BLOCKCHAIN & THE FUTURE OF DATA MANAGEMENT

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BLOCKCHAIN THE FUTURE OF DATA MANAGEMENT
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DATA STORAGE SYSTEMS TODAY
Personal solutions are often in the form of USB
keys, external hard drives, cloud accounts such
as Dropbox, etc. Enterprise solutions today
usually

• Are centralized

• Lack a clear trail of all activities related to
  them

• Characterized by hacks and theft attempts, often
  discovered months after the fact

• Consider Human / Corporate Strategy Culture
  elements as factors

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BLOCKCHAIN BENEFITS FOR DATA MANAGEMENT
Immutability
Blockchains provide a decentralized, immutable
and auditable solution for data storage and
management.

• High degree of security

• Blockchain-based solutions are highly secure and
  able to minimize the human error element of
  regular systems.

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REAL-TIME DATA PROCESSING
Financial institutions handle a large volume of
transactions and need to be highly secure to
protect the data of their clients.
The distributed nature of blockchains means
there is no single point of failure.
This will help identify malicious actions early
on and provide an auditable trail of all their
actions for authorities to view.
Enterprise / Private blockchains are as fast as
traditional blockchains so there is no lag in the
data -- the user experience remains the same.
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PRESERVATION OF DATA INTEGRITY


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They also make it very easy for auditors and
authorities to conduct audits quickly and
efficiently.
The very core of blockchains being
decentralization and immutability help
authenticate and track data at every point on a
chain.
The inherent security features they have are the
main assets for factors of data management and
maintenance of data integrity.
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CREATION OF TRUSTLESS ENVIRONMENTS
Blockchains provide a trustless environment
meaning the logic is programmed into the code,
the database is secured cryptographically and
decentralized and that results in an environment
where parties who dont know each other can
transact with each other without having to trust
anyone.
The trust is placed into the programs and the
platforms and thus there is no need to trust an
individual or party on the system.
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EASE OF DATA SHARING
Homomorphic encryption enables privacy-preserving
outsourced storage and computation, helping users
to transact using their information without
revealing the exact details of their information
-- this will have a big impact on privacy in the
future.
Owing to blockchain's ability to provide many
people access to data at once and in real-time,
information sharing becomes more seamless and
smooth.
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POPULAR TRENDS LIKELY TO TAKE CENTERSTAGE
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WHAT DOES THE FUTURE HOLD?
Blockchain-based data storage and management
systems are the future.
They make databases more secure, de-centralize
control and points of failure, and make
interactions fully auditable.
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