Blockchain is Not Only Cryptocurrency - Security Of Modern Solutions
Currently, there is only one question left to blockchain platforms - whether modern solutions are capable of providing the required level of reliability and security. While some analysts have expressed concerns about a possible ban on the use of decentralized solutions that do not have a single focal point, security experts believe that these solutions will not have a large impact on technology.
The reliability of the first implementation of the blockchain is beyond doubt. If you do not take into account the possible error when typing the text of the newspaper before going to print, then the attempt to fake or change the published information becomes so expensive and difficult that it is mathematically impossible to implement it in the real world.
What are the distinguishing features of the blockchain that make it possible to talk about its reliability?
The easiest way is to analyze the reliability of blockchain implementation using the example of cryptocurrencies, as the most developed area. So far, there have not been any reported cases of coin theft by attacking or counterfeiting the blockchain. All known incidents were implemented due to social engineering or vulnerability of target systems on which private keys from wallets were stored.
As it turned out, only four factors were enough to achieve such indicators:
- distributed storage of full copies of block chains - with this approach, no network participant is able to make changes to the record without the consent of the majority of users;
- inclusion of information about previous blocks in subsequent ones - it made it possible to increase reliability and exclude unlawful changes in a single section of the blockchain;
- every action on the network, in this case a transfer, is reliably protected by cryptographic methods - it will take so much time to crack that even the use of a powerful supercomputer will make you spend an unreasonable amount of money;
- openness of information allows you to track all movements of coins - this makes it possible to track actions performed after obtaining illegal access.
Although the latter improves reliability, it denies one of the main intentions of the distributed blockchain - absolute free.
If anyone decides what to do with this or that type of information in the blockchain, then it will not be possible to talk about complete freedom, and the Internet will not be able to completely move into the era of WEB 3.0.
What is the use of blockchain outside of cryptocurrencies?
Satoshi Nakamoto showed the whole world that blockchain can effectively solve a number of problems, the development of technologies allows this to be done with a high degree of reliability and trust. Now distributed ledgers are becoming a trend; not only financiers, but also government agencies and commercial organizations pay attention to them. Of the existing blockchain solutions, as the most interesting, there are several.
South Korea Vaccination Certificates
The governments of many countries are talking about the need to introduce some kind of "vaccination passport" system to ease the restrictions associated with the current epidemiological situation. Until the end of April in South Korea, it will be possible to confirm vaccination against coronavirus using a smartphone.
The Prime Minister of the country said that the confirmation of the authenticity of the certificate will be organized on blockchain technology, which prevents individual users from changing or otherwise falsifying information about vaccinations. It will be based on the corporate InfraBlockchain launched at the end of last year.
New York Health Passport
After a pilot run in the city, public health passports, developed by the government in conjunction with IBM, began to work across the state. As in the case of South Korea, the New York authorities took this step due to the difficult epidemiological situation. Excelsior Pass is an analogue of a pass built on a blockchain, which allows you to weaken quarantine measures for vaccinated citizens or those in whose body antibodies to the new virus are present.
Retail
Several branded clothing manufacturers have implemented authentication using a distributed blockchain. Thus, ordinary buyers have the opportunity to trace the entire supply chain of products from the factory to the shelf in the store and be sure that the purchased item is really genuine.
The “diamond blockchain” Everledger can be singled out separately. In it, just like in a regular retail network, information about the product is stored. Only in this case, the product is expensive. More than a million diamonds are recorded using registry technology. The "card" indicates the mine, weight, cut, purity and certificate number.
Conclusion:
Blockchain is increasingly used in technologies that are not related to finance or are indirectly related to them. Not only commercial organizations are interested in innovation, but also the public sector. A number of experts are inclined to predict a gradual transition of document flow and money exchange to the blockchain. It is the blockchain that provides the opportunity to provide the reliability necessary in each case, and the impossibility of forging documents will sharply reduce the facts of committed fraud and corruption crimes.
