Resolving these competing visions of the digital future will be key to reining in cybercrime and defending data privacy from governments and Big Tech, but it will require the same kind of global response that precipitated the rise of the climate change activism. The truth is, if we want to save the internet from becoming the hunting ground of criminal bandits, dictators, demagogues and wealthy tech dilletantes with a political axe to grind, the public itself is going to have to take radical action.
According to the survey of the World Economic Forum (WEF), it is estimated that by 2025 almost 10pc of the global GDP information will be secured on blockchain technology. Furthermore, it is being expected that the global market of blockchain technology will jump over $39bn by 2025. The real estate sector is also among the beneficiaries of blockchain technology and it is being transformed in a numerous manner.
- Smart Contracts
- Managing Land Records
- Concept of Fractional Ownership
- Increasing Liquidity
- Blockchain and Smart Cities
- Harbinger of Efficiency
At its core, the problem blockchain seeks to address is to ensure the security and integrity of information at a time when there is increasing concerns about data privacy and declining trust in government. It is a technology that allows one to record assets, transfer value, and track transactions in a decentralized manner, ensuring the transparency, integrity, and traceability of data without a central authority to authenticate the information. It is essentially a system to encrypt information and a shared database. It is based on a consensus mechanism amongst trusted parties to certify the information and validate transactions.