Well, the full potential of Blockchain is still to be realised, yet all organisations embrace its value and unleash its capacity for innovation. Why?
Trust over the internet-
Ever wondered why the voting mechanism cannot be done online instead of the traditional hype of EVM?
While the responsibility of reliability lies on fast figures with the illusion of Stronger Passwords, Multifactor Auth and Biometrics, and on the big heads with firewalls, intrusion detection systems, digital certificates and captures still the business systems and databases can be compromised. Assets, information and identities are corrupted or mutated.
Without more rigorous online tools to increase trust and reduce risk, innovation will be impacted and at the worst, held back from meaningful progress!
What does the civilisation want?
- Ironclad convenient online voting that people could trust and use,
- Workable long-term digital currencies,
- Automated software that securely negotiates with each other AIs,
- Improved and seamless methods to authenticate identity and more
To achieve all these, we need a more secure and trustworthy internet with novel security and trust mechanism in its fundamentalism. Wait…will that be the distributed ledger(or what we call Blockchain these days)?
Achievements of Blockchain
The notion of trustless architecture where ‘trust’ will be a feature of software code snippets and not human intervention has been its key-driving factor ever since its inception.
- These core qualities have made it valuable in a large number of contexts,
- Blockchain embedded crypto currency to function in a trusted manner.
And the fun part is that it's a big idea that works!