Can Blockchain Challenge ‘FANG’ Tech Giants For Control Over Our Data?
Blockchains is an ingenious technology that aims to change the world through innovative theories that spice up the crypto-space. It provides an incorruptible digital platform that permits recording of all financial and valuable information transacted.
The “FANG” tech giants have for over a long period taken great control over our data in the process earning returns in millions and millions of dollars without placing too much considerations on the customer’s data privacy.
In the recent past, there have been new innovations that seek to give customers an autonomous control over their data thereby promoting privacy. Blockchains is an open source technology that seeks to build the customers data privacy.
Blockchains has greatly offered a great challenge to the all-time greatest technology giants and has created an immediate super option on the cyber-space data having successfully brought with it a cryptography feature
The world has overtime shifted into the IOT (Internet Of Thing) hence the introduction of a more secure monetized and a futuristic encryptions will soon make it a necessity to have the blockchains technology in order to effect a transaction.
Blockchains proves to be the most suitable technology right now because it offers
It has provided an efficient settlement platform that eliminates the intermediary needs hence transactions can be quickly effected thereby saving on both money and time.
It enables manufacturers be able to trace their products from the point of production to the customers hence effectively able to get feedback and improve on the areas of need.
Blockchains permits complex cryptography that is independently verifiable to be used in verification of all transactions within the network.
Blockchains enable easy tracking of information’s hence even if there is change in ownership of an item, this can easily be verifiable
The concepts of blockchains have also given rise to the crypto-currencies (Bitcoins) which have brought about their cutting edge approach and multiple benefits such as money saving thereby causing a major financial revolution
Bitcoins is the most famous cryptocurrency that promotes a digital worldwide payment system that transfers value as efficiently as data that is secure, tamper proof and anonymous.