CryptoCoinsInfoClub.com

Blockchain Fortune

Whats Stopping Fortune 500 Companies From Adopting Blockchain?

Whats Stopping Fortune 500 Companies From Adopting Blockchain?

Fortune 500 companies have been slow on the draw to adopt blockchain. While exact figures elude us, it's been reported than only 3% are currently using this technology that's widely reported to be revolutionary and expected to infiltrate all aspects of business. So what's stopping them? Here's a list of a few of the reasons: 1. Immature Tech: The biggest problem large companies are facing with incorporating blockchain technology is the immaturity of the technology. Blockchain tech is developing and improving faster than any technology in history. Big companies generally move fairly slowly, and if they were to put resources into a blockchain solution now, it would likely be obsolete or uncompetitive by the time it was done. So most are waiting. 2. Blockchains are user-UNfriendly: Anyone who has dabbled in cryptocurrencies will describe a nightmare of difficulties. Existing tech companies are highly focused on deliver a great user experience and so far no cryptocurrency has delivered one. It's for this reason that companies such as The Divi Project and Nimiq are building next-generation cryptocurrencies with "Ease of Use" in mind. These newer technologies, designed with ordinary users in mind, will also appeal to big retailers who want to join the blockchain revolution but won't touch Bitcoin with a ten-foot-pole because it's too complicated. 3. Scalability: Most well-known blockchains don't yet scale to the speed and number of users that Fortune 500 companies require. For example, Bitcoin only processes 7 transactions per second, while PayPal does 250+ and Visa can do thousands. There are solutions coming such as "sharding" that will fix this to make blockchains work for millions of users. 4. Lack of Coders: Last year, $4 billion dollars poured into cryptocurrency ICOs Continue reading >>

Blockchain And Identity: Why They Go Together | Fortune

Blockchain And Identity: Why They Go Together | Fortune

Read more: How Blockchain Could Replace Social Security Numbers The most obvious failure of the current state of affairs is Equifax (efx) , said Vinny Lingham, cofounder and CEO of Civic, a startup that offers identity verification via a blockchain. These centralized databases are central points of failure for your identity, Lingham said, noting that in the case of a hackas occurred with Equifax all that information gets compromised. With the current model of identity, youve got honeypots, said Timothy Ruff, cofounder and CEO of Evernym, a startup that has developed its own blockchain, Sovrin, to help people manage their identities. But in the blockchain world, there is no big pile of datait doesnt exist, he said. Rather than sitting on a small set of web servers controlled by a single business, blockchain-based data can be dispersed across a sprawling network of machines. Advocates, like the ones on the panel, say this architecture can grant regular users more ownership over their own data. Michael Sena, who heads product at uPort, an identity service built on the Ethereum blockchain, said that to be truly in control of ones own identityor self sovereigna person must be in control of the cryptographic keys that allow them to interact with an access said blockchains. To be self sovereign, you cant be dependent on a decentralized network, Sena said. There needs to be the ability for users to determine how they handle keys. Get Data Sheet , Fortunes technology newsletter. In other words, just because a blockchain is involved doesnt magically mean people have more control over their data. The crypto keys, which function sort of like long, complex passwords for securing information, are, well, key. If you are the self sovereign over something, you are the final authority, Continue reading >>

