The need to protect personal data is now more acute than ever since a huge amount of information is stored electronically. Because of it, there is a high risk of hacking and theft. Blockchain technologies in mobile apps provide users with the highest level of application security management
While they are most prevalent in finance and banking, these app market trends have now made their way into retail, real estate, energy, and entertainment spheres. For example, the Sony Music department in Japan
uses this technology to protect copyrights.
Among the trend limitations, we'd like to note its novelty and some “immaturity.” It leads to some issues, for instance, with scalability. For comparison, Ethereum (based on this technology) processes 20 transactions per second
, while the more common Visa — about 24000 tps.
- Blockchain technology makes any mobile business more secure.
- It enhances information protection while maintaining transparency.
- It minimizes the possibility of hacking and theft of sensitive data.