In short: Arman Sarhaddar answered a key question in his presentation at the Park Hyatt Hotel in Zurich: Why does ivault use blockchain technology? There are 6 benefits of the blockchain which you can read more about in this blog entry that comes with another video of the CEO and founder of Vault Security Systems AG.
Blockchain is more than Bitcoin. The distributed-ledger-technology (DLT) raises hopes beyond industry boundaries. The retail, logistics and financial sectors have already gained experience. Innovators try to disrupt traditional business models of the past and gain a competitive advantage in the market of the future.
But our application will go further and make use of the technology’s full potential…
Why do we use blockchain technology?
And why do we avoid to just rely on basic encrypted servers? There are millions of hacker attacks on encrypted servers per day. This tremendous amount of illegal activities is captured in this live graphic cybermap. By now, every tenth company in Germany is affected by these hackers’ attempts to steal data. In the US it’s no different story, as you can see in this Map of US ransomware attacks by comparitech (updated daily). Information security simply isn’t provided by common encrypted servers anymore.
So, in Arman’s words, we don’t do blockchain because there is such a hype building around blockchain, but because it is safe. It provides security for the costumer as well as the company, that can protect its supply chain against counterfeit with the ivault app.
In this video Arman gives 6 more reasons why we should use blockchain in general. Don’t forget to change the settings in the bottom right corner of the YouTube video to turn on English subtitles, if you don’t understand German. You can also read about this 6 blockchain advantages below.
6 advantages of blockchain technology
In the video Arman talks about 6 good reasons why we are using blockchain or distributed ledger technology and why it accounts for better data protection. In short, the highest possible cybersecurity is provided by:
- The distribution of data among nodes (computers). These nodes are connected to a global network and stand in as the “blocks” of the blockchain.
- The blockchain is therefore safe. One of the safest technologies in the world maybe. All entries are individually encrypted and secured.
- So, once data have been uploaded and entered in the blockchain, it cannot be changed, tempered with or manipulated anymore. It’s simply not possible.
- The anonymity, furthermore, guarantees that the blockchain is protected against external attacks.
- And this is the case for any kind of data, because everything is programmable. So any kind of data can be entered in the blockchain.
- A time-stamp is giving to every information stored on the blockchain. So it provides us with a really high transparency as well.
This provides the highest level of cybersecurity possible. It is guaranteed by these 6 main features of the blockchain, our future technology. The exclusive event at Park Hyatt was limited to a handful of extraordinary people, we are looking forward to work with. If you want to find out more about the insights given by our management team you can read more in our blog. There, you will also find
- CTO Martin Beyer about the ivault application and Golisan
Would you like to know more about how ivault.app works or are you missing something in the blog? Leave a comment in the comment section below. We are looking forward to answering your questions.
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6 Good Reasons to Use Blockchain Technology