Massive Failure in International Technological Infrastructure
On July 19, a massive failure occurred in the international technological infrastructure based on Microsoft products. This failure affected many areas, causing serious problems in traditional financial systems and paralyzing the operations of airlines, airports, banks, and utilities. Telecommunications and communication services were also affected.
Impact on Global Operations
Many users encountered difficulties accessing various services and systems, leading to significant disruptions in the operations of institutions worldwide. Some airports canceled flights, banks halted operations, and utilities faced challenges in providing services. However, decentralized financial platforms and crypto exchanges continued to operate without significant interruptions.
Resilience of Blockchain Technologies
Leaders of crypto companies noted that blockchain technologies are less vulnerable to such failures due to their decentralized nature. Unlike traditional systems that rely on centralized technologies, blockchain systems have multiple independent nodes, making them more resilient to failures.
Decline in Venture Investor Interest in African Blockchain Market
Against the backdrop of this incident, analysts from the Swiss blockchain company CV VC published a report on the state of the African blockchain market. The report highlights a sharp decline in venture investor interest in blockchain projects in the region, amounting to 74% on an annual basis. This decline may reflect broader industry trends, despite the resilience of decentralized technologies to failures in traditional systems.
