The Chicago blockchain community is gathered on December 8th, 2017 to hear some of the most influential blockchain voices in Chicago. The night’s goal was to demonstrate some of the technology behind the recent rapid gain in value of bitcoin, ether, and cryptocurrencies in general!
Moderated by Hannah Rosenberg, this blockchain panel features Joe Renz of NewMobility, Chang Wan Han of Purdue University, and Heather Sullivan of Marquette University. The topics include blockchain applications, the Internet of things, and educating university level students on blockchain technology.
Check out Part 1-7 of this event:
Image via Wikimedia Commons
Moving the Chain is an ongoing series from Blockchain WTF that shines a spotlight on folks who are making an impact in the world of blockchain technology and cryptocurrency.
Roger Ver has been investing in bitcoin-related startups since 2011. The voluntaryist (a person who works to achieve a free society through non-violent means) became a millionaire at the age of 25, after starting his own computer parts business.
Cryptocurrencies are gaining in popularity and is leading everyone to ask the same question: How can I keep my cryptocurrency safe? Taylor goes into the steps you take to make sure your crypto is safe and secure, all while maintaining control over your own wallet and funds.
The prices of tokens has soared lately, and I want to add some extra security. What are my options?
It’s great that you’re thinking about the future and how you can protect your cryptocurrency. The first thing to know is that there are varying levels of security with tradeoffs in terms of convenience. Many people use a hosted service, such as Coinbase, however these are custodial services where you don’t actually control the coins. If your account is shutdown for any reason, you have no actionable recourse outside the court system. That’s why blockchain enthusiasts prefer to control their own coins.
Cybersecurity Upgrades Lie In Blockchain
Blockchain has a plethora of benefits in the world of cybersecurity. Thanks to the use a peer-to-peer network (P2P), information is inherently more secure than on a centralized network. To give you a quick idea, a centralized network is a platform in which all information passes through a single point. A decentralized or P2P network requires data to pass through multiple points. So, a centralized network can easily collect data because everything goes to one place.
Lockheed Martin has capitalized on the concept of decentralization to up their cybersecurity. Cybersecurity is specifically the security of information associated with networks, platforms or the Internet. The well-known security and aerospace company chose to implement blockchain, in order to address the real issues with centralized security. They’re the first US Defense contractor to make a move towards the execution and use of the technology. Lockheed Martin specifically paired with Guardtime Federal, the leading blockchain cybersecurity company in the industry.
Decentralized Storage Is Key to Data Protection
A massive gap in security exists when storing data on centralized platforms. How many times have you heard about a company getting hacked? What about the huge hack that happened to Target a few Thanksgivings ago? Hacking is a real, prevalent issue in the world of centralized systems.
Blockchain technology, of course, provides an awesome alternative to the broken system of centralization. Because it exists on a decentralized platform, blockchain essentially negates any issues associated with a single platform. This owes to the fact that it relies on a peer-to-peer (P2P) network, or a number of computers. In contrast to a centralized platform’s single point-of-data, decentralized platforms exist within multiple-points-of-data.
Cybersecurity Issues Alleviated With Blockchain
Cybersecurity issues are cropping up as more people turn to the internet for everyday activities. Every single day, regardless of what centralized platform you use (such as Facebook or Google), your data is being collected in mass amounts. Since centralized platforms require all data to pass through a single point, they can easily collect scads of it every second of every day.
Your online identity is something that should be protected. Unfortunately, with the way technology is currently set up, there are gaping holes in terms of security. Blockchain, however, is a great way to up the security of just about any system. There are literally thousands of blockchain-based programs that allow you to increase your personal identity security. Truly, any cybersecurity issues can be fixed, or nearly so, by blockchain. (If you don’t know what a blockchain is, read about it here!)
Blockchain Provides Huge Strides in Healthcare Data
When it comes to healthcare reform, only one thing is certain: it’s going to be a tall task to complete. The recent change in administration has led to examination of current insurance healthcare data systems. Healthcare is poised to change, thanks to both the White House and Congress. This leaves the industry left with the question of how it is going to adapt to the rapidly changing healthcare environment.
Why Biometric Verification is Important in Blockchain Technology
Biometric verification is one of the hottest things on the blockchain horizon. Every person on Earth has specific features that are unique to an individual. Some of these features include fingerprints, the iris, ears, and even odor! Your body has markers that indicate you are you. In the United States, hospitals record births with finger and toe prints stamped directly to the birth certificate. Of course, this is now considered old-fashioned way to track the identity of people.
Financial institutions already implement biometric verification technology. A handful of them already require individuals to verify their identity specifically with retina scans or iris scans. This helps ensure that the person who is supposed to be accessing the account is actually accessing the account. Since biometrics are clearly something that is personally identifying information, it’s important to keep it close to the heart and not share that information.