Real, clear and verifiable: Blockchain offers many security advantages. Immutable Insight founder Katharina Gehra discusses how you can invest in technology, what opportunities it offers, and why the energy discussion is unnecessarily slowing down on “She Speaks Fiance.”
Katharina Gehra, blockchain expert at “She Speaks Finance”: “Blockchain is more secure. This makes transactions between two parties possible without you needing a third party.
THE INVESTMENT: What exactly is blockchain and why was it developed?
Catherine Gehra: The idea behind blockchain, or the problem it aims to solve, is about digital integrity. The question: How can a digital file become tamper-proof? If you hacked into Google.com today and added malicious content to it, you couldn’t prove that just an hour ago Google.com was the normal search engine we use every day.
Money and valuables you send can now be copied as easily as a PDF you send as an email attachment. You can protect it with a password, but you can’t prove that file is exactly that file. And until you can do that, you can’t quite scan a lot of stuff, but somewhere you have a PDF that you have to download, sign, and send somewhere. Or you have to deal with two-factor authentication or a tan somewhere. And this is one of the great drawbacks of the Internet as we know it so far.
Electronic files on the decentralized blockchain much more secure
Just as a piece of paper becomes a deed by a signature of two parties and a notary, despite being a perfectly normal piece of paper, a normal Word document stored on a blockchain can now become a deed testamentary. It’s real, it’s clear and it’s verifiable. And this is the particularity of the blockchain and one of its essential functionalities.
in the Deutschlandfunk I’ve heard the example before that an electronic file on a decentralized blockchain is more secure the size of a grain of sand on a beach is the size of the globe than an electronic file on the Internet d ‘today. We are therefore talking here about a significantly higher level of security. And if you think about the problems we have with cybersecurity and cyberwarfare today, obviously blockchain is so much better. So short and sweet: Blockchain is more secure. It makes transactions between two parties possible without you needing a third party.
Can you explain in simple terms how blockchain technology works so that it can be visualized?
Katherine: A blockchain, in simple terms, is a string of data that we share in a network and publicly agree to. In a process where there is no central and decisive actor who determines what is the next correct file. In other words, we say Google was that yesterday, Google was that the day before yesterday. And if we want to change Google now, one of us can’t just do it and hack it, one of us can suggest it and everyone has to confirm it before it becomes a reality.