Guest Post – In every community and corporation the requirement for a single centralized source of truth about identities has become a necessity. It would be fine to imagine a decentralized digital identity system, a source of truth where every single data element such as user attributes and credentials, are included in the system just only by distributed consensus.
This model is the focus of several enterprises, that includes Microsoft and IBM. The more control will be received by the users over their identity, since they can be able to share it with trusted parties. There is no a chance for a single centralized entity that can tamper with user identities or data.
This model will be improving accessibility, privacy of their data and control over their personal data for the users. This model will be reducing identity management cost, eases the monitoring process, and improves customer service and efficiency for enterprises.
Blockchain For Real Estate
If at all certain creteria is to be met, smart contracts in blockchain are little programs which executes. In the 90’s by Nick Szabo was invented the smart contracts. By Ethereum, they were integrated into blockchain technology and cryptocurrencies. The parties can be able to agree in a smart contract, on a sequence of conditional execution paths based on events. This sort of concept led to the use of blockchain within industries such as real estate. In fact, smart contracts can be able to work for any system which involves a contract in between a seller and a buyer.
Dealing with properties in the real estate that involves several parties and individuals, including owners, service providers, lenders, and investors. The present day’s existing traditional centralized systems, the transactions in between these entities can be problematic. From many number of factors this difficulty arises, that includes a lack of trust among peers, fraud and deficiency of a single source of truth about real estate and its history. The possibility, that the blockchain is offering for having a real estate system with a very efficient search engine and look up source for the present properties on the sale.
Karthik is working for a startup Digital Marketing company. He has 5+ years of experience in Digital Marketing, Website Development and Content Development, and always want to learn new technologies and update himself.