Shipping: Ibm, Maersk Are Creating A New Blockchain Company | Fortune

Shipping: Ibm, Maersk Are Creating A New Blockchain Company | Fortune

IBM and Danish shipping giant Maersk are teaming up to form a new company whose aim is to commercialize blockchain technologythe nifty, shared accounting ledgers first made famous by the cryptocurrency Bitcoin. The as-yet unnamed, New York-based venture is set to be owned 51% by Maersk and 49% by IBM (ibm) , the companies said. The concern intends to help shippers, ports, customs offices, banks, and other stakeholders in global supply chains track freight as well as replace related paperwork with tamper-resistant digital records. IBM and Maersk first partnered on a blockchain trial in summer 2016. Michael J. White, the new companys CEO, said this pilot, which traced a container of flowers that sailed from Mombasa, Kenya to Rotterdam in the Netherlands, plus several followups convinced Maersk of the systems potential. Since then, the two companies have partnered with Dupont, Dow Chemical , Swiss food processor Tetra Pak, and various ports and customs offices on tests. Other corporations, such as General Motors (gm) and Procter and Gamble (pg) are exploring ways to use the technology to streamline record-keeping for their supply chains as well. We see an opportunity to increase efficiency and timeliness for cargo movement, White tells Fortune. Previously, White served as the North American president for Maersk Line, Maersks container shipping division. Even small improvements can have a substantial impact on global trade, says Marie Wieck, general manager of IBMs blockchain team. Presently, many shipping supply chains are bogged down by a morass of paperwork shuffled between a glut of middlemen, Wieck says. Documentation, which when lost or delayed causes perishable goods lying in wait to spoil, can end up costing as much as a fifth of the total expense of physical trans Continue reading >>

Fortune 500s Skip Big Consultancies And Ask College Clubs For Crypto Advice Instead

Fortune 500s Skip Big Consultancies And Ask College Clubs For Crypto Advice Instead

sign up today to receive our daily news briefs featuring a handful of the most important stories in business, tech, and life EMAILED ON February 22, 2018 BY THE HUSTLE Fortune 500s skip big consultancies and ask college clubs for crypto advice instead Enterprise companies are finally jumping on the blockchain bandwagon. But, without traditional experts to turn to for help, big business is heading back to school to learn how not to be a (blockchain) fool. Founded in 2014, a student group called Blockchain at Berkeley is beating out giants like IBM, Accenture and McKinsey to consult for companies like Qualcomm, Mercedes Benz, and Airbus. Thats what we love about crypto-geniuses We keep gettin older, they stay the same age A 2017 study found that 28% of large enterprises are considering blockchain technology, yet only 3% are actually using it in part, because no one actually knows how. But who actually understands blockchain? Answer: college kids. In fact, when announcing new blockchain regulations, the SEC turned to Blockchain at Berkeley, which consists mostly of sleep-deprived undergrads working between classes for the experience, to host its conference. Blockchain may be on the 5-year plan, but it will graduate eventually While college blockchain clubs may be the best option for businesses today, blockchain-specific consultancies many of them founded by [emailprotected] alums are beginning to fill the void. In addition to UC Berkeleys pioneering program, schools like Carnegie Mellon, MIT and Duke are also establishing blockchain programs in an effort to send their students to join Berkeley at the helm of a new generation of blockchain consultancies. Get news (like this) delivered by email every morning Continue reading >>

What Is The Technology Behind Bitcoin? - What Directors Need To Know

What Is The Technology Behind Bitcoin? - What Directors Need To Know

What directors need to know about the technology behind Bitcoin. Whether its JP Morgans CEO Jamie Dimon publicly eating his words about blockchain, or Kodak attempting to resurrect its photo dominance with the technology, the promise of what is essentially a more secure, shared online database is getting hard to ignore. Blockchain the technology behind cryptocurrencies such as Bitcoin has been hailed as the next big disruptive business force, already being tested in everything from tracking Chinese pork to making insurance underwriting more efficient. 2017 was the year of enthusiasm, says Christian Catalini, assistant professor of Technological Innovation, Entrepreneurship, and Strategic Management at the MIT Sloan School of Management, about blockchain. 2018 is the year of more mature deployments and the slow adoption in real-world uses. But he warns, Markets are overreacting and people are flocking to anything with blockchain on it. Its important to cut through the hype. It behooves directors everywhere, he adds, to understand the technology and figure out what it means for their organizations. So why all the blockchain-mania? For business operations, much of the interest focuses on its potential to provide heightened levels of efficiency, transparency and security for a host of business transactions without the need for an intermediary. There are endless articles trying to explain what blockchain is, but the consensus describes it as an open, online ledger/database dispersed among a network of computers. At its core, blockchain technology is a network of computers that are connected by complex algorithms. Parties to a transaction on a blockchain see the same information at the same time. When the parties agree to the terms of a transaction, those terms are recorded Continue reading >>

