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Blockchain Uses

Blockchain For 2018 And Beyond: A (growing) List Of Blockchain Usecases

Blockchain For 2018 And Beyond: A (growing) List Of Blockchain Usecases

Blockchain for 2018 and Beyond: A (growing) list of blockchain usecases This story originally appeared here , by Flip Filipowski, Co-CEO of Fluree. Does your company have a New Years innovation resolution? 2018 brings an incredible opportunity to take part in the next technological revolution where Blockchain Technology and SaaS will integrate more seamlessly to produce higher efficiencies for a myriad of business processes. The benefits of blockchain and FlureeDB s mission to bring them to common enterprise applications deliver an unprecedented number of use cases spanning numerous industries. By sheer design, the below list is always incomplete, as new innovators across the industry spectrum are finding novel ways to leverage blockchain technology. The blockchain process of transacting and storing information on a decentralized, distributed ledger yields many benefits for enterprise application data: An integrated network, updated in real-time with always-consistent data Ability to set rules for each blockchain enforces compliance Tracing data from provenance to present to reduce disputes or discourage fraudulent activity Increased efficiency of industry processes, reduced auditing costs Consent, protection, and control of consumer/customer data High level of trust in repository of transactional data While blockchain use cases are exciting to explore and research, its important to point out the gap between potential and tangibility of implementation. FlureeDB hopes to bridge this utility gap, bringing a practical solution to any enterprise application wishing to manifest blockchains benefits. Information-sharing across organizations trust, transparency, and efficiency Supply Chain Management With FlureeDB, a consortium of stakeholders in a supply chain can own, opera Continue reading >>

What Is Blockchain Technology? A Step-by-step Guide For Beginners

What Is Blockchain Technology? A Step-by-step Guide For Beginners

What is Blockchain Technology? A Step-by-Step Guide For Beginners Angel Investors, Startups & Blockchain developers... Is blockchain technology the new internet? The blockchain is an undeniably ingenious invention the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto . But since then, it has evolved into something greater, and themain question every single person is asking is: What is Blockchain? By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency , Bitcoin , the tech community is now finding other potential uses for the technology. Bitcoin has been called digital gold, and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value. Like the internet (or your car), you dont need to know how the blockchain works to use it. However, having a basic knowledge of this new technology shows why its considered revolutionary. So, we hope you enjoy this, what is Blockchain guide. The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain. Information held on a blockchain exists as a shared and continually reconciled database. This is a way of using the network that has obvious benefits. The blockchain database isnt stored in any single location, meaning the records it keeps are truly public and easily verif Continue reading >>

Does Blockchain Offer Hype Or Hope?

Does Blockchain Offer Hype Or Hope?

For many tech insiders, the most exciting thing about bitcoin is the thing that allows it to function: blockchain. What is it and what other uses might it have? Last modified on Wed 21 Mar 2018 19.48EDT The question many are asking now is whether there is much to blockchain apart from hype and speculation.Illustration: Bryan Mayes These days, bitcoin is front-page news, as its prices vertiginous ups and downs elicit glee and despondency by turns among investors. It was not always this way: the now-definitely-in-a-bubble cryptocurrency is making a comeback following years in which its association with crime and darknet drug markets kept it away from the spotlight. During that period, technologists and corporate evangelists had stopped touting the qualities of bitcoin, turning instead to a technology that underpinned the cryptocurrency without being tainted by dodgy connections: blockchain. The blockchain was born as the digital scaffolding for cryptocurrency transactions. When devising bitcoin, pseudonymous inventor Satoshi Nakamotos aim was to create a stateless virtual currency, not controlled by any bank or government. But without any third-party acting as a guarantor, how could you ensure users did not cheat and spend their immaterial coins more than once? The solution was to entrust oversight to the whole network: all transactions are etched on a public log the blockchain maintained by a peer-to-peer swarm of computers (or nodes), each holding an identical copy of the ledger. When users spend their coins, nodes take note and update the ledger. The decentralised structure ensures that there is no single point of failure, making it nearly impossible to hack the network, forge transactions, or freeze them for legal purposes. Nakamoto added a further wrinkle to the sys Continue reading >>

How Could Blockchain Be Used In The Enterprise?

How Could Blockchain Be Used In The Enterprise?

