Contact Us Today! 1-844-237-4300

Central Technology Solutions Blog

What’s Happening with Blockchain

What’s Happening with Blockchain

For a while there, blockchain was a buzzword that you would hear about constantly. It was the future of data security and secure online transactions. As 2020 has pointed our attention elsewhere, you’ve heard less and less about blockchain technology. Today, we’ll take a look at what some of the most innovative companies are doing with distributed encrypted networks,

What Is Blockchain? 

Blockchain was one of the most talked about technologies of the last half of the past decade; and while there have been hundreds of startups that use blockchain at the center of their offerings, there is some thought that the usability of the technology wasn’t as revolutionary as it was made out to be. For those of you who didn’t believe the hype, however, it should be noted that blockchain, the distributed ledger technology that provides unparalleled data security, transparency, and reliability, has been used as the basis of applications for financial services, real estate, law enforcement, supply chain management, insurance, and many more industries. 

The applications of this technology don’t end for cybersecurity, however. For the past several years the technology has been seen used in more and more practical applications.  You see, when you can depend on the reliability of information, developers will want to use it to enhance the ability to manage waste. Supply chain management is a great example. The more transparency a business can have with the products and resources on their supply chain, the more efficient their operations will be and the reliable their projections will be, allowing them to budget better and use the capital they would have otherwise wasted in advancing their company’s agendas.

How Some Industries Use Blockchain

The best way to see how blockchain has been integrated into software is to take a look at how companies utilize the technology.

Medical

If there has been one industry that has utilized blockchain technology the best, it is the healthcare industry. Some hospitals have already started utilizing the technology to help protect patient data. In healthcare there is a lot of information that needs to be both secured and simultaneously available, a complete conundrum for healthcare providers. Enter blockchain. Here is a technology with the ability to keep a transparent, yet incorruptible and private log of all patient health, insurance, and provider data; and, since it is decentralized, sharing the information that’s needed comes with fewer risks to patient profile info.

Banking

One industry that analysts were most curious about was how blockchain was going to affect the banking industry. Obviously, with the ability to keep transactions transparent and secure, the technology is perfect for the banking industry which, despite all the technological advancements over the past 50 years, hasn’t changed all that much. Today, banks are using blockchain as the basis for smart transactions that can be used to move money faster than ever. Banks are also partnering with various FinTech (financial technology) companies to create financial products that will seemingly revolutionize the way people and businesses can get the capital they need to push their initiatives forward.

Cybersecurity

Another obvious industry that is both quickly growing and in need of reliable instruments is the cybersecurity industry. Basically, companies are creating products that revolutionize the way people store their sensitive data. The distributed nature of blockchain is the impetus behind this shift. The less information can be gained from one location, the less likely hackers and cybercriminals will be to try and infiltrate. Moreover, with blockchain’s built-in encryption it has become a great option for access control systems and for data confidentiality as a whole. 

You may not be able to download a blockchain app and find any practical use, but the technology is here and is being used to secure large portions of sensitive data by companies from all over the world. If you would like to learn more about data security using blockchain technology, why not reach out to the IT professionals at Central Technology Solutions? Our experts can help you better understand what blockchain is and how you may be already using applications built with blockchain and didn’t even know it. Call us today at 1-844-237-4300 to learn more.

Business Analytics 101
Cyberattacks Have Gone Way Up Since the Pandemic S...
 

By accepting you will be accessing a service provided by a third-party external to https://www.centraltechnologysolutions.com/

Join our mailing list!

  • Company Name *
  • First Name *
  • Last Name *

      Mobile? Grab this Article!