Bitcoin Ethereum: How Blockchain Tech Is Revolutionizing Business | Fortune

Bitcoin Ethereum: How Blockchain Tech Is Revolutionizing Business | Fortune

0xc14d13893bd0f0ff997a8a701c0c8844661a6ddb921a42f2f61c8c7adb0d158c Twenty-seven seconds and one block confirmation later, I am the proud owner of 500 newly minted petsdotcoin tokens. Their creation cost me $1.57 in Ether, the cryptocurrency that fuels the Ethereum network. Despite that expense, my tokens are valued at 0 Ether, or $0.00, as the program reminds me. They are worthless. But if I had tied those bits to some worthwhile business idea, petsdotcoin might have offered investors a radical new way to fund me, track their stake, and participate in a miniature, virtualized, in-app economy. In that respect, my funny-money vanity project is a tiny part of a movement of profound economic significance. In case you havent been keeping track, digital tokens are a new asset class, powered by cryptocurrency networks like Bitcoin and Ethereum. The sector has attracted maniacal investor interest this year, giving these e-coins absurdly inflated valuations that have inspired endless comparisons to the dotcom era . (Hence, petsdotcoin.) At press time, the total market value of all virtual currencies had rocketed past $135 billion, up from just under $20 billion at the beginning of the year. Hundreds of projects have collectively raised more than a billion dollars through initial coin offerings (ICOs). There are now tokens funding every conceivable endeavor: Decentralized cloud storage (FileCoin, Storj). Digital advertising (Basic Attention Token, adToken). A gentlemens club in Las Vegas (Legends Room). Marijuana (Potcoin). Satire (PonzICO). Theres even one for dentists (DentaCoin). In a photo recently posted to Instagram, Floyd Mayweather , the boxer, sits on a private jet surrounded by stacks of dollar bills, touting the sale of tokens for a prediction market called Stoxa mome Continue reading >>

Blockchain Firm Viant Provides Sustainable Fish Options | Fortune

Blockchain Firm Viant Provides Sustainable Fish Options | Fortune

Are You Eating Sustainable Fish? Blockchain May Provide the Answer Eco-conscious diners can rely on restaurants to tell them their fish comes from a sustainable source, but it can be hard to know for sure. Thats why a new certification system, launched by blockchain company Viant and the World Wild Fund for Nature, is intriguing: It provides a step-by-step way to verify a fishs journey from the ocean to the market to the dinner plate. The new initiative, announced in late December, is the latest example of how blockchain technologya type of software that creates a permanent, tamper proof ledgercan transform supply chains and preserve the integrity of the food supply. In the case of sustainable fish, you can see the beginning of the process in the photo above. The picture shows a wild yellowfin tuna caught off the waters of Fiji, which has been tagged with a QR code supplied by Viant. The code means the fish is ready to be be logged into Viants blockchain system, which will record its progress to Los Angeles and allow groups like the WWF and its partner SeaQuest to verify the harvest is from a sustainable fishery. Its immutable, verifiable proof that the yellowfin tuna you got in a restaurant was caught in Fiji, went through X distributor and arrived at the restaurant youre now eating it today, said Tyler Mulvihill, co-founder of Viant. Mulvihill added it is up to the participants to decide what they want to upload to the blockchain and how they want to track the shipment. In the case of the tuna, for instance, the first recording to the blockchain could be a video of the fish being caught, while the distributors could use RFID instead of a QR code to access the ledger. All of this is a reminder that, despite so much silly hype around blockchain right nowthe restaurant Continue reading >>

