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Cool Uses Of Blockchain

5 Interesting Applications Of Blockchain

5 Interesting Applications Of Blockchain

think for yourself. @jrdngonen views my own. Like any nascent technology, blockchain is full of promise but has a long way to go before making waves in the mass markets. Whether or not you are personally bullish on the future of blockchain (and cryptocurrencies), investing your *time* in understanding how the technology works is a generally interesting process that can help you better navigate the noise. Personally, I try to focus on understanding business applications where creating decentralized systems and transparent public ledgers actually drive value and make lots of sense. Where does it actually make sense to implement a blockchain system? The good and the bad part about the current state of the ecosystem is that more and more makers (engineers, designers, etc.) are building interesting applications of blockchain. While not every project is great, there are tons of opportunities to explore. While many of us are buzzing over the idea of Blockchains killing off the big banks (which I am not so sure will happen), we forget that a large segment of the worlds population still does not have access to modern financial services . These people cannot get loans (to start businesses, get houses, etc.), use banks, or make investments. There is a massive opportunity for Bitcoin to empower citizens of third world countries with a powerful currency that can be used to send money internationally with no fees. On the maker side, you can also start accepting Bitcoin on your website using Stripes Bitcoin API . Incumbents are betting on blockchain technologies too. Goldman Sachs Group Inc. is the fifth most active corporate blockchain investor , with involvement in four companies focused on the distributed-ledger technology since 2012. Visas B2B Connect , a partnership with Chain , 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 >>

11 Answers - What Is The Coolest Application Of Blockchain Technology?

11 Answers - What Is The Coolest Application Of Blockchain Technology?

What is the coolest application of Blockchain technology? Tough question - there are so many cool applications of blockchain (and many more to come) out there.. I find lesser known applications, many outside finance, most intriguing. In the entertainment industry, for instance, blockchain is being used as a content distribution system to empower artists. Blockchain removes the need for a third party allowing full attribution and monetization to go directly to the artist. It decreases the risk of piracy, particularly prominent in music, in addition to the chances of being sold fake art. Companies utilizing Blockchain for the preservation of artist rights include Mediachain (recently purchased by Spotify) and Singulardtv. Although it is in its early stages, edChain , a blockchain for the education industry is right up there on cool factor. Rather than artists content, edChain records and distributes educational material such as tutorials, tests and more on the blockchain. It provides full payment and attribution to the educators so that they are incentivized to focus on helping other learn. In turn, community quality-control enables students to access only top quality material. Money is the coolest application of Blockchain technology. Till now our value for the form of money depended on our ruler. In past times, Gold was excellent form of money. Then Paper money came. Then Debt tools came in form of credit cards. We are dependant on banks and credit card companies, which allow us to do a particular transaction. There are credit scores. These credit scores will determine whether we are suitable to do online shopping. There are hidden bank charges which would sting like a bee. There are rules and regulations to tell us how we can spend our money. Blockchains first app Bit Continue reading >>

7 Most Interesting Uses Of Blockchain

7 Most Interesting Uses Of Blockchain

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 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 allows users to store digital objects in the cloud. With great security, upt 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 >>

20 Real-world Uses For Blockchain Technology

20 Real-world Uses For Blockchain Technology

20 Real-World Uses for Blockchain Technology I bet you didn't realize blockchain could do all of this. Cryptocurrencies simply couldn't be stopped in 2017, and blockchain technology is to thank for that. Blockchain is the digital, distributed, and decentralized ledger underlying most virtual currencies that's responsible for logging all transactions without the need for a financial intermediary, such as a bank. In other words, it's a new means of transmitting funds and/or logging information. Why the sudden need for blockchain? Blockchain is the vision of developers who believed that the current banking system had flaws. In particular, they viewed banks acting as third-parties and pilfering transactions fees as unnecessary, and they scoffed at the idea that payment validation and settlement could take up to five business days in cross-border transactions. With blockchain, real-time transactions are a possibility (even across borders), while banks are left out of the equation entirely, presumably reducing transaction fees. There are other uses for blockchain, too, beyond the currency setting. Numerous Dow Jones Industrial Average components are testing out some of these uses in small-scale projects and controlled demos right now. You're probably wondering what this potentially game-changing technology can actually do in the real world. Well, wonder no more. Here are 20 potential uses for blockchain technology. 1. Payment processing and money transfers Arguably the most logical use for blockchain is as a means to expedite the transfer of funds from one party to another. As noted, with banks removed from the equation, and validation of transactions ongoing 24 hours a day, seven days a week, most transactions processed over a blockchain can be settled within a matter of se 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 >>

