We can’t talk about the occurring tech revolution without mentioning the importance of data. Whether you are aware of it or not, you both produce and consume endless amounts of data. For example, when you are browsing on Instagram, Instagram is gathering personal data (location, age, gender, etc.) but also behavioral data (political preferences, shopping behavior, interests, etc.) which is used for ad targeting and gets sold to third parties.
Data is at the center of most businesses, even if they don’t have anything to do with tech. The more data enters a business or company, the more susceptible said businesses or enterprises are to a data breach, leak, or other digital disruption. The average cost of data breaches has reached a record high of $4.35 million in 2022, according to a data breach report by IBM.
This report is indicative of something that many tech enterprises are well aware of — traditional database management systems are becoming redundant and outdated. Another big problem regarding data is the fact that those who produce valuable data have no ownership over their data. Data privacy practically doesn’t exist in Web 2.0.
Web3 is set on changing this by combining blockchain technology with database management, which means a structural change in how data is approached and handled. This is exactly what Inery is all about.
What Is Inery
Inery is a decentralized database management system based on a proprietary layer-1 blockchain. For those who don’t know, a layer one blockchain network acts as infrastructure for other protocols, networks, etc. to build on top of.
In other words, Inery offers a simple solution for blockchain-based ideas and projects to become truly decentralized and brings a new, better database management model with guaranteed higher speed and top-notch security. Developing dApps or implementing this solution in many different sectors becomes a piece of cake when using this technology.
The team of tech professionals who conceived Inery witnessed many issues with centralized database management and figured that it was time for something new, effective, and functional. Let’s use Instagram as an example, again. You can still use the app the same, as your user experience won’t be any different.
However, with the help of Inery, you are now the person in control of your data and your “data narrative”. You are the only one to see the data – not huge tech enterprises and miscellaneous third parties.
High data security is assured by the fact that data can’t be modified or deleted as blockchains are known as immutable. Users of Inery database management are the only ones to have access to their access keys. User data is managed via multiple servers across the network — also known as MEM nodes. Inery’s consensus mechanism is Proof-Of-Stake, making it Sybil attack-resistant.
Apart from boosting speed, bettering security, and optimizing performance, this also means that Inery prevents any kind of data manipulation that might occur, successfully. Another upside of using Inery is the fact that it promotes cross-chain compatibility, enabling different metaverses and blockchains to transfer data or assets without jeopardizing security or efficiency.
Why Decentralized Data Management Matters In Telecommunication
Simon Murray, the CBE and chairman of Inery, known for his prestigious positions in various well-known companies worldwide, including the founder of Orange mobile company and Distacom telecom, brought his knowledge and vast experience to Inery. As previously mentioned, the people behind the conception of Inery were very aware of issues with data routing and data privacy.
Telecommunications are based on sending and receiving signals (data) as well as establishing channels of communication for the exchange of data between a multitude of different endpoints.
Historically, telecommunication service providers have traditionally owned the end-to-end value chain for both consumers and businesses. However, the centralized databases that traditional telecom providers still depend on are becoming a bottleneck for large, physically distributed organizations that access data remotely.
Even though this system has worked in the past — it’s quite costly, and there is a lot of latency as well as increasing security risks. Technology has rapidly evolved in the past few decades, and it’s high time that database management systems evolve, too. In other words, it’s becoming more and more obvious that we should forget about centralized database management and centralized data and move to something new and better.
Inery offers an innovative and future-proof solution that can help CSPs overcome the issues of traditional databases. The value of blockchain for telecom lies in the security, transparency, data immutability, and control it provides across the ecosystem at every point of a transaction.
Inery’s Role in Telecommunications
Inery’s cutting-edge Database as a Service (DBaaS) solution handles micro and metadata and empowers effective database management by enabling DPoS and asynchronous Byzantine Fault Tolerance (BFT).
Inery offers decentralized solutions for managing users’ data and documents. The ability to record such events in an immutable manner will not only help reduce forgery but also curb the submission of fraudulent documents.
With telecom companies adapting products and services for the world of Digital and 5G, blockchain solutions will be key to offering Identity as a Service (IDaaS) and act as the channel between the end consumers and digital services at large. The exponentially growing number of data leaks and malicious attacks show that it’s high time for the telecom industry to embrace the decentralized, blockchain-based approach.
With blockchain-based technology, there is no single point of failure and no central authority that can tamper with the data. Data recorded on a blockchain cannot be changed or deleted, making it ideal for storing verifiable and trustworthy data.
Finally, when it comes to scalability, Inery’s layer-1 blockchain solution is designed through and through to be optimized for database management and allow enterprises to scale up or scale down without hindrance. There are many use cases for Inery’s technology within the CSP ecosystem.
Let’s say that your phone gets stolen. Your mobile phone or network operator is the only entity that can manually block your phone. In most cases, they won’t be able to track where your stolen device is, as their capabilities to do so are limited. Inery can allow telecom service providers to store unique device/SIM data on the blockchain, along with the user’s profile. This means that you wouldn’t have to wait for hours, or more commonly, days, for your stolen device to get successfully blocked.
Through our blockchain solution, the user’s home country operator could enter a complaint which would be put on the blockchain, allowing other telecom operators in other countries to detect the stolen device.
Inery is looking to tackle the challenges of data scalability and sovereignty that will streamline processes while ensuring the security and permanence of transactions.
Inery was envisioned to provide high scalability in a more eco-friendly and cost-efficient way. The key idea behind Inery is to make managing data simpler and more accessible for everyone while ensuring data integrity, high-level security, and the permanence of transactions.
Whether you want to keep your data inaccessible to Big Data companies or want to enhance and better data security and database management through decentralization, Inery is the solution for you.
Take a quantum data leap with Inery, and experience the pure power of blockchain technology, and community in a sustainable and cost-effective way.
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