How Blockchain Can Disrupt the Data Storage Industry

The current problem with data storage

Presently, data is one of the most useful assets in the world. The top global Internet companies — such as Facebook, Alphabet (Google), Amazon, and Apple — rely on users’ data to boost their brand success.

Here comes the blockchain technology

Essentially, a blockchain refers to a decentralized ledger technology that allows for transactions between two parties to be completed securely, efficiently, and verifiably.

How decentralized data storage could work

Although implementing a blockchain-based storage solution is not immune to problems, decades-mature technologies could be integrated to attain the benefits of decentralization.

Some companies leading the way

Some brave companies are already breaking the ground in adopting the use of blockchain technology to ensure the future of data storage is decentralized.

  • Genaro: It is using the innovative blockchain technology to redefine data storage through creating secure and decentralized solutions.
  • InterPlanetary File System) IPFS : It is a peer-to-peer filesharing technology that aims to make sharing of data efficient, convenient, and open.

Wrapping up

The blockchain technology is capable of revamping the data storage industry. It’s only a matter of time before we can say goodbye to the big centralized oligopolies that have failed to enable us make the most of our data.



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