Four Essential Things To Know About Blockchain on Azure
Posted by Brew City on May,08 2018
Blockchain is an encrypted, shared ledger that tracks every transaction a virtual coin experiences, from where it's been traded to who has traded it and whether or not it has been made liquid. Even when crypto exchanges are hacked, the ledgers remain intact. Security features and the efficient transactions blockchain delivers were behind Microsoft's early adoption of blockchain technology and it's offering blockchain technology through the Azure platform. If your company is currently using Azure management tools, then integrating blockchain into your processes will not require a great deal of complexity.
Financial professionals, healthcare professionals and decision-makers in fields that rely on numerous and secure transactions, have turned to blockchain technology as a cloud-based solution to digital transfers. It is now used by banks and real estate agencies to track ownership of properties and financials. If you intend to utilize blockchain, then here are four things you should know:
1. Creates Efficiency Across Organizations
A blockchain system exists across many computers, this distribution ensures that the network will not go down, even if one server has an issue. Another advantage is that blockchain creates a common digital layer. Multiple organizations and internal departments can access a secure, real-time, data storage and delivery system that streamlines business processes. The digital layer is especially useful in the logistics sector, where organizations must rely on optimum communication between various carriers and contractors.
2. Integrates with Existing Processes
Microsoft offers Etherium on Azure, Syscoin and Emercoin blockchain platforms and others. Corda is a platform used by businesses with multiple departments and overlapping responsibilities. It features a network map and a multi-node network. Other platforms offer blockchain services for IoT devices that are typically used in retail and shipping. The options can be tailored to suit the needs of a business and optimize existing processes within a secure and efficient platform.
3. Next Step in Data Delivery
Over the past several years there was a push for all organizations to migrate their digital data to the cloud. Blockchain is establishing itself as the next step in data management and operations. Now that data is in the cloud, blockchain helps keep data active. The cloud isn't simply a storage location. It's accessible and with blockchain there is the potential to make data a dynamic force in ongoing, daily operations.
4. Integrates with Security and Compliance Measures
The Azure management platform's security measures are highly trusted by many organizations, including international organizations. Azure users know that as their organization grows, Azure will match that growth with scalable security measures and compliance updates.
As blockchain technology becomes increasingly ubiquitous, organizations will need to adopt it in order to keep up with efficiency, communication and security measures.