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Blockchain Technology
31 January, 2021: By Ajoy Maitra

Internet serves as a revolutionary change to the digital advancements of the world, enabling real-time and fast paced applications in the daily lives of common people. Blockchain technology has long been in the discussions as industries are modifying their digital approaches.

Complications involved in such blockchain technology ensures complete security within a chain of data, structured in attaining transparency. There have been histories involved with its invention, since 1991, however, developer under a ficititious name of Satoshi Nakamoto, has released white papers entitled as "Bitcoin: A Peer-To-Peer Electronic Cash System", leading to the establishment of a Blockchain Model.

As the need for digitalization has emerged in transforming various sectors of the world, the need for security further enhances its requirements. As per the latest report by Accenture,


The number of leaders spending more than 20 percent of IT budgets on advanced technology investments has doubled in the last three years.... Failures lead to gaps in protection, lower detection rates, longer business impact and more customer data loss.

BLOCKCHAIN SECURITY

Blockchain Security

Blockchain technology uses hash for securing each blocks while storing the previous block's hash thereby creating a chain of blocks containing datasets stored within. It involves decentralized facility as the digital ledger of records are distributed among the participants of a blockchain transaction.

A blockchain is either defined to be public or private depending upon the permission granted to participants within the network chain. Once a block is validated through the process of complex calculations, the same can never be altered without the consent of all the participants in the network. Such creates an impossible to breach system within the blockchain technology ensuring security in performing various tasks.

A latest survey for the year 2020, by Deloitte on Global Blockchain reveals the emergence of blockchain technology in various sectors, further noting the detailed insights,


Thirty-nine percent of global respondents have already incorporated blockchain into production. This is a significant increase from 23% of respondents signaling production last year... Fifty-five percent of responding organizations view blockchain as a top strategic priority, an increase from 53% in 2019 and 43% in 2018.

BLOCKCHAIN APPLICATIONS

Blockchain Application

Blockchain technology has varied applications in Financial sectors to other sectors as in Production, Supply, Manufacturing. At the latest, numerous startups are stepping in the forefront with their technological advancements related to Blockchain or Artificial Intelligence and Machine Learning.

Blockchain based Communication-Platform-as-a-service (CPaaS)

Cloud computing has been the major catalyst in digitalization of sectors amid the COVID pandemic in 2020. Modifying such with advancements to AI and ML, edge computing further showcases potential for real-time data transfer and communications enabling user experience to a marvel.

Communications as a service offers users with the messaging and other features to enjoy maintaining social relations. Relative to that, Communication-Platform-as-a-service offers the developers with the in hand API integrated with best preferred application experience in providing a real-time cloud based communication platform. It opens the door of varied opportunities to organizations for interacting with the customers on preferred platforms as voice, video or chat messaging without costing much to build an expensive support infrastructure for the same.

With an increased popularity of such, at the latest news, Tanla Platforms Limited has partnered with Microsoft to enable a blockchain based Communication-Platform-as-a-service (CPaaS). The platform named 'WISELY' is built on Microsoft Azure Cloud and has been developed by Microsoft providing a global edge-to-edge compting facility in delivering private and secured communication experience. As per the Chairman & CEO of Tanla Platforms Ltd., Uday Reddy,


We're excited to launch Wisely, our new global platform powered by Microsoft. It is a gamechanger for enterprises, mobile carriers, OTT players, marketers, and industry regulators. With the launch of Wisely, Tanla continues to be a market leader in the domain of commercial communication by enabling trusted customer experiences.

Blockchain in revolutionizing FinTech and Healthcare

Enhanced with the applications of blockchain, FinTech and Healthcare has the potential of further advancements with data integrity and security. Rather than relying on a single source of data to be valid, a full history of transactions saved and shared within the participants involved in the transaction facility, would enhance such data integrity as thus can never be manipulated without further consent.

Blockchain enables exactly the same for the financial transactions as well for the data stored in healthcare facilities. Along with such, automation eliminates potential errors or disruption of services combined to a secured accounting system with no added costs involved.

A recent study on the application of blockchain in banking system, Juniper Research has further stated the report,


blockchain deployments will enable banks to realise savings on cross-border settlement transactions of more than $27 billion by the end of 2030, reducing costs by more than 11% per on-chain transaction.

Blockchain for changing the Fundamentals of Gaming

Gaming as an industry has a great uprising at the latest COVID lockdowns when people preferred mostly to stay at homes and fulfill their leisure, indulged into gaming. As gamers are already familiar with the potential risks or disruptions involved, blockchain reserves potential solution to such in securing online gaming.

Showcasing how blockchain technology has a fundamental change to the online gaming industry, 'Token Gama' has developed a pioneering gaming ecosystem thereby uniting all the participants in real-time. Furthermore on providing a decentralized online gaming world, powered by blockchain, Token Gama ensures security form the unwanted intervention of hackers and maintaining transparency on the analytics of gaming.


Enhanced services provided by 'Token Gama' ranges from the following list as declared in their website,

Game Wallet

Game Play

Game Bot

Game Dex

Game Ecommerce