WHAT ROLE DOES BLOCKCHAIN PLAY IN CLOUD COMPUTING?

Posted at 11 December 2022 | Blockchain

At this point, all of our operations, processes, and procedures have been fully migrated to the cloud. Everything from watching Netflix videos to sending emails is now cloud-based.

At this point, all of our operations, processes, and procedures have been fully migrated to the cloud. Everything from watching Netflix videos to sending emails is now cloud-based. Salesforce, Amazon Web Services, Google Cloud, Microsoft Azure, and many others are among the most popular cloud service providers. Microsoft's Windows 365, which enables the creation of a cloud-based virtual machine, is just one example of the ground-breaking efforts being made today to ensure the future success of cloud computing.The global cloud computing industry is expected to reach USD 832.1 billion by 2025, growing at a compound annual growth rate (CAGR) of 17.5% from 2020 to 2025. Blockchain is another cutting-edge technology that is gaining popularity among businesses. How well do you understand the synergies between these two technologies? Is the incorporation of blockchain technology into cloud computing creating new opportunities for innovation or reshaping existing ones?.The main benefit of incorporating blockchain into cloud computing is increased data security. With cloud computing and blockchain technology, you get the best of both worlds.

CHALLENGE

There is no doubt that cloud computing provides numerous benefits. Despite this, there are some obstacles to overcome. Data security is critical due to the wide range of sensitive information stored in the cloud. The addition of blockchain security to the other improvements in cloud data security is a welcome addition. Data is stored in a central location and made accessible via a network of computers and servers in cloud computing. In these centralised architectures, privacy, authorization, and security are typically sacrificed. There is scepticism about cloud computing because data stored there can be accessed by anyone, including malicious software and hackers. This can lead to the disclosure of highly sensitive information.

Blockchain Implementation in Cloud Computing

There are numerous advantages to using blockchain applications alone or in conjunction with other techniques.

• When the two biggest concerns with cloud computing, security and privacy, are addressed with blockchain technology, cloud computing becomes much more appealing. According to Statista, in 2021, 64% of respondents cited data loss/leakage as their primary cloud security concern. The encryption of data is what gives blockchain its security and protects its databases.


• Furthermore, 44% of those polled by Statista viewed visibility/transparency as a serious threat to cloud security. We can create a distributed and decentralised trust architecture that promotes openness by utilising blockchain technology. Blockchain technology eliminates data barriers and makes all transactions completely transparent. Once information is added to the blockchain, it cannot be changed.


• No matter how many times a computer in a blockchain network deletes or mishandles data, the data on any other device in the network is never affected, ensuring data integrity and preventing forgery.


• A blockchain's information cannot be removed or altered in any way. This method allows you to easily track where, when, and by whom it is being used. This audit trail, as a record of previous actions, can be used to verify the legitimacy of a system or the authenticity of a user.


• Because cloud computing relies on third-party services, businesses risk losing significant amounts of data if a service provider fails.

Blockchain technology is bringing about revolutionary changes in industries as diverse as healthcare, agriculture, banking, and finance. We've compiled a comprehensive overview of the blockchain landscape in the form of a report to help you get started on the path toward building an accurate blockchain solution. It covers a wide range of topics, from the inner workings of the technology to its effects on various sectors to the regulations governing it around the world to the state of the market.

What is the future of Blockchain in the field of Cloud Computing?

The cloud has become so important to modern business that companies can no longer afford to ignore the inherent risks it poses. It's important to remember that the cloud's security, compliance, and centralised structure can all pose serious risks to any business. Furthermore, in response to the covid-19 pandemic, businesses rushed to adopt cloud computing providers and cloud solutions without first ensuring that they met all relevant legal and compliance standards.Blockchain technology is enhancing the security, speed, and dependability of data storage, financial transactions, and corporate processes. Combining blockchain and cloud is the best way to improve authorisation, privacy, and efficiency. Although blockchain technology has numerous potential benefits, it still has several issues that must be addressed in the future, such as the requirement for data storage on each node and increased blockchain security. Understanding how to best exploit these two areas of study can help companies protect their most valuable asset.