In time past, information tends to determine the success level of any venture or organization as one cannot talk about information without considering data which simply means information that has been processed i.e has become fact.
it has been observe that fact obtain by an organization are misused, thereby make the data obtain worthless to the organization and the society at large. Due to the inability of organization to manage data obtain effectively and efficiently lead to the birth of Blockchain. A Blockchain can be regarded as a diary or spreadsheet that contains information about transactions. In which each transaction generates a hash. Which means number and letter of strings.
REASON FOR MANAGING DATA
Data tends to be one very useful thing in the current world since:
• it helps one to make decisions based on traffic.
• It helps enables you to build profiles of your guest base.
• It helps to strengthen developmental means and tailored promotions and marketing plans.
• It allows one to anticipate client needs
PROBLEM OF DATA MANAGEMENT
In the recent years, it has been observed that data volumes have grown to a large extent and the way it’s been use now is different from how its been used before, thereby makes it difficult to examine or evaluate; not to talk of using it as a means of decision making, and to crown it up the aforementioned makes the data stored to be volatile i.e difficult to secure since it tends to go beyond storage capacity, But with the coming to the limelight of Alre (Alre which uses blockchain for all is activities) the problem tends to be under control.
ALRE
Alre is a project that possesses an ecosystem in which data of different people ranging from individuals to large corporate can be stored with the desire to improve the well-being of people around the world both physically, mentally, and socially; by empowering individuals to uphold the right and value their data possess, with this participant can transact with each other and get secured with the smart contract code which is been done via blockchain network. i.e block chain makes the buying and selling possible possible
ALRE AND DATA MANAGEMENT
Alre uses blockchain technology to unite data of different individual and corporate body with the motive of allowing such data to be used with their consent and also ensured such data right are protected, by using different mechanism to provide a wide range of application services to users. Consider alre activities, it can be related to next-generation bank, due to his mode of operation and his provision like digital wallet, and most especially how it tends to manage data which make it to be a sovereign platform
REASON WHY AIRE USE BLOCKCHAIN FOR HIS ACTIVITIES
- Greater Transparency
This blockchain characteristic originate from the fact that, blockchain transaction ledger addresses is not hidden. Alre tends to adopt it to increase the trust of their investor since all the activities are not hidden for the public to notice - Increased Efficiency
Since blockchain setting is a decentralized one, the need for an intermediary is not necessary hereby make transaction f fast with the use of P2P i.e cross-border transfers - Better Security
Blockchain can be regarded as one of the secure record keeping systems when comparing with others as a result of each transaction linked to the previous transaction and encrypted. - It gives room for transaction to be traced
blockchain ledger enables value to be recorded each time its been exchange and a ready made audit trail is been made available to verify the transaction and its origin.
CONCLUSION
from the above it can be said that aIre uses blockchain technology network to manage data, and hereby serve as data bank mechanisms due to the provision made for an individual like giving them digital data identity, which makes it easy for data to be trace and manage effectively and efficiently with the motive of meeting people need at a point in time. hereby reduce the stress and problem of managing data.
USEFUL LINKS
Website: https://www.arcs-chain.com/
Twitter: https://twitter.com/ARCS_ARX
Whitepaper: https://www.arcs-chain.com/whitepaper_en.pdf?v=20191122b
Telegram: https://t.me/ARCS_ARX_EN
Medium: https://medium.com/arcs-arx-official
AUTHOR’S DETAILS
Bitcointalk Username: Odebowa
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2173182
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