How could blockchain be used in the enterprise? The technology that underpins bitcoin could be used to support online voting, cloud computing, land registries and more Bitcoin has made plenty of headlines since the cryptocurrency first emerged in 2009, but more recently attention has turned to its underlying technology: the blockchain . Blockchains are a way of storing information (transactions, in Bitcoin's case) in a distributed way: sharing it between many parties, thus doing away with the need for a trusted central server.See also: what is Blockchain? The blockchain can only be updated with the consent of the majority of participants and, once entered, information can never be erased, meaning it can provide a definite, verifiable record of 'digital events'. The decentralised, distributed nature of blockchains brings a number of benefits: stronger security as the ledger is shared by thousands of computers, transparency as all transactions are publicly recorded, and decreased risk. No single authority has control, so if there is a glitch and one of the nodes in the network goes down, the system can still function. As a result a number ofbankshave started exploring blockchain's potential to make payments faster, cheaper and more transparent. Some of the major vendors are lending their weight behind making blockchain a concretely viable business prospect. IBM and Microsoft are two companies thatare dedicating serious resources towards the blockchain, with IBM spearheading the Hyperledger umbrella project of open source blockchains. Read next: From supply chain to equity: real-world uses of the blockchain today The potential use for the blockchain is vast. It could be applied to almost any form of record-keeping, agreement, contract or register. The UK government has st Continue reading >>

The 8 Best Uses For Blockchain In2017

The 8 Best Uses For Blockchain In2017

The future of search is here! Worlds First Decentralized Search Engine Ecosytem. Blockchain based. The blockchain is going to change your life in pervasive ways. Many aspects of your everyday life will run partly on the blockchain, and you wont even fully realize it. From healthcare to equity trading to insurance, many industries are ripe for disruption using distributed ledger technology. Here are the 8 best uses for blockchain in 2017 that have the most powerful to disrupt established industry verticals: Every time you type keywords into search engine, you hand your data over to Google, which uses your data to profile you and target you with ads. This violation of your privacy is both irksome and creepynobody likes it. The blockchain is changing this, and decentralized search will soon be a reality. One of the most exciting private search engines is BitClave , an ecosystem built on Ethereum that really respects user privacy and gives consumers full control over their data. With a digital identity built upon the blockchain, youll never have to worry about your security again, eliminating one of the most costly problems. Best estimates indicate that digital security problems the sort of problems that a blockchain-based digital identity could eliminate cost industry around $18B per year. A distributed ledger offers solutions to many of the most severe digital identity issues, allowing users to be authenticated in an irrefutable and encrypted manner. Surprisingly, it is estimated that errors occur in around 10% of equity trades. This results in manual human intervention, which drives up the transaction costs of equity trading and increases the amount of time required to clear an equity transaction. These problems multiply (both legally and logistically) when market maker Continue reading >>

8 Experts On The Future Of Blockchain Technology & Applications

8 Experts On The Future Of Blockchain Technology & Applications

8 Experts on the Future of Blockchain Technology & Applications Blockchain the - immutable, encrypted, decentralized - ledger has a potential of making every centralized process, activity, and organization fully autonomous. This means we can eliminate intermediaries, authorities, and churn. Thus, streamlining every business, governance and non-profit activity. While all this sounds amazing it is yet a far-off dream and we still struggling to make real-world moves. Amidst all the developments revolving around blockchain, there is a lot of confusion about the future of this tech. To bring some clarity we interviewed 8 industry experts and here is what they say about the possible blockchain technology future: Interested in latest technologies? Checkout our resources section and grab your pick today: Possible Blockchain Applications in the Future: Blockchain as a technology has the potential to fundamentally affect a wide variety of processes and technologies. At its core, the Blockchain is a system for eliminating the need for trust in transactions. While that may sound like a simple proposition, many of the largest institutions in the world exist today to operate as trusted third parties, for example, SWIFT and the Depository Trust Clearing Company. Corporate opportunities abound for companies that can create applied blockchain technologies targeting specific transactions, for example, the mortgage industry. The current landscape of mortgages requires an intricate web of title searches, title insurance, and countless minor transaction fees that are necessary to keep the system running. These systems exist because, historically, the transfer of land has been a process that requires a tremendous amount of trust in dated records. However, the Blockchain would address all of Continue reading >>

What Are Non-bitcoin Applications Of Blockchain Technology?

What Are Non-bitcoin Applications Of Blockchain Technology?

