The term “data sharing” refers to a set of procedures, techniques, cultural factors, and legal frameworks that are pertinent to digital content transactions between various types of entities.
Data sharing enables statistical authorities to better estimate variables by merging data. It also stimulates deeper connectivity and interaction amongst specialists, which leads to better decision-making. As many people believe transparency and availability to be part of this empirical method, many research programs, organizations, and publishing outlets have specific policies about data sharing.
Blockchain is here to enhance this already existing and useful technology, as it has done in several other organizational activities in the past. The decentralized network of blockchain facilitates the process of sharing and controlling data across organizations. Either Public or Private blockchain will be much more efficient as they offer safety and speed to the process.
A public blockchain is described as an open network. Anyone can download the protocol and read, write or share the data which is protected since it is impossible to change or edit data after it has been verified in the network. It is distributed and decentralized. In a private blockchain, only a single organization can read and write on the ledger. Access restrictions limit the number of people who can engage in a private blockchain ecosystem. Both are append-only ledgers, meaning that records can be inserted but not changed or erased. As a result, these are known as immutable records.
BLOCK.CO’s objective is to ensure privacy and user control while at the same time transforming how institutions handle and share digital records. In a verifiable manner, our solution monitors all information about transmitted data, while making sure digital documents are impossible to falsify and untampered with, through automated processes. Apart from that, BLOCK.CO’s platform offers the ability to the issuing organization to set expiration dates or revoke documents. We empower recipients with ownership of their data while distributing their information.
If you liked this article, why don’t you have a look at our Application of Blockchain technology in the Government Sector — Part II article? Show your appreciation by clapping on our articles!
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