The world is quickly catching on to the idea that blockchains are distributed databases, and as that idea takes hold, several revolutionary use cases for the long-misunderstood technology are emerging.
From cybersecurity tools that instantly detect network intrusions and hacks to apps that make it possible to trace goods through the global supply chain with total precision, utility blockchains are the essential infrastructure that will secure the future.
Securing the future is a key theme at this year’s London Blockchain Conference, which will be held from May 21 to 23 at ExCeL London. Those interested in learning more should secure tickets and join us!
A globally distributed timestamp server
Every transaction on a blockchain is timestamped on a public, immutable ledger for all to see. The records can’t be altered without consensus from the nodes, and even when they are, the original records aren’t erased but are simply appended.
While most people can immediately see how much ledgers could be used for more transparent payments, enterprising entrepreneurs and governments tasked with securing their nations are beginning to realize how this powerful technology can be used in other ways.
Take Sentinel Node, a pioneering cybersecurity tool by Certihash. This tool takes snapshots of computer networks and files and timestamps hashes of them on the BSV blockchain. Any unauthorized network access, file alterations, or other hacks are instantly detected, and alerts are sent to network admins whose corrective actions are also logged. Hackers rely on deleting logs on their way out the digital door, but that’s impossible on a distributed database. Furthermore, the average network breach takes 221 days to discover, but Sentinel Node reduces that to seconds. The positive impacts of a tool like this are self-evident to any cybersecurity expert.
However, utility blockchains can and are being used across all industries. Trace App, a tool developed with IBM (NASDAQ: IBM), makes supply chains more transparent. nChain, a British IP firm with one of the largest blockchain patent portfolios in the world, makes it possible to write data to the immutable ledger with its innovative Kensei tool. Wall Street tycoons like BlackRock’s Larry Fink are beginning to explore how to tokenize financial assets on blockchains.
Yet, all of this is just the beginning. Eventually, a scalable blockchain will underpin the Internet. The combination of IPv6 addresses and micropayments makes true peer-to-peer transactions possible at scale, and each will have a timestamped record on a global ledger—an immutable record of truth. Combined with concepts like Bitcoin-certified addresses, all of this will make for a more secure, robust internet.
Join us at the London Blockchain Conference to learn more
The London Blockchain Conference 2024 will be held at ExCel London from May 21 to 23. Everyone interested in real-world use cases of blockchain technology is welcome to attend, and those with applications harnessing the power of this revolutionary tech are welcome to speak about and showcase their products.
Get your tickets to the London Blockchain Conference while they last. It’s a once-in-a-year experience to mingle with like-minded people at the cutting edge of the industry. We hope to see you there!
Watch: The wave of enterprise adoption
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