Summary: The boom in technological advancement has led to the rapid rise in the development of digital assets & transactions. One of the major technological advancements in the field of digital technology is the advent of the decentralized Blockchain technology.
The Blockchain development technology offers the ease of storing and accessing data in a decentralized manner. Moreover, the advent of the cryptocurrencies like Bitcoin, Ethereum, and others has also revolutionized the digital currency market.
With centralized services, the process of document storage and access becomes vulnerable to major data breaches and might even lead to the denial of service in some cases. In addition to this, the users have no control over the government forcing the services towards disclosing the personal data or on the manner in which data gets stored on the server. The documents in case of centralized storage are always prone to theft from the intruders who might be capable of obtaining the encryption keys.
In such a scenario, the utilization of the decentralized digital locker plays a vital role. A decentralized digital locker is one of the most significant Blockchain-enabled solutions and is developed by high-end, professional Blockchain applications developers out there. A decentralized digital locker by leading Blockchain developer Pune leverages the Blockchain technology of the leading cryptocurrencies. It allows the users to upload & store personal data & documents in the encrypted format. The documents and data are stored in a decentralized manner by making use of the services like IPFS (InterPlanetary File System).
The leading Blockchain development company in Pune is known for building the decentralized Blockchain digital locker prototype by making use of the Ethereum Dapps –wherein the encryption keys are maintained & made accessible only to the specific users of the device. Through this locker, the users are able to share the data & documents in a secure manner with the other users that only they would choose.
Benefits of Decentralized Digital Locker
There are several benefits of a decentralized digital locker developed by some of the best Blockchain developers. Here are some:
- Quick Turnaround Time: With the entire process being digital, the digital lockers offer quicker turnaround time for accessing and storing data & documents stored in a decentralized manner.
- Reduction of Frauds: When the documents are stored in a decentralized manner in a digital locker, there is the prevention from any kind of fraud or breaching. As the data gets stored in an encrypted format, all the documents are authenticated digitally by the agencies. As such, the entire process is safe & secure.
- Central Location: All the data and documents are stored in the digital lockers on servers located in the country. The utilization of the method of two-factor authentication by making use of OTPs (One Time Passwords) offers an additional layer of security.