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- Trend snippet: Despite rapid developments, three challenges hinder the widespread adoption of blockchain solutions
Trends in Security Information
The HSD Trendmonitor is designed to provide access to relevant content on various subjects in the safety and security domain, to identify relevant developments and to connect knowledge and organisations. The safety and security domain encompasses a vast number of subjects. Four relevant taxonomies (type of threat or opportunity, victim, source of threat and domain of application) have been constructed in order to visualize all of these subjects. The taxonomies and related category descriptions have been carefully composed according to other taxonomies, European and international standards and our own expertise.
In order to identify safety and security related trends, relevant reports and HSD news articles are continuously scanned, analysed and classified by hand according to the four taxonomies. This results in a wide array of observations, which we call ‘Trend Snippets’. Multiple Trend Snippets combined can provide insights into safety and security trends. The size of the circles shows the relative weight of the topic, the filters can be used to further select the most relevant content for you. If you have an addition, question or remark, drop us a line at info@securitydelta.nl.
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Despite rapid developments, three challenges hinder the widespread adoption of blockchain solutions
-limited scalability: As the amount of data stored continues to increase, blockchain systems tend to become slower and have much greater storage demands.
-the competition paradox: . The technology enables or forces competing parties from
all over the world to cooperate equally to redefine markets and improve global industries. It can be difficult to get competitors to work together.
-privacy challenges: how can we justify information and transactions being memorised forever?
The key challenges: scalability, competition paradox and privacy
Despite rapid developments, three major challenges continue to hinder the widespread adoption of blockchain solutions: limited scalability, the competition paradox and privacy challenges.
Challenge #1: Scalability
As mentioned, blockchain ecosystems are designed to store all transactions from day one, thereby guaranteeing transparency and traceability. The challenge is, this endless record of transactions greatly limits scalability. As the amount of data stored continues to increase, blockchain systems tend to become slower and, naturally, have much greater storage demands.
Challenge #2: Competition paradox
Another challenge when it comes to blockchain technology is the so-called competition paradox. The technology enables – or, in fact, forces – competing parties from all over the world to cooperate equally to redefine markets and improve global industries. Naturally, it can be difficult to get competitors to work together.
Challenge #3: Privacy
The fact that blockchain networks have eternal memory poses yet another challenge: the issue of privacy. This is particularly problematic in light of the General Data Protection Regulation (GDPR) – how can we justify information and transactions being memorised forever? While the GDPR enforces people’s right “to be forgotten”, blockchain technology makes forgetting impossible. It seems to contradict the way the world is going. The question is, how can blockchain and privacy co-exist? We know that there are answers to this conundrum, and many people are working hard to find them, but we haven’t yet discovered an ultimate solution. Aside from these three key challenges, there’s also the struggle to ensure that all data stored in a blockchain is actually reliable. Involved parties simply have to trust that the information is accurate, and for obvious reasons, that’s not always easy to do.