Cryptocurrencies come and go, and not all the coins that we see on trading platforms today will still be around in a year or two. Although several cryptocurrencies become obsolete each year, there is no denying that the coins and the underlying technology that runs them are here for the long term. Blockchain is expected to grow even bigger as the years go by.
People are into the popular cryptos like Bitcoin and Ethereum, and yet, they pay very little attention to a bigger fish—blockchain technology. Introduced by Satoshi Nakamoto in 2009 along with Bitcoin, the technology is slowly making its way into mainstream popularity as companies are digging deeper into how it could be utilized to create a safer network for the Internet of Things (IoT).
Investopedia defines blockchain technology as “a digitized, decentralized, public ledger” for cryptocurrency transactions. In essence, blockchain is the backbone of transactions, and many consider it as a safer and more private network. Blockchain’s unprecedented growth is causing numerous ventures into the sector, but what does it mean for the IoT, an entity which itself is rapidly growing as well?
To cut to the chase, blockchain isn’t out to replace the IoT; the former exists to supplement the latter. Forbes notes that there are a few benefits from combining the two technological wonders.
For one, blockchain can be used to find loopholes and weak links in internet transactions. Blockchain transactions can be tracked and analyzed by anyone with the authority to do so, and if there were any problems like leaks or hacks, it would be quick for people to find the root cause. It’s a freedom not felt on the internet as there are select organizations that can access the ledgers on the IoT.
What blockchain really brings to the IoT are privacy and security upgrades. People are now more discerning whenever they click on a website as the threat of being attacked by a malware is always present. Although blockchain will not completely remove these threats, the additional layer of security provided by a block will make it harder for hackers to get through.
Because of its potential, more companies are beginning to understand why blockchain is the future of the internet and one of those that truly understand the importance of the growing tech to the internet is Global Blockchain Technologies (OTCMKTS:BLKCF, TSXV:BLOC).
Global Blockchain could launch more blockchain startups this year at FFCON 18
The company is one of the catalysts for the growth of blockchain as it centers its endeavors on providing investors access to assets and startups in the industry’s space that have potential to become one of the leading innovations.
Through the various blockchain startups it houses in its incubation programs, Global Blockchain guarantees that the technology will be here to stay and innovate the way the internet functions. The company has made some amazing contributions to the technology, but it is far from done.
In a recent announcement, Global Blockchain revealed that it will be a media partner for the upcoming FFCON 18: VELOCITY to be held on March 5 and 6. The event will be attended by the latest innovations in blockchain. By being one of the media partners behind the event, Global Blockchain is gearing itself for a fantastic performance this 2018.
Global Blockchain’s recent announcement means a lot for the technology as the company could discover more amazing innovations at the event. It continues to rally behind the technology that is set to provide a better and safer internet. What this means is that we can expect to have more privacy and security online in the near future thanks to companies like Global Blockchain.
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