CUDOS Fintech

Use of CUDOS in the field of financial entities

Financial entities require extreme security when transferring sensitive data, in addition to requiring interoperability for their information. CUDOS distributed cloud computing provides features for this to happen, as well as providing blockchain support.

Data flow in financial entities

Financial entities are institutions that handle a large flow of data, either from the initial information provided by customers, as procedures related to the economic field. Given these circumstances, this type of operation requires high-level security support, since if certain precautions are not taken, the information could very easily fall into the wrong hands.

For these reasons, in this type of field, maximum security technologies are used, since any failure in this regard represents loss of sensitive data, and in many cases, even money. To provide an extra layer of guarantees, cutting-edge technologies have always been used, since in most cases, they are the latest advances made by qualified professionals.

Blockchain technology provides an unmatched security framework, thanks to the fact that this type of network is practically incorruptible, which is why its use in the field of financial institutions is very appropriate. In this way, the system is being provided with extraordinary support, in order to guarantee the correct protection of the information.

Blockchain characteristics versus data manipulation

One of the benefits that this type of technology offers is that of security in terms of the “non-manipulation” of the data entered in a blockchain, that is, the data that was entered cannot be modified, due to the fact that everything is located in a kind of large distributed database, which is why, through the general consensus of the network, it would be detected if any data has been corrupted.

The fact that the data cannot be modified gives us the necessary guarantees, which could be used by banking entities in order to give even greater peace of mind to all their clients, who will have the guarantees that their information has not been altered, nor has it been used for different purposes for which they were granted.

Let us bear in mind that entities of this type handle a large volume of information, given the constant entry of new people to the database, as well as the exact record of all the operations that have been carried out, that is why, that this type of technology has broad advantages, either for the financial field itself, as well as for the administrative sector of the same.

Solutions offered by CUDOS

CUDOS offers extensive solutions in this regard for this type of application in the field of financial institutions, since to begin with, we are talking about a blockchain network that offers a distributed computing model in the cloud, which is very innovative from the technical aspect of computing power, down to reduced operating costs when making transactions.

On the other hand, the security it provides is within the highest quality standards. In this regard, this network has recently opened its public TestNet, so that developers can deploy their projects, and in this way detect vulnerabilities that contribute to solving initial problems, with a view to launching these products on the network. MainNet.

In the financial sphere, distributed computing in the cloud could be used to solve the growing amount of data that needs to be stored in this era of digitization, and which is growing rapidly. With regard to data processing, it is very coherent to think of solutions based on blockchain, since they are the systems that currently offer the greatest guarantees.

Final conclusion

The field of financial entities is a sector in which it is constantly necessary to resort to new tools and available technologies, which offer greater security parameters, because at present computer data has become the new gold, being very risky if they fall into the wrong hands. CUDOS distributed cloud computing offers solutions regarding security issues and technical capabilities for correct data processing.

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