There is no reason to talk a lot about digital currencies. They all properly function based on the so-called blockchain technology. However, is the crypto world the only place where this technology is applicable? Not at all. You can see people from different industries are using it to boost the performance of their business.
In general, blockchain technology has the capacity to boost the safety level of the entire online world. The question is – how? Well, answering these questions requires in-depth analysis. Because of that, we prepared a list of ways how blockchain can make the internet safe. Of course, you should not gather these pieces of information just because of curiosity. Blockchain is the future of the business world, so you will, sooner or later, have to get familiar with it. Reading this article is the best first step you could make. So, let’s get started.
Forgetting the Password? It Will Become Impossible
How many times have you forgotten the password of your social media accounts, bank accounts, and other stuff? Well, it seems that blockchain technology will ensure that something like that does not happen again.
We will use an example of Facebook to make things clear. Let’s imagine that you somehow forgot the password (or simply someone entered your account and changed it). In that case, blockchain technology will give you a so-called one-time password. You will probably require that type of password by clicking on the icon that blockchain offers.
After you do that, Facebook’s algorithm will check out the digital certificate that you ensured on the blockchain. After the analysis finish, you can get a one-time password on your mobile, email, or anywhere else. The good news is that a permanent password will become encrypted. That will ensure that someone else can’t see the password you got.
The next thing you will have to do is to write down your username as well as the OTP you got. Whenever you log in to your account next time, the password will change. Because of that, you won’t have to remember it, and the chances that someone will hack you are minimal (something like that will probably be impossible). Of course, whenever you do that, a new password will be sent to your mobile phone, email, or whichever type of service you decide on. Doesn’t this seem amazing?
Selling Your Data? Another Impossible Thing
How many times a day you search for something on Google? Probably a lot. However, do you know that, whenever you enter a website, subscribe to a newsletter, or anything else, someone tracks your behavior and activities? Because of that, Google can sell the data (based on your behavior) to companies that want to advertise their products to you. You have probably noticed that, when you enter an eCommerce store to check out some shoes, you see a bunch of ads promoting shoes on your Instagram and Facebook. Well, you now understand why something like that is happening.
Many people consider this dangerous because they would not like to provide their personal data to everyone. However, the problem has a solution thanks to blockchain technology. Let’s imagine once again that you are purchasing shoes. However, this time, instead of using your credit card, you decided to purchase them with your digital currency. As you know, all cryptos come with some level of anonymity. The algorithm can’t follow your behavior and it can’t sell the private data to other companies at all. Because of that, you won’t have to deal with a bunch of ads on social media, and no one else could track you.
Usage of Digital Certificates Will Save Us from Fake News
As previously mentioned, blockchain technology will boost the safety of all social media users. However, there is one fact that we need to remind you of. Everyone in this world can create an Instagram page, Facebook profile, etc. Because of that, these people can easily make fake accounts where they can share fake news all the time.
The good news for all people is that digital certificates are becoming more and more popular. For instance, let’s imagine that a school plans to make a Facebook page and share some important information there. Anyone can do that, right? Well, the schools can confirm and verify their identity through these digital certificates. No one else will have the right to steal your identity and you will be the only one who can make that Facebook page. We just used an example; every business, news portal, or anyone else can do the same. That is the reason why we believe that spread of fake news has finally come to an end.
People Will Manage to Vote
We won’t talk a lot about voting in the political world. However, we need to mention that the internet voting system is another thing that blockchain technology will bring to this world. To start, we need to ask you – have you ever heard about Zerocash?
It is one of the digital currencies that are fully anonymous. All the people can do is track the transaction and get the confirmation that transactions are made between two parties. However, the pieces of information of all the parties are completely anonymous.
Let’s turn the same method into the voting process. Whenever someone votes for the candidate, the voter can send a coin to a digital wallet of the candidate. Whenever the algorithm notices that the tokens in the digital wallet are equal or even less than the number issues, that means the entire procedure is valid. Of course, the candidate with the most tokes is the winner, and there are no ways someone can scam people or anything else. Of course, this method can be used for different purposes, and we hope it will become more popular in the future.
We hope things are clear now to people that are not too familiar with blockchain technology. If you want to find an additional source of information, we recommend you check out the websites like icorating.com after reading this article. The analysis they make will confirm that everything we said here is correct. In that way, you will get an additional confirmation that you learned something new.