What Are The Applications And Use Cases Of Blockchains?

What Are The Applications And Use Cases Of Blockchains?

What Are the Applications and Use Cases of Blockchains? Blockchain technology is a revolution in systems of record. Bitcoin is historys first permanent, decentralized, global, trustless ledger of records. Since its invention, entrepreneurs in industries around the world have come to understand the implications of this development. The nature of blockchain technology has got imaginations running wild, because the idea can now be applied to any need for a trustworthy record. It is also putting the full power of cryptography in the hands of individuals, stoppingdigital relationships from requiring a transaction authority for what are considered pull transactions. For sure, there is also a lot of hype. This hype is perhaps the result of how easy it is to dream up a high-level use case for the application of blockchain technology. It has been described as magic beans by several of the industrys brightest minds. There is more on how to test whether blockchain technology is appropriate for a use case or not in ourguide "Why Use a Blockchain?" . For now, we turn to a discussion of the development of blockchain technology for how it could be useful. Cryptographic keys in the hands of individuals allow for new ownership rights and a basis to form interesting digital relationships. As weve discussed in our guides "What is Blockchain Technology?" , "How Does Blockchain Technology Work?" and "What Can a Blockchain Do?" , blockchains provide an opportunity to establish a strong system for digital identity. Because it is not based on accounts and permissions associated with accounts, because it is a push transaction, and because ownership of private keys is ownership of the digital asset, this places a new and secure way to manage identity in the digital world that avoids exposing us Continue reading >>

Finally, Interesting Uses For The Blockchain That Go Beyondbitcoin

Finally, Interesting Uses For The Blockchain That Go Beyondbitcoin

Finally, interesting uses for the blockchain that go beyondbitcoin Finally, interesting uses for the blockchain that go beyondbitcoin Senior Researcher in Innovation Management, University of Brighton Paul Levy owns shares in CATS3000 Limited. Most people who have heard the term think that the blockchain is only something to do with cryptocurrencies such as bitcoin, litecoin, doguecoin and others. Its the technology that underpins digital currencies and ensures that all transactions are properly conducted and recorded. But what is stored on the blockchain need not be just a currency unit it can be put to all manner of other interesting uses . The blockchain is defined as a system thats secure without a higher authority, distributed across many strangers computers, yet tamper-proof, and promises a mechanism for trust mediated directly between individuals. Essentially, by providing a distributed means to guarantee and verify transactions, the blockchain offers the ultimate opportunity to cut out the middleman. A key aspect is the programmable smart contract : code stored on the blockchain that automatically executes when certain conditions have been met . In uses that involve a financial transaction, it makes sense to use bitcoin or some other digital currency for the same reason by doing so, transactions can be automated and guaranteed without recourse to third parties, such as a bank. Not all uses involve payments. For example, Kim Jackson and Zach LeBeau were married on the blockchain in November. Is a blockchain marriage legally binding? Well, some parts of it would fall within contract law, but its a first symbolic step. Many major companies are looking to the blockchain as a way to simplify and strengthen supply chains , where the blockchain could record each step Continue reading >>

