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  • Writer's pictureDanny J. C.

Blockchain Uncomplicated (part 1)

A visually stunning presentation about what is Blockchain you can find under this link "Blockchain Explained".

I would like to speak a bit about mass-adoption and use-cases.

Bitcoin in this regard, certainly had a lot of attention, sky-rocketing late 2017...often as “Bitcoin is dead” with over 250 articles, and counting. Blockchain is the technology that enables the existence of cryptocurrency (among other things). Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology was invented. A cryptocurrency is a medium of exchange, such as the US dollar, but is digital and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds. Originating form idea of Bit Gold, Bitcoin was meant to be, storage of value. Which it is, in its core [due to its slow transaction times barely commercially applicable]. Price appreciation through limited supply, driven by demand, supported by its uniqueness, borderless tradability and golden-shiny symbol ...

"I think the fact that within the bitcoin universe an algorithm replaces the function of the government …[that] is actually pretty cool.” Al Gore (Former Vice President of the United States)
“[Bitcoin] is a remarkable cryptographic achievement… The ability to create something which is not duplicable in the digital world has enormous value…Lot’s of people will build businesses on top of that.” Eric Schmidt (Exec Chairman of Google)

Passive Income. Do you know you can manoeuvre around the volatile crypto market and still reap rewards!? With a Masternode you can earn substantial amount of rewards (how). However, the mount of staking coins needed to run a masternode is pricy. Furthermore, one masternode carries the risk of the project behind the coin failing, and so your investment. Thus, a masternode fund, with up to 10 different masternodes, diversifies the risk and increases rewards by adjusting they investment in popular masternodes. In a nutshell; you can earn by investing in a masternode fund, because even if the market goes down - transactions always take place - and diversification almost guarantees permanent rewards.

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Banking. Swiss bank UBS and UK-based Barclays are both experimenting with blockchain as a way to expedite back office functions and settlement, which some in the banking industry say could cut up to $20B in middleman costs.

Hedge Funds. Backed by names including First Round Capital and Union Square Ventures, Numerai is taking the hedge fund model — employing a bunch of traders and quants — and decentralizing it.

Gaming and Betting. With the addition of blockchain technology, crypto based casinos, and other gambling platforms, it would seem prudent to get up to speed with the legalities of not just gambling on the blockchain, but of online gambling in general. Belotto the world’s first decentralized lottery system that brings transparency and auditability into the lottery business, by eliminating risk of corruption and manipulation through blockchain.

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Voting. Elections require authentication of voters’ identity, secure record keeping to track votes, and trusted tallies to determine the winner. In the future, blockchain tools could serve as a foundational infrastructure for casting, tracking, and counting votes.

Trading and Exchange. Former head of J.P. Morgan's blockchain operation says banks like her former employer could get into the cryptocurrency business and trading soon. Midas Protocol offer the most sophisticated platform for traders incl. conditional trailing stop-loss order, multiple standby orders, programmable ordering. Moonwhale 'Social Crypto Trading' will integrate to all major exchanges, keep your portfolio balanced weighted to the total market values of the top coins and incorporates gamification, seamless user experience boarding the next ten million crypto investors.

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Internet Identity & DNS. In the current web, it’s difficult to establish your true identity, and your personal information lives on company servers for apps you use with little inter-operability.

Infrastructure Security. The current internet architecture has proven easy to hack, especially when it comes to IoT devices. Though blockchain’s ledger is public, its data communications are sent and verified using advanced cryptographic techniques.

Ride Sharing. Ride apps like Uber represent the opposite of decentralization, since they essentially operate as dispatching hubs and dictate what they charge. Blockchain with a distributed ledger, drivers and riders could create a more user-driven, value-oriented marketplace. Redcab is a decentralized peer-to-peer transportation platform that rewards drivers and passengers through and innovative incentive system in the sharing economy.

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Internet Advertisement. The internet as we know it emerged with ad hoc solutions for advertising. In aggregate, ads add tons of mobile data usage to loading web pages, and both advertisers and consumers suffer from any lack of protocols.

Crypto Exchanges. One way blockchain reduces conventional cybersecurity risk is by simply removing the need for human intermediaries — thus lessening the threat of hacking, corruption, or human error. BITOZZ is a great example - Exchange for Derivatives Trading!

