TRUST – Data Reliability & Verifiability

Mother and child with palm to palm hands

Blockchain can make exchanges more private and secure, boost speed, expand access to participants, enhance transparency and accuracy, reduce costs, simplify operations, and increase the quality and quantity of available data. Overall Blockchain could increase global trade by $ 1.1 trillion by 2026 from the current base of $ 16 trillion – Bain & Company

The head of scandal-hit Japanese steelmaker Kobe Steel announced his resignation today after the firm submitted false strength and quality data for products shipped to hundreds of clients worldwide. – PTINews.Com

Fraud and corruption in education exist in various forms beyond contract-cheating. Its global manifestations include diploma mills and the counterfeiting of academic documents, as well as bribery to ensure the licensing of academic institutions, the hiring of academic staff, the passing of examinations, admission into education programs and the award of degrees. – WENR

One US study from Resources Information Systems Inc. estimates that companies spend about $8 billion per year managing paper. – DocuSign.Com

“Blockchain should not be a tech to get rich overnight. There are still 1.7 billion people in the world who have no bank accounts, but most of them have mobile phones. The impact of blockchain on the future of humans may be far beyond our imagination.” – Jack Ma, CEO – Alibaba

The common theme has Trust at its core, or the lack of it. Internet changed human race forever. Data, transactions, interactions, devices, governments and education to name a few all went digital. Now we are at a stage where the benefits of this phenomenal transformation through connectivity and digital data are being taken away from us right under our noses. Why? Simple – Lack of Inter-Party Trust, Reliable or Verifiable Data and resultant prevalence of  risk and loss in business transactions and institutional interactions.

For long governments have legislated to protect interests of Institutions & Individuals by defining data privacy guidelines. No longer are these effective tools in isolation as technology and connectivity has led to dilution. And it is technology that can and will fix this problem through an ever connected world – A world where governments, private institutions, people and small businesses will all come together to create and operate data interchanges. ThynkBlynk’s ChainTrail.Com is a unique solution that uses distributed ledger technology Blockchain, to do just that. To know more, please explore our pages or visit ChainTrail.Com.