An easy Guide To Blockchain Technology

The main purpose of Blockchain is to provide a highly secure database to users where data is only available to relevant parties and no one else. However, this provides some of the users an incentive to misuse this technology by masking or 'securing' data, which is potentially illegal or pertains to malware.

The data on Blockchains, like all the other data on the internet, is prone to hacking and misuse for fraudulent activities. Due to the encryption enforced by the tool, it is often next to impossible to retrieve your data in a Blockchain once it has been infected with malware. If you are looking for more information about blockchain technology then you can browse

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Since blockchain enables encrypted data storage of any kind, it is very easy to create multiple digital IDs and have blockchain prevent them from being tracked. Individuals such as refugees and unauthorized nationality holders are most probable ones to exploit this particular feature to make sure that their identity exists, but remains inaccessible and untraceable at the same time.

Governments are another culprit that can potentially misuse blockchain technology. It often happens that the public is asked to share their details by enticing them with a fake investment opportunity. Those who fall for such traps, end up disclosing all of their important and personal data, which can be potentially exploited by the government.