With the introduction of security through transparency, blockchain’s technology is being implemented in every industry.
February 7, 2019
For most people, when they hear the word blockchain, they immediately think of Bitcoin and other cryptocurrencies. Sure, this is all part of what blockchain can do. But blockchain is so much more and has so much potential. The technology is so remarkable and game-changing that its potential benefits practically span in every single industry you can think of.
The ability to unify complex encrypted data streams within a secure environment puts blockchain in a unique position when it comes to app development. Here is a list of innovative ways that blockchain has impacted or will soon impact mobile app development.
1. Creation Of A Digital Ledger
Blockchain adds a complex digital ledger system to any platform. At its core, blockchain is a ledger system of connected computers that all send and receive data to and from each other. Making one change to one piece of information will result in the change being transmitted to all other computers on that network, adjusting all the values that need to be adjusted at the same time.
When it comes to mobile technology, the billions of users are finally beginning to take a toll on mobile networks. The way mobile phones work is that the user requests data through an app, which puts together forms from the client side, from the server, which is a central distributor of information as requested. These channels have been getting more and more flooded each day, and today, it is easy for information to get lost in the transmission process. Luckily, not all hope is lost. Blockchain has made tremendous leaps in recent years, and more advanced storage options are now coming up. The problems facing mobile networks could potentially be a thing of the past.
2. Security Through Transparency
Blockchain records every transaction, such that you can easily track any information you want if you so choose. With blockchain, it is impossible to falsify records or introduce fake information or transactions, because everything is connected. Blockchain has made it hundreds of times easier to categorize information, verify it and secure it all at the same time.
Furthermore, the system is impossible to tamper with by any unauthorized party without properly authorized and recorded permission. One party cannot interfere or threat with anything without the other being aware of it. In the mobile app world, this will definitely shake the industry to its core. Innovative apps with this level of accountability have been previously unheard of. Swindlers and greedy developers run amok, along with black hat hackers looking to take you for everything you have got. With an added level of security, blockchain will make apps that much safer to use.
3. Safety Of Digital Information Requiring Multiple Users
Blockchain has further revolutionized encryption. It is now impossible for anyone without a decryption key to fool the system. In-app development, this is a game changer when it comes to creating a platform that needs to be accessed by several users while at the same time needing user verification of information.
A good example is the banking or finance sectors. Some documents need multiple signatures. With blockchain technology, multiple parties can edit and access this information in a very secure environment without physical contact.
What this can do for the app development industry is equally staggering. Having a safe environment where multiple authorized parties can access information and edit it will go a long way in saving individuals and institutions time and money. For example, lawyers and bankers will no longer need to physically seek out clients. All you have to do is to append your digital signature on the relevant document on innovative apps and no one will question whether it was really you who did it.
These are just some of the ways that Blockchain is impacting app development. Blockchain technology is maturing at a rapid rate. It is inevitable that the blockchain and app development industries will merge. At the same time, with the rapid advancement of mobile technologies, more capabilities are being added every day. The ease of use and wonderful user experience plus access without additional resources is a pretty sweet deal, and app developers will definitely jump on this promise. Therefore, when you hear about blockchain technology, do not think only about cryptocurrencies. There is so much more that blockchain can do.
Jeff Jones is the Communication Manager of Ztorie, a video stories marketing studio. He has experience in the realm of digital marketing for almost 10 years and is very updated to the latest trends. When he is not working, you can find him socializing physically.