Relation between Blockchain and data storage and management

February 23, 2020 • By

The digital revolution creates an environment of profound changes within companies. Technologies such as Artificial Intelligence and the Internet of Things (IoT) gain more and more space within companies, increasing the number of services and providers. In this scenario, a company that has not prepared for this new stage of the world industry may encounter data storage problems and very slow processes. Click here to know about bitcoin exchange.

The challenge

The great challenge of the current market is to find ways and technologies to handle that amount of information, but at the same time track and protect its products along the production chain.

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With the high demand for online services and the new consumption standards, companies need to guarantee the integration and security of users, as the consumer is increasingly demanding on the internet. Factors such as security and transparency are important in choosing a trusted platform.Visit this site to know about bitcoin exchange.

Digital fraud

Another common problem is digital fraud. It is estimated that, worldwide, they cause around 5 billion dollars in losses. According to figures, there is a 60% increase in cyber-attacks in Latin America in the last year, with countries like Brazil, Argentina and Mexico at the helm, with an average of 45 attacks per second throughout the region.

The solution: Blockchain

A technology that emerged more than 10 years ago, with the function of making cryptocurrency transfers, may be the solution: the Blockchain allows the tracking of a product throughout its life cycle, eliminating intermediaries and maintaining encryption at throughout the process

A key factor in the adoption of the Blockchain is its ability to guarantee data security in all the processes involved, since its authentication factors warn when data is exchanged. In the near future, with the era of the General Data Protection Regulation (GDPR) and data privacy approaching, ensuring the flow of information in security will be very important to ensure the survival of companies in the market.