as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain three ways blockchain technology can improve data security.
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blockchain technology can improve data security in the following ways:
1. by using cryptographic methods like hashing to ensure the data remains confidential and secure.
2. by creating an immutable and distributed ledger that can be used to store data securely without the need for a centralized server.
3. by creating smart contracts which can be used to automatically execute digital transactions securely, without the need for a third party.
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