Edward Snowden The main reason for the success of the blockchain technology is trust

Former NSA employee Edward Snowden (Edward Snowden) recently gave an interview in which he revealed the benefits of distributed data registry technology. He believes that the main reason for introducing the blockchain into the financial sector, government organizations and business is trust.

“Imagine an old database that stores your confidential information and in which anyone can change any data by simply entering new ones and pressing the“ save ”button. Now imagine that this data is your bank balance, which anyone can reset. Not such a bright prospect, only if it is not a loan. I want to say that in such a system it is necessary to trust an unlimited number of outsiders, hoping that they are good and competent. It becomes especially scary when you realize that even if someone changes information, then mankind is not able to trace or prove it. The advantage of the blockchain is that it creates an unchanging story, ”said Snowden.

The idea of the blockchain technology is based on creating real evidence of a transaction between two parties that cannot be challenged. Any changes are immediately recorded in real time. And, most importantly, anyone at any time can get a history of changes.

“In fact, the blockchain can be used in various applications, but you need to understand that this is a very simple concept. All applications that you can think of revolve around one simple idea – a record that is verifiable, ”added Snowden.

He also believes that it is unlikely that major technology companies like Facebook or Google will start implementing blockchain in the near future, however, after a certain elapsed time, this technology will be used everywhere. The former NSA agent also emphasized his admiration for Bitcoin transactions, noting that they are “unbiased”, which creates additional confidence in the technology.

“Transactions in the Bitcoin blockchain cannot be stopped, canceled or returned back unless, of course, most network participants want to do the opposite. For example, if Bank of America does not want to process transactions such as I, then they may not. Or a teenager can do work for an employer from Paris, but will not receive payment due to exchange controls. Cryptocurrency has no such problem. Bitcoin may not be real money, but free is a fact, ”concluded Snowden.

The technology itself is very good and I don’t want it to go after the crypt. If this does not work out, then you need to look for a use in another area where you could make money.

On the contrary, the cryptocurrency should follow this cryptocurrency, and not vice versa, because if it were not for this technology, there would not be anything else.

The technology itself appeared very long ago and very well, that it reached us at least now, and not after many years. During this time, and managed to admire and give up on her.

In order to be able to trust 100%, it is necessary to begin with in order to implement the blockchain technology in as many spheres as possible where it can be applied.

That is the problem that our people have become too trustful because they believe in everything they are offered. Not to say that it’s so bad, but it’s definitely a little good.