The future of finance is shaping up with "Block Chain Technology" on the rise. Bitcoin unstoppable? Microsoft founder Bill Gates says, "Nobody can stop Bitcoin".
Considering the current value of Bitcoin against the INR (1 Bitcoin=179440 INR) the world is moving towards migrating to Block Chain Technology to build the future of business and its processes.
The presentation talks about what block Chain Technology is and how is it diversifying into other industry verticals.
This presentation takes the viewer through the basics of block chain concepts, its evolution and why it is a paradigm shift.
It also explores the ways in which the block chain concept can be put to use and how it has the potential to revolutionize the way businesses are conducted today.
Key takeaways
Idea of Blockchain.
The technology behind Blockchain.
Why it is a paradigm shift.
How it may be put to use in different industries.
Industry leaders believed that blockchain is the remedy for making the IoT industry and network more robust. So, sure, the presence of blockchain can overcome many of the issues and risks faced by the IoT industry. visit>>>https://www.bitdeal.net/blockchain-in-iot
Blockchain - part 6 of 7 modern trends that every it pro should know about-Ibrahim Muhammadi
Blockchain and decentralized applications based on it are disrupting all major industries today. That is why I have included it in my series of 7 modern trends that every IT pro should know about.
The future of finance is shaping up with "Block Chain Technology" on the rise. Bitcoin unstoppable? Microsoft founder Bill Gates says, "Nobody can stop Bitcoin".
Considering the current value of Bitcoin against the INR (1 Bitcoin=179440 INR) the world is moving towards migrating to Block Chain Technology to build the future of business and its processes.
The presentation talks about what block Chain Technology is and how is it diversifying into other industry verticals.
This presentation takes the viewer through the basics of block chain concepts, its evolution and why it is a paradigm shift.
It also explores the ways in which the block chain concept can be put to use and how it has the potential to revolutionize the way businesses are conducted today.
Key takeaways
Idea of Blockchain.
The technology behind Blockchain.
Why it is a paradigm shift.
How it may be put to use in different industries.
Industry leaders believed that blockchain is the remedy for making the IoT industry and network more robust. So, sure, the presence of blockchain can overcome many of the issues and risks faced by the IoT industry. visit>>>https://www.bitdeal.net/blockchain-in-iot
Blockchain - part 6 of 7 modern trends that every it pro should know about-Ibrahim Muhammadi
Blockchain and decentralized applications based on it are disrupting all major industries today. That is why I have included it in my series of 7 modern trends that every IT pro should know about.
In Gartner’s “Hype Cycle for Emerging Technologies, 2015,” the Internet of Things and cryptocurrencies are both in the “Peak of Inflated Expectation” category, considered to be “world-changing technologies” that can change forever how we interact with things and money. How about joining both techs in the same use cases? Can you have secure IoT with the blockchain technology (the underlying tech of Bitcoin and other cryptocurrencies)? Attend this session to explore together the possibilities and see what’s real and what’s not worth a dime.
This is a presentation I delivered in Feb 2019 regarding my book "Blockchain Guida all'Ecosistema" https://amzn.to/2EejKKn (ebook) https://amzn.to/2EbELW7 (paperback).
BlockChains are a logical next step beyond centralised and distributed (networked) ledgers used to record all forms of transaction, files and documentation for legal, medical, industrial, government and defence entities. The biggest change is the lack of any middle man and/or institutions. With open and available to anyone, individuals and groups as well as companies can build open, closed, public or private BlockChains.
The technology constitutes a step function in security, privacy, reliability and utility. Although it is the basis of BitCoin and other currencies, it is not limited to financial transactions and can be applied to all forms of asset movement, agreements, documents, files, voting and more across all sectors.
The base concepts are founded on networking and distributed adjudication processes that generally embrace Digital Signatures, Public and Private Key, Encryption, and Hash Checks.
