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Quick Summary: As blockchain technology continues to evolve and grow, there are many trends that we can see coming in the near future. One of them is how big data will be used in a decentralized manner. Another one is how new business models will arise around this new industry. So when you talk about Blockchain Industry, it all starts with startups and businesses that are embracing its many benefits.
The year 2023 will be marked as the year of blockchain, thanks to its remarkable potential in transforming numerous industries. We explore 10 of the biggest emerging trends in the world’s leading businesses over the next 5 years. After all, it can’t be underestimated just how important the year 2023 will be for blockchain technology and its potential. Let’s take a look and see where they are headed.
More about Blockchain
Blockchain is expected to lead the next phase of digital transformation. The blockchain is essentially a decentralized digital ledger that records transactions in a chronological chain. The distributed nature of this database makes it nearly impossible for someone to tamper with data or add new blocks to the chain, which enforces trust and security on the network.
As a result, the blockchain is the perfect tool for tamper-proof and secure information storage and transmission. For instance, the financial sector has expressed a lot of interest in blockchain technology trends since it has the potential to completely change how we conduct transactions by doing away with middlemen like banks and payment processors.
The decentralized nature of the blockchain is one of its fundamental characteristics. The blockchain is maintained by a network of users whom each has equal ownership over the database, in contrast to traditional databases, which are often managed by a single institution. As a result, it is far more challenging for one entity to falsify the data or have an improper impact on the network. The transparency of the blockchain is another key component. Every transaction that is recorded on the blockchain is visible to everyone on the network, which allows for greater accountability and reduces the risk of fraud and corruption.
Let’s take a look at the biggest blockchain trends to emerge in 2023 and what the future holds for this powerful technology.
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6 Most Exciting Blockchain Trends to Look Out For in 2023

Value Chains

Blockchain technology facilitates traceability across the entire supply chain. Since blockchains store data in a digital decentralized ledger, they provide instant access to the status or authenticity of a product. This enhances efficiency, ensures reliability, and creates a global value chain of goods.

Decentralized Finance (DeFi) and Regenerative Finance (ReFi) will continue to gain steam

DeFi is a blockchain-based form of finance where users don’t need to go through traditional intermediaries like banks or other financial institutions. Instead, they can directly access lending, borrowing, and investment services on the blockchain network.
As an established discipline that uses blockchain, DeFi will veer away from outdated practices in finance. By using blockchain technology, banks, and financial institutions can expedite their lending and loan processes, such as checking credit scores. Cred Protocol, a DeFi-based startup, has developed a credit scoring system for such transactions.
On the other hand, ReFi in cryptocurrency aims to utilize blockchain technology to ripple positive impact and solve systematic problems such as climate change. This is still a new and budding concept, but we can expect it to develop as blockchain accelerates.
These two technologies have become increasingly popular recently, and we expect to see them gaining even more momentum in 2023.

Blockchain and IoT Integration

As the world becomes increasingly linked through the Internet of Things, we will likely see blockchain and IoT integration becoming more popular. This is mainly as we move towards a world where everything is interconnected. Blockchain could provide transparency and security for data which helps users connect in better and more innovative ways than ever before.
With blockchain, businesses can authenticate devices on the IoT and verify transactions between users and machines. Plus, it provides data privacy, which will become increasingly important as more people begin using blockchain-powered devices.

Blockchain-as-a-Service

With the increasing popularity of the Technology-as-a-Service concept, we can expect an increase in the number of such blockchain platforms as well. In short, Blockchain-as-a-Service allows customers to use all the best features of this technology without creating their platform: they can access the cloud and build apps, execute smart contracts, and enjoy the existing well-developed infrastructure.
Several providers, including Amazon, are already providing BaaS, and we expect more companies to join this market. For example, a few months ago Huawei launched its own Blockchain Service allowing its clients to use this technology via HUAWEI CLOUD.

Data Marketplaces

The increasing application of AI demands a lot of quality user data that can be quite hard to obtain. To satisfy this demand, startups are proposing the concept of a “data marketplace’, blockchain-based applications where individuals can sell their personal data. One of the main blockchain principles is that the data cannot be deleted or altered from the network, so such an environment will be secure enough to eliminate leak risks and other privacy violations.
There were several startups like CyberVein devoted to the idea of a data marketplace, and this concept seems promising enough to expect more such projects in the future.
Blockchain In Financial Services
Blockchain can streamline banking and lending services, reducing counterparty risk, and decreasing issuance and settlement times. It allows Authenticated documentation and KYC/AML data, reducing operational risks and enabling real-time verification of financial documents.

