Blockchain and cryptocurrency have been at the center of the financial industry for the past year as investments and gains have skyrocketed accordingly. One of the newest markets using blockchain technology is a way to anonymously message one another. The world’s first crypto-communicator known as BitVault, will use blockchain technology to send messages anonymously between user’s.
The company has released a statement about how they”use the principle that you are the key. All keys for encryption are generated by taking your iris, fingerprints and using NFC. They are generated dynamically and randomly and destroyed upon use. If I make a secure call, it goes through multi-levels of encryption and each key for encryption is generated on the fly and is destroyed soon after use.”
This technology comes after the recent waves of cryptocurrency taking over the economy around the world. With it’s well known and widely regarded privacy features, cryptocurrency and the blockchain network as a whole, has taken the world by storm and does not appear to be slowing down anytime soon.
This application is just the beginning for the applications of blockchain technology. Several governments around the world have begun to test their own forms of the technology and how they can integrate it across the board. Blockchain technology has uses in many sectors such as economic, security, health and more.
Although this tech is not new, it has only recently had some sort of realization by the public of its full potential. As it gains traction around the world, the potential of blockchain to revolutionize many of the systems we currently have in place, becomes uncanny. Several leaders around the world have been quoted stating that the use of blockchain technology can change the world, and it appears that it is only just the beginning.