Block chain, a decentralized ledger has made it extremely difficult for the hackers to not only access the data but also to tamper it. This is the technology which allowed Bitcoin to become a household name in the last couple of years. However, the Block chain has far more advantages beyond the crypto currencies and in this post, we will take a look at some of them. Stay Tuned!
It is hard to deny that most banks have corrupt ledgers from which data is widely provided to third parties, thereby exposing the sensitive data of the information. With the help of Block chain and internet, anyone with just a smartphone can send and receive payments through a ledger that will be robust to hacking.
In some countries, forging duplicate documents about the owner of land is a common practice done by ill intent people. Corruption in the bureaucracyhas allowed for such mal practices to flourish. But not anymore. If block chain are included for keeping the details about the ownership of the land, then the details are unlikely to be forged by a hacker in order to hoard a piece of land by fraud means.
Objects like cars, bikes and other tangible products can have concrete evidence of ownership through Block chain. The registration details can be stored on the ledger. Smart keys then can be used in order to allow access to such products.By having such system, there is increased trust and efficiency and decreases the potential of frauds and mediation fees.
4.Birth, wedding and even death certificates:
There have been several documented instances where children have not been issued birth certificates even after completing three years. The mismanagement and corruption in such practices easily allows for distortion of real data which includes the likes of real date of birth, wedding death and even the death. Such important details allow an individual to claim a number of rights such as voting, workmanship, access to healthcare, pension and what not. Keeping all such data protected inside the block chain will allow for equal rights for those people who are at the receiving ends of fraudulent practice.
Imagine having all your personal identification details such as driver’s license, social security ID secured inside the block chain. Wouldn’t that would make the world a whole lot honest and transparent?
Block chain development
Block chain is relatively a new technology which offer loads of benefits to data. At PieTreetech, we offer exemplary skills for developing the block chain. Whether you are looking to acquire it for banking, real estate, or for cloud back up, our block chain development includes smart contracts, custom block chain solutions, security token offering and whole lot of other trending features. We also offer cost-effective Block Chain consulting for various business niches. Give us a call at +91 8884708110 and we will gladly help you out for your block chain queries. Cheers!