Blockchain technology is best known in the context of digital currencies like Bitcoin, but those are far from its only useful applications. To understand its other uses, however, you must understand what blockchain is.
Simply put, it is a distributed database that maintains a continuously growing list, or chain, of data transaction records. Every portion of this decentralized system has a copy of the chain – so no single, “official” copy exists. The distributed nature of the chain prevents tampering and revision, which makes it easy to confirm the authenticity and security of every transaction recorded on the chain.
What is Tokenization?
Tokenization is the process of converting rights of an asset into a token that can be subdivided, traded and stored on a digital leger. Tokenization simply converts the value of an asset, tangible or intangible, into a token that can be manipulated on a blockchain.
By combining the advantages of blockchain and classical investment instruments, tokenization can have incredible effects on trading and investments across borders. The benefits of tokenization are various and can be summarised as follows:
- Improves liquidity of assets like real estate and allows fractional ownership
- Acknowledge the diversification of risk by owning parts of several assets
- Diminishes territorial barriers
- Allows newer models for raising capital and unlocks liquidity premium
- Allows more control and decreases the number of intermediaries, and therefore the amount of fees
We leverage blockchain technology to ensure the existence, integrity and attribution of communications, processes and data important for your organization. Our experience and current knowledge give an incentive to solve the problem of document falsification and deal with the time-consuming process of certification.
Crypto Wallet Solutions for Safer Transactions
With the rise in use of the cryptocurrencies, it has become vital to secure and monitor the cryptocurrency exchange and wallet. Cryptocurrency wallets are similar to other payment wallets. You can store, exchange and trade the virtual currency such as Bitcoin, Ethereum, Ripple, Monero, etc. by using it. When a cryptocurrency is transferred from one owner to the other, wallet takes the ownership of one digital asset is signed off to the next dedicated wallet.
At Infuy, you get the best-in-class cryptocurrency wallet development services for processing the virtual exchanges. With a team of extremely talented cryptocurrency developers, we specialize in assisting you to make your own cryptocurrency wallet. We focus on developing highly-secure, reliable and scalable wallet that will help you to stay ahead of the cryptocurrency game.
With our innovative and advanced Cryptocurrency Wallet Development techniques, we create a powerful and reliable wallet for you to store your private transaction keys and process your transactions securely.
Blockchain technology stores data in a decentralized, trusted and immutable manner. Blockchains can ensure that a user's single digital identity is stored in a secure and incorruptible manner. This single digital identity can always be up-to-date with the latest user information.
Blockchain has evolved significantly from the distributed ledger technology created to track bitcoin ownership. This technology can replace traditional systems with a highly trusted mechanism of managing identities. Blockchain can empower users to have greater control over their own identity. Organizations can use the information only with customers’ consent and no central entity would be able to compromise a consumer’s identity.
In resume, self-sovereign identity would allow users to :
- Control their identities
- Access and update information (though third-party verification may be required with some claims)
- Choose the information that they prefer to keep private
- Transport the data (to another organization or even another jurisdiction if they relocate)
- Delete the identity if that’s what is wanted