Data accessibility


#1

Improve data accessibility

Over $1.7 trillion is lost every year related to data loss and downtime, and over 2/3 of companies have experienced data loss in the last 12 months. Due to the public, open nature of blockchain, information is readily available, and no single person has control over it. That means firms don’t have to worry about having siloes of information or having data stored across multiple computers or even physical, paper documents. And while the paper trail associated with traditional property transfer (deeds, titles, etc) can easily be counterfeited, the tamper-proof structure of blockchain prevents these types of fraud.


#2

This is the biggest and most important quality of Blockchain Technology. No one can hack it, can’t duplicate it or modify it according to their will. What’s recorded on blockchain once, will always be there. Frauds and scams will come down by more than 90% if blockchain is implemented in all the areas.


#3

This feature is being offered by the blockchain technology. Indeed, there are a lot of startups out there who are focusing on data. It is believed, that data is the new oil. It must not be freely given to anyone. We shall be compensated for every information we relay to others. And yes, it is being seen by enterprises that’s why they more and more are divulging in blockchain. Sooner, not only data protection against theft of hacking but also against malicious files viruses will be minimized and taken actions via blockchain. It’s just a matter of timing, I have been seeing projects which are really focusing on security using the advantages of blockchain, hopefully, in time they will all succeed, for our benefit.


#4

There is no doubt, they will succeed. No data is safe at today’s time. If hackers want, they can hack anything, from banks to any data vault. Blockchain can be the only ‘safe’ which won’t be hackable, at least not easily.