      QR-Code dieser Seite

      Tag Cloud

      Security Tip of the Week Technology Best Practices Business Computing Productivity Cloud Data Network Security Privacy Hosted Solutions IT Services Data Backup Email Internet Malware Hackers Efficiency IT Support Software Business Innovation Outsourced IT Microsoft Data Recovery Hardware Mobile Devices Productivity Computer Managed IT Services Google Business Continuity Smartphone Small Business Upgrade IT Support Cybersecurity Backup Collaboration Cloud Computing Phishing Disaster Recovery User Tips Communication Ransomware Tech Term Workplace Tips Business Management Managed Service Provider Managed IT Services Mobile Device VoIP Windows 10 Android Managed Service Internet of Things Smartphones Social Media Quick Tips Paperless Office Data Management Browser Encryption Remote Monitoring communications Saving Money Managed IT Network Facebook Office 365 Artificial Intelligence Windows 10 Windows Server Save Money BDR Covid-19 Miscellaneous Remote Work Virtualization Business Technology Compliance Users Holiday Risk Management Document Management Apps Passwords Help Desk BYOD Wi-Fi Chrome Vendor Management Health Password Office Analytics Microsoft Office Government Mobile Device Management Automation Healthcare Windows 7 App Training Robot Blockchain Going Green Bandwidth Applications Unified Threat Management Recovery Employer-Employee Relationship Firewall Gmail Content Filtering Data Security Avoiding Downtime Money Big Data Laptops Bring Your Own Device Mobility File Sharing Information SaaS Information Technology Telephone Systems Wireless IT Management Regulations Files Redundancy Tip of the week Hosted Solution Scam Computers Website Storage Antivirus Project Management Infrastructure Two-factor Authentication Apple Processor Data loss Vulnerability Gadgets Data storage Computing Machine Learning Hard Drive Unified Communications Access Control Budget Mobile Office IoT Tablet Operating System Printing Meetings IT Service Downtime Remote Computing Company Culture RMM Settings Politics VPN Software as a Service Work/Life Balance Proactive Router Customer Relationship Management OneDrive Social Maintenance Virtual Private Network Flexibility Employee-Employer Relationship Customer Service Virtual Reality Consultation Uninterrupted Power Supply Twitter HIPAA Remote Worker Cooperation Bitcoin Display Spam Mobile Security End of Support WiFi Word Search YouTube Outlook Electronic Health Records Mouse Social Network Monitoring Monitors Employees Google Drive Electronic Medical Records Administration Private Cloud Alert Education Tech Support Data Storage Dark Web Recycling LiFi File Management Augmented Reality Utility Computing Consulting Business Growth Time Management Networking IT solutions Digital Payment The Internet of Things Patch Management Instant Messaging How To Samsung Payment Cards Websites Identity Theft Mobile Computing Co-Managed IT Smart Technology Data Breach Managed Services Provider Chromebook Licensing Hacker Solid State Drive Network Management Sports Net Neutrality Assessment Remote Monitoring and Management Current Events Management Professional Services Managed Services Wireless Technology Legal Server Management How To Remote Workers Internet Exlporer Upgrades Lenovo WPA3 Financial Computer Repair Employer/Employee Relationships IT Assessment Banking Cookies Enterprise Resource Planning Bookmarks Virtual Assistant Vendor Google Calendar Hard Disk Drives Virtual Machines GPS Peripheral Managed IT Service San Diego Hacks Statistics Features Retail Cortana Batteries Typing Address Permission Physical Security Specifications Disaster Resistance Projects Gamification Best Practice Digital Obstacle Geography Authorization 3D Printing Cyber security IT Technicians Superfish Fleet Tracking Procurement Proactive Maintenance Digitize Supercomputer Permissions Nanotechnology Mobile Favorites Processors Wasting Time Smart Devices Crowdsourcing Legislation Solid State Drives Credit Cards Tracking PCI DSS Break Fix Social Networking Bluetooth Cache ROI G Suite History SharePoint Staff Office Tips Test Taxes Outsource IT Black Friday Roanoke — Central Technology Solutions Windows 8 Save Time Star Wars Proactive IT Update Return on Investment Google Maps Unified Threat Management Hotspot Spyware Course High-Speed Internet Unsupported Software Virus Teamwork Mirgation Identities Asset Tracking Database Management Shadow IT IT Budget Fraud Screen Reader Shortcut Conferencing Database Sensors Options Holidays Motherboard Cyberattacks Social Engineering USB Notes Cabling Downloads Firefox MSP Shared resources Windows Server 2008 Laptop Cyber Monday technology services provider Heating/Cooling IT Consulting Active Directory User Error Language Google Wallet Development Zero-Day Threat Mobile Data Virtual Desktop Migration Hard Drives Google Docs OneNote GDPR Outsourcing Smart Tech WannaCry Managing Stress Voice over Internet Protocol Point of Sale Dark Data Tech Terms Personal Information 5G IT CRM Data Warehousing Humor Hacking eWaste Read Only Safety PowerPoint Value of Managed Services Cybercrime Operations Telephony Remote Working Technology Assurance Group ’s 18 Backups Servers Windows Server Sync Computing Infrastructure Drones Cables Backup and Disaster Recovery Technology Tips Chatbots Video Conferencing Public Cloud Deep Learning Enterprise Content Management Finance Notifications Telephone Law Enforcement Theft Marketing Wireless Internet Business Telephone Botnet Remote Microsoft Excel Modem Disaster Trending Black Market Travel Multi-Factor Security Wearable Technology Manufacturing Optimization Distributed Denial of Service Annual Convention Cost Management Technology Laws E-Commerce Writing Emoji Buisness Security Cameras User Management Mobile Device Managment Software Tips Printer Alerts Alt Codes Mail Merge Wires Human Error Comparison Identity Cryptocurrency Touchscreen Connectivity Techology Network Congestion Biometric Automobile Computer Care VoIP Sponsor Vulnerabilities Authentication Transportation Mobile VoIP Gadget Motion Sickness CCTV Administrator Students Relocation Regulation Hard Disk Drive Webcam IT Consultant Error Emergency CrashOverride Web Server Printers Cameras