In 2018, blockchain was all the buzz. Thanks to the distributed ledger technology, we have seen a new wave of accountability and a source of hope for a better future. From Facebook to Marriott, large-scale security breaches have put security at the forefront of our minds. We are finally deciding that enough is enough. We are coming to realize that security matters more than ever and that with the blockchain, we have a trusted partner by our side. Read on and watch the following video to learn how BlockCerts Blockchain can help you, your business, as well as your year ahead.
Overcoming the Dangers of Email Communications
Traceability, immutability, and transparency have become the greatest buzzwords of our digital age. Although, it hasn’t always been that way… Take email for example. Email has become the very backbone of everything we do, purchase, and communicate. Sending emails has become second nature, so much so that many of us don’t think twice before conveying personal information. The reality is, by design, email is an unsecure format. And even Google has to agree. According to Google’s Transparency Report, 40 to 50 percent of emails are actually unsecured. This means that 40 to 50 percent of communications may leave individuals and businesses at great risk of being exposed. The current landscape certainly isn’t in favor of user’s privacy, but here at BlockCerts, it is our primary purpose to design truth and transparency back into the web.
Many times, in business, we will hear the same thing when it comes to email communications. “Do Not Share This Email!” “Use This Security Code ######” While companies may be trying, they are ignorant to the true vulnerability of the Internet. For one, important information could easily be intercepted along the route from point A to point B, shared or not. Critical contracts could get signed by ANYBODY and Security Codes could be retrieved by ANYBODY. What’s really lacking here is a sense of identity.
Identity management is a key component of blockchain technology. With multiple layers of privacy built into the platform, Blockcerts Blockchain leverages the innate security of:
- Decentralized Technology-information is distributed like a complex puzzle across the network, making it difficult for hackers to retrieve and decrypt information
- 3-Step Authentication-Ensures the correct identity of an individual to proceed and participate
- KYC (Know Your Customer) Technology-Provides a series of encrypted letters and numbers known as a Private Key that is unique to each individual
Distributed Ledger Technology
BlockCerts Blockchain is a distributed ledger technology. This means that no single party can manipulate or control data information. It means that those partaking in transactions are held accountable with an immutable record tracking every step of the way. It also means that a person is really who they say they are.
What is Bitcoin?
Many people still have trouble distinguishing Bitcoin from blockchain technology. The most important distinction is, Bitcoin is a digital currency, while blockchain is the underlying technology, the decentralized foundation. Much like Skype, Bitcoin is a peer-to-peer network. It allows for digital exchanges of information in order to buy or sell goods and services. The technology first emerged in a time when big banks were being accused of corruption, imposing hidden fees, and misusing money. Individuals were looking to regain control and with Bitcoin, they were finally able to cut out the middleman and have greater control over their resources. Ever since, Bitcoin has had its share of ups and downs. Hacked accounts and high volatility have becomes synonymous with Bitcoin. Although, blockchain technology remains, and learning from Bitcoin’s mistakes, it is only growing stronger.
Public and Private
The blockchain consists of both public and private records. Anyone can access a public record through a web link, whereas private records may only be accessed by those with a relevant Private Key. Every transaction is recorded fully, according to the private key – public key QR Code flow for every:
- Product “thing” and
Secured Contracts and Communications
We are coming to realize that security matters more than ever and that with the blockchain, we have a trusted partner by our side.TWEET THISOnly YOU hold your Private Key and with it, you may access all of your most important files, documents, and photos. It’s like your own personal security vault! If you wish to collaborate, share files and contracts with other members of your team, you may share access to those members through BCERT Private Key technology as well. From there, you may rest assured in knowing who is accessing the information, who is signing the documents, and who is making and receiving payments. Drilling into a transaction ‘block’ – those with Authenticated Access gain a full view of every transaction step for audit, real time compliance tracking and review.
So long are the days of unsecured emails and being in the dark about our own information. It’s time to learn from our mistakes. Looking ahead, we may find new solutions on the blockchain and recreate the web for the better. Why BlockCerts Blockchain, you may ask? Because trust is by design.