Table of Contents 64q43
If in the 1990s, for example, someone said that in the XNUMXst century we would make payments, purchases and bank transfers via the internet — something that wasn't even popular at the time — without leaving the place, using a specific, digital currency, very probably no one would believe or think that this was part of the plot of a movie, right? 6g5c66
The fact is, today it is possible to carry out various financial activities using digital assets such as cryptocurrencies. What seems like a fanciful idea to some is now reality. However, it is necessary to ensure that these actions are carried out safely, easily and quickly. And it is in this scenario that the blockchain.
Check out this article for all the details about the blockchain technology.
What is blockchain? z414c
Blockchain is the name given to a database technology that enables the sharing of information across a company's service network, quickly, securely and transparently.
The objective of the system is to automate and optimize the work routine, sending and receiving financial or non-financial information, as blockchain can also be used in areas such as logistics, education, health, waste management and supply chains.
Ok. You may have already read or even worked with other data storage and transfer systems similar to blockchain. However, in this case, the functioning of the system does not depend on traditional institutions and business networks, such as banks.
Here, the system resembles a block structure, where each block of information is connected to the previous one and a subsequent one, forming an irreversible chain that prevents changes, deletion or insertions of new chains.
As a result, the system reduces risks and costs in direct transactions and enables more effective monitoring of orders, payments, s and other transactions. Another important point is that the blockchain has integrated mechanisms that prevent unauthorized transaction entries and create shared monitoring, preventing malicious activities or activities that put data at risk.
How did it come about? 83333
Despite seeming something recent, the resource emerged around the 2000s, driven by the search for innovation and security measures in the digital world that was developing at a rapid pace.
The first blockchain records are linked to the best-known digital currency, the Bitcoin created by Satoshi Nakamoto, in the first decade of the 2000s. As it is a new form of transaction without financial intermediaries, such as banks, it was necessary to create mechanisms capable of ensuring that movements in the virtual world flow safely and quickly.
The success of bitcoin opened doors for the advancement and popularization of blockchain technology. In a short time, it was realized that the system could be used in other areas of the economy and also in the management of different businesses, becoming a way to boost different sectors.
Whats the matter? 4e6s5t
Imagine that you are independently negotiating the purchase of a car. In payment and documentation procedures, the person selling the car claims that you did not transfer the agreed amount, but you made the payment. And now, how to prove it effectively and without the need for third parties?
If this case had been carried out through blockchain technology, both parties would have received a ledger, a record, which would be sent to you, the buyer, and the seller. This way, the purchase would be approved and proven by both parties automatically and irreversibly.
But, if one side tried to modify the documentation made through the blockchain, the entire ledger would be corrupted, and the fraud would be easily discovered.
The main features of the technology are security and transparency. All activities carried out within the chain are recorded and can be monitored by everyone involved.
How does it work? 6j3466
In free translation, blockchain stands for blockchain and is exactly how the system operates. The technology uses a database that stores information in interconnected blocks that work in a chain. Calm down, let's explain.
Blockchain is a mechanism whose main capability is the automation of transaction steps. To better understand, let's divide the steps into four, and they are:
1st transaction record: movements carried out on the platform are recorded in data blocks. The information is complete and includes details such as: who are those involved in the transactions; what, where and why occurred; volume of assets exchanged and how many preconditions were met during the transaction.
2nd network consensus: For the transaction to take place, it is necessary to who the participants in the action are, because it is necessary to have consensus from everyone involved to carry out the activities. Authorization may vary from one process to another, but the rules are defined at the beginning of the transaction.
3rd interconnected blocks: After all transaction participants reach consensus, the information is recorded in new blocks, with a hash cryptographic, mechanism that interconnects all blocks. Therefore, if any content of any of the blocks is changed, the hash it will also be, enabling the detection of data breaches.
In short, each block guarantees the verification and security of previous blocks. Just like stacking bricks, for example, when one is removed, the entire structure is visibly damaged.
4th sharing ledger: everyone involved in the transactions receives records of the transactions.
benefits and advantages 3b2747
In addition to its use in cryptocurrencies or other financial areas, blockchain can also be a great ally in the management of other businesses, such as:
Logistics: simplifies and optimizes product tracking, providing visibility to the entire inventory chain. To do this, it uses smart contracts and immutable records. Everything is done transparently and automatically, without the need for intermediaries and reducing the risk of failures and costs.
Education: contributes to the management of academic records, promoting a transparent and efficient way of storing and ing the authenticity of diplomas, certificates and transcripts. This makes it impossible to falsify documents and speeds up the progress of internal processes such as transferring credits between institutions and academic mobility.
Cheers: Through blockchain, it is possible to create secure and decentralized hospital management platforms, allowing the efficient and secure sharing of medical information between healthcare professionals and institutions. This optimizes the coordination of treatments and strengthens the privacy and security of patient data.
