STEEMIT CRYPTO ACADEMY: WEEK6 HOMEWORK POST FOR PROFESSOR @gbenga - SECURITY BENEFITS OF APPLYING BLOCKCHAIN WITHIN ANY INDUSTRY.

Greetings to every member of the steemit family, special thanks to @gbenga for his week6 lectures, below is my homework post.

THE SECURITY BENEFITS OF APPLYING BLOCKCHAIN WITHIN ANY INDUSTRY.
Technology has really evolved and we have seen this in the case of blockchain as it has moved from just being a database shared across multiple computers to a database technology used in many industries for various purposes, mainly for security reasons. Here are some of the security benefits of such industry that uses the blockchain technology to carry out its data activities.

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IT DOES NOT ALLOW BACKDOOR TRANSACTIONS.
When blockchain is applied within an industry, all the data and transactions of such industry will now use the blockchain technology and this will not accept any changes to already-stored data until all the computers involved agree to it, which means that they will definitely be informed of any of such attempt and this will minimize backdoor transactions in that industry.
Any industry using blockchain technology will now have their data and values secured as compared to other industries that do not use it. Industries not using the blockchain technology will have their data vulnerable to rogue administrators who have full access to all the data of the industry.

IT REDUCES DATA TAMPERING
Just like the case of transaction highlighted above, it is not easy for any administrator of any industry that uses blockchain to tamper with the historical data of that company because he/she will need the help of the majority of the people working in the data sector of such industry before the data already stored can be tampered.

PRIVACY
Since data stored with blockchain technology will always need multiple authorization before it can be accessed by someone, then the private data of the industries using blockchain will always be secured as there is almost no room for anything like hacking. This is very helpful in some industries like the health sector as it will help secure the health status of people that are not always to be disclosed.

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IMPACT OF CRYPTOCURRENCY ON THE INDUSTRY USING BLOCKCHAIN
Any industry using blockchain will definitely have an edge in their operations as they will definitely be enjoying the the wonderful effects of cryptocurrencies on businesses. Such industry will now be dealing with tokens which are highly demanded in the currency market.
Cryptocurrency will impact positively on the industry using blockchain as the technology is also the base on which cryptocurrency is built on. This will make the structure in the industry favourable for them to deal with other industries using cryptocurrency.
CONCLUSION
The blockchain technology is very good for industries as it makes the activities in the industry to be more transparent and veracious. It is worth being embraced by every industry as the world is gradually shifting massively to the use of blockchain and cryptocurrency.