Conclusion: Blockchain has a Bright Future Ahead!

The future of blockchain technology is, undoubtedly, bright. And by overcoming the challenges associated with it, more individuals and businesses can join this growing community and share its benefits. Even after facing certain issues in the past years, blockchain remains a promising technology and is spreading its possibilities to new industries.

As one of the premier web and mobile app development company, Brain Inventory have assembled an expert team to design Blockchains. Our multi-disciplinary domain experts provide a comprehensive and tailored experience throughout the entire blockchain development lifecycle. Our blockchain services encompass Artificial Intelligence, data analysis, IoT, and web security to enable successful results.

So prepare yourself for a successful journey!

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Introduction: Today we will discuss about a topic which is known to give us sleepless nights. Yes, It is Cyber crime. With ever evolving advanced technology comes a non controllable risk of it back firing i.e. cyber crime. The number of cybercrime cases in India, registered under the IT Act, increased at a rate of 300 percent between 2011 and 2014. In 2015, there were 11,592 cases of cyber crime registered in India. Let us discuss what is cyber crime. What are the types and what do they mean and let’s conclude by discussing some basic activities we can incorporate in our daily internet usage to avoid these situations. Cyber crime is most prevalent in the banking space and on social media. The number of cyber crimes related to social media acrossin 2017 in India was approximately 328 compared to 155 in 2016. The number of cyber crimes related to online banking across India was approximately 2,095 in 2017 compared to 1,343 in 2016.
Basic Terminologies:
Hacker: A computer hacker is a skilled computer expert that uses his/her technical knowledge to overcome a problem. While a “hacker” educates himself for good it is currently popular for the wrong deeds i.e. “security hacker”. Here a hacker misuses his/her technical knowledge and utilises bugs to break into a computer system without owners permission. If Hacking knowledge is used for malicious purposes, the person is referred to as a security breacher i.e. cracker.
Malware: Malware is a specific software purposefully designed to cause damage to a computer, server, client, or computer network. Malware does the damage after it enters a device through any medium. Malware has a malicious intent, acting against the interest of the computer user and hence does not comprise of softwares that cause unintentional harm due to some deficiency, which is generally labelled as a software bug.
Virus/Worms: A computer worm is an independent malware computer program that multiplies itself in order to spread to other computer devices. A worm/ Virus generally uses a computer network to replicate itself, relying on security failures on the target computer to access it. the only difference between a worm and a virus is that a Worm results into harming the network, whereas a virus modifies files and in that process corrupts the targeted computer.
Trojan Horses: We all know The Trojan Horse story from the Trojan War about a medium the Greeks used to enter the independent city of Troy and won the war. A trojan horse in computing language has the same logic. A trojan horse is a special type of malware that pretends to do a certain job, but in reality it does something really bad. Example, it allows a stranger to access the computer enabling him/her to view and edit information. In some cases the user notices certain change or errors but does not take it seriously. Spyware programs are examples of programs that work as trojans.
Password cracking: Keeping in mind computer security, password cracking is the process of recovering passwords from data that has been stored in or transmitted by a computer system. A common way to crack a password is by trying guesses continuously and check them against hash values available. Though password cracking came into existence for may mighty good reasons. E.g. To help a user recover a forgotten password, to gain unauthorized access to a system, or as a preventive measure by system administrators to check for easily crackable passwords. Sadly, password cracker is a powerful study, and power in the hands of the wrong is used for the wrong deeds.
Cyber crime is never 100% avoidable, but you can avoid them as far as possible if you follow these basic practices:
Basic checklist to avoid cyber crime:
Avoid using unsupported software: An unsupported/illegal software is the carrier to major and maximum bugs/viruses. Due to weak security software is compromised and becomes vulnerable to a cyber-attack. It is also a house for most hackers and trojan horses making it the most commonly used medium to enter your system. To leverage the benefits of an up-to-date security update, such as improved speed and efficiency, we recommend the use of only supported software on your systems and devices.
Use updated softwares: A virus finds its way when operating systems like Windows, apps, web browsers, etc. are no longer updated by the user. Though the software will still do its job, it will no longer protect against new online threats. Updates or patching by a supplier is often released to counter newly found bugs/viruses hence improving your security.
Run an up to date anti-virus software: As understood in this article, you computer devices can easily be infected by small pieces of software called malware. To stay away from infections, we recommend you install internet security software which will warn you against malware infected download items and also have an up-to-date anti virus software to detect already infected files in your device which could lead to major data loss issues in the near future.
Use strong passwords: Remember this password mantra, It must be easy to recollect but hard to guess. It is best not to use information like, your surname, your date of birth or your pet’s name in a password, as this information is widely available on your social media profile page. We recommend using random words and symbols to make it stronger and difficult to guess. We also recommend you to generate a different password for less important things v/s very important things. Your social media password should not even be close to similar to your internet banking password. Imagine if your facebook profile is hacked? So your banking online account is at threat too. For your most critical accounts, if there is an option, you should use the Two-Factor Authentication process of security. This means you have added a second step post entering your password. E.g. providing a fingerprint, answering a security question, or Mobile OTP.
Change passwords once every 6 months: There are multiple government TV advertisements running which tell us not to disclose our passwords to public. It could be a family dinner gathering or an official business party, no one has the right to ask for your ATM pin. In case you did? You must immediately change the password to avoid cyber crime cases. Remember, your password is a secret which not even your best buddies should know.
Delete suspicious emails and avoid clicking on unknown links or attachments: Email has been an excellent communication tool but sadly is frequently used to deliver unwanted or unwelcome material. Ever imagined why Gmail and other email operators segregates your emails are spam or junk? At best this is annoying and at worst it can be malicious, causing considerable harm to your computer and organisation. They identify emailers who often share malicious content and try to warn you against them. The only way to stay protected is by deleting suspicious emails and not clicking on the links or files attached to these emails. Responding to such ‘phishing’ emails can be dangerous too because if you do so, you are indirectly passing a message to the sender that this email address is active.
Backup your cloud data often: If your device is attacked by a hacker or infected by a virus, your data may be damaged, deleted, stolen or even held to ransom, which means you have no access to your data henceforth. Hence we recomment you safeguard your most vital data by backing it up to a secured external hard drive. You should also ensure you regularly do so, to have the latest versions of your data and face minimum/negligible data loss.