What are non-Bitcoin applications of blockchain technology? Currently, I see six broad categories of uses for the Bitcoin blockchain: 1) Currency - Bitcoin began as a P2P electronic cash system. Anyone can hold bitcoin and pay anyone without a middle man. Examples: Bitcoin , L itecoin. 2) Payment Infrastructure - You can use Bitcoin to send money around the world. Merchants can accept bitcoin payments. This is slightly different than using bitcoin as a currency. Uses cases include merchant processing and remittances. Examples: BitPay , Abra . 3) Digital Assets - The blockchain can be used to create digital assets such as stocks, bonds, land titles, and frequent flyer miles. These assets are created using protocols on top of the Bitcoin blockchain. Example protocols include Coloredcoins and Counterparty . Companies using this technology: Chain , NASDAQ , Openchain . 4) Identity - Companies offer blockchain IDs that can be used to sign in to apps and web sites, digitally sign documents, etc. Here's mine: Wayne Vaughan's blockchain ID . Companies: Onename , Keybase 5) Verifiable Data - Create a verifiable record of any data, file, or business process on the blockchain. Examples: Tierion , Proof of Existence , Factom 6) Smart Contracts - Software programs that live on the blockchain and execute without the possibility of third-party interference. I call this "PHP in the sky". Examples: Ethereum , RootStock . My company, Tierion , is a pioneer of the verifiable data category. Here are some practical use cases that have been built using our platform. Create a verifiable audit trail of insurance claims . Create an audit trail for healthcare processes and patient data. Track the purchasing approvals of goods and services in Salesforce.com Archive every Slack communication, cre Continue reading >>

Popular Use Cases Of Blockchain Technology You Need Toknow

Popular Use Cases Of Blockchain Technology You Need Toknow

Popular Use Cases of Blockchain Technology You Need toKnow I am the Blockchain! I am invincible because I replicate myself on multiple computers. Yea like the Ultron. You cannot corrupt me. Though Bitcoin and Ethereum were my first applications. My true power is yet to be unleashed. Let me start with identity cards, badges, and things. Fancy designs can be replicated. You know about 3D printers right? How do you verify them? Some organisations provide online verification service. You can scan the card or punch in the number and verify if its authentic. But, this can be costly, you need to pay for the cloud. With Blockchain you dont have to build your own identity infrastructure, you can use Ethereums open Blockchain to store the identity details. Anyone who wants to verify just has to query the open Blockchain. Most of your ownership records are stored in paper ledgers. These can be tampered. The data on Blockchain cannot be altered. On a Blockchain there are two things. A block and a chain. At a very high level, it is just a chain of blocks. Since its inside computers, we can rule out the physical stuff. Here digital information is divided into blocks and linked together. For example consider the following blocks, each represent a country. Each of them contains the city names of the respective country. Wait, there is something more. Each of these blocks has something called a hash. A hash is a set of characters (eg. 1hi515AHA5H ). Hash is derived from the information contained in the block. The block of U.S.A has cities New York, Los Angeles, and Chicago. So the hash would be something like NYLAC (Technically thats not the case, but you get the idea). Every successive block will contain the previous blocks hash. This is what binds them together (The force). If someone Continue reading >>

Banking Is Only The Beginning: 30 Big Industries Blockchain Could Transform

Banking Is Only The Beginning: 30 Big Industries Blockchain Could Transform

Banking Is Only The Beginning: 30 Big Industries Blockchain Could Transform Banking and payments aren't the only industries that could be affected by blockchain tech. Law enforcement, ride hailing, and manyother sectors could also have blockchain in their future. Bitcoin and other virtual currencies are made possible by whats known asblockchain technology. Blockchain isessentially a global public ledger capable of automatically recording and verifying a high volume of digital transactions, regardless of location. Bitcoins popularity is proving blockchains usefulness in finance, but entrepreneurs have come to believe blockchain could transformmany more industries. Ultimately, the use cases for a transparent, verifiable register of transaction data are practically endless especially since blockchain operates through a decentralized platform requiringno central supervision, while still remaining resistant to fraud. As startups use blockchain to drive greater transparency and veracity across the digital information ecosystem, theyre boosting awareness of the technology in sectors ranging from payments to public policy.Here are the latest innovative wayscompanies are harnessing the power of global blockchain. Become an expert on blockchain in this live briefing. Well provide the definitions and analogies you need to know for bitcoin, blockchain, cryptocurrencies, and more. From a macro perspective, banks serve as the globalstorehouses and transfer hubs of value. As a digitized, secure, and tamper-proof ledger, blockchain could serve thesame function, injecting enhanced accuracy and information-sharing into the financial services ecosystem. Swiss bank UBS and UK-based Barclays are both experimenting with blockchain as a way to expedite back office functions and settlement, w Continue reading >>

