How does Blockchain add value to Capital Technologies and research project

The first question one should ask is, what is Blockchain?

The first question one should ask is, what is Blockchain ?

One cannot understand the importance or rather benefits of Blockchain if there is no clue of what it entails. This is a technology that has been used in the crypto market for sometimes now, it is a system which is technically designed to store transaction data in a safe place where only the involved party can view for verification. Blockchain offers transparency to the user making it clear that there is no room for fraud or theft, not forgetting that it is not governed by a third party. Blockchain can either be private or public, being pioneered by bitcoin, Blockchain is increasing its fame each day.

Why do companies prefer using Blockchain? According to research, it shows that Blockchain is increasing its users every day, this is because it is authenticated and secure too. The technology has adopted a digital mechanism used to create and execute transactions made. With such a process there is less fraud where transparency is offered building trust among both users involved in the transaction. It is not a long time ago since Blockchain technology was released and brought in to implementation, with that less period, it seems the companies have already read the sign of its success in the future. Developers are preferring decentralized systems rather than centralized that come along with so many disadvantages. The following are ways that Blockchain is applied in the capital technologies and research;

Identity management

Authenticating a user’s identity has become very easy across various applications, organizations, and devices. Sometimes you might find that you have so many accounts where each one of it has its own password, this can be hectic, and you can easily forget a password in case you forgot to write it down. With Blockchain all this can be eliminated by creating just one password that can be used to login to all accounts at the same time. More to that, with an identity key master a user can access various services that will require verification of your identity just in a single place. This means one can access to all the services all at the same place and the only thing required is identity verification.

Fraud prevention

With the use of Blockchain, capital technologies is able to minimize roaming and identity fraud. This is a way of securing or mitigating the loss of massive properties worth billions which is a case experienced every year. Why not just apply Blockchain to avoid all the losses? It may not be an elimination technology, but at least it reduces the loss with a very high rate. This can be done by changing the process of identity verification and validation by your device if fraud is detected. There are various ways that Blockchain uses to protect your money as a user.

Scalable IOT

IOT connectivity gives distinct challenges which include securing billions of operations and interactions among the sensitive information, sensors, and machines which captured and later transmitted. In this case, Blockchain comes in with its decentralized control that enables the IoT security to be scalable. 

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