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The philosophy behind the blockchain dreams of world that is free from the centralization of existing vested interests such as governments, banks, institutions, corporations (various forms of political, economical, social and cultural powers and for-profit or non-profit powers of concerned groups) from where asset trading and credibility is maintained by means of a public ledger for individuals to create proactive opportunites for themselves amongst a wide range of parties concerned.
The direction the era is taking greatly demands transcending the distrust that arises when a centralized power group, that takes many forms, supplants the public sphere, and replacing this with a massive network consisting of individuals directly taking part.
Blockchain is significant in that it protects the various forms of individual property (money, real estate, intellectual property, and all other types of property) through decentralization, with the same information promised to the public by organizations or corporations that are susceptible to hacking, loss and falsification, enabling individuals to enjoy a higher quality of life and obtain better value.
However, with such blockchain technology and use, other types of centralization continue to come into being and there are doubts and limitations as to how they stand up to the threat of hacking. And this situation is spawning a slew of diverse companies and services.
The most prominent case is centralizing, saving and maintaining information on various internet service users based on the blockchain.
Already, there were many cases where databases (DB) with personal information stored, or other centralized databases were hacked. And event today little can be done to ease the anxiety surrounding such cases.
The blockchain technology itself nearly completely guarantees permanence and security against forgery or falsification, but the various services that are linked to this are already showing many limitations.
Despite these limitations, in virtual currency exchanges that use blockchain technology and in the various free and charged services attempts to collect and hack important and sensitive personal information is still a source of anxiety for participants, users, and service providers.