The widespread of blockchain technology has affected many industries, expanding its scope far beyond cryptocurrency. From IT, blockchain has various applications in this area. Let’s take a look at how blockchain technology has been implementing in the IT field.
1. Integrity and data control. The cloud architecture, being the core of various security technologies, is vulnerable due to its centralization. Separate servers need to conduct and receive data operations continually; each of these servers can suffer due to hacker attacks, thereby putting the entire system at risk. The blockchain operates automatically, while systems and algorithms control interconnected devices. With this, guaranteeing data security: with complex encryption and a decentralized structure (for example, the bitcoin algorithm — SHA256 — and 64-digit keys), the blockchain is an effective solution, minimizing the possibility of hacking. It is easier to prevent a threat than to eliminate the consequences. About a year ago, blockchain-based electronic voting was introduced based on transparency and security principles. Unfortunately, this system has not yet become widespread. So far, such voting in elections is used only in Estonia. However, there are all the prerequisites for a dramatic change of the situation soon. Samsung and IBM are developing the Adept project, aiming to use blockchain for building a decentralized network of numerous different devices (IoT), interacting with each other.
2. Data management. Factom is a complex technological solution, applying distributed ledgers for data management. Record identification tools analyze and control databases in a variety of industries. Business and government organizations are adopting Factom to streamline records management and information recording. Factom’s services enable us to run a business under safety requirements and market regulations. Factom’s blocks are time-stamped and stored in a decentralized way, reducing costs, simplifying data management, and meeting legal requirements.
3. Identification, data authentication, and confirmation of access rights. Such companies as Guardtime, ShoCard, BlockVerify, HYPR, Onename use distributed ledger technology to identify and verify access rights.
Decentralized distributed ledgers store various types of data, conduct transactions safely and transparently. Moreover, identity assurance can provide users with adequate control over third-party access to personal data and openness to other users.
Civic is a blockchain platform, solving the problems of personal data theft. The service provides registration, confirmation of personal data, and protection of credit history from fraud.
Blockchain technologies are not static; their application scope widens from day to day; this trend expects to develop.