Blockchain the revolution in data management & security

1. BLOCKCHAIN
SEMINAR

2. BLOCKCHAIN
● It is a distributed database that is shared among the nodes of a computer
network
● As a database it stores information electronically in digital format
● This are best known for their crucial role in cryptocurrency systems, as it is
used for maintaining a secure and decentralized record of transactions
● The innovation with a blockchain is that it garrenties the fidelity and security of
a record of data and with trust without the need for a trusted third party

4. How blockchain work ??
● A database usually structures its data into tables, whereas a blockchain, like
its name implies, structures its data into chunks (blocks) that are strung
together.
● This data structure inherently makes an irreversible time line of data when
implemented in a decentralized nature.
● When a block is filled, it is set in stone and becomes a part of this time line.
Each block in the chain is given an exact time stamp when it is added to the
chain.
● Each block has its hash (a code secure like fingerprint) and the hash of
previous block and the data stored in it

6. SOME OF EXAMPLES
● Proof of insurance—Nationwide insurance company is currently testing a
blockchain solution to provide proof-of-insurance information called RiskBlock.
Ultimately, when this tool is fully deployed it will help law enforcement, insured
and insurers verify insurance coverage in real time and accelerate claims
processing.
● Spotify—When Spotify acquired blockchain startup Mediachain Labs it was to
help develop solutions via a decentralized database to better connect artists and
licensing agreements with the tracks on Spotify’s service.
● IBM Blockchain—Knowing the status and condition of every product on your
supply chain from raw materials to distribution is critical. Blockchain for supply
chains allows transparency with a shared record of ownership and location of
parts and products in real time.

7. ADVANTAGES
● Transparency
Users or developers have the opportunity to modify it as they see fit. This
makes blockchain a particularly secure technology.
● Reduced transaction costs
Blockchain allows peer-to-peer and business-to business transactions to
be completed without the need for a third party. it means they can
actually reduce costs to the user or businesses over time.

8. CONTINUE…..
● Faster transaction settlements
Blockchain technology is working 24 hours a day, seven days a week,
meaning blockchain-based transactions process considerably more quickly.
● Decentralization
Blockchain actually allows individual transactions to have their own proof
of validity and the authorization to enforce those constraints.

9. THANK YOU