Categories: CryptoNews

Data Protection Firm Acronis Invests In Blockchain Technology

Many companies around the world keep a close eye on the blockchain these days, as the technology can be used in a variety of ways. Especially the data protection sector is of significant importance, and Acronis is the first firm in this industry to look at distributed ledgers for data protection.

Acronis Wants The Blockchain To Secure Data

Although details are still very hard to come by at this time, it has become clear data protection firm Acronis is warming up to blockchain technology. In fact, they are the first company in this particular industry to openly explore the boundaries of what this technology can do, and how it can be of use to their business model.

Or to be more precise, Acronis has unveiled their prototype, which lets users time-stamp important data and prevent it from being tampered with. This type of security has been on public display through the Bitcoin cryptocurrency, which is running on top of blockchain technology for several years now.

As one would come to expect, Acronis freed up some of their capital to invest in this technology, yet no numbers were disclosed. However, the company seems very pleased with the results so far, as customers can enter new data, without worrying whether or not it can be erased by someone else. Additionally, anyone who modifies the data leaves a public trail on the blockchain.

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Among the types of data that need to be protected in a more secure manner are medical records, property records, and even security camera footage. Ensuring the evidence is tamper-proof is of great importance in all of these industries, and the blockchain lends itself perfectly for that type of purpose.

As part of this ongoing trial, Acronis has formed a ten-man blockchain department to research the technology and implement it in their own data storage products. Since no one has come up with a way to hack the blockchain – and probably never will either – this technology is well worth exploring in the ongoing fight against internet criminals and hackers.

Source: Straits Times

Images credit 1,2

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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