How the Blockchain Technology is going to change the World
Did you know that blockchain technology is a key component in building the LIX trust network? The technology is going to be used to prevent piracy of video games. There is news of how the blockchain technology is moving from cryptocurrency to other areas of business. We are yet to see the biggest impact of the blockchain, and we are going to look at how this technology is going to change the world.
Cutting out the middlemen
The blockchain technology makes it easy to access financial information in different parts of the world. This is because the information does not need to be hidden behind firewalls as encryption ensures only the relevant parties can access the information. The blockchain is believed by experts to have a huge potential to shake up financial services and other industries. It is a game changer for the financial services industry, for the trade finance and for the internet of things. Blockchain has the potential to eliminate middlemen in the financial services and create jobs in the enterprise IT sector.
Cybersecurity
There are many ways hackers use to attack their victims. Some of these ways include staling ideas, fraud and shutting down networks. Blockchain technology can prevent some of these security breaches. Experts say that blockchain is the alternative approach to sharing and storing of information because it provides a way out of the security mess. Blockchain can stop malicious attacks through the following ways:
• Protecting data integrity- blockchain makes it nearly impossible for someone to tamper with data without being detected. The technology can be used to provide data transparency.
• Protecting critical infrastructure- PayPal, Twitter, Netflix, and other services have been victims of attacks that took them offline for some hours. The hackers brought down the provider of Domain Name Services to the websites. With blockchain technology, the Domain Name Service will be protected by removing the single target that hackers can attack to compromise the entire system.
The gaming industry
The blockchain technology can be used to distribute video games, and this will give all game developers a fair chance to grow in the industry and eliminate the big companies who only thrive because of their advanced marketing strategies. It can give the game developers full control over their games and enable them to make more money out of their creations. Blockchain can also be used to reduce piracy and illegal use of content.
The blockchain technology has been hyped all over the internet, and soon, it will become a reality as consumers and businesses catch on to the benefits it offers. Adopting the blockchain technology will be fastest in the financial services as it will make transactions quicker and more secure. It will also grow in the information security because the encrypted technology can be used to prevent cyber attacks from happening. This technology is going to reshape the gaming industry, and it will empower video game developers to gain more control on their games, fight piracy and increase their revenues.
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