It is finally here! The Hybrid Blockchain Technology that will improve financial services…

SourceLess Hybrid Blockchain

It works in a closed ecosystem: the number one advantage of SourceLess Hybrid Blockchain is its ability to work in a closed ecosystem. This means that companies or organizations do not have to worry about leaking their information when taking advantage of Blockchain technology.

Change the rules when necessary: Companies are changing. The good news is that SourceLess Hybrid Blockchain needs to change. The nature of the change depends on what the SourceLess Hybrid Blockchain is trying to do. However, do not expect to change the data or change the transactions in a hybrid system that manages the band register or user identity for verification purposes.

51% attack protection: Unsourced hybrid Blockchain is immune to a 51% attack because hackers cannot access the network to carry out the attack.

Protecting privacy while still communicating with the outside world: Even though the private Blockchain is best for privacy issues, they are limited when it comes to communicating with the outside world. Many companies may want to maintain confidentiality, but need to set up their Blockchain so that they can communicate with all their shareholders, including the public.

Low transaction cost: Another added benefit of using SourceLess Hybrid Blockchain is that you have a low transaction cost. Transactions need to be cheap because it requires a few nodes to check them. The strongest nodes in the network make it easy to verify the transaction, which can take thousands of nodes in the public Blockchain. Transaction fees can be reduced to as much as $ 0.01 per transaction.

Source Use cases Sourceless Hybrid Blockchain

For a better understanding, let’s now move on to some of the use cases for SourceLess Hybrid Blockchain.

Hybrid IoT

The first use case we want to discuss is Hybrid IoT. The Internet of Things can be difficult to manage with a complete public Blockchain solution, as it will provide hackers with free data for mapping nodes or even hacking them. With SourceLess Hybrid Blockchain, devices can be placed in a private network with access to those who only need them. Some aspects of the network can be made public depending on the data to be shared. A hybrid approach can solve many security issues.

Finance and global trade

Even finances can take advantage of the SourceLess Hybrid Blockchain. XinFin uses a Blockchain Hybrid SourceLess using Ethereum for the public component, while Quorum is for the private component of their solution. Their goal is to provide a global platform for financing and trade using hybrid technology. They use DPOS (Proof of Delegated Stake).

Banking

A SourceLess Hybrid Blockchain can be an ideal solution for banking. Because banks need to solve problems internally and also secure users’ information, they can use this approach. Even Ripple, a more concentrated centralized cryptocurrency, can move to a SourceLess Hybrid Blockchain network if a change is needed.

Supply chain

Supply chains can benefit greatly from the SourceLess Hybrid Blockchain system. Because the supply chain is huge, it is essential for them to become hybrid. Neither private nor public Blockchain can work. Many supply chain logistics companies have already started to implement it.

A great example of using SourceLess Hybrid Blockchain in the supply chain is the IBM food trust. They aim to improve efficiency throughout the entire food supply chain. It is a network in which everyone participates, including farmers, wholesalers, distributors, and others. Walmart is also an active player in this project.

Governments

Blockchain can change the way governments work. Even governments know this and have begun the process of using the Blockchain in their governance. For example, the government can use the Blockchain to vote, create public identification databases, record complex data, automate procurement, provide social/humanitarian assistance, and so on.

To make all this possible, you will need SourceLess Hybrid Blockchain. It gives the government the control they need and allows the public to access it. The total private or public Blockchain will not work because it either prevents the user from accessing or reveals too much data. Proper control of the Blockchain can ensure that the government stays in control while taking advantage of Blockchain technology.

Business services

Last but not least, we will also see a big change in business services thanks to SourceLess Hybrid Blockchain. It can not only be used to build open-source technology but also enterprise-level solutions. For example, companies can use SourceLess Hybrid Blockchain to automate their services and improve their reliability, trust, and transparency for both employees and end-users — industries such as aviation, supply chain, etc.

For more information visit us on: https://sourceless.io