In recent months BlockChain technology has made leaps and bounds in its growth towards commercial applications. While it promises great improvements in many areas there are some serious side effects for your organisation’s infrastructure moving forward. Massive companies like Microsoft, Amazon, and IBM have made a significant investment in this new technology with a desire to expand and grow their businesses in the future. Blockchain has grown courtesy of the cloud feature within the world of computing, and the new technology is raising questions over what exactly or rather who exactly should be using this technology.
What is it?
It is the technology that was used to develop Bitcoin, which uses digital encryption. However, unlike Bitcoin, it is more of a financial tool and can be used to encrypt and secure data of various kinds. This technology can be described in simple terms as a technology that provides a platform that any person can access, but no one can alter.
How useful is it?
The most crucial part of any new technology is the question of how it will impact your life or organization. How useful is this technology in comparison to the current technologies available? The truth is that this technology can change how things are run in the world of IT, benefiting the way you do business. Some of the pros of incorporating this technology into your system include:
The number one advantage of this technology is its ability to provide adequate security of data for its users. It can be used to validate information while keeping it safe. It is one way of protecting your financial transactions from illegal access whilst keeping your financial transactions private and secure.
Another supportive fact of adopting this technology into government operations is its ability to provide a transparent platform for transactions. Every transaction that will happen within the government is published making officials accountable for their actions while using government resources. Furthermore, the technology inhibits any activity of altering with the records of past transactions making any retrievable information valid and truthful.
This technology can operate smart contacts. When incorporated into a system it will not only ensure that the contracts are signed, but that they are also up and running. It also generates a secure base for those individuals who do not want to transact with the bank. In case you have a bad view of the bank then this technology serves the same purpose for you. Furthermore, it digitally provides value for your money.
It is a springboard for the IoT
If you are an individual who worries about the speed of cloud and fog computing, then this technology is the appropriate choice for you. It is meant to ease your transactions and other significant financial needs. Additionally, it provides faster services and generates a secure system for sharing information within the organization.
EMPR Australia now offers a range of cloud and security software to help your business! Contact our specialist team today for expert advice and recommendations.