Data authenticity is by all means one of the major factors that retail should sustain, and hence, data security is a prime focus here. Use of a single database storage or a third-party server often implies the risk of data loss or compromising as it conveys consumer banking and personal information. And here blockchain brings to the table its distributed ledger technology when all information is shared within the retailer’s authorized working stations. In blockchain, data can be programmed to be automatically verified for compliance; each important operation requires approval by all authorized participants. As a result, data cannot be changed or compromised, each action can be traced back to the origin, and information cannot be lost since it is duplicated on multiple machines.
Having premised so much of financial markets regulation on the presumption of intermediation, it may be useful to consider the need for new rules and formal amendments aimed at achieving the longstanding regulatory goals of promoting investor protection, facilitating capital formation by establishing fair and orderly markets, and mitigating risks that disrupt and destabilize markets.
the true decentralization is based on the direct user to user communication. This way of communication solves the privacy and censorship issues of the centralized communication.
An implementation of a true decentralization may still use a blockchain – not as a central element but as a support element in the implementation.
A successful true decentralization project must include the following mandatory elements:
- minimum decentralized identity
- decentralized network of bridges/nodes
- personal decentralized web site
Worldwide cloud data storage is increasing at a dizzying pace. Some of today’s most valuable companies are getting rich off of their high margin cloud computing units such as Amazon’s AWS, Microsoft’s Azure, and Google Cloud. Protocol Labs IPFS which allows cryptographic hashing and the scaling of level 2 blockchain protocols, along with the dApps that sit on top of them, are likely to grow exponentially over the next decade. Additionally, users from around the globe will look to and for a Web3 cloud storage solution that can safely, cheaply, and reliably store their data. FileCoin and IPFS are likely to be the go to solution for Web3 data storage and retrieval going forward thanks to the many early adopters who use FileCoin and to the opensource platform that allows developers to integrate applications and innovate with the protocol.
Now, the infrastructure is emerging that allows video storage and distribution to happen in a decentralized way, making it resistant to censorship. In itself, this is a fundamental shift from the way that we consume video today. However, by introducing the ability to create video-based NFTs of the length of an entire TV show or movie, the shift becomes even more significant.
Thanks to the availability of services like Storj and Filecoin, such a paradigm shift is now underway. By combining a video NFT creation platform and marketplace with decentralized file storage capabilities, there’s no need to depend on Ethereum or on any of the centralized data providers like AWS.
“I think Web3.0 is the change that’s long overdue for the internet. As I see it, Web3.0 will make it as decentralized as its pioneers first wanted it to be. Thanks to the invention of blockchain technology that we now have the right infrastructure to support a decentralized web.
Web3.0 will be a revolution in itself. It will be truly free, democratic, and built for the people.”
The integration of blockchain in health insurance is a key trend gaining popularity in the global healthcare insurance market and thus the hospitalization insurance market. The incorporation of blockchain in health insurance provides many benefits, such as enhancing integrity and protection by offering better control of patient data, reducing regulatory and enforcement costs, and maximizing interactions between health practitioners, insurance providers, and insurers.
Web 3.0 is an internet where information and value flow in an integrated manner and where no permission is needed from a central authority to participate. The rise of technologies such as distributed ledgers and storage on blockchain will allow for data decentralization and create a transparent and secure environment, overtaking Web 2.0’s centralization, surveillance and exploitative advertising.
Facing the repercussions of several rounds of layoffs, IBM director of public relations Holli Haswell said that the “blockchain business is doing well” and that some changes were made to the unit to “continue to drive growth. IBM maintains a strong team dedicated to blockchain across the company. We changed some resources, but we remain committed to blockchain technology, ecosystem, and services. We see blockchain as a driver for our cloud business.”
Ant Group, the financial technology affiliate of e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) retained its spot as the largest holder of blockchain patents in 2020, according to a report by International Asset Management that cited data from Clarivate’s Derwent World Patents Index or DWPI.
What Happened: Research published by IAM showed that Ant Group retained its top spot on the index, which aggregates patents filed for both quantity and quality, CoinDesk first reported. The rankings are dominated by Chinese companies, which lead the way in terms of blockchain patent filing volume.