Modex BCDB enables companies to integrate a blockchain layer to their application which enhances data transparency.
New transparency, simplicity and efficiency
In the context of blockchain technology transparency does not mean that users can see data in clear text, but the hash of the information. As such, network participants can only observe that the data exists and if it has been altered in any way. One of the most beneficial aspects rendered by transparency is the fact that it enables data traceability, which means that a complete record of the modifications made on a particular set of data creates a new version that is stored on the blockchain. On a closer analysis, this blockchain-powered environment completely changes our perception of audit operations by adding new transparency, simplicity, and efficiency, to the equation.