05 October 2018
The blockchain operates on a distributed database hosted across a network of multiple participants. Data – which can include financial transactions, personal information, supply manifests ̶ is recorded on a digital ledger, which everyone within a designated network can access.
More importantly, this process occurs without the presence of a central authority or an intermediary; this removes some of the risks associated with the centralised control of data. Since the network reflects every change made on the blockchain, it is impossible for anyone to falsify any transaction without leaving a trace. This ensures traceability, transparency and security of the data.
…Christopher Chen is a Research Associate with the Centre for Non-Traditional Security (NTS) Studies at S. Rajaratnam School of International Studies (RSIS), Nanyang Technological University (NTU), Singapore. This is the first in a series on New Trends in Humanitarian Assistance.
NTS Centre / Online
Last updated on 08/10/2018