3/3/2022 - Technology and Innovation

Blockchain: between two worlds

By Horacio Gustavo Ammaturo

Blockchain: between two worlds

In the world of digital communications there are two well-defined domains: that of private networks and that of public networks.

In the world of private networks, security and quality of services are pursued, objectives that inevitably generate high costs in construction, operation and maintenance of infrastructure. This is the case of banking or corporate point connections. Restrictions of access to them are part of the data protection logic that they seek, as a result of the scalability of their use, inevitably depend on the intervention of centralized platforms and computer technical personnel of exclusive dedication, which makes them extremely expensive.

On the other hand, public networks are found, the Internet is the queen mother, because through it they are simply and economically linked billions of clients or participants in simultaneous form. The ease of access and low cost to operate through the network make the public network the most frequent alternative, but also the most vulnerable. Cyberattacks are frequent and data theft is part of the daily routine. Operators and companies that carry out Internet transactions must take high costs on cybersecurity platforms and, still, from time to time, some hacker can penetrate centralized databases, including those managed by the governments of the most technologically developed countries in the world.

Each of these solutions enjoys fanatics and detractors, supported mainly in the unawareness they have on the theme who make decisions and in many opportunities the operational realities make them communicate and coexist structures that merge or at least bind both, making them more vulnerable to what is intended to be stagnated.

However, a few years ago, there is an alternative that allows you to take advantage of both solutions without resigning money or computer security.

We probably associate the concept of Blockchain with cryptocurrencies, particularly with Bitcoin, but as in Mary Shelley's novel, if Bitcoin were Frankenstein's monster, Blockchain would be the father of the creature. As in the work of terror the protagonism of the creature has opaque the importance of its creator, a scientist who from parts of lifeless bodies can shape a new living being.

Thanks to the possibility of this technology to organize encrypted data and make them safely circulate through public networks the needs of computer infrastructure and costly cybersecurity platforms are drastically reduced. In addition, your project allows you to provide accessibility and quality of service anywhere, as you use the Internet for your routes.

Block chains, in addition to the algorithmic logic used, will occupy a fundamental space in the lives of people in the coming years, as it allows to distribute unique and valued documents safely within an open and low-cost scope.

Let's see some of the applications you can use.

a) Emission of digital assets, being perhaps the best known of the uses of block chains. Bitcoin, Ethereum or Stellar are some of the thousands of cryptocurrencies that record their transactions through this technology.

(b) Emission of participations in digital format. To define new participatory forms both in businesses, companies or assets that can be easily transmitted, fractionable in infinite form, whose quotation can be verified permanently giving the possibility to small hobbyists and investors to be part of major projects.

(c) Digital identity. By generating unique, unmodifiable, super-secure and simple-access documents through public networks can generate identity documents for people or identifications so that they simply and economically check the characteristics of the carrier.

d) Physical fitness documents or capacity certificates. The importance it has for people and society as a whole has verifiable and inviolable documents on health-related issues and health should comply with the premise of preserving the intimacy and confidentiality of people without it representing endangering the rest. A Covid test or vaccination certificate registered under this technology allows health authorities from around the world to access decentralized, safe and confidential databases, giving ownership of access to the certificate exclusively to the carrier, which will display it to the authorities requiring it.

e) Certificates of authenticity. Certainly, in the very near future, the luxury products, the inducing produced by the leading and most exclusive brands or the most coveted watches come with their associated Blockchain, which will allow with just approaching a phone to verify the legitimacy of the product, protecting manufacturers, marketers and mainly customers.

f) Activations. Both public and private entities may issue their licences or authorizations in a safe and inviolable manner. Cards, printed or even stacks that can be copied, scanned or removed have lost value as a verification instrument.

g) Access controls. We are used to seeing in the movies as thieves or spies modify the access cards to restricted places simply by changing a photo or printing a new card. Being the key to accessing an encrypted database, stored in distributed and inviolable form, changing the photo of the document is an impossible task and the traditional card becomes an exclusive access code.

h) Transparency in processes, as it allows you to adopt documents and data of all types to certificates that georefer and identify the time when the load occurs, thus preventing you from modifying a process or even extraviating.

(i) Traability in production, when associating location, time and stages of successive production blocks can be generated successive advance certificates that value processes and the environment. It will be essential to audit, together with control elements such as IOT devices or the Internet of things, for example the production of organic food or the final disposal of toxic waste.

j) Within the world of finance Blockchain allows you to design open or closed ecosystems to carry out non-bank money transfers by reducing transaction costs and giving you the possibility of access to transactional systems to both non-bank people and those who take on large costs and fatter steps to open and maintain your accounts.

k) New forms of collectibles and online games. Through this technology we can issue collectables with unique attributes, which in addition to allowing to participate in new coticen games in markets and serve as a value reserve.

(1) Issue collectable e-tickets that allow you to access events and spectacles, which are also transferable generating benefits for event organizers through fees per transaction. In this way, buying anticipated entries can be a business for both show promoters and investors and aphorists who anticipate their money to expect re-evaluation as the date approaches. But it can also be a value reserve once the show is finished, because by its digital character, numbered and inviolable can easily give the quality of collectable.

And the list can remain endless.

Blockchain is the digital notary that allows to give electronic documents, processes and procedures a control of superior authenticity, even if any human can offer, because the inviolability of the system evidences both the information that is registered, the place and date and obviously to those who do the load.

It is an eco-friendly technology, as it represents a step further towards the elimination of documents in physical (paperless) format, because everything passes in micro encrypted clouds accessible via the Internet, also reducing the investment and pollution that produce the computers when they come into disuse, because the records rely on the remaining capabilities of decentralized processors.

And on all things it presents very reasonable costs.

By all these attributes, Blockchain may be the most transcendental computer development since the invention of the Internet, as it re-evaluated the use of the public space within it, generating exclusive and confidential freeways at low cost.

The best of both worlds.

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horacio gustavo ammaturo

Horacio Gustavo Ammaturo

I am Gustavo Ammaturo. I have a degree in Economics. CEO and Director of infrastructure, energy and telecommunications companies. Founder and mentor of Fintech, DeFi and software development companies. Blockchain Product Designer.

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