Blockchain Masterclass Blockchain Mastery For Business

Blockchain Masterclass Blockchain Mastery For Business

Dr. Massimo Morini is one of the most sought after speakers and thought leaders at the intersection of blockchain and business. He is currently the Head Of Interest Rate and Credit Models & Coordinator Of Model Research at BANCA IMI, as well as a senior consultant to the World Bank and other supranational institutions. He is also a member of the Scientific Committee of Numerix Software, one of the leading providers of innovative capital markets technology solutions and real-time intelligence capabilities for trading and risk management. Massimo wrote some of the very first articles proposing the application of the Blockchain to Financial Markets and co-developed smart contracts for collateralized financial products on Ethereum. He was also a board member for R3, the financial services Blockchain mega consortium, where he headed the Valuation, Collateral & Risk Management working group, and is currently a member of the scientific committee for Blockchain Lab, a Swiss based consortium of Bitcoin developers. He has written numerous articles on Blockchain, including in Risk Magazine, Harvard Business Review, Journal of Financial Transformation and others. Continue reading >>

Bitcoin's Blockchain Contains

Bitcoin's Blockchain Contains "hundreds Of Links" To Child Pornography

In recent months, Bitcoins supporters have pointed to its falling use in illegal transactions as a sign of the cryptocurrencys growth toward mainstream acceptance. But German researchers say that links to child pornography within technology underlying Bitcoin could stifle its development. While the blockchain is largely known to be an immutable ledger of Bitcoin transactions corroborated by copies held by participating computers, it also allows its users to leave coded messages. Bitcoins creator, Satoshi Nakamoto, famously left a cryptic message on the blockchains original block: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks. Like that very first message, most of the content left on the blockchain has been relatively benigntributes to the late Nelson Mandela, or messages to loved ones on Valentines Day. But the ones that could be illegal, containing links to child porn, for example, could be an outsized problem for the Bitcoin community. While most of this content is harmless, there is also content to be considered objectionable in many jurisdictions, e.g., the depiction of nudity of a young woman or hundreds of links to child pornography, the paper authored by members of RWTH Aachen University and Goethe University read. As a result, it could become illegal (or even already is today) to possess the blockchain, which is required to participate in Bitcoin. The researchers said they found 1,600 instances in which transactions on the blockchain included non-financial information, representing about 1.4% of transactions. Since the Bitcoin blockchain is immutable, those who download it are also unwittingly downloading links to child porn. The Department of Justice did not respond to requests for comment from Fortune. Its not the first time curious on Continue reading >>

Fortune 500 Company Is Very Interested In Blockchain Technology! Steemcreated With Sketch.

Fortune 500 Company Is Very Interested In Blockchain Technology! Steemcreated With Sketch.

Fortune 500 Company is VERY interested in BlockChain Technology! Last Friday, I was asked to give a presentation at my company about Cryptocurrency and the Potential use of Blockchain Technology. This might not sound very surprising to you, however, the company I work for is NOT in Silicon Valley nor on Wall Street. It's an old manufacturing company that's been around for many generations and considered a bellwether for industry around the globe. Typically, my company is not quick to adopt new technology or take unnecessary risks. That's why I was very surprised to find out that they are already aggressively seeking out how to apply blockchain technology to multiple departments including financial services (accounting etc.), treasury dept., supply chain and logistics among other areas. I can say very confidently that we are about to see a stampede of corporate investment into blockchain technology! During the course of our meeting, it became quite evident that we could create millions of dollars in value almost instantly by implementing blockchain to certain departments. The conversation quickly turned to how can we acquire a blockchain based company to get a head start on it. The cryptocurrency revolution is JUST beginning and now is the perfect time to invest. Coins and companies that help corporations integrate blockchain will soon have money flying their direction! It's an exciting time in history and a great feeling to be a part of this amazing technological revolution. Downvoting a post can decrease pending rewards and make it less visible. Common reasons: Continue reading >>

