The Blockchain technology itself is not controversial and has worked without problem over the years it has been running. In addition, it is successfully applied in financial applications as well as in other sectors.
The current digital economy is based on the dependence of a certain trust. Our online transactions depend on trusting someone to tell us the truth. It can be an email service provider that tells us that our email has been delivered or it can be a social network like Facebook that tells us that our publications have been shared only with our friends. Or it can be our digital bank that tells us that the transfer has been made successfully.
The reality is that in the digital world we trust in a third “person” the security and privacy of our digital assets. And the reality is that these third-party sources can be pirated, manipulated or compromised.
This is where the blockchain technology comes into play. Authentication and authorization, vital for digital transactions, are established as a result of the configuration of the blockchain technology. The idea of shared digital books can encourage users to protect and formalize digital relationships. It is a registration system that users can trust.
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