It seems the word on everyone’s lips is the blockchain. How much of it is hype, and how much is real?
What is blockchain, really?
The blockchain is heavily associated with cryptocurrencies, such as Bitcoin. But quite frankly, at QEM, we know it’s much more important than that: blockchain can underpin the quality and security of any business.
The way the blockchain works is that each new block of transactions includes a cryptographic hash of the previous row.
That means you can’t just change a row. You have to unwind the whole chain. If you do that, then your version of the data is inconsistent with everyone else’s, and will be ignored.
It‘s the combination of cryptography and community that makes it work. It’s a wonderfully elegant idea.
Isolations and the blockchain
But it’s not just elegant. Blockchain has powerful business benefits. Especially in the engineering industry. And that’s why we’ve created iSOL8 – which will not just carry out swift and secure isolations, but will write them to the blockchain.
What that gives us (and you!) is a tamperproof ledger. We can prove – using mathematics – what happened at a certain time.
Why is that important? Because it means that if you ever find yourself in court, you can make your case using the immutable laws of mathematics, and blockchain proof.
Blockchain means trust
It also means you’re trustworthy. If your systems write information to the blockchain, it means you have nothing to hide. That gives trustworthy businesses a competitive advantage over untrustworthy ones.
The fuss over Bitcoin will eventually die down. Then we’re left with the real benefits of this impressive technology.
It appears safety systems and the blockchain are the perfect fit.
Exciting times!
Want to find out more? https://www.qemsolutions.com/software-solutions/isol8