Blockchain, Decentralization — and Data Security: Glimpse into the Future

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image credit: cryptocynews.com

Today, everything goes digital. The photographs we tend to store in photo albums are generally no longer in print form; but rather, they’re stored through online albums. Only a few people are still using physical paper planners in keeping track of their lives; because most people use and store daily reminders and appointments through digital calendars.

What’s more? Only a few people still maintain handwritten ledgers in tracking their bank accounts because there are a handful of websites and applications to do the work for them that allows easy access to this data.

Meanwhile, firms across multiple industries are storing all sorts of files and data digitally. Financial records, personnel files, digital networks; all are storied by companies’ internal data. Data which companies collect from their customers is often stored this way, as well.

Sounds good right? Except for the fact that, even when things go digital, we are more and more exposed to security breaches. And, so much at risk in getting hacked. When storing everything on computers, we face the possibility that one of the digital networks we love to use will eventually go down.

Security breaches and outages before, are major concerns for people who have turned to digital storage. But, technological innovation is coming to the rescue.

Blockchain

First, there’s the emergence of Blockchain — a highly encrypted digital ledger which stores data blocks. This technology started to decentralize data, where the innovation it represents could be the future of data storage. Several businesses utilizing Blockchain are seeing many benefits. One big reason for those benefits can be attributed to the fact that it’s easier to maintain files with utmost privacy and security on a decentralized network than a centralized one.

There is no single point of weakness vulnerable to security breaches and outage since Blockchain is a decentralized network spread out across computers in different locations. Security as well has been built into blockchain technology, and that makes it automatic.

Moreover, a decentralized storage would allow drastic reductions in terms of pricing, so that any company, not just the largest ones, can use the technology. Small companies don’t have to spend money and resources in building the infrastructure to hold data and files. Those companies would only pay only the amount of data storage they need.

Decentralizing data is indeed integral to the growth of online data storage. ,

As firms begin to rely almost entirely on digital data storage, a round-the-clock access to this digital infrastructure is the key.

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