Blockchain Technology Will Support Cyber Security to Prevent Data Tampering

Blockchain technology is being increasingly used in sectors where security is of paramount importance. Platforms require a high level of cyber-security today as data tampering is commonplace. Blockchain technology will protect user data from being altered.

John Zanni, President of the Acronis Foundation said –

“We believe that blockchain technology will be transformative in the tech and IT sector in the coming years, similar to what the internet did for the world back in the 90s and early 2000s…Today, part of our storage and backup software lets users notarize any digital data and put the fingerprint on the blockchain to ensure it can’t be tampered with.”

The recent Equifax cybersecurity fiasco that happened in September of 2017 breached sensitive information of almost half the U.S. population. About 145.5 million U.S. Equifax customers’ personal information was accessed by cybercriminals. The company also confirmed that credit card credentials of 209,000 consumers were stolen in the attack.

Online businesses face data tampering by hackers in which digital information is altered in authorized ways. The alterations are both accidental and intentional. Serguei Beloussov, CEO and founder of Acronis said –

“Authenticity of data is actually one of the most important factors when it comes to cyber protection. Data can always be changed and modified. Blockchain technology can be used so that data can be signed with a digital signature.”
Blockchain technology is a decentralized, distributed online ledger which records all transactions across multiple computers. The distributed database has a growing list, known as a chain, which consists of the data transaction records.

In blockchain technology, the digital signature is called a ‘hash’ and the hash can be stored publicly or privately on the blockchain ledger. The ledger is immutable; any alterations can be viewed instantly, even if such an alteration is achieved. The hashes prevent the entire chain of blocks from being changed.

Every participant in the ledger has a copy of the transaction. It is the distributed nature of blockchain technology which prevents data tampering. The technology is completely transparent and keeps all data authentic.

Blockchain technology is applied in the real world to create legal documents and to confirm original work.
Feelium uses blockchain technology to secure legal documents

Feelium is a secure platform built using blockchain technology and Feelium Tokens facilitate smart contracts and escrow services on the platform. Smart contracts are legal documents that can be signed through a digital signature.

Users can choose from numerous free smart contract templates on Feelium’s website and customize it according to their own need. Since the contracts are based on blockchain technology, once they are signed, the contracts cannot be altered. The smart contracts remain secure on the blockchain network and only authorized members can access it.

Any legal contracts can be prepared using Feelium’s contracting services and shared among concerned parties. The Feelium smart contracts are also self-regulatory; all terms mentioned in the contract are verified automatically by the smart contract. Secure transactions can be conducted in a trust-less, border-less fashion on the Feelium platform. Register to participate in the pre-ICO today on www.feelium.co.