The potential of Blockchain technology

By Global Trust Association

23 September, 2019 | 21:09hrs

Initially known as the technology supporting cryptocurrencies, Blockchain is a tool that guarantees the security of transactions without requiring intermediaries.

Although so far it has been associated with the popular virtual currency bitcoin, this technology has enormous potential for application in different areas.

In the future, there might be autonomous organizations without leaders or physical location, intelligent cities. It might even be possible to vote electronically from the cellphone, as well as protect our copyright for digital content.

Instead of relying on centralized data storage, this technology offers the possibility of storing data in a distributed manner, making hacker attacks and loss of information due to technical problems or natural disasters more difficult.

This technology will allow the creation of a tamper-proof digital identity by replacing online usernames and passwords. Since its structure allows generating an unalterable record, it may be used to store any type of information and cover a wide range of areas, such as healthcare, property registration, creation of products, births, deaths, civil status, international criminal record, among others.

Today it is possible to affirm that it has overcome the barriers of our imagination. If we are entering a new stage of innovation and positive revolution on the Internet, it will be thanks to Blockchain.

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