Its a comprehensive risk management system for a book chain network such as binace,luno and many others using cyber security frame works with the best precautions against money laundering and fraud .
Block chain can also be called a ledger how?
Firstly i would like to define a ledger :
A ledger is a book in which banks,business firms etc records their finacial account .
While in block chain security system transaction being made are recorded and confidential to the system and the user .
Block chain a Distributed ledger technology dlt is focused on creating trust in an untrusty eco system making it a potentially strong cyber security technology .
Its a ledger system which is usually decentralized but information is transparently available to members of the specific block chain. All members can record ,pass along and view any transactional data that are available or encrypted onto their block chain .
Advantages of block chain
Block chain inherently decentralized nature makes it the perfect technology for cyber security.
Block chain is connected to personal details like Bvn in other to reduce the risk of scamming .
It protects the integrity of crypto through encryption method and public information sharing .
It was first implemented as the operational network behind bitcoin and is now used in more than 1000 different crypto currencies .
It provides no hackable entrance or point of failure that exposes data sets .
It creates trust and maintain a high level of data integrity .
Its has virtually endless uses in everything from medical and finacial data sharing to anti money laundering monitoring and encrypted messaging platforms .
The legitimacy of crypto currency is purchased by individuals because they can trace the transfer of currencies to its origin.
Going by my understanding block chain is the best cyber security so far securing both finacial and other transactions due to the fact that its highly confidential and encrypted in other to avoid money laundering and fraud .Its totally safe and reliable .