Electronic securities back up with the use of the blockchain technology.

by Wirba Brice Divine Ransinyuy

Electronic securities  have become a talking point in recent times, that is for the past and recent years. With everything gradually turning electronic and during, there is some sort of security and backup that is being needed to protect users. Everything has become digital, be it the mode of payment, jobs, health and others. In the face of such innovation and constant change in the domain of the digital world, there is the need of a spontaneous and adequate response in order to preserve online information and transactions in tact.

Most often, enterprises or companies dealing in the digital often advocate its users and clients to use the Google authenticaor or the key authenticator to protect and safegaurd their accounts from any potential or possible attack from hackers or unknown tech personalities. This is particularly the case with localbitcoins. Localbitcoins is a cryptocurrency enterprise based in Finland dealing in the buying and selling of bitcoins no matter where you are found in the globe. Everyone and anybody has access to this trading platform. Being a financial cryptocurrency platform, the enterprise demands of its users and traders alongside with the customers or clients to use an in build blockchain system so as to protect their accounts from any potential attacks. When the user has not set up its account security for protection, it is being demonstrated as weak security. But when the security level has been increased and improved, it now shows a strong security level. This shows that enterprises and companies dealing in the electronic world be it in the form of payments, do their best in order to the accounts of their users and their traders in particular and a whole.

Furthermore, a study showing the pertinence and growth of the electronic securities is the case of the German government. Germany is obviously of the highest technological country in the world. The German government having noticed the relevance and importance of the blockchain technology decided to legalize electronic securities to be recorded using the blockchain technology. This was done under the German government cabinet passing a new law regarding electronic securities and the blockchain technology. This law brought a newness it came all the way to remove all the paper-based certificate that has been previously used and comes as an actualisation of the strategy Germany brought in concerning the blockchain as they decided to use the blockchain technology as an integral technology in their society. The paper-based certificate is visible in that securities holders and issuers had to bring out documents concerning their previous transactions and not just their previous transactions, but all their transactions in a paper-based certificate. Due to the documentation of all transactions, it added administrative burdens and an obstacle or a difficulty security holders. This was seen as tiresome and had to take for both parties, reason being why, the government cabinet had tp enact and pass a law that all electronic securities shall be recorded on the blockchain so as to ease both administrative issuers of securities and security holders. This other aspect brings out the relevance of electronic securities and the blockchain technology.