Blockchain – The Future Of Our Data?

 

Did u ever imagine that vote you cast on EVM for your favorite political party, is registered and counted? Or who is giving you the guarantee that yes, your vote is counted successfully? Well, we have to trust the election commission for this purpose.

But suppose what if we have guaranteed to ourselves that our valuable vote has been counted and need not rely upon any other system. Well yes, such a system can be taken into consideration with the use of the BLOCKCHAIN.

Now most shocking and Interesting fact is that blockchain technology has already been used for elections. A country Sierra Leone successfully conducted the first blockchain-based elections on 7^th March 2018. In Russia, the Authorities of Moscow planned and launched a blockchain-based electronic voting system pilot project in June 2019. The project was carried out by partnering with the Moscow City Election Commission and the Moscow Department of Information Technology (DIT).   Moreover, the Election Commission of India is working with IIT-Madras for using blockchain technology to enable app-based e-voting to make the process more convenient

 

Now, what is this blockchain? – A blockchain is a method or a technique to store information and data in such a manner that the data which is stored is in a “decentralized way”. this means there will be no central agency or authority which will control or dominate the data.

Now, how data is stored in blockchain? – in blockchain Technology, the data or information is stored in form of blocks and that block comes into existence with three things. first, the data you want to store in a block. Second, the hash of the block also knows as the fingerprint of the block, and third, every block stores the fingerprint or hash of the previous block. And that’s how every block is linked to each other.

Interestingly, if you try to alter or manipulate the data of any block that tampering will lead to a change in fingerprint or hash of that block that eventually will lead to alteration of every block’s hash and destruction of the whole blockchain.

Now if we see a real-life example, our Indian currency,  which is controlled by the Reserve bank of India. RBI is central and a whole sole authority that can control every Indian currency around the globe. In contrast, if we talk about bitcoin, it is a decentralized currency. that implies there is no central authority that can dominate the bitcoin. And this is because bitcoin is Based on Blockchain Technology and this is the reason behind the decentralization of bitcoin.

So, it is very much clear that this is the future. As many systems are now on a way to use blockchain technology and many will use it in the future.  To tamper with the data stored in a blockchain is next to impossible, this technology is spanning its wings day by day. If every system will use this technology, this not only will secure their data but also, we as a user would trust that company well as we will be acquainted that our data and information is in safe hands.