Ethereum blockchain platform is one of the best ways to control identity and online data without having any interference from any companies or governments, according to cryptocurrency millionaire Jeffrey Berns. He decided to adopt this technology as he knows that security has been a big issue, as people find difficult to hold the private keys, which are necessary to access a bitcoin or Ethereum wallet.
The security to personal data is the trending topic in the blockchain community. Many questions have been coming whether any of the ideas related to security by using the ethereum blockchain can work in the real world or not. Most of the blockchain companies around the world have already failed to drive the actual outcome as though Ethereum and Bitcoin networks have tried hard to handle an amount of traffic.
Jeffrey Berns has plans to build the Ethereum Blockchain-based community known as ‘Smart-city’ in the Nevada desert as he believes that Ethereum has the potential to make his community more than a giant real estate project. In this Smart-city project, houses, schools, production studious and commercial districts will be built over about 100 square miles. It will enable every resident and employee to have an Ethereum accessibility so that they can use this platform to vote on local measures as well as store their personal data.
He has spent the most of his life on class-action lawsuits so far. He has gained the knowledge about Bitcoin in 2012 and won over by another cryptocurrency Ethereum which enabled to store more number of transaction data on a blockchain.
He aims to give away all decision-making power to this ethereum blockchain platform as well as 90 percent of any dividend to a corporate structure, instead of becoming a real estate magnate or rich, The Economic Times reported.
EY To Use Ethereum Blockchain Platform To Secure Transaction
Most multinational professional services across worldwide are using Ethereum Blockchain to secure transaction process. Whereas EY is one of the companies who has announced the launch of EY OPs Chain Public Edition (PE) prototype, which is the world’s first implementation of zero-knowledge proof (ZKP) which works on the Ethereum-based blockchain.
This latest technology will add more features include privacy and security to Ethereum’s public chain. Plus, it will reduce problems regarding the adoption of blockchain technology and will give full access to tracing of all private transaction process, Cision PR Newswire reported.
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