Sunday, February 11, 2018

The blockchain, the base of cryptocurrencies like bitcoin :


Bitcoin is the most famous digital currency. It was created about ten years ago by Satoshi Nakamoto. It does not depend on any state or bank and is based on a complex and unworkable system: the blockchain.

The operation of this technology is similar to that of a peer-to-peer network: computers are connected to each other across the planet, and "bank" information, such as the balance of an account, is stored at various locations. locations. The data is not centralized, but is scattered, so it becomes impossible for a hacker to hack, since it would have to attack the entire system and not a specific server.

But the blockchain allows, in addition to store information securely, to keep the creation date, always reliably. This last point opens up possibilities and makes it possible to imagine new fields of application, for different domains of cryptocurrency.

For example, currently, in order to establish certain documents, one is obliged to go to an administration, which will keep a copy of the act and which can guarantee its authenticity. But with the blockchain, it could become old history, since we are able to time stamp the date of deposit of a document, and to keep this information for eternity.

Some notarial deeds begin to disappear. In Africa, for example, Ghanaians use blockchain technology to store their titles. It is indeed much safer than a paper certificate, which can be destroyed for various reasons: a fire, a flood, a war ... Or just time.

Even in France, the use of a data protection service is starting to become more widespread. More and more patents are thus deposited on specialized sites, which guarantee an inviolable protection, an international service ... And costs much lower than a more traditional solution.
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