Blockchain technology could usher in a new era of large-scale data sharing while allowing private data to stay secure, says Shidan Gouran, CEO of Global Blockchain.
TechRepublic's Dan Patterson spoke to CEO of Global Blockchain, Shidan Gouran, about blockchain as a game changer, in which big data can also secure private data. The following is an edited transcript of the interview.
Dan Patterson: Explain how the blockchain helped facilitate this. I think inside the technology industry there is a fundamental understanding of the complexities and the nuances of the blockchain. But for those who aren't well schooled on that, help us understand how the blockchain can help media companies, not just with imprinting media on the chain itself. But by creating different types of tokens and coins that can be exchanged for the attention currency.
SEE: Quick glossary: Blockchain (Tech Pro Research)
Shidan Gouran: The blockchain gives you a trustless system where you know the person really earned the token. The portal operator can't rig it. The user can't rig it. It's mathematically shown that it's very difficult to do that. And it's a third party system that many, many different sites can use, right? Tokens, such as VIT, or Steem, is another one that follow the same model, and there's a few others that provide this. It's an independent currency, that you know is being generated fairly. It can't be gained. It can't be gained again, by the portal operator or the user. There are mechanisms in place for that. That's their innovation, providing those systems. And that's why blockchain makes a lot of sense. Again, it's not dealing with one site with a database, like Reddit, with their Reddit Gold, but you're dealing with a network of sites who are not related to each other, who are all adopting similar currencies."
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