Blockchain was a digitized, decentralized, public ledger of all cryptocurrency transactions. At current stage, it has been extended to various industries such as music, insurance, and Internet of Things (IOT) devices due to its ensured safety of data. It is a means of further protecting information transferal. Businsoft tries to incorporate blockchain technology into everyday life, acting as one of the pioneers in the HK market.
The Blockchain system requires no third party to transfer the information needed, once you have typed in your data, it will be transformed into encrypted information and it can never be changed, not even yourself. When you wish to share it, the data will be decoded by the system and sent to the recipient directly on behalf of your approval, no one else will be able to read or change anything. Hence a high level of safety is assured.
Factual information input such as personal identity and graduate certificate could be verified by multiples organisation, such as government or university. This feature assures the validation of the data, such as personal information, educational certificate or job experience.
Fast Transferal and Lower Cost
Replacing third-party organizations with a distributed database enables Blockchain to transfer information faster and with lower cost. Due to the previous verification of the encrypted information, recipients will receive the data needed in seconds of time. In addition, there will not be any extra charge in between the transferring process (eg. eliminate the service charges by banks or organizations).