Blockchain Solutions for you
Blockchain technology is unknown to many and difficult to assess. It is caught between high expectations on the one hand and great scepticism on the other. Above all, we take a realistic view of its characteristics. Of course, there are alternatives to blockchain. But we want to use its undeniable advantages for our clients. Benefit from our experience and let us help you find the right blockchain solution for your business.
Characteristics of the Blockchain
Decentralisation
If you want to transfer money or store data in a cloud, you need to trust the company providing the services. Whether it is a bank or an IT company, some things remain the same. A central point coordinates the process, collects data and charges fees. Blockchain, on the other hand, is a decentralised system that works without such an institution. Trust is created by the many different, equal participants in the network through checks and balances.
Public documentation
What happens on the blockchain network is visible to all participants. Even if a transaction is to be cancelled, it is not simply deleted, but the information about it is also added to the blockchain. This means that all information is fully preserved from start to finish. Every change is visible and openly stored on all participating computers.
Immutability
Each transaction is stored in a block. When a block is full, the next one is created and added to the previous one. Information is not only stored on the blockchain, but also linked to each other. The information is converted into numerical values that relate to each other, linking the blocks into a chain. The chain is broken when information is manipulated and the numerical values change as a result. Manipulation is therefore immediately apparent. Once information has been stored, it cannot be changed.
Non-binding initial consultation about blockchain
Have questions about using blockchain in your business? Our specialist lawyers can help.
Blockchain advantages
Safety and security
The combination of these features results in a high level of security. The irreversibility of the information created by the link is further ensured by the decentralised storage. Finally, changes in a transparent network are quickly detected. Any manipulation would have to be carried out simultaneously on all participating computers and change all values in the entire chain. With a large blockchain network like Ethereum, this is virtually impossible.
Trust
The system is therefore secure in itself and does not rely on any company's efforts to do so. There is no need to worry about mistakes or even fraud on the part of such a central organisation, or to trust its reliability and honesty.
Lower costs
Although a blockchain-based network does not operate entirely on its own, it can eliminate some of the overheads associated with a normal system. All the costs charged by the central authority, which usually consist of fees or contributions for services, are eliminated. We therefore keep costs down for our customers, even with sophisticated solutions.
