The world has become a global village, the internet has made life easier, as so many internet users no longer have to make movements before they get things done. People now make money from home, run transactions, order goods online, and do so many information related tasks. This is the reason why verification of data is very important, as I said earlier people run transactions over the internet without having to meet one on one, which means the need for data verification cannot be over emphasized.
BENEFITS OF DATA VERIFICATION
When Data is verified there is increased trust between individuals that own data and individuals that need to get tasks done related to the data.
Increased transparency
Reduced or limited amount of fraudulent dealings
Reduced copy right or fake data.
This benefits are so mouth watering, but asides data storage,most data storage systems store data run a centralized mode of storage and this mode of storage has several disadvantages which include:-
Risks of loosing huge amount of data at a go when hacked .
Retrieval of data on a centralized database is far harder than on a decentralized database. These cases of security then proves to us that decentralized databases are important to security management. The fact that blockchain technology has come into existence proves that decentralized storage is very possible and can be achieved. So this brings us down to the issue of what platform can bring us both data verification and decentralized data storage . I present to you the Endo protocol, an ecosystem that offers both data verification and added security to data through their decentralized data system.
Benefits of Endo blockchain protocol
The ecosystem runs with very low transaction charges
The Endo protocol will increase the level of trust between two people through the trust in data identity
Copywriting or piracy of data is reduced by a great extent
Crime rates through online frauds will be reduced.
Data can be monetized through the Endo blockchain protocol.
Users are leveraged with flexibility to do whatever they do please with their data .
Transparency level is very high
The Endo protocol has provision for converting hard copy documents with ink signatures to digital verified documents which aids the verification of identity also.
THE ENDO PROTOCOL HAS DISTINCT USE CASES WHICH INCLUDES;
Banking System:- Due to the fact that a bank mainly runs transactions, the Endo blockchain is very favourable as it is fast and secure transactions can be carried out through the Endo blockchain protocol .Education sector:- With Endo blockchain protocol universities and higher institution are able to give degrees to graduates. Now this documents are safely stored and verified on the ecosystem. This brings huge benefits as diplomas must be original, which in turn help organizations employ the real deal.Endo blockchain has provision for automated smart contract technologies.
KYC/AML, FATCA which are utilized in banking systems is also utilized in the Endo blockchain protocol.
FLOW OF DOCUMENTS
Organizations work with various documents, and this documents are to be issued to people or other companies, with the help of blockchain technology and Endo protocol , digital documents can be created and issued faster and more securely. This helps to leverage the work load on workers and even run transactions more efficiently.
EXPENSIVE GOODS
When expensive goods are produced by brand names, they receive certificates of production. This is because the data and certifucates are not well stored, it is likely that leakage of the information and piracy of those goods occur,leading to the company loosing lots and lots of money
MEDICAL INSTITUTIONS
When we go to hospitals, we are registered and given medical cards, these cards are used to store medical information related to patients. This cards are mostly accessible by the doctor and the patients . There are times when fake results are issued to patients due to criminal activities ran behind the scene. With Endo blockchain protocol this issue is not a problem, as all tests and results are recorded, verified, synced in real time to the digital cards. Also there are times when there are issue with locating a patients card, when this physical cards are misplaced, there is a great loss of entire patients health data. This is not cool and can be stopped through the Endo blockchain protocol.
IN CONCLUSION,
There is no point debating the amount of good ,data verification and secure storage can impact in the life of people, which means the Endo blockchain protocol is a very important ecosystem which must be applied . Take advantage of the golden opportunity, live better and secure your documents.
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Writer's Information
Name :- Iyke