How Can Blockchain Make You Go OMG?

In the modern world of incessant tech innovations, anything that does not make you go “OMG” equals to bleh and boring. Now, most people who have gotten the hang of blockchain tech, will agree that blockchain can totally make you go “OMG!” How does blockchain even do that? Read on to find out.

Firstly, What Even Is Blockchain?

Blockchain is a very large database of information, stored across hundreds, often thousands of different computer servers across the world. What’s so incredible about that, you ask? Let’s find out one by one.

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Blockchain is Decentralized: You Control Your Own Data

Well, for starters this means Big Brother ain’t got nothing on you. There is no single all-powerful authority who pulls the strings of this network. It is decentralized to boot, giving you the reins of your own data.

The recent times have seen numerous controversies surrounding the ownership of data. Top honchos of tech biggies like Facebook and Google have been called to question about how they collect and handle user data and netizens have begun to wonder about how much access and control they are beginning to yield to large corporates.

With blockchain, all these questions are taken care of and you can control your sensitive data, be it in the field of finance or healthcare or anything else.

Blockchain is Secure: No One Can Break In Too Easily and Steal Your Precious Data or Assets

Security is definitely one of the key things we hanker after in the modern world, be it in the real world or the virtual one. Therefore, the fact that blockchain is so secure should definitely make you go “OMG!”

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It is so secure because every block of data is sealed impenetrably with a specific hash value. Each hash value is dependent on the hash value of the previous block, which means you have a robust chain nobody can really break into all that easily.

Does that mean hacks do not happen? No, they do. But by and large, blockchain remains one of the most secure forms of storage and data processing options out there.

Blockchain is Diverse: You Can Do Much More Than Just Exchange Bitcoins On A Blockchain

It is true that blockchain technology was introduced to us by Bitcoin founder Satoshi Nakamoto but blockchain has proved its worth in fields that go far beyond fintech and reflect its immense versatility.

On a blockchain network, you can record and track data related to a supply chain, you can build a shareable and comprehensive healthcare database, build an arsenal of digital identity tools and much much more.

In addition, you can use tools such as blockchain smart contracts and dApps to build a plethora of high-tech solutions for automating your insurance needs, building decentralized prediction markets and a great deal more.

Therefore, with its decentralization, high security and versatility of use cases down pat, blockchain is all ready to wow you and make you go “OMG”!

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