Blockchain Breakthroughs: Will the Technology Become Our Internet By the 2020s?

As much as the Internet’s evolved in the last 25 years, many still see it as a major minefield in potential security issues. Almost every day, we hear about hacking events, all due to bad IT management. Even when using security tools, the Internet still seems like a gamble in staying completely safe during data transfers.

With Wi-Fi networks not always being secure either, it adds bigger problems for those who go online while on the go.

Despite many people simply tucking away the security threats of the online world, blockchain could become our new Internet in just a few more years.

The Argument Over Whether Blockchain Can Mimic the Internet

You’ll find some who think it’s still a formidable challenge to make blockchain a form of Internet in the future. One of the biggest problems is that with two blockchain technologies available (open-source and private), someone has to integrate these into something offering both sides.

The common TCP/IP Internet format would make it an easier fit. However, since many blockchain transactions are quite slow, speed needs serious consideration. It could still happen with more blockchain development to compete with high-speed Internet providers.

What’s important to remember is the Internet took years to develop. A blockchain Internet is already equipped to remove intermediaries in transactions, as well as reliable security.

A Secure Internet for Online Transactions

Imagine a world where you could go online and never worry about hackers accessing your data, especially during financial transactions. Such a thing could happen with further development to resemble a new Internet.

Since blockchain uses a decentralized and distributed ledger technology, online shopping no longer has to turn into a risk about which site has the most security.

For business transactions, the public ledger allows for complete clarity on who made a purchase and when. Online businesses wouldn’t have to invest in other tools just to use metrics after transactions.

We’ll perhaps have to wait a few more years until this happens. Yet, with blockchain, anything is possible now. It’s all a matter of who develops it and overcomes regulatory roadblocks to make it happen sooner.

Keep reading us at Blockchain Revolution as we explore news and breakthroughs for this technology.

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