The implementation of a blockchain platform may facilitate the exchange of information among the parties involved in the process. This can be achieved by storing the cargo information on the ledger. Instead of exchanging documentation, the parties involved in the process are granted permission to access the block where the information is stored. This leads to the creation of a unique, shared piece of information which can be accessed in real-time and with lower transaction costs. The process can be further accelerated by including parties that are currently external to the process (banks, insurance companies).
Beyond bitcoin ..... Block chain technology is inciting change across the fin...Marc Kennis
Block Chain technology is being tailored to suit a range of different application areas. Current testing will culminate in commercial roll out of multiple applications in 2017. Failure to rapidly adopt it may lead to companies being caught out, effectively becoming permanent outsiders.
When it comes to the Internet of Things, a blockchain can be provide a platform to handle device authentication process and thereby prevent a spoofing attack by malicious parties who may impersonate some other device to launch an attack to steal data or cause some other mayhem.Blockchain will allowdirect communication between two or more devices so that they are able to transact without going through a third-party intermediary, and in effect make spoofing more cost prohibitive. This White Paper explains how blockchain can improve the security of IOT devices.
7 Predictions & Future Trends of Blockchain Technology for 2021ArpitGautam20
Know about 7 amazing predictions & future trends of Blockchain Technology in 2021 that can assist Financial Institutions, Government Agencies & Businesses.
Blockchain use cases in 2022 real world industry applicationsArpitGautam20
These are interesting predictions and real-world industry applications of Blockchain Technology that will take the world by storm in 2022! https://arsr.tech/blockchain-use-cases-in-2022-real-world-industry-applications/
“What is Blockchain Technology?” – this is the question that more and more people ask nowadays. Learn more about blockchain:
http://pragmaticcoders.com/blog/what-is-blockchain/
Blockchain Technology and Its Application in LibrariesNabi Hasan
Background
Blockchain: Conceptual Understanding
What is Blockchain Technology?
The Three Pillars of Blockchain Technology
Why is Blockchain Popular?
What is Distributed Ledger?
Blockchain for Enterprise Application Developer
Possible Areas of Implimention of Blockchain Technology in Libraries
Blockchain for IoT Security and Privacy: The Case Study of a Smart HomeKishor Datta Gupta
Internet of Things (IoT) security and privacy remain
a major challenge, mainly due to the massive scale and
distributed nature of IoT networks. Blockchain-based approaches
provide decentralized security and privacy, yet they involve
significant energy, delay, and computational overhead that is
not suitable for most resource-constrained IoT devices. In our
previous work, we presented a lightweight instantiation of a
BC particularly geared for use in IoT by eliminating the Proof
of Work (POW) and the concept of coins. Our approach was
exemplified in a smart home setting and consists of three main
tiers namely: cloud storage, overlay, and smart home. In this
paper we delve deeper and outline the various core components
and functions of the smart home tier. Each smart home is
equipped with an always online, high resource device, known
as ”miner” that is responsible for handling all communication
within and external to the home. The miner also preserves
a private and secure BC, used for controlling and auditing
communications. We show that our proposed BC-based smart
home framework is secure by thoroughly analysing its security
with respect to the fundamental security goals of confidentiality,
integrity, and availability. Finally, we present simulation results
to highlight that the overheads (in terms of traffic, processing
time and energy consumption) introduced by our approach are
insignificant relative to its security and privacy gains.
You can choose the Blockchain certification course offered by Blockchain Council. These online certification programs are a great way to ensure that you become a part of the ever-changing and growing technologies.
This presentation given at the Stanford Law School Workshop on Computable Contracts provides an overview smart contracts, that run on a blockchain, and also provides an analytical framework for understanding the use cases for their development.
Blockchain in IoT and Other Considerations by Dinis GuardaDinis Guarda
Blockchain in IOT And other considerations:
IoT, Business Strategy, Tech, Security and Blockchain as a foundation tech
How to manage IoT / Blockchain for business strategy, technical set up, security, plus blockchain
The natural tech evolution marriage that has yet to properly consummate?
Why IOT products may not live up to their promise and how to overcome these to build successful IoT / Blockchain products.
