Blockchain: Data Transparency and Inviolability
Transactions in today's digital economy is a complex undertaking involving supply chains, a great need for integration, points and various online services.
Trusted business relationships depend on data sharing and transaction verification.
Blockchain technology allows data to be shared securely and transparently between different parties. Updates are only made after consensus between the parties, ensuring data integrity. Furthermore, only authorized users can view the data and the blockchain stores auditable information, which can be encrypted to ensure privacy.
Until a few years ago, there was no way to verify the authenticity of data or the execution of transactions without the use of intermediaries.
Blockchain and smart contracts business rules enable automated updates and reliable transactions across participating organizations.
See below the main characteristics of blockchain technology:
Blockchain Application Use Cases:
Health
The blockchain can be used in the health sector to guarantee the security and privacy of patients' medical data. Medical records can be shared between different healthcare professionals securely and transparently, enabling better patient care.
Financial market
The blockchain can be used in the financial sector to guarantee the security and transparency of financial transactions. Transactions can be recorded on the blockchain in an immutable and transparent way, allowing for greater trust between the parties involved.
Value Chain
Blockchain can be used in the supply chain to guarantee the transparency and traceability of products, including information on commitment to environmental, social and governance (ESG) issues. Records on the blockchain allow consumers to know the origin and journey of products, guaranteeing the quality and security of them.
Education
In addition to the digital certificate that already exists in Brazil today, all data on a person's educational history could be stored on the blockchain, preventing fraud when issuing course completion certificates.
The OCI Blockchain Platform provides a more comprehensive, pre-built blockchain managed service for building and integrating blockchain applications and smart contracts via a tamper-proof distributed ledger.
Count on the MPL to develop solutions of blockchain, to add value to their products and services and make them more security for your transactions and data.