open up new horizons for companies, businesses could help emerging markets leap ahead.

We are looking forward to defining what the industry can expect from digital assets by providing a clearer overview across the spectrum of infrastructures taking off.

This is our very first event about blockchain emerging solutions, taking place at Tel Aviv. All together we’d like to learn strategic implications and the challenges of implementing blockchain solutions in our organization.

Registration required: bit.ly/bl0ckch21n-mt

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