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Blockchain, A New Foundation For Digital Trust?

– In Groupe

  • Viewpoint
  • Posted by Good ID team (Good ID)
  • 13 March 2021

How blockchain technology works and why it could vastly improve trust online

This article from In Group explains how blockchain - known in France as DEEPs - is formed by a network of autonomous and decentralized computers. It states that blockchain can be used for a wide range of purposes including financial transactions, digital contracts, e-voting, and supply chain management.

“The DEEPs offer optimum tolerance to possible data loss or corruption: all information exchanged is duplicated and available on every computer in the network. They cannot be modified or deleted without the unanimous agreement of the other computers.”

The author argues that the interoperable and decentralized natures of blockchain means they can be used to improve many aspects of our digital economy and online experiences.

To sum up and in many uses, blockchain technology makes it possible to reduce the number as well as the degree of intervention of traditional trusted intermediaries: in theory, it allows the emergence of a new revolution in digital trust, while guaranteeing optimal technical and cryptographic trust for all its users

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