Commentary: 3 Ways Blockchain Can Empower Women Worldwide

Commentary: 3 Ways Blockchain Can Empower Women Worldwide

Commentary: 3 Ways Blockchain Can Empower Women Worldwide If youve heard of Bitcointhe first decentralized digital currency that functions without a central bank or other third-party intermediaryyou may have also heard of the transformative technology behind the cryptocurrency: blockchain. Put simply, blockchain is an immutable ledgera series of data points strung into time-stamped blocks that cannot be modified and that are distributed across a global network of computers. Blockchain, however, can do far more than power cryptocurrencies. From securing personal records to contracts to payments, it may also drive the next frontier of womens economic empowerment. According to the World Bank, women in developing countries are less likely than men to hold an official ID, often because they lack a birth certificate or other necessary documentation. Blockchains ability to store personal records in a safe and cost-efficient way can provide women with digital IDs, which in turn could allow them to own land and bank accounts or take advantage of job opportunities in the formal economy. Seventy percent of the worlds population lacks access to land titling, with women disproportionately burdened by insecure land rights. According to the Food and Agriculture Organization of the United Nations, for example, women own less than 20% of the worlds land. In the majority of countries, womens land rights are stymied by insufficient enforcement of land laws, discrepancies between constitutions and customary law, and patriarchal power structures that govern many households and communities. Storing contracts in a blockchain would help women protect their property ownership, given the technologys ability to eliminate the falsification of documents. Because of software that is distributed acr Continue reading >>

Here's Why Blockchains Will Change The World

Here's Why Blockchains Will Change The World

Here's Why Blockchains Will Change the World As early as 1981, inventors were attempting to solve the Internets problems of privacy, security, and inclusion with cryptography. No matter how they reengineered the process, there were always leaks because third parties were involved. Paying with credit cards over the Internet was insecure because users had to divulge too much personal data, and the transaction fees were too high for small payments. In 1998, Nick Szabo wrote a short paper entitled The God Protocol. Szabo mused about the creation of a be-all end-all technology protocol, one that designated God the trusted third party in the middle of all transactions. His point was powerful: Doing business on the Internet requires a leap of faith. A decade later in 2008, the global financial industry crashed. Perhaps propitiously, the pseudonymous Satoshi Nakamotowho may or may not be an Australian entrepreneur named Craig Wrightoutlined a new protocol for a peer-to-peer electronic cash system using a cryptocurrency, or digital currency, called Bitcoin. Cryptocurrencies are different from traditional fiat currencies because they are not created or controlled by countries. This protocol established a set of rulesin the form of distributed computationsthat ensured the integrity of the data exchanged among these billions of devices without going through a trusted third party. This seemingly subtle act set off a spark that has excited, terrified, or otherwise captured the imagination of the computing world and has spread like wildfire everywhere. Courtesy of Penguin Publishing Group, a division of Penguin Random House LLC Theyre like, Oh my god, this is it. This is the big breakthrough, said Marc Andreessen, the co-creator of the first commercial Web browser, Netscape, and a bi Continue reading >>