17 Blockchain Applications That Are Transforming Society

17 Blockchain Applications That Are Transforming Society

17 Blockchain Applications That Are Transforming Society Angel Investors, Startups & Blockchain developers... The early internet dealt with intangibles. You sent or received emails, corresponded on forums, read and distributed articles. This modern internet deals with assets, your most valuable immediate items that you can touch and want to protect. These assets are stored in encoded form on a network-to-network chain called the blockchain or ledger, where each participant sees who you do business with. This not only protects your business dealings and prevents theft, but, also, simplifies your affairs, quickens the process, reduces errors, and saves you from hiring a third party. This decentralized blockchain system is going to change your life from the way you transact business or manage assets, to the way you use your machines, vote, rent a car, and even prove who you are. Along the way, it will transform banks and other financial institutions, hospitals, companies, and governments among others. Heres what the blockchain does and what it means to you. At its simplest, cryptocurrencies, or digital coins, are coins that are passed through an electronic network. You can make transactions by check, wiring, or cash. You can also use a type of virtual currency, most famously Bitcoin (BTC) but also Litecoin, Peercoin, or Dogecoin, among others, where you use an electronic coded address to make the transaction. The more valuable the transaction, the more you want to protect it. Traditional systems hire a mediator, such as a banker or a remittance company to ensure trust. Islanders of Yap had a different solution. They kept a mental record of who owned what and referred to this distributed community record when disputes arose. The blockchain is this community record on a wid Continue reading >>

7 Most Interesting Uses Of Blockchain

7 Most Interesting Uses Of Blockchain

November 10, 2017, 10:05:18 AM EDT By Due.com Blockchain rose to fame as the underlying system behind Bitcoin and other digital cryptocurrencies , but Blockchain has many potential uses that extend far beyond digital money. From the stock market to the bank, Blockchain may be the future of finance and financial technology. Blockchain has so many interesting applications that hundreds of companies have popped up with a focus on the technology. Here are some of the most interesting uses of Blockchain in development today. Africa is arguably the least advanced part of the world in terms of financial development. Outside of a few cosmopolitan areas, much of Africa trades in cash. The economies of African nations are often cut off from the rest of the financial world, but the continent of 1.2 billion inhabitants is poised for exciting developments . BitPesa is aiming to solve Africas liquidity and money transfer fragmentation. The Blockchain based app allows users to do business across Africa with built in foreign exchange and business to business payment features. The company has its biggest operations in Kenya, Nigeria, Tanzania, and Uganda, but this startup app supports payments to over 85 countries including the United States and China. Expect a lot more from this startup in the coming years. Most Blockchain technologies are focused on cash and cash equivalents, but Storj has a completely different focus: cloud storage. Most online storage requires your data to live in a central server, which sends out your web assets on demand when visitors click a link to your page. With a CDN , copies of your data sit in servers around the world, and the closest copy is sent when someone clicks. Storj is taking that to the next level. Using Blockchain and heavy encryption, Storj allo Continue reading >>

Goldman Sachs: Practical Uses For Blockchain From Airbnb To Stock Markets - Business Insider

Goldman Sachs: Practical Uses For Blockchain From Airbnb To Stock Markets - Business Insider

A vertical stack of three evenly spaced horizontal lines. * Copyright 2018 Business Insider Inc. All rights reserved. Registration on or use of this site constitutes acceptance of our The Goldman Sachs logo is displayed on a post above the floor of the New York Stock Exchange, September 11, 2013. "Is the hype around blockchain justified?" asks Goldman Sachs in a blockbuster 88-page note sent to clients this week. The financial world has been going crazy for blockchain technology for the last year or so, hypothesising how it could rip out huge amounts of costs for big banks and streamline operations. Goldman itself was one of the key hype men, declaring in December that the technology "can change... well everything." For those not up to speed, blockchain is a database protocol developed to underpin bitcoin. Rather than having a central record keeping system, identical records are spread across everyone connected to a network. They are all updated simultaneously and transactions only go through when enough parties on the network sign off on them. ( You can read a more in-depth explanation and see a chart from Goldman explaining it here. ) This technology eliminates the need for costly middle men in financial transactions, but also presents plenty of other opportunities for new ways of record keeping and decentralising markets. Goldman's report, titled "Blockchain: Putting Theory into Practice", says that "the discussion often remains abstract," and so is trying to "shift the focus from theory to practice," by looking at real-world applications for blockchain technology. The bank has examined the technology's application in 5 markets. We've summed up its thinking below: SHARING ECONOMY: Building trust on platforms like Airbnb Use case: Store people's online identities on Continue reading >>

