While blockchain applications offer anonymity

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JoyuntoExpate
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Joined: Sat Feb 11, 2023 5:49 am

While blockchain applications offer anonymity

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Is widespread implementation may lead to the liquidation of some participants in the global financial system. Each node of the blockchain system stores copies of the entire database as a whole, and they are checked against each other. This makes the system viable even in the event of successful hacker attacks on its single nodes. the technology can be used to attach real identities to cryptographic identities in a database. A startup is known to have created a convenient way to securely enter data, track it and transfer property rights through a blockchain platform. This helps real estate firms: records management becomes more convenient, search time is reduced.

Confidentiality and transparency are increased. Another case is the reputation consumer email list system of Internet users, which accrues monetary rewards in the cryptocurrency ether, based on reputation indicators. Such IDs represent the transfer of personal data about a person to the blockchain, the creation of his digital profile. There is a large list of public services that can be accessed through the blockchain, and there are statistics from advanced blockchain countries (Estonia, some emirates of the UAE). The use of blockchain and blockchain-ID by an active citizen can become a common pattern of behavior already during the lifetime of the modern generation.

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Both in Russia and in the West states in recent decades have been actively looking for ways to optimize their administrative activities. A good solution for this would be to transfer all routine and archaic processes to the blockchain. At the same time, no one removed the issue of privacy and information security protection from the agenda - on the contrary, in the era of blockchain, it will become a priority. There are technological problems. First of all, scalability: today, many popular distributed ledger systems cannot process a large number of transactions, which leads to a slowdown in turnover and transaction processing in them. Another disadvantage is the lack of privacy due to the quasi-anonymity of the blockchain.
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