Technology Magazine May 2023 | Page 105

DATA & ANALYTICS

“ Blockchain has only been around for a little over 10 years and , in that time , it has been widely adopted across the financial sector and beyond ”

MO SAHIB CEO , BORDERLESS SECURITY AND FILESDNA
CEO of Borderless Security and FilesDNA . “ In its simplest terms , imagine making multiple copies of a document . Each time the document is viewed , moved , or opened , it ’ s compared with all the other scopes to ensure no changes or errors have been introduced . This all happens automatically without the need for human interaction . If someone attempts to change a document or access something they should not be accessing , those instances can be easily identified .”
From product identifiers to medical records or land registries , blockchain and distributed ledger technologies are already functioning in many sectors . According to the World Economic Forum , up to 10 % of global GDP could be stored on blockchains by 2025 .
“ We have never lived in a time with so many transformative technologies ,” says futurist and business advisor Bernard Marr . “ Tech trends like ML , robotics , blockchain , and the metaverse are revamping every business in every industry .”
Data is the lifeblood of successful companies , according to Marr , but this comes with a huge responsibility . “ Companies must keep information safe
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