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Education. Blockchain solutions in education could streamline verification procedures. Sony Global Education, for example, has developed a new educational platform in partnership with IBM that uses blockchain to secure and share student records.

Car Leasing. Visa partnered with transaction management startup DocuSign on a proof-of-concept project that used blockchain to streamline car leasing — transforming it into a “click, sign, and drive” process.

Industrial IOT. IBM and Samsung have been working on a concept known as ADEPT (Autonomous Decentralized Peer-to-Peer Telemetry), which uses blockchain-type technology to form the backbone of a decentralized network of IoT devices, which would no longer need a central hub to mediate communication between them.

Cloud Storage. Enterprises that offer cloud storage often secure customers’ data in a centralized server, which can mean increased network vulnerability from attacks by hackers. Blockchain cloud storage solutions allow storage to be decentralized — and therefore less prone to attacks. Loyakk platform is built using the blockchain technology, allowing for secure, verified and irreversible exchange of data. Its primary aim is to allow for business networks to share, communicate and exchange data with their respective partners.

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Medical Data. Through blockchain technology, patient data could be added to the ledger, creating one universal health record for each patient, allowing a patient to focus on their health, instead of gathering and organizing their health information. Aimedis is one single ecosystem for your healthcare and medical data. Store your data securely and anonymously, backed by our proprietary blockchain, and share it with the doctors you trust.

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Cloud Computing. Blockchain-based processing projects like Golem are allowing users to rent out their CPU capacity and be rewarded with tokens. Similarly, Ethereum itself has been informally called the “world’s supercomputer” because of its ability to execute smart contracts and its mining is ASIC resistant (allowing everyday PC owners to compete proportionally with big mining operations).

Music/Artists Rights And IP. Artists are turning to the blockchain to make content sharing fairer for creators using smart contracts, whereby the revenue on purchases of creative work can be automatically disseminated according to pre-determined licensing agreements.

Gamification. One of the most advantageous methodologies that has been put into practice is gamification, or the idea of adding game-like features on websites, applications, and user communities with the intent of increasing participation and overall interaction. Ufity motivates you to exercise more. Run, work out, walk, move and convert your effort into Fitys, the internal cryptocurrency to purchase offers, incentivise and share with friends.

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Stock Trading. For years companies have worked to ease the process of buying, selling, and trading stocks, and now new blockchain-focused startups are looking to automate and secure the process more efficiently.

Real Estate. Real estate blockchain applications can help record, track, and transfer land titles, and more, and can help ensure that all documents are accurate and verifiable. Besides, tokenizing asset enable a board market to retail investors to be able to easily acquire CRE.

Healthcare. Use of blockchain technology could allow hospitals, payers, and other parties in the healthcare value chain to share access to their networks without compromising data security and integrity.

Supply Chain. Supply chains are a series of transaction nodes that link to move products from point A to the point-of-sale or final deployment. With blockchain, the transactions can be documented in a permanent decentralized record, reducing time delays, and human errors. Dafzo a global P2P logistics platform support supply chains and democratize international trade finance, global e-commerce logistics and consignment forwarding system by eliminating intermediaries for the entire supply chain.

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Energy. Energy management is another industry that has historically been highly centralized. As with other industries, the distributed ledger could minimize (or eliminate) the need for intermediaries. ENPOWER by Envidatec trading solar power in remote location, providing renewable energy access to the unbanked, reinvest 80% into expansion and solar hardware, returning passive income by revenue sharing to its investors, and protecting nature, addresses 6 major United Nations (UN) Sustainable Development Goals (SDG).

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Crowdfunding. Initial Coin Offerings (ICOs), in which companies sell cryptocurrency-backed tokens in their companies in the same manner as a publicly-traded company sells stock, are another example of blockchain-powered crowdfunding. Stefan Bergström and Danny Christ providing ICO consulting and services from A-Z. Our global network reaches from Europe to UAE and Southeast Asia, which c-level connections to industry and corporations, in retail, banking, manufacturing, automotive, fashion, supply chain, software provider, real estate and hospitality, for business development, enabling partnerships beyond the ICO. We provide early token swaps for liquidity and risk diversification, exclusive investor events and marketing strategies to make your project a success. 🔥🔥ICOA🔥🔥

Sources: Thomson Reuters, CB Insights, PwC, World Economic Forum, IWS FinTech


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