The blockchain is the technology the underpins digital currency (Bitcoin, Litecoin, Ethereum, and the like). The tech allows digital information to be distributed, but not copied. ... You may hear it described as a “digital ledger” stored in a distributed network.
In Gartner’s “Hype Cycle for Emerging Technologies, 2015,” the Internet of Things and cryptocurrencies are both in the “Peak of Inflated Expectation” category, considered to be “world-changing technologies” that can change forever how we interact with things and money. How about joining both techs in the same use cases? Can you have secure IoT with the blockchain technology (the underlying tech of Bitcoin and other cryptocurrencies)? Attend this session to explore together the possibilities and see what’s real and what’s not worth a dime.
This is a presentation I delivered in Feb 2019 regarding my book "Blockchain Guida all'Ecosistema" https://amzn.to/2EejKKn (ebook) https://amzn.to/2EbELW7 (paperback).
BlockChains are a logical next step beyond centralised and distributed (networked) ledgers used to record all forms of transaction, files and documentation for legal, medical, industrial, government and defence entities. The biggest change is the lack of any middle man and/or institutions. With open and available to anyone, individuals and groups as well as companies can build open, closed, public or private BlockChains.
The technology constitutes a step function in security, privacy, reliability and utility. Although it is the basis of BitCoin and other currencies, it is not limited to financial transactions and can be applied to all forms of asset movement, agreements, documents, files, voting and more across all sectors.
The base concepts are founded on networking and distributed adjudication processes that generally embrace Digital Signatures, Public and Private Key, Encryption, and Hash Checks.
The implementation of a blockchain platform may facilitate the exchange of information among the parties involved in the process. This can be achieved by storing the cargo information on the ledger. Instead of exchanging documentation, the parties involved in the process are granted permission to access the block where the information is stored. This leads to the creation of a unique, shared piece of information which can be accessed in real-time and with lower transaction costs. The process can be further accelerated by including parties that are currently external to the process (banks, insurance companies).
Beyond bitcoin ..... Block chain technology is inciting change across the fin...Marc Kennis
Block Chain technology is being tailored to suit a range of different application areas. Current testing will culminate in commercial roll out of multiple applications in 2017. Failure to rapidly adopt it may lead to companies being caught out, effectively becoming permanent outsiders.
When it comes to the Internet of Things, a blockchain can be provide a platform to handle device authentication process and thereby prevent a spoofing attack by malicious parties who may impersonate some other device to launch an attack to steal data or cause some other mayhem.Blockchain will allowdirect communication between two or more devices so that they are able to transact without going through a third-party intermediary, and in effect make spoofing more cost prohibitive. This White Paper explains how blockchain can improve the security of IOT devices.
7 Predictions & Future Trends of Blockchain Technology for 2021ArpitGautam20
Know about 7 amazing predictions & future trends of Blockchain Technology in 2021 that can assist Financial Institutions, Government Agencies & Businesses.
Blockchain use cases in 2022 real world industry applicationsArpitGautam20
These are interesting predictions and real-world industry applications of Blockchain Technology that will take the world by storm in 2022! https://arsr.tech/blockchain-use-cases-in-2022-real-world-industry-applications/
“What is Blockchain Technology?” – this is the question that more and more people ask nowadays. Learn more about blockchain:
http://pragmaticcoders.com/blog/what-is-blockchain/
Blockchain Technology and Its Application in LibrariesNabi Hasan
Background
Blockchain: Conceptual Understanding
What is Blockchain Technology?
The Three Pillars of Blockchain Technology
Why is Blockchain Popular?
What is Distributed Ledger?
