Blockchain Backups the key solution for modern backups.

Since the days of clay tablets, people have kept the record of goods and services they have. Now we are involved in the digital age where keeping the record of transaction have been difficult. Whether it is the exchange of money between the two parties or the documentation. The growth of global commerce and trade has created the network of desperate ledger systems, vulnerable to errors, fraud and misinterpretation. Cloud storage solutions allow you to have smarter data storage and backup but there is a trivial chance of errors too.

Use Case For Blockchain Technology:

Take the diamond industry for example, the journey of a diamond from mine to consumer covers a complex landscape of legal regulatory, financial manufacturing and commercial practices. Current supply chains have to rely on intermediaries, every step of the way from government officials to lawyers, accountants, dealers and banks. This adds time and cost. The diamond smuggling and fraud can hamper governments from collecting fair export taxes and consumers and retailers face the prospect of purchasing counterfeit or unethically mined stones. This is where hyper ledger blockchain technology comes in. It has the potential to eliminate these vulnerabilities with transparent transactions.

Why use Block Chain Technology?

Blockchain offers all parties involved in a business network, a secure and synchronized record of transactions the blockchain ledger records. Every sequence of transactions from beginning to end whether it's hundreds of steps in a supply chain or a single online payment. As each transaction occurs it's put into a block, each block is connected to the one before and after. It groups of transactions are blocked together and a fingerprint of each block is added to the next. Thus creating an irreversible change. That's why blockchain is ideal for recording the mining refining and distribution of one of the most valuable goods in the world. It can trace a diamonds path from the mine to the hands of the consumer. With exceptional security and transparency.

Key features of blockchain technology:

 While blockchain works with all types of transactions there are three key features that make hyper ledger blockchain uniquely capable to handle the requirements of a regulated industry like diamonds. It's distributed, permissioned and it's secure.

Distributed:

 The ledger is distributed, it works as a shared form of record-keeping ensuring no one person or organization holds ownership of the system. Everyone involved during the process is permissioned to have a copy of every record and piece of data and no transaction can be added to the chain without consensus across the participants.

Secure:

No one person can add to or alter the blockchain without being permanently recorded making a tamper resistant and highly secure eliminating the risk of fraud and error. No one, not even a system administrator can delete it.

It holds certificates of authenticity real time records of every payment transaction as well as product details. There is a complete auditable and indisputable record of information blockchain technology gives us the ability to transform industries. It frees up capital flows speeds processes, lowers transaction costs and most importantly provides security and trust.  We believe that blockchain will do for business what the internet did for communication. Incorporating blockchain technology in your backup and disaster recovery plan can create new ways of working and leave more time for creativity and innovation.