Mobile technology has a need for this type of systematic approach as well. As it stands, most systems, not just mobile networks, use a client and server side system. The phone and mobile app act as a client, and a central server distributes data upon requests. Mobile networks are stressed heavily millions of users flood the channels trying to get data wirelessly. This can cause some information to be lost. With more advanced storage and data streaming coming with blockchain technology, this could potentially be improved upon.

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Transparency Creates a More Secure Environment

With blockchain technology, everything is recorded in such a way that the information is easily tracked by its users. This makes it so that it is impossible to create fake transactions or falsify information. Because of this, users don’t have to trust each other. The system is completely impervious to tampering to benefit one party without equal action from another.

Encryption is also very complex with blockchain technology. It’s so complex that it makes it impossible for anyone without a decryption key to fool the system. This lends itself to any system that requires giving access to multiple users but also needs verification of information that is adjusted.

 

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For instance, in the legal and financial sector, it’s common to need multiple signatures on a contract or document. Through the blockchain, this information could be edited and accessed all at once by multiple parties without anyone need to communicate with each other. The only verification required would be analyzing the blockchain and seeing the adjustments made.

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