As the popularity of blockchain technology continues to rise, it's essential to explore its functionality and understand why it deserves attention. While commonly portrayed as a dubious tool associated with cryptocurrencies and scams, the fundamental nature of blockchain is far from nefarious. In reality, its decentralized and transparent attributes make it well-suited for various tasks, and we'll describe how it can be used for more than cryptocurrency below.
The blockchain is one of the more recent new technologies that businesses have been considering for their offices. Blockchain technology could have been implemented to solve a host of different problems, but the world simply was not ready for it. Is it ready now? Perhaps—let’s take a look at three applications for the blockchain in today’s business world.
Blockchain technology might be best known for its use with cryptocurrencies such as Bitcoin and Dogecoin, but that’s just one type of blockchain. There are other varieties that could prove useful in certain sectors. Let’s take a look at what they are, how they might be used, and what some of their benefits and shortcomings are.
When searching for value within blockchain, you do not have to look hard nor far. Blockchain’s incorruptibility encourages other potential uses in the tech community. Today we will take a look into what blockchain technology is as well as other ways we can utilize this technology.
Blockchain is typically related to cryptocurrency, and most of the time you’ll hear these two words in the same sentence. Bitcoin has both risen and collapsed in value over the past few months, which has led many industry professionals to consider other ways to take advantage of blockchain technology. In fact, the blockchain is actually quite useful for a number of different purposes.
Now that the European Union’s General Data Protection Regulation (GDPR)--the most comprehensive individual data protection law in history--has gone into effect, it is important to know where your business stands in regard to your potential liability. One technology that has a rather lot of ambiguity surrounding it is blockchain, which is essentially an encrypted and distributed digital ledger. How is the development of blockchain, which is built on the idea of security through transparency, going to fare under the guidelines of the new GDPR regulations?
For our Tech Terms, we sometimes dig into the inner workings of your computer or other technology hardware, but sometimes we like to dig into details of new or emerging technology that’s taking the industry by storm. Today, we’re doing just that by discussing what a blockchain is and how it works.