Entertainment: Blockchain technology is also being implemented to ensure authenticity and transparency in ticket sales for shows and events, acting as an anti-fraud mechanism and offering a safer experience for spectators.
Where do you find Blockchain? x704k
In addition to the business world, blockchain technology is present in many everyday moments, from g documents, publishing content on streaming platforms, validating diplomas and even providing technical assistance to services, for example.
In recent years, citizen services offered by Federal government can be requested and accessed through official channels integrated into the gov.br. When accessing the website, the can view identity documents; request services or check the progress of processes. That is one blockchain mechanism, which ensures that all data from more than 130 million ed are stored and accessed in a safe and practical way.
However, blackchain is more visible behind the scenes of services. The streaming companies Spotify and Sony Music Entertainment Japan uses the mechanism to optimize the licensing processes for music and other audio files.
Still in the world of entertainment, the system is also used to issue concert tickets, for example, which prevents the fraudulent sale of fake tickets. The application Guts uses blockchain not only to sell smart tickets, but also to evaluate s' tastes and provide products consistent with customer preferences.
Check out other ways to use blockchain:
Crypto Signals Room 5b6x42
The most common use of blockchain technology is in the exchange and mining of cryptocurrencies. The entire process is generally done using public software, where it is not necessary to have access permission and the entire transaction is visible to all network participants. However, it is important to emphasize that even if the blockchain is public, the maximum security remains.
NFTs 463j
Some time ago, a new term for digital assets emerged, the NFT, abbreviation in English for Non-fungible tokens. In short, NFTs are unique and digital items and can be art, music, photos, videos and even collectible items that do not exist in the real world, only in the digital sphere.
NFT Tokens are created on blockchain platforms, a safe place and ensures that the virtual good is unique, using the software's digital resources.
An example of this digital asset are the fan tokens, cryptoassets that offer new ways of interacting and engaging with favorite sports teams, idols and events. When purchasing the digital product, you can vote in polls for your team; Participate in the uniform designer decision, win prizes and collect XP to exchange for VIP tickets.
In 2023 the Socios.com, a European company with an office in Brazil, presented s of the Fan Tokens platform with a Digital Collectible. The item was made based on customer preference data, and each customer received an item based on the fan's personality.
Digital Contracts 1dp51
An application of blockchain that few know about is document processing. The service can be a way to optimize the monitoring of contracts, invoices and other important files for the operation of companies.
In the case of ission contracts, for example, everyone involved receives the documentation and can carry out the bureaucracy within the system. Another way to use technology is in the payments sector. When realizing that something is pending, the system can check what happened and validate the documentation quickly and automatically.
Is this the end of the paperwork?
Financial transactions f6s6f
The technology even caught the attention of traditional financial institutions such as Itaú, Santander e National Bank for Economic Development (BNDES) that use blockchain to secure international financial transactions and the processing of contracts.
Cloud Storage 6e342l
Blockchain can also be used for cloud storage. In addition to security in the processing of files, the technology has a more affordable price than traditional services. Recently, the Google ed the system Blockchain Node Engine ao Google Cloud.
Supply Chain 1b6b4v
Supply Chain or logistics chain management, as it is better known, also uses the mechanism to improve delivery services, for example.
When you order a pizza on a delivery app, you can view the stock; know what the components of food are; make payments and monitor delivery, in addition to communicating to the supplier about possible problems with the service or pizza. This is blockchain aimed at B2C businesses.
From a B2B perspective, the system can be a great ally when it comes to understanding and solving customer pain points. The blockchain has the ability to collect, analyze and interpret the information that is incorporated into it. This means that processes are evaluated thoroughly and automatically.
The future of Blockchain 4c443b
The future of blockchain is promising and goes beyond just being the infrastructure for cryptocurrencies. According to a report from International Data Corporation (IDC), blockchain is rapidly expanding to encom other markets beyond the cryptocurrency space.
Until the end of 2024, companies around the world are expected to spend around US $ 19 billion in the adoption of solutions based on blockchain. With increasing digitalization and the search for more agile and secure processes, blockchain will continue to play a crucial role in several sectors. Furthermore, the blockchain industry is projected to reach a value of $ 163,83 billion by 2029.
Conclusion 60664y
Blockchain technology has proven to be a powerful innovation, going beyond its initial role as the basis for the functioning of cryptocurrencies. As companies and new industries explore its capabilities, it is becoming clear that blockchain is much more than just a shared, immutable ledger.
It offers security, transparency and efficiency in business processes, tracking assets and ensuring the reliability of transactions. As digitalization advances, we can expect blockchain to continue to play a key role across industries, creating new opportunities and transforming the way we do business.
Source: Amazon ; Fan Tokens, Bitso, Serpro e Coinext.
See also:
Samsung Blockchain: Cryptocurrency Management and Storage Solution Arrives in Brazil
