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Blockchain Technology, crypto’s underlying technology, remains strong
Lori Bowers
November 9, 2022
In the News

In the past few months, several high-profile security issues involving cryptocurrencies. As mentioned in Investor’s Business Daily’s article, Tornado Cash Ban Raises Questions In The Crypto Community, the importance of solid coding cannot be understated. Coding is the key to preventing asset thefts and data breaches, no matter which side- centralized or decentralized you are looking at.  These incidents have led some to question the safety of investing in cryptocurrencies.  Blockchain technology can solve these security issues.  

It is important to remember that cryptocurrencies are still a relatively new technology, and all new technologies come with risks.  Moreover, the underlying blockchain technology that powers cryptocurrencies is very secure.  In fact, there are many potential use cases for blockchain technology beyond just cryptocurrencies. Saswata Basu, CEO of Zus states crypto’s true value may be in enterprise data security and storage solutions.  

Decentralized Storage Networks’ potential to disrupt enterprise solutions.

Cryptocurrencies have been gaining a lot of buzz lately.  However, their real-world application may lie in their potential to disrupt enterprise solutions. A decentralized storage network provider, like Zus, offers security and privacy for businesses looking to store sensitive data.  As cyberattacks become more commonplace, the need for secure data storage is only increasing. 

For individual users, decentralized storage networks offer a new way to protect and manage personal data.  Beyond investing and purchasing items, blockchain technology can significantly impact how we secure and access our information in the digital age. 

Impact on how Blockchain technology how we secure and manage our data:

Asset management: Blockchain can be used to track and manage physical assets, like land titles, vehicles, or works of art.

Supply chain management: Blockchain can be used to track the movement of goods through a supply chain.  From raw materials to finished products- it can ensure that each product meets quality standards. 

Identity management: Blockchain can be used to store and manage identity information like birth certificates, passports, or driver’s licenses. 

These are just a few examples of how blockchain can be used to solve real-world problems.  So while crypto may not be replacing traditional currencies anytime soon, the utility of blockchain technology in protecting our data should not be underestimated. 

Securing data 

While cryptocurrencies have been known for their potential to revolutionize the financial sector, their future potential may lie in something much more fundamental- securing data.  As we become more reliant on technology for every aspect of our lives, storing and protecting our personal and business information becomes increasingly important.  Traditional cloud server companies are not always up for the task, as demonstrated by recent major breaches.  

This is where blockchain technology come in.  By decentralizing and encrypting data, a decentralized storage network, like Zus, can offer unparalleled security for both individuals and enterprises. That is not even mentioning NFTs, which could completely change the way we handle digital ownership and asset management.  The possibilities are exciting. It will be interesting to show how Zus’ decentralized storage network will ultimately shape the future of data security and storage.

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Lori Bowers
November 30, 2022

Happy Wednesday! Tomorrow we will be hosting another Cloud Cover AMA with our founder Saswata Basu (Ecclesia #3), on December 1st at 10 am PST. If you missed the previous episode, Saswata talked more about tokenomics, building with Züs, and even shared some of the results of our load tests. You can watch the episode […]