How MDL secures reputation
In order to facilitate the credibility of reputation MDL Talent Hub will employ two modern technologies – blockchain and PIDS. Let us explain in a simple manner how it will work.
Persistent Immutable Data Storage (PIDS) is a new way to keep information. The technology allows storage of data on devices of users instead of using centralized servers which are vulnerable to attack. Nowadays there are two promising protocols being developed and already available for usage – IPFS and CXO; both promise to substantially reduce costs and increase the speed of transmission. Once the file is uploaded, it receives a hash-sum – a certain coded address of the file which anyone can use to access it.
Blockchain is a technology that can be understood as a continuously growing list of records, which is impossible to change since it is stored in a decentralized manner and encrypted. High levels of encryption allow storing only bits of information such as hash-sums or URL addresses. What is good about it is that anyone can be sure that the list is unchangeable and immutable, that’s why it’s unhackable.
The combination of these two techs do an excellent job. Pictures and photos of talents will be stored using PIDS and their hash-sums encoded into blockchain with a timestamp, so that anyone can be sure that the files are truly related to a certain person and certain event!
These technologies are crucially important for our project, but this is just a taste of the impressive technology which will be supporting our main principles of transparency, security, and efficiency.