Blockchain Is Pumping New Life Into Ibm, Walmart And Oracle | Fortune

Blockchain Is Pumping New Life Into Ibm, Walmart And Oracle | Fortune

Blockchain is getting bigger at Big Blue. Demand for the technology, best known for supporting bitcoin, is growing so much that it will be one of the largest users of capacity next year at about 60 data centers that International Business Machines Corp. rents out to other companies around the globe. IBM was one of the first big companies to see blockchains promise, contributing code to an open-source effort and encouraging startups to try the technology on its cloud for free. That a 106-year-old company like IBM is going all in on blockchain shows just how far the digital ledger has come since its early days underpinning bitcoin drug deals on the dark web. The market for blockchain-related products and services will reach $7.7 billion in 2022, up from $242 million last year, according to researcher Markets & Markets. Thats creating new opportunities for some of the old warships of the technology world, companies like IBM and Microsoft Corp. that are making the transition to cloud services. And products that had gone out of vogue, such as databases sold by Oracle Corp., are becoming sexy again. All of these things will get a new life because of blockchain, said Jerry Cuomo, vice president of technology for IBM Blockchain. Our sales team loves blockchain because a customer that is buying blockchain rarely walks out of the store with just blockchain. They walk out with multiple things in their cart. Because multiple companies such as all parties involved in a supply chain can use the same blockchain, its spurring IBM to revise the way it compensates sales associates. In the past, sales reps got paid when their clients bought IBM technologies directly. Now they will also receive a commission when clients encourage other companies to join them on a blockchain network and us Continue reading >>

Fortune And Glory From Blockchain's Most Important Moment

Fortune And Glory From Blockchain's Most Important Moment

Fortune and Glory From Blockchain's Most Important Moment Major innovations in artificial intelligence and robotics will change how we do everything. This will give you extremely lucrative profit chances. But the biggest story in tech right now is the amazing power of blockchain. To many blockchain experts, its 1994 all over again and were just waiting for a tipping point. Much like the Netscape moment was for the internet. When this happens the fastest movers will get filthy rich. Initial coin offerings (ICOs) are the crypto worlds version of VC funding. And the amount of money pouring into ICOs has never been higher. According to Business Insider, ICOs raised $5.6 billion through in 2017. This compares to $1 billion of traditional venture investing in blockchain startups in the same time frame and a mere $240 million raised by token sales in 2016, the BI report notes. One of the defining traits of the internet boom was an explosion of startup activity. Now the blockchain industry is seeing a similar volume of money. This is a VERY exciting time to be a tech investor. The problem blockchain currently faces is its confusing. No one understands what it does or why they should care. The internet in 1994 faced the same problem. The average computer user had little knowledge of internet protocol and coding. As a result they stayed offline. Netscape made the internet easy to understand and access. It was the tipping point the tech needed to reach the masses. And thats the type of moment were anticipating with blockchain tech in 2018. When it hits your life never be the same. If you missed out on the dot-com boom, blockchain could be your redemption story. In an interview with Forbes, Alex Mashinsky, CEO of Celsius Network, and featured speaker at the Bitcoin Ethereum & Bloc Continue reading >>

Congress Wants To Use Blockchain Tech To Make The Government More Efficient

Congress Wants To Use Blockchain Tech To Make The Government More Efficient

Congress Wants to Use Blockchain Tech to Make the Government More Efficient Ban Bitcoin? Maybe try adopting its underlying technology, blockchain, instead, says Congress to U.S. government agencies. U.S. government agencies should look to blockchain technology for ways to improve their work, a report from Congress recommends. Government agencies at all levels should consider and examine new uses for this technology that could make the government more efficient in performing its functions, the 2 018 Economic Report from the Joint Economic Committee , first posted earlier this week, stated. It added: Blockchain technology has the potential to help the economy function more efficiently and securely. Though the report did not go into the specifics of how government agencies may improve their functions by using blockchain tech, the papers authors peppered references throughout on how blockchain could reduce paperwork burdens, and prevent errors in data . From applications ranging from management of the electrical grid and utilities to how companies manage global supply chains, the potential for blockchain is truly revolutionary, the authors wrote. Its no new idea that blockchain systems could improve an institution technologically behind-the-curve such as the U.S. government. In a sense, its the perfect problem for blockchain innovators . Governments control a store of sensitive information, not limited to birth records, social security numbers, property transfers, and criminal activity. A leak would be the stuff of nightmares. Blockchain tech, meanwhile, is made to be an immutable, secure, and speedy way to transfer data. Some governments are already giving it a try. The government of Sierra Leone , for instance, ran a blockchain-based election earlier this month, presumab Continue reading >>

More in bitcoin