How to apply blockchain to the telecom sector? Is it useful?

What Is Blockchain Technology?

Last Updated: September 28, 2019By

A blockchain is a public ledger of information collected through a network that sits on top of the internet. The way this information is recorded is what makes Blockchin so specisl and outstanding. 

Documentation of data on the internet is what Blockchain is and no it is some sort of company, nor is it an app. Blockchain applications can be made use of for creating social networks, messengers, games, exchanges, storage platforms, voting systems, prediction markets, online shops and much more.

“The Internet 3.0” is what it is called, and in some way it does share certain similarities with the internet.

Money transfer, ownership, an identity, an agreement between two parties, you name it and the information recorded on Blockchain would take that form.

A confirmation from devices like a computer or other devices on the network is needed and once an agreement is done between the devices, something stored on Blockchain by them stays there. Unless their permission granted by the owners of the record, It cannot be disputed, removed or altered.

Gif;base64,r0lgodlhaqabaaaaach5baekaaealaaaaaabaaeaaaictaeaow==

Get Blockchain Insights In Inbox

Stay ahead of the curve with expert analysis and market updates.

About the Author: Editor's Desk

Avatar

Disclaimer: Any post shared by a third-party agency are sponsored and Blockchain Magazine has no views on any such posts. The views and opinions expressed in this post are those of the clients and do not necessarily reflect the official policy or position of Blockchain Magazine. The information provided in this post is for informational purposes only and should not be considered as financial, investment, or professional advice. Blockchain Magazine does not endorse or promote any specific products, services, or companies mentioned in this posts. Readers are encouraged to conduct their own research and consult with a qualified professional before making any financial decisions.