10 Incredible Uses For Cryptocurrency And Blockchain You Probably Haven't Thought Of

10 Incredible Uses For Cryptocurrency And Blockchain You Probably Haven't Thought Of

10 Incredible Uses for Cryptocurrency and Blockchain You Probably Haven't Thought of Cryptocurrency to battle election fraud? De-corrupt charities? Make the world greener? Who knew? Now, more than ever before is a time to be thinking about cryptocurrencies. Over the past few years, cryptocurrency has grown exponentially because of its attractiveness to people looking to use this alternative money. Bitcoin, the best known of the new cryptocurrencies, is one of those words surrounded by automatic buzz, in part because everyone's so excited about its potential. Related: 6 Cryptocurrencies You Should Know About (and None of Them Are Bitcoin) And it's no surprise that cryptocurrencies are exciting, overall. Because they're decentralized (no banks!), anonymous and electric, they've got the potential to change the world as we know it. Interestingly, that change will extend beyond the finance sector: Cryptocurrency, it turns out, has a huge number of uses, many of which will surprise you. Just take a look at these ten: Wealth management is one of the most exciting ways cryptocurrency can be used. That's why companies such as SwissBorg -- a company that's created its own tokens for investment solutions -- are giving investors some great opportunities to manage their wealth without boundaries or restrictions. According to the SwissBorg website, "Whether you are an individual, a DAO [decentralized autonomous organization] or a financial expert, SwissBorg is a democratic ecosystem where you can manage a portfolio of crypto assets." Digital publishers and advertisers are scrambling to find ways to increase their relevancy with one another. Today, traditional banner ads that have almost nothing to do with an article are simply ineffective with users. To fix the irrelevance problem, Continue reading >>

35 Amazing Real World Examples Of How Blockchain Is Changing Our World

35 Amazing Real World Examples Of How Blockchain Is Changing Our World

35 Amazing Real World Examples Of How Blockchain Is Changing Our World Opinions expressed by Forbes Contributors are their own. It's quickly becoming apparent that blockchain technology is about far more than just Bitcoin . Across finance, healthcare, media, government and other sectors, innovative uses are appearing every day. Here is a list of 35 which I have come across. While some may fail to live up to their promises, others could go on to become household names if blockchain proves itself to be as revolutionary as many are predicting. Guardtime This company is creating keyless signature systems using blockchain which is currently used to secure the health records of one million Estonian citizens. REMME is a decentralized authentication system which aims to replace logins and passwords with SSL certificates stored on a blockchain. Gem This startup is working with the Centre for Disease Control to put disease outbreak data onto a blockchain which it says will increase the effectiveness of disaster relief and response. SimplyVital Health Has two health-related blockchain products in development, ConnectingCare which tracks the progress of patients after they leave the hospital, and Health Nexus, which aims to provide decentralized blockchain patient records. MedRec An MIT project involving blockchain electronic medical records designed to manage authentication, confidentiality and data sharing. ABRA A cryptocurrency wallet which uses the Bitcoin blockchain to hold and track balances stored in different currencies. Bank Hapoalim A collaboration between the Israeli bank and Microsoft to create a blockchain system for managing bank guarantees. Barclays Barclays has launched a number of blockchain initiatives involving tracking financial transactions, compliance and com Continue reading >>

What Are The Most Interesting New Blockchain Applications?

What Are The Most Interesting New Blockchain Applications?