Seven Unexpected Blockchain Uses That Will Improve Business

Seven Unexpected Blockchain Uses That Will Improve Business

Seven Unexpected Blockchain Uses That Will Improve Business Opinions expressed by Forbes Contributors are their own. Blockchain is the new darling of the technology world, and it's easy to see why. Its transparency, reliability and decentralized nature make it the clear choice for securing intellectual or virtual assets like cryptocurrency. But, blockchain's uses extend far beyond security, and experts believe we've only justscratched the surface of this technology's full potential . As the tech world continues to speculate about blockchain's future, we asked members of Forbes Finance Council to discuss some unexpected applications of blockchain that will positively impact businesses. All photos courtesy of Forbes Councils members. Forbes Finance Council members discuss what applications could be ahead for blockchain technology. Blockchain is an electronic ledger technology that has many applications, including cryptocurrencies, like Bitcoin and Ethereum. The concept behind this provides a basis for technologically sound and secure payments without leaving behind a paper trail. This new form of managing transactions makes way for industries to facilitate merchant-customer interactions while reducing the carbon footprint. - Ibrahim AlHusseini , The Husseini Group Keep an eye on blockchain integration with Internet of Things technology. Incorporating the security of blockchain with IoT devices will give customers a new level of security and comfort. This should lead to faster adoption of concepts like smart home technology and has the potential to spur growth in the IoT space. - Ismael Wrixen , FE International Expect to see a reduction in fraud. Blockchains are going to digitize the world. Contracts are going to be embedded in digital code and stored in transparent, sha Continue reading >>

The Truth About Blockchain

The Truth About Blockchain

Contracts, transactions, and records of them provide critical structure in our economic system, but they havent kept up with the worlds digital transformation. Theyre like rush-hour gridlock trapping a Formula 1 race car. Blockchain promises to solve this problem. The technology behind bitcoin, blockchain is an open, distributed ledger that records transactions safely, permanently, and very efficiently. For instance, while the transfer of a share of stock can now take up to a week, with blockchain it could happen in seconds. Blockchain could slash the cost of transactions and eliminate intermediaries like lawyers and bankers, and that could transform the economy. But, like the adoption of more internet technologies, blockchains adoption will require broad coordination and will take years. In this article the authors describe the path that blockchain is likely to follow and explain how firms should think about investments in it. Weve all heard that blockchain will revolutionize business, but its going to take a lot longer than many people claim. Like TCP/IP (on which the internet was built), blockchain is a foundational technology that will require broad coordination. The level of complexitytechnological, regulatory, and socialwill be unprecedented. The adoption of TCP/IP suggests blockchain will follow a fairly predictable path. While the journey will take years, its not too early for businesses to start planning. Contracts, transactions, and the records of them are among the defining structures in our economic, legal, and political systems. They protect assets and set organizational boundaries. They establish and verify identities and chronicle events. They govern interactions among nations, organizations, communities, and individuals. They guide managerial and social Continue reading >>

Blockchain: The Invisible Technology That's Changing The World

Blockchain: The Invisible Technology That's Changing The World

Blockchain: The Invisible Technology That's Changing the World Blockchain-based networks, decentralized apps (DApps), and distributed ledgers are becoming the foundation of much of your digital life. There's a new immutable digital fabric remaking the internet beneath us, and you probably don't even realize it. PCMag reviews products independently , but we may earn affiliate commissions from buying links on this page. Terms of use . Blockchain isn't a household buzzword, like the cloud or the Internet of Things. It's not an in-your-face innovation you can see and touch as easily as a smartphone or a package from Amazon. But in a world where anyone can edit a Wikipedia entry, blockchain is the answer to a question we've been asking since the dawn of the internet age: How can we collectively trust what happens online? Every year we run more of our livesmore core functions of our governments, economies, and societieson the internet. We do our banking online. We shop online . We log into apps and services that make up our digital selves and send information back and forth. Think of blockchain as a historical fabric underneath recording everything that happensevery digital transaction; exchange of value, goods and services; or private dataexactly as it occurs. Then the chain stitches that data into encrypted blocks that can never be modified and scatters the pieces across a worldwide network of distributed computers or "nodes." Think about a blockchain as a distributed database that maintains a shared list of records. These records are called blocks, and each encrypted block of code contains the history of every block that came before it with timestamped transaction data down to the second. In effect, you know, chaining those blocks together. Hence blockchain. A blockchain Continue reading >>

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