One of the major attractions of the CES technology show is the Blockchain technology. The blockchain technology will overshadow the bitcoin craze. This technology can transform the lives of people by moving beyond digital currency.
What are the benefits of using Blockchain?
Blockchain can be compared to the ledger book which can be edited by multiple people on the cloud. No central company or government needs to verify the transaction which means that the procedure can be completed quickly. Whenever changes are made, a public log records it. It is quite difficult to fake a change because of the presence of such a feature. You will also not be able to access it if you are not authorized. The records are not placed to your name and hence it is easier to exchange data by using the blockchain.
What Does the Founder of CNET Say?
The founder of CNET and Salesforce, Halsey Minor has claimed that he has shifted his focus to blockchain and video. He states that blockchain is a vital technology. Many companies are using the blockchain technology.
Who Relies on Blockchain Technology?
Estonia has great confidence on the blockchain technology and it is used to run the national identity card. The national identity card is similar to the US Social Security number. The people of Estonia can cast their votes online by using this technology in shareholder meetings.
Benefits of the Security Features
The security features of blockchain also help businesses like Augmate. This business organization had started as a wearable technology company. They provide guarantee for the smart devices which are used to talk to one another securely. The people can also see the information which is getting transferred. The CES entrepreneurs are trying to get more applications of the technology.
Paying for the Power
ImpactPPA is a well-reputed power company that allows the customers to buy generators to power their houses or donate power to the places which do not have electric connection. This group has generators in around thirty-five countries. By using blockchain, Impact PPA can quickly provide power to the people who need it at any time. The people do not need to need to wait for hours in order to get their money processed at the bank before they can get the connection.
Will the blockchain be able to transform the lives of the people? What are your views regarding the matter?