The Blockchain is all the Buzz, although we’re left with a lot of questions: What is the blockchain? Why is blockchain needed? What are the most important benefits of the blockchain? What’s the difference between a public and private blockchain and why are they so different? Watch the video below, can you pick out what use is it for my business?
Watch the video below, can you pick out 3 Good Reasons for Being on a Private Blockchain?:
The Blockchain Comes to Your Rescue
The blockchain not only offers a more secure solution for what it is you’re doing today but also ushers in new automation and tools for the growth of your business tomorrow. So much of the early hype has been about Crypto, but the main character, the underlying technology called Blockchain, is the real backdrop for your future.
As you’ve just learned, there isn’t just one blockchain. There are different types of blockchains, both public and private, open and invitation only. You may have also discovered that the blockchain isn’t crypto, although crypto was the first to leverage its benefits.
You really don’t need a Ph.D. in blockchain, just a general understanding of what it is and how it can capture new benefits for your business. We use the Internet to deliver solutions, but we don’t ever think twice about how it’s delivered, right? We watch Netflix but don’t really care how it is streamed to us, either. With convenience, it’s simple.
What is the Blockchain in Simple Terms?
The blockchain is the secure layer where important data may be stored and transmitted to run your next-generation applications. With a new understanding of Public and Private Blockchains, it’s easy to see how businesses can leverage a private blockchain. In the case of your business, it’s your own private highway. You have your own private on-ramps and off-ramps with your own private vault for storage as well. It’s your own private decentralized cloud storage with new applications to run your business.
The platform is ultimately private because only those with a private key may get on the highway and access what’s in the cloud. A private blockchain is faster as it does not allow for the highway congestion one might find on a public ‘highway.’
The Basics of Blockchain
“A blockchain is a series of transactions, information, or data which are recorded and stored as data blocks. Each block is then linked together cryptographically to form a chain of information.
Each block of data is encrypted and “hashed to the chain”. In a public blockchain, the information is accessible to everyone. In a private blockchain, only those invited to view the information can access it”.
The 3 Additional Levels of Security to Protect Your Business
BlockCerts has taken the original blockchain model and gone three steps further. It’s more secure because it has multiple layers of additional encrypted layers including KYC authentication, private keys, and QR codes.
1). Multi-step KYC authentication is the first layer of security. Only those authenticated can access the next step.
2). The second layer is a 64-digit alpha-numeric private key.
3). A QR Code is generated to provide another way of accessing your information.
In business, we all need protection to secure our important information. The blockchain provides that solution, threefold. In order to become a leader in your market, you will also need to constantly upgrade and harness the latest tools to automate, replicate, and do more with less. With the blockchain, the possibilities are endless.
So, let’s a recap. The Blockchain is the highway to success. It is the engine that will power many applications of the future. The Internet brought transmission of commerce; the cloud gave us online software, email, and other forms of communication. But in reality, the Internet is over 30 years old and it is based on the same “Centralized Databases” that continue to expose clients’ data at an alarming rate. “Decentralized Data” spreads this information like encrypted puzzle pieces spread across the cloud. Only your private key can connect those pieces.
The Sexy Part – New Applications to Gain New Efficiencies in Business
The blockchain is the secure layer where important data may be stored and transmitted to run your next-generation applications. With an understanding of the security layers that BlockCerts can provide to your business, you are now open to a new world of doing business:
1). Smart Contracts – a new eSignature solution to collaborate, automate, and create new efficiencies.
2). Electronic Filing Cabinet – to secure important files, pictures, and data and to share securely.
3). Supply-Chain and real-time tracking for simple compliance and new efficiencies
4). The elimination of seat fees, so you can scale your business and save thousands…And many, many more applications to be shared in future posts!