In the last 10 to 12 years or so, cloud computing has redefined the landscape of business software, remote collaboration, and so many other aspects of what we do every day in the “knowledge economy.” Now, we’re about to level up to version 2.0 of cloud computing. Of course, there are various ideas out there on what will define this latest iteration of the cloud—but one of the most exciting developments is the imminent merging of cloud storage and blockchain technology. You’re going to be hearing a lot more about that and Imaging Office Cloud Services in the coming months, but for now, I wanted to give everyone a little preview of what blockchain-powered cloud storage could mean for you and your business…
Blockchain-Based Cloud Storage: What Is It and Why It Matters
The architecture of blockchain-based cloud storage will vary from blockchain to blockchain, but other than a few minor differences, they’ll all work in a similar way…
Blockchain-based cloud storage provides the ability to accurately track the storage and backup history of data in order to confirm its integrity. As different blocks of data are sequentially linked through cryptographic hashes, data is automatically organized in a verifiable order. As every single block is linked to the previous ones, it produces a decentralized, encrypted, and verifiable transaction ledger in a distributed form.
How it works is data gets divided into different encrypted, interconnected segments, using hash algorithms. These secured segments distribute decentralized across a peer-to-peer network, which features strong security infrastructure at work, like secure transaction ledgers and 256-bit encryption through public/private key. All of it works together to assure a whole new level of reliability and robust security against hackers. Even the craftiest of hackers can’t break 256-bit encryption!
More Benefits of Blockchain-Powered Cloud Storage
- Blockchain-based cloud storage provides speeds up to 10 times faster than current conventional technology and can cut expenses up to 50%.
- Only end users with client-side encryption have access to encryption keys and un-encrypted files, a protocol that provides the data owner full control over who has access.
- Blockchain provides complete transparency of all activity on the network and ensures that each transaction can be verified at any time…and also provides immutable transaction records to verify ownership and identity.
- The distributed, hash-encrypted ecosystem of blockchain-powered storage also helps build trust by proactively protecting against handling errors and fraud by not allowing breaches in compliance standards by any member of the network.
Blockchain-based cloud storage really does represent the optimal blend of security and scalability. The extra layer of security makes it ideal for sensitive data storage. By integrating blockchain-powered cloud storage, a business can reduce their IT expenditure, enhance security, and streamline the flow of information.
We’ll be talking more about blockchain-based cloud storage in the weeks and months ahead, but I just wanted to let you know through this blog that we are working on some exciting developments with Imaging Office Cloud Services…and I can’t wait to tell you more!