We live in a world that is saturated in our increasingly dependent obsession with digitalisation and technological advancement. We truly live in a world of our own design, and it is a design that continues to take shape and evolve over time. The modern world has been paved into existence with countless feats of technological progression and exhilarating movement in motion, and now we stand on the edge of an age that is run primarily (if not entirely) by digital competency. It makes perfect sense how we got here, and why we want to continue down this pathway we have paved for ourselves. It is a well-known fact that digitalisation makes things more convenient and efficient, but it also makes them much faster in comparison to the manual approaches that we have become so familiar with over the years. One of the most innovative feats of technological empowerment in recent history is also one of the most provocative. Blockchain is a concept that has received its fair share of controversy, even ridicule, over time.
The whole point of blockchain is to create secure and private virtual pathways for transference and processes. Additionally, it also makes things work faster, too. The very nature of blockchain ensures that it is protected against modification. This is made possible because blockchains are essentially a growing list of records (i.e. blocks that form a chain), bound together by cryptography. Each singular record (block) contains a cryptographic hash of the record before it, in addition to accompanying data and a time stamp. It sounds like simple technology, but it has taken years to craft and then fine-tune, working out the kinks in the armour along the way. Now, finally, blockchain has become a mainstream form of secure functioning in more ways than one. While initially designed to be a holding for cryptocurrency, it has since been realised that blockchain can be – and now is – used to keep any information added to the virtual networks secure and private against the odds.
Consider blockchain and its initial links to cryptocurrency, for instance. It is a known fact that bitcoin price has risen and dropped over time, but no matter the rises and falls, the one constant is that blockchain has allowed for a secure holding of the cryptocurrency. This is a priceless facet because it allows for active parties in the virtual landscape to be reassured that their private business remains secure. The same can be said for healthcare. Private patient information can be sent across the blockchain networks at incredible speeds, and thanks to the encryption on the records, they remain private – even if somehow the high defences against hacking and the like are breached. The sense of security that blockchain provides is something that allows parties to feel confident in their virtual activities.
In this way, it is not at all difficult to understand how such a feat of digitalisation and technology has become so popular in such a relatively short time – even if it has become so with its fair share of controversy and cautious speculation. There has never been a better time to get into blockchain than right now. This is a rising industry that is proving itself to be valuable over and over for the way that it works. There is power in having this type of defence so constantly and openly available. That power exists because of the realisation that in the online stratosphere, it is rare – even unheard of – beyond comprehension for security to be such a tightly-bound, impenetrable force. Blockchain offers what many have tried to create for years, and it does so in a way that allows all active users to be secure in their knowledge that their precious and private information is being stored and transferred in an undeniably secure way, all the way from point A to point B.
We live in a world of our own design, and that design is catered almost exclusively by digitalisation and technological prowess, among other innovators as well. It is not uncommon knowledge that the whole point, the unyielding aim of technology, is to make things easier, more efficient, and faster. There are many wonderful and life-changing feats of technological innovation that have achieved this very feat, some of them having done so under a cloud of uncertainty. Blockchain is one of them. A concept that many have deemed risky and even dangerous, blockchain has persevered in spite of the surrounding controversy, going on to become a promising pillar for the digital age we are delving deeper and further into. The modern world is one that has been backed almost exclusively and wholeheartedly by digitalisation and technologies, and this has resulted in the reliance on things continuing to excel at increasingly rapid speeds – including everyday industries like finance and healthcare.