Rene Fischer Bernard Blockchain Innovator and LuxTag Founder

1. RENE FISCHER BERNARD Rene Fischer-Bernard, the CEO and founder of LuxTag and the founding ACCESS Blockchain Association (Malaysia). He has been working as an international tech entrepreneur since 2002. He used to study engineering in Germany and at the same time he was running an e-commerce business. He became a credible cybersecurity and IT system architecture designer and administrator. Merging his business and tech backgrounds, he started LuxTag.io with two other co-founders. This Malaysia-based startup is a high-value idea availing the benefits of Blockchain technology. This holistic system tackles counterfeiting and theft while building insights for brands.

2. BLOCKCHAIN THE GAME- CHANGER IN DIGITAL DATA STORAGE In the ever-evolving digital landscape, one technology stands out for its transformative potential blockchain. Like any other file, it lives on digital storage mediums like computer hard drives and consists of a series of binary “bits” — ones and zeros — that computers process to make readable for humans. However, what sets blockchains apart are three unique properties that, when combined, make them function very differently from regular computer files.

3. DISTRIBUTED NATURE The first defining characteristic of blockchain technology is its distributed nature. Traditional files are often stored on a single computer or server, making them vulnerable to manipulation or deletion by whoever controls that computer. For instance, the document you are reading now could be stored on one computer and accessed over the internet by many people. However, the owner of that computer has the power to alter or delete the document at will.

4. ENHANCED SECURITY THROUGH CRYPTOGRAPHY The second key property of blockchain technology is its reliance on cryptography for security. Cryptography, derived from the ancient Greek words for “secret writing,” ensures that the data within a blockchain is encoded. This means that to read or alter the data, one must possess the appropriate cryptographic keys. Each block in a blockchain contains a set of transactions, and each transaction is secured by cryptographic algorithms. To change the data in a block, or sometimes even to view it, you need the private keys associated with that block.

5. OPENNESS AND TRANSPARENCY The third fundamental property of blockchains is their openness and transparency. Blockchains can be designed to be fully public, like the Bitcoin blockchain, or accessible only to those with permission, as seen in some business applications. This transparency is a key feature because it allows anyone on the network to monitor changes, even if they don’t have permission to edit the data or access all of it in its unencrypted form.

6. SOLVING THE DOUBLE SPEND PROBLEM One of the most significant achievements of blockchain technology is solving the “double spend” problem inherent to digital data. In the digital realm, data can be copied and shared an endless number of times. This posed a major challenge for digital currencies and assets because it made it impossible to use them as a store of value, similar to physical assets like gold or cash.

7. THANK YOU The CEO and founder of LuxTag, Rene Fischer-Bernard is a Blockchain and Cryptocurrency enthusiast. His focus is majorly on Blockchain’s adoption and integration. www.luxtag.io/