SINGAPORE: Acronis, a provider of hybrid cloud data protection, announces an intiative to develop applications based on Blockchain technology for securing data. The company has set up a dedicated research and development team that is focuses on delivering ‘tamper-proof’ data storage with verifiable sync and share solutions that leverage Blockchain to guarantee data authenticity, privacy and control.
Data protection leveraging Blockchain technology
The blockchain contains a true and verifiable record of each and every transaction made in the system. With Blockchain, data and transactions can only be updated by rules of consensus between participants in the system, new data can’t be erased. Blockchain can address the challenges of multiple assets whose ownership is difficult to define and track. It provides global authenticity and security for data and transactions of any kind, thus, reduces the cost and complexity of centralized systems while making data ‘tamper-proof’.
‘Tamper-proof’ data protection
Acronis is currently extending its data storage solutions and file sync and share solutions with Blockchain technology to monitor data integrity and guarantee validity at all times. Examples of data that can be protected from tampering using Blockchain include property and medical records, stock transfers, chain-of-evidence for court documents, police video or security camera footage, long-term archiving that could be subject to IT audits, and ‘consortium’ data storage, where multiple individuals or entities can securely store and exchange massive amounts of data and information.
Prototype using Blockchain
Acronis unveils a prototype solution to enable its service provider partners and end user customers to leverage the power of Blockchain technology for data protection. The company is collecting Participants’ information in an effort to better understand the market need and potential of Blockchain for data protection.
“The potential for Blockchain reaches far beyond Bitcoin transactions with its built-in ability to deliver data protection and authenticity at costs that are dramatically lower than traditional systems,” says Vitalik Buterin, Co-founder of Ethereum and of Bitcoin Magazine– a Blockchain technology provider and Acronis partner. “By applying Blockchain technology to its solutions, Acronis is the first data protection vendor that we’ve seen embrace this innovative technology to bring new levels of data protection to digital records and transactions.”