Blockchain technology and Cloud 2.0 integrated into Business Systems

Mr. Armando Mancini

Universitŕ Roma TRE

ABSTRACT

The Cloud industry has created an almost billion dollar ecosystem. But it is only the first step. Blockchain technology is the next logical iteration of computing. Cloud technology was the first to move away from centralization. Businesses needed to archive files and have sufficient computing power on a daily basis. However, the server rooms required maintenance, constant security, proper provisioning, and regular updates. By moving servers offsite (or to the cloud), companies have been able to expand their operations beyond the limits of their hardware. Today, companies can move offices virtually anywhere and even hire remote workers with ease. Computers and smartphones are simply bridges to more processing power concentrated elsewhere. Blockchain is introducing the second iteration of the computation framework. Through distributed ledger technology, Blockchains create secure, immutable and democratic computing networks. This could lead to non-hackable web programs and services, transparent networks, and increased system reliability. The concept of Blockchain could apparently seem similar to that of the cloud: considering the “Sharing” of information, which can be data or otherwise; the cloud, in fact, allows users to have a company (e.g. Google or Amazon) to which they can entrust their data to be able to use them "on demand" from any workstation connected to the internet. By carefully analysing blockchain technology, the differences begin to be evident. Technically we speak of DLT: Distributed Ledger Technology, i.e. the shared ledger technology. Blockchain specializes in DLTs for the way and the tools it uses to structure itself and achieve its purpose. While the cloud is based on the sharing of data, the storing of them, their retrieval via the web, the blockchain "transfers (shares) value". It is in fact capable of protecting at high levels the value of a data (a document, a software, a consultancy, an article) and of transferring it to someone else in a secure, traceable way, even in the case of particular documents such as accounting, administrative. If the cloud security system stops at the classic login-passwords, the blockchain adds elements of difficulty such as hashing, private and public keys, time-stamps, distribution and total decentralization of the ledger (database), the block structure.

 

KEYWORDS

Blockchain; Cloud; Accounting; Business Systems; Innovation.

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