Encrypted websites handle more than half of the world's web traffic, but the way they work hasn't changed much in 20 years. The current system relies on a global network of certificate authorities to verify public keys and the owners of secure websites, which has long been criticized for creating central points of failure, that have actually failed in some cases. Blockchain technology could provide the basis for a decentralized secure alternative.
Up Next in Blockchain
Blockchain technology could hold the key to lowering the cost of real estate transactions by streamlining processes and reducing intermediaries. Potential areas of application include purchasing, leasing, and property management.
Lower Real Estate Transaction Costs With Blockchain Technology
Advocates of decentralized ledger technology say it can streamline transaction processes, reduce fraud, eliminate middlemen, and cut costs.
The Globe and Mail
De Beers, the world’s largest diamond producer, is using blockchain technology in a pilot project to track diamond sales. Participants can view all transactions while identities and the value of sales are hidden. The goal is to reassure buyers that the gems they’re purchasing are both genuine and not conflict diamonds.
Diamond Trade Turns to Blockchain Technology