Hello steemit, Centralized Being Decentralistic : Blockchain technology was born in response to concerns of some parties to the way software work is centralized.

(source image from pixabay)

Hello steemit, As a vast country, Indonesia faces two major challenges amid the rapidly growing economy and national development, namely the urgency of integrated infrastructure and the credibility of governance of various sectors.

Lack of business infrastructure, high corruption cases in many sectors and the frequent encounter of human error in data management - both in the public and private sectors - are the factors that helped shape Indonesia's reputation in the eyes of the global community.

With regard to data management, the obstacle to achieving accuracy lies in the centralistic approach of built-in internet-based systems.

Software systems that are basically designed to send data from one party to another require a centralized server as a publisher and data manager.

When there is interruption on the server, the website can not be accessed and automatically the user can not use the service optimally.

Centralized Being Decentralistic

(picture pixabay)

Blockchain technology was born in response to concerns of some parties to the way software work is centralized.

This technology was born in 2009 along with the advent of Bitcoin , the virtual currency that is becoming a trend today.

Blockchain technology is a technology that underlies the running of Bitcoin without relying on centralized servers and thus avoids the risk of downtime.
The blockchain system comes by transforming a centralized approach into decentralization.

(source:pixabay)

In principle, blockchain technology conditions every server that runs this software to form a network consensus automatically to mutually replicate transaction data and verify each other's data.
Therefore, when one server is hacked, the server can be ignored because it is considered to have data that is different from the majority of other server networks.

This makes blockchain technology a much more powerful attack than a centralized technology because there is always at least 1 server running to handle transactions.
Blockchain technology enables network consensus to record and validate every transaction so that incoming data can not be forged, lost or corrupted so that it can not be manipulated by the network provider.

(picture pixabay)

The analogy to how blockchain works is almost the same as a cash book in a bank that records all transactions done by its users.

The only difference is that only authorized parties can access the transactions information in the bank's cash book, while transactions through blockchain can be viewed by all users because the information collected is also distributed to everyone who runs the server.

Additionally, since server access is granted to everyone, no party can fake or modify the transaction.

Not limited to Financial Activities

The first sector to explore the blockchain is certainly the financial sector.

Bank OCBC, for example, conducts transfers between Malaysian and Malaysian branches that are proven to take only 5 minutes.

Bank Santander, one of the largest in the UK, projected this technology could save the bank operational costs more than 20 billion US dollars per year.

In its development, blockchain technology is also used by other sectors. Sony Global Education works with IBM to publish articles and diplomas in blockchain networks so that they can not be falsified, damaged or lost.

In the health sector, its implementation is carried out on a wider scale by some countries, one of them Estonia.

A patient's record or record in hospital A can be accessed by hospital B when the patient is admitted to hospital B, in a short time because it is already recorded in the blockchain network.

In the food sector, IBM is collaborating with producers and food distributors to reduce contamination in the global supply chain.

Through blockchain, food transactions around the world can be massively collected, so in case of food contamination, it is very easy for the relevant authorities to track the source and perform rapid isolation.

Another example is Alibaba working with Pricewaterhouse Coopers to help resolve China's food security.

Ernst & Young's accounting and consulting firms, in different cases, launched the blockchain platform to facilitate shared car ownership scheme schemes.

Thus blockchain technology is essentially a 'digital transcript' created to avoid fraud, while at the same time allowing access to third parties as necessary.

Technology that is still very young this is not yet applied in all areas and various experiments seputarnya continue to be done by many companies.

But I believe in the future, technologisti blockchain will change the way the system works thoroughly, in the financial sector as well as the entire industrial sector.

(pixabay.com)

This system is believed to be effective in encouraging the realization of transparency, security and accuracy of transaction data.

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