Azaz
Ahmed Mohib
Session:
2018-19
Marketing
Department
In this world, without information you cannot even move a little bit. In
every sphere, you will need it badly. Those who work as a data analyst or in
information based sectors know it better that how much information they have to
deal with when they do even an ordinary work and it is not even safe all the
time.
Therefore, it’s really hard to make that data safe. That’s why,
"BLOCKCHAIN" was being invented. Trust me! From then to now it is the
most secured tech to store information.
Many of us must have known about it when we heard the name of Bitcoin.
Bitcoin is just a tiny part of blockchain’s uses and there is a lot more. So,
here we will know about what block chain is? How it works and why it should be
used in our information system. So, beloved readers be prepared for a bumpy
ride.
So, what is Blockchain: It is a distributed ledger where data are
being stored in a decentralized, efficient and permanent way and here these
data are stored in blocks. Here, these blocks are chained with one another and
when new data is being entered it adds a new block to that chain.
It doesn't edit previous blocks for new entry just adds a new block
while it follows the ledger method. Pretty cool isn't it?!!
How it works? In that previous part I have said that when new
data is being entered it adds a new block but that part is being done in a
processed and verified way. Verification means "security". So how it
is being secured??
So, when one computer connected to the block chain network tries to add
a new data then that computer needs to solve a cryptographic puzzle.
Then, after solving the puzzle, that solution is being sent to all the
connected computers. After that, when all the connected computers verify and
gives a green signal then that block is being added to that chain.
Oh! There is a one more thing about that puzzle, that it will be solved
by that computer itself so the user doesn’t have to be worried about it. That's
why by far, it's the most secured information system.
Why it should be used in our information system?
Intermediaries! Intermediaries! Intermediaries!
This peoples are those whom we cannot leave. They just devour our
valuable time and money for a simple 2-minute work.
But, with the help of blockchain we can save time and money both.
Blockchain are three types
1. Private Blockchain
2. Public blockchain
3. Hybrid public-private blockchain
So, first two we can guess how they will be but that third one is a game
changer for countries. In this type, people can see the data but they can't
edit those data just some authorised persons can access to it.
So, by these intermediaries can be deleted.
How? Let’s look an example:
Ahmed and Mahmud are brothers. They have a dispute about a piece of land
about its ownership. So, to mitigate that dispute they called a lawyer. That
lawyer after one or two weeks said that this land belongs to Ahmed. That lawyer
got a very handsome amount of money for that no doubt.
It took so long because he had to search for files and deeply analysed
those files.
If that information were stored in block chain, then Ahmed would just
have had to sit in front of his computer and within a few minutes he could have
told that who the owner of that property was.
That's how block chain helps to save time and money.
In our country, not only land sector but also every sector which relies
upon information such as accounts of govt. offices, NID card registration,
clinical data etc. should adapt this technology so the data remains safe and
people remain hassle free.
