Applying Blockchain Into Reality

Blockchain is a distributed digital ledger. Simply put, a notebook registers everything that was born and lost, and that book is then copied for each participant to keep a copy of. This implies that in the entire system there is not only a single location, a document can be the only authority, because duplicates of the same version of the ledger are located at many places.

All of these copies are updated when new data or transactions are written to the blockchain through the consent of all participants. Some people in the system are responsible for approving transactions and monitoring the network by solving sophisticated formulas with the help of computers or holding large amounts of tokens. It is a P2P peer-to-peer system, eliminating all intermediaries, enhancing security, transparency and stability as well as reducing costs and human error. (Model similar to download torrent)

Characteristics of Blockchain:

Làm Cannot be fake, can't destroy block chains: blocks are linked together but operated independently. Unless all the machines / nodes in the blockchain collapse,

Biến Immutability : Once the data has been written by the private key holder (the function dedicated to the originator of the blockchain) that data cannot be edited and saved forever.

⦁ Data Security: Information / data about blockchain chains are distributed and absolutely safe, only the holder of the private key can access that data.

⦁ Transparency: Anyone can follow the path of the blockchain and statistics the entire history on that address.

⦁ Smart contracts: are digital embedded by an if-this-then-that (IFTTT) code that allows self-execution.

Blockchain application

No separate consideration in terms of electronic money , the next section will go into more practical aspects that blockchain helped improve the quality of our lives.

Application of blockchain in protecting assets / Intellectual Property

The problem of piracy has been going on for a long time and still has no thorough solution. However, at the present time, blockchain technology is considered the only and best solution.

Although we are not a musician, scientist or writer ... we always want to ensure intellectual property rights for the best creations. Blockchain technology can help you protect your assets by creating profiles in real time.

Blockchain application in Computer Security

Technology is growing stronger and making the greatest impact on the whole of humanity. The development comes with sophisticated technologies to combat cyber attackers. Blockchain technology possesses three extremely important characteristics for network security: data cannot be tampered with, decentralized and cryptographic confidential.

Blockchain application in Education

The process of verifying certificates and documents is an extremely complex issue for many countries around the world. The issues of data fraud are now becoming more common than ever. Blockchain technology will contribute to the transparency of student records, making it easy for employers to trace the origin of the records to examine the learning process of candidates from low to high.

In San Francisco, Holberton School, which specializes in training software engineers, has announced a student management project on the blockchain platform.

Blockchain application in the Game

With the rise of in-game purchases and microtransactions (in-game virtual goods purchases with real money), many professional gamers have their own huge repositories of everything online. Connect with different accounts. However, the safety of these assets is not guaranteed. And by deploying a blockchain, gamers will be able to fully control their asset status.

Blockchain application in e-commerce

The current market trend is gradually turning to online services. E-commerce is no exception. However, the challenge facing this industry is that the data processing system must be the best to be able to process information quickly and accurately. The smart contract invention is the most effective solution. From here, the payment solution makes it easy to do business by cooperating with many domestic and foreign enterprises in a short time with a much simpler procedure.

Blockchain application in Tax Collection

Transparency is the most important factor that makes blockchain the most potential technology platform in over a decade. If blockchain is applied to the tax collection process, all data is most clearly controlled by the government.

In 2017 in China, the authorities came up with a special project when using a blockchain for both taxes and issuing e-invoices. Electronic invoices were first posted on the blockchain in August 2018 at a local restaurant.

What is Blockchain specific support? As well as to apply Blockchain for their investment field, customers can contact E-GROUPS Vietnam directly for assistance.

Contact information

EG VIET NAM TRADING SERVICES COMPANY LIMITED

Address: 22 Quach Vu Street, Hiep Tan Ward, Tân Phu Distrist, HCM City

Phone: (+84)86 705 74 79

Hotline: (+84)86 707 74 79

Email: info@egvietnam.com

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