Recurring political crisis has resulted in a new low when it comes to trusting governments.
The economic downturn of global financial market and frequent market shocks has thrown the trust in financial institutions into an abyss.
Falsification of the notary stamps, revelations of online mass surveillance, and government secrecy has further aggravated distrust.
The major reason behind this growing distrust is the centralization of power and technology, which was the only way of doing business,
UP TILL NOW…
However, innovation is the solution to every problem.
One such innovation was Blockchain technology, which eliminates the need of trust by utilizing a consensus based architecture which continuously keeps everyone up to date in as close to real-time as possible. This innovative architecture eliminates the need of a middleman (or trusted centralized third parties), thus routing around the imperative of trusting a central authority, thereby, putting an end to the threat arising due to a single point of failure. The public blockchain is a network which is cryptographically secured and safeguarded by anonymous counter-parties (called miners), who are incentivized by a ‘mining’ process called ‘Proof of Work’. Sate creates enterprise software solutions using blockchain technology across several industry verticals.