Recap: According to cybersecurity expert Thomas Carter, while blockchain technology offers a tamper-proof ledger of distributed transactions, it is not immune to cyber attacks. Attackers have been identifying vulnerable points in the blockchain since its inception in 2008, using various methods such as transaction malleability, distributed denial of service, time jacking and routing and sybil attacks. No industry is entirely safe from these threats, with vulnerabilities most commonly seen in small businesses, healthcare, higher education, energy and government sectors. To protect themselves, businesses must allocate sufficient resources and funding for cybersecurity software, with private blockchain networks requiring special attention towards a globally distributed network to ensure continuous operation even during a breach or natural disaster.
Month: June 2023
Blockchain beyond Cryptocurrencies: 6 Real-World Applications
Recap: While blockchain technology has been primarily associated with cryptocurrencies, its potential for wider application is often overlooked. Blockchain’s decentralized, secure and transparent nature can be used in multiple industries ranging from supply chain management to voting systems. IBM’s Food Trust uses a blockchain system to track food items for improved traceability, while blockchain systems offer a decentralized solution for data ownership and privacy concerns in the healthcare industry. Similarly, the banking and finance sector benefits from integrating blockchain networks, and it can rid the inefficiencies of manual documentation and inefficiencies in property records. Finally, blockchain provides a reliable basis for transparent, tamper-proof voting systems, while smart cities rely on blockchain to optimize operations and enhance security.
Blockchain-based AI Computing provider Gensyn Raises $43M in Series A Funding Round Led by a16z
Recap: Gensyn, a UK-based provider of blockchain-based computing resources for artificial intelligence platforms, has secured $43 million in a Series A funding round led by venture capital firm a16z. The company’s protocol enables developers to build AI systems on smaller data centers, personal gaming computers, and other connected hardware, and pay on demand. Gensyn uses a cryptographic verification network to allow users to determine that machine learning work shared over the protocol has been finished correctly without intermediaries. The company will use the fresh funding to accelerate the introduction of the protocol and expand its workforce.
Blockchain for Transparent and Efficient Healthcare Systems
As the healthcare industry keeps evolving, the pressing need for transparency and efficiency also continues to grow. Fortunately, several technological innovations, such as Blockchain, are reshaping the healthcare sector and transforming the way data is gathered, stored and processed. With its secure and decentralized online ledger, Blockchain technology is revolutionizing the healthcare industry by ensuring data transparency, security and accessibility, thus promoting better communication and collaboration between all stakeholders. In this blog post, we will explore the benefits and capabilities of Blockchain technology in healthcare systems and how it can facilitate better health outcomes.