What are the most interesting new blockchain applications? Filecoin - use many other peoples computers a little bit as your personal, private, secure cloud. Bitcoin - aiding capital flight and avoiding actual and constructive asset seizure. Many millions of people around the world live under governments with hyperinflation, currency debasement or new regimes. In Zimbabwe, the military overthrew the prior government. Will the new government recognize the currency of the old government? Maybe not. Maybe you should convert your old government currency into Bitcoin. Its not clear how many did this. How many got their Bitcoins hacked or stolen in Venezuela? How many Venezuelans lost Bitcoins and now just buy gold, Swiss Francs or US dollars instead? Filecoin - Whats cool about it? Ill answer with some questions to illustrate the use case . What if your most personal and most important files - be they videos, photos, documents, screenshots, censored books, online diaries (do people even write those anymore?), trade secrets, dreams, nightmares, hopes, failures - what if they were yours and yours alone? What if only you had the electronic key to unlock your files and reassemble them? Also, terrifyingly, what if the NSA, etc. could NOT access your files and you were a terrorist intent on killing people? No company or entity would have your files. Distributed cloud storage is more secure than public or private cloud storage thats centralized (single point of attack) and more secure than you storing things locally. What if a burglar showed up at your home when youre not around, broke in and stole your hard drives and then de-encrypted them later? What if you could bypass oppressive governments that tried to track what you did? What if your government kept devaluing its currency, Continue reading >>

8 Surprising Business Uses For Blockchain Technology

8 Surprising Business Uses For Blockchain Technology

8 Surprising Business Uses for Blockchain Technology Pardon the clich, but blockchaintechnology could just be the greatest thing since sliced bread for businesses. For those of you unaware, blockchain is the digital,distributed, and decentralized ledger that often, but not always, underliescryptocurrencies and is responsible for recording all transactions without theneed for a financial intermediary. That long definition basically means its anew way of sending peer-to-peer or business-to-business payments without theneed for a bank. The evolution of blockchain, which was first pushed into thespotlight in 2009 when bitcoin debuted, is the result of perceived flaws withthe existing banking system. Namely, excessive fees from banks acting as thirdparties during transactions, and lengthy processing times, especially in situationswhere a payment is moving across borders. Blockchain aims to resolve these flaws for the financialservices industry in three key ways. First, blockchain networks aredecentralized, which means theres no central area where transactioninformation is stored. This prevents any business, person, or hacker, fromgaining control of a network. Secondly, it eliminate banks as the intermediary,which could lower transaction fees. Finally, it aims to dramatically speedup processing and settlement times . Rather than waiting up to five days foran overseas payment to validate and settle, blockchain offers the possibilityof completing transactions almost instantly. But for all the notoriety blockchain receives as a solutionfor the financial services industry, it overlooks its potential in non-currencyapplications. Here are eight surprising business uses for blockchain technologythat you probably werent aware of. Arguably the most exciting aspect of blockchain is wh Continue reading >>

What Is Blockchain Used For Besides Bitcoin?

What Is Blockchain Used For Besides Bitcoin?

What Is Blockchain Used For Besides Bitcoin? {{article.article.images.featured.caption}} Opinions expressed by Forbes Contributors are their own. The author is a Forbes contributor. The opinions expressed are those of the writer. This story appears in the {{article.article.magazine.pretty_date}} issue of {{article.article.magazine.pubName}}. Subscribe What are the use cases of Blockchain outside of bitcoin? originally appeared on Quora : the place to gain and share knowledge, empowering people to learn from others and better understand the world. Answer by Alyssa Satara , Masters of Law (LLM) Public International Law & Human Rights, City University London, on Quora : 4 Incredible Examples Of How Blockchain Is Changing The Future Of Human Rights Blockchain is best known for being the technology behind cryptocurrencies like Bitcoin and Ether (the currency of Ethereum), but blockchain is much more than an instrument of finance. Its an encrypted database of agreements, so to speak. This means once a deal is made, neither party can go back and rewrite the terms. Smart Contractsa blockchain based contract that holds both parties accountable by only completing the terms of the agreement once both parties have fulfilled their end of the bargainis a perfect example. Blockchain serves as a bookkeeping platform or ledger that is incorruptible, enforces transparency, and bypasses censorship. By tackling issues of financial, political and institutional corruption, this has the potential to create massive social changeand greatly protect the human rights of every individual. Were already seeing some of this amazing work unfold. This year, the UNWFP sent over 10,000 Syrian refugees cryptocurrency-based vouchers. Led by Ethereum co-founder Gavin Wood, and blockchain big data firm Data 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 >>

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