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Are you struggling to build a strong social media presence for your brand or business? Look no further than Bibook, the powerful social media management platform that can help take your social media game to the next level.
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One of the most important aspects of building a strong social media presence is consistency. With Bibook, you can plan and schedule your social media content in advance, ensuring that you have a consistent presence on all your social media platforms. This feature saves you time and effort, allowing you to focus on other important aspects of your business.
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Another key feature of Bibook is its analytics capabilities. With Bibook, you can track your social media performance, gain insights into your audience’s behavior, and adjust your social media strategy accordingly. This feature enables you to optimize your social media efforts and achieve better results.
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In addition to planning and analytics, Bibook also offers content creation tools and a unified inbox. The content creation tools allow you to create engaging and visually appealing content for your social media platforms. The unified inbox, on the other hand, enables you to manage all your social media messages in one place, saving you time and simplifying your social media management.
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Unlocking the Power of Decentralization: Benefits of Blockchain Social Platforms
Decentralization: Blockchain social platforms are not controlled by any central authority, which means that there is no single point of failure. This makes the platform more secure and less susceptible to hacking and other cyber threats.
Transparency: Transactions on blockchain social platforms are transparent and immutable, meaning that they cannot be altered or deleted. This provides greater accountability and transparency, which can help build trust among users.
Incentivization: Many blockchain social platforms incentivize users to contribute to the platform through tokens or other rewards. This can help build a community of engaged users who are invested in the success of the platform.
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Key Features of Bitechchain Blockchain Social Platform:
Smart contracts: Blockchain social platforms often utilize smart contracts to automate certain processes and ensure that transactions are executed without the need for intermediaries. This provides a more efficient and streamlined experience for users.
Tokenization: Many blockchain social platforms use tokens as a form of currency on the platform, which can be used to buy goods and services or traded on cryptocurrency exchanges. This allows for greater flexibility and control over how users interact with the platform.
Privacy: Blockchain social platforms prioritize privacy and allow users to control their own data. This means that users have the ability to choose what information they share with others and how that information is used, which helps to protect user data and build trust among users.
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In conclusion, building a strong social media presence can be challenging, but Bitechchain and other blockchain social platforms offer unique advantages that can help you achieve your goals. By leveraging the benefits of decentralization, transparency, and incentivization, Bitechchain provides a secure and engaging platform for users to connect and share content.
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With features like smart contracts, tokenization, and privacy controls, Bitechchain allows users to have greater control over their interactions and data on the platform. This creates a more personalized and satisfying social media experience, while also fostering a sense of community and ownership among users.
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As blockchain technology continues to evolve, we can expect to see even more innovative features and benefits in the world of social media. Whether you’re a content creator, marketer, or simply looking to connect with like-minded individuals, Bitechchain and other blockchain social platforms offer exciting new possibilities for building your brand and expanding your reach.