Table of Contents
- Blockchain Could Improve Communication
- The basics of blockchain
- How Will Blockchain Technology Enhance Communication?[+]
- Final Words
The early web was full of fun and experimental commercial and artistic expressions, such as Geocities, Alta Vista, Beenz, and thousands more. At the turn of the century, the web was all about figuring out what it was for and how it should function.
Blockchain Could Improve Communication
As the second decade of the 21st century draws to a close, the web has become a more settled place. There are no longer many old names. Like the Model T, the Lamborghini was laid down by Geocities, Google was laid down by Alta Vista, and Bitcoin by Beenz.
As it pertains to Bitcoin and the blockchain technology that powers cryptocurrencies, we're stuck in an unanswered corner of the internet.
As of right now, blockchain is still young enough to be anything we want it to be. Blockchain will likely have a significant impact on the way companies and customers communicate, according to some arguments.
The basics of blockchain
The majority of data we store today is in databases managed and owned by a single company. A database's fortunes are tied to those of its owner, whether it resides on a single server or in hundreds of data centers.
As a result, a well-distributed database might be able to withstand damage happening at a single data center, but not if its owner dies.
Blockchain differs from traditional methods. Data in blockchains does not belong to a single organization or exist in a central database but rather is distributed across the computers of all participants. If you have an internet connection and the right software, anyone can use a cryptocurrency like Bitcoin.
Blockchain technology is revolutionizing the world because of its vast range of reach and advantages. With this in mind, it is only natural that blockchain also changes the telecommunications industry with speed and security. This article highlights four ways. Blockchain technology could improve communication.
How Will Blockchain Technology Enhance Communication?
Enhance Secure Messaging
A common concern today is that different social media platforms and websites store the private data of their users. Blockchain technology comes with a solution to this problem. This technology decentralizes the data such that only intended users will access the information. In addition, the data is only released with private keys.
Some messaging systems like SOMA Messenger are now integrating blockchain technology in their operations. As a result, the messages will be encrypted and developers will also provide a crypto wallet that will reward users for using the platform. This way, the company secures client data while rewarding them for using the platform.
Improve Enterprise-level Communications
A decentralized cloud communication network was previously unheard of. However, TOP Network is a start-up that is creating this new system on the blockchain. This platform will be useful to both people and companies. It creates a platform for sharing idle resources to the network, like spare servers in a data center, and receives rewards in turn through a crypto wallet. Secondly, service providers can join the network, allowing the organization to have wider coverage.
Another benefit of this network is those on the system can receive higher-quality services at reduced prices with robust security. Because blockchain technology can decentralize cloud communication, the network can create smooth incorporation from one application to the next. As a result, the complexity of communication is significantly reduced to a simpler process.
Secure Voice over Internet Protocol (VoIP)
Today, consumers and communications providers want cost-effective systems. Despite working reliably in the past, traditional telephony has significantly high costs. VoIP is way cheaper than customary telephony and has a future in blockchain technology communication networks. This technology eliminates the central access point in existing solutions of VoIP.
In turn, the technology will route the signal of the calling party to a receiving number. After that, it replaces the centralized access point with a common distributed network among users. These changes will also reduce associated costs of ensuring communication between different parties because the distributing ledger already created existing distribution routes. Lastly, the new system will maximize the speed of information transfer, improving it from existing speeds.
Content Delivery Networks (CDNs)
CDNs are vital because they offer an important service necessary for the transfer of information on the internet across the world. Moreover, CDNs also ensure a weak point of security risk and basic cost for the transfer of data. Blockchain technology can optimize unused bandwidths from servers across the globe. The technology will link together the servers forming a complex nest of servers that can seamlessly move data worldwide. This data can only be accessed by private keys hence ensuring maximum security.
Currently, when a server crashes, there is a service interruption until it is restored. If any single server crashes, blockchain technology allows for rerouting of data transfer to any other server on the network. Therefore, the new technology will solve issues of reliability associated with using CDNs.
Blockchain technology is not only limited to buying cryptocurrencies. It has a wide range of applications that affect all sectors, including telecommunications. Share with us any other advantage of blockchain technology in communication that didn't make a list.
What are the four major advantages of blockchain technology?
With blockchain, businesses gain trust, security, transparency, and traceability of data across networks – while reducing costs.
What are the benefits of blockchain for customers?
Due to the transparency of data transferred on Blockchain, you can use it to build consumer trust. As an example, your company's portal can display all blockchain activity associated with a customer so that he/she can view it at any time. It will increase your brand loyalty and improve your customer service.
What is the impact of blockchain on consumer behavior?
Research has shown that blockchain tracing can improve supply chain transparency and process management, which in turn improves consumer service and trust.
What impact does blockchain have on marketing?
Transactions on the blockchain are all decentralized. In other words, marketers will have a reliable source of data collection, namely from consumers. Marketers can reward consumers for their data by paying them or incentivizing them.
Thank you for reading!