When we hear the names cryptocurrency or Bitcoin, the technology that most often comes to mind is blockchain. Most of us think this technology is limited to digital currency transactions. In reality, however, its applications are immense. From enhancing the security of your personal land deeds to processing highly complex databases, and solving various multifaceted problems, all these can be easily done using this technology. So, in today’s article, we will explore what blockchain technology is and how it can secure everything from your land deeds to your health records.
What is Blockchain and Why Is It ‘Immutable’?
Blockchain is a decentralized database, meaning it is not controlled by any single individual, organization, or central authority. From the name ‘blockchain’ itself, you probably already have some idea about how it works. Essentially, in blockchain technology, information is stored in the form of ‘blocks,’ and these blocks are linked together one after another like a chain—just as the links of a metal chain are joined sequentially.
1. Block: Each block stores some transaction information or other digital data. For example, if you send someone 1,000 Taka—the information about this transaction is stored in a block.
2. Chain: After a block is completed, it is secured using a complex mathematical process called cryptographic hashing, and it becomes linked to the previous block. In this way, a long chain is created.
3. Decentralized: One of its most important features is that this information is not stored on any particular server. Rather, identical copies of the information are distributed across thousands of computers or nodes worldwide.
Why Is It Immutable?
If someone wants to alter any data or block in the chain, they would have to simultaneously alter every copy of that block on thousands of computers, and also recreate the complex mathematical code called cryptographic hash. This is nearly impossible. That is why, once information is recorded on the blockchain, it remains unchanged forever.
You might now be wondering,
How Can Blockchain Technology Secure Our Land Deeds and Serve Other Personal Purposes?
Let’s answer that. Since the data on blockchain is immutable, decentralized, and free from third-party influence, it ensures the highest level of reliability. Therefore, its use across various personal and governmental sectors could bring tremendous change:
Land Records and Deeds: In Bangladesh, land ownership disputes and deed forgery are major problems. You or someone close to you has probably faced this issue in some form. Blockchain could be the ideal solution. Once land ownership information and deeds are securely recorded on the blockchain, it becomes impossible to forge or illegally alter them. This would not only eliminate corruption related to land but also ensure the absolute security of your title deeds.
Healthcare and Medical Records: Blockchain can be used to store patients’ health records. This would keep prescriptions, test reports, and other data secure, enabling any hospital or doctor to quickly and accurately verify a patient’s information.
Voting Systems: Blockchain-based voting systems can be developed that ensure transparency and accuracy of votes. Once a vote is cast, it cannot be changed, and the entire process will remain transparent to everyone.
Supply Chain: The entire journey of a product (such as medicine, food, or clothing)—from its origin to how it is processed—can be tracked using blockchain. This will eliminate doubts about food adulteration or product quality.
In addition to these, blockchain has many other applications as well.
So, blockchain is not just a technical concept; it is a new framework for building trust in the digital world. For a developing country like Bangladesh, where transparency and security are severely lacking, blockchain could serve as an effective solution.
MD. ALIM
Independent Researcher
Govt MM Ali College
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