With the internet continuing to grow at a rapid rate, the amount of information, both public and private, is being stored at a rapid pace also. The recent compromise of the beloved Facebook platform, caused by UK tech group Cambridge Analytica, is an example of this.
So how can we make sure our private information isn’t at risk again? Blockchain technology may be the answer to that.
Blockchain, which is the distributed ledger immutable record updated by individuals on the network, is the newest in IT technology for assuring total privacy in the public networks on the web (Here’s a simpler way of explaining it). Blockgeeks.com had another example as a ledger of records organized in ‘blocks’ that are linked together by cryptographic validation.
Here’s a way I can break it down: A few years ago, my brother AJ found out that his identity was stolen when he got the results of his background check after being offered a job. IF his private information was sent through a blockchain network, the probability of his digital footprint wouldn’t have been compromised.
One of the most popular forms of blockchain is the bitcoin, which also goes through a decentralized network to represent digital currency. Using the technical route of obtaining your money is easier because you don’t have to deal with the middleman of a bank or administrator.
Decentralized applications– or dApps– are the newest form of blockchain technology which the definition is still being created. Who knew !🤷♀️ To keep things more confusing, code professionals consider bitcoin the first example of a dApp.
So keep a lookout for these new developments because they are not going anywhere for a very long time.