Blockchain for Enterprise Application Developer
Possible Areas of Implimention of Blockchain Technology in Libraries
Blockchain for IoT Security and Privacy: The Case Study of a Smart HomeKishor Datta Gupta
Internet of Things (IoT) security and privacy remain
a major challenge, mainly due to the massive scale and
distributed nature of IoT networks. Blockchain-based approaches
provide decentralized security and privacy, yet they involve
significant energy, delay, and computational overhead that is
not suitable for most resource-constrained IoT devices. In our
previous work, we presented a lightweight instantiation of a
BC particularly geared for use in IoT by eliminating the Proof
of Work (POW) and the concept of coins. Our approach was
exemplified in a smart home setting and consists of three main
tiers namely: cloud storage, overlay, and smart home. In this
paper we delve deeper and outline the various core components
and functions of the smart home tier. Each smart home is
equipped with an always online, high resource device, known
as ”miner” that is responsible for handling all communication
within and external to the home. The miner also preserves
a private and secure BC, used for controlling and auditing
communications. We show that our proposed BC-based smart
home framework is secure by thoroughly analysing its security
with respect to the fundamental security goals of confidentiality,
integrity, and availability. Finally, we present simulation results
to highlight that the overheads (in terms of traffic, processing
time and energy consumption) introduced by our approach are
insignificant relative to its security and privacy gains.
You can choose the Blockchain certification course offered by Blockchain Council. These online certification programs are a great way to ensure that you become a part of the ever-changing and growing technologies.
This presentation given at the Stanford Law School Workshop on Computable Contracts provides an overview smart contracts, that run on a blockchain, and also provides an analytical framework for understanding the use cases for their development.
Blockchain in IoT and Other Considerations by Dinis GuardaDinis Guarda
Blockchain in IOT And other considerations:
IoT, Business Strategy, Tech, Security and Blockchain as a foundation tech
How to manage IoT / Blockchain for business strategy, technical set up, security, plus blockchain
The natural tech evolution marriage that has yet to properly consummate?
Why IOT products may not live up to their promise and how to overcome these to build successful IoT / Blockchain products.
The blockchain is the technology the underpins digital currency (Bitcoin, Litecoin, Ethereum, and the like). The tech allows digital information to be distributed, but not copied. ... You may hear it described as a “digital ledger” stored in a distributed network.
In this case study, we are providing information about the Introduction of Blockchain Technology, Bitcoin and its environment setup, Ethereum coin, other cryptocurrencies, Bitcoin in education, and a case study of healthcare using blockchain.
The fundamental security properties of blockchain originate from both bitcoin architecture and cryptography advances. the proficiency of the cryptographic chain of blocks was advanced giving birth to various inborn security qualities.
A simple interactive ppt on the basics of Blockchain.
What is Blockchain? Why we need it? How it works? Advantages & Disadvantages and many more topics like this.
A blockchain is essentially a distributed database of records or public ledger of all transactions or digital events that have been executed and shared among participating parties. Each transaction in the public ledger is verified by consensus of a majority of the participants in the system. And, once entered, information can never be erased. The blockchain contains a certain and verifiable record of every single transaction ever made. To use a basic analogy, it is easy to steal a cookie from a cookie jar, kept in a secluded place than stealing the cookie from a cookie jar kept in a marketplace, being observed by thousands of people. In the report, it distinguishes between multiple types of blockchains and explains the two biggest platforms, namely Bitcoin and Ethereum. While introducing those two platforms we explain the most important technology and algorithms used such as proof of work concept. Some of the security issues and solutions are also covered. We conclude with some concrete Ethereum based applications that demonstrate the usage of blockchain technology beyond cryptocurrency and illustrate current developments in this field.
One of the most hyped IT buzzwords to have emerged in the last couple of years. Blockchain has found its way into major media headlines on a near-daily basis, but a year and a half ago, it was a word used by a relatively small number of people to describe the peer-to-peer distributed ledger technology.
Pros and Cons of Blockchain Technology: Your Complete Go-to GuidePixel Crayons
The benefits of Blockchain are many, but do you know what makes it the need of the hour? Multiple participants manage its decentralized database known as Distributed Ledger Technology (DLT).
Yes, Blockchain is a disruptive technology compared to traditional database systems. Besides, not a single entity controls it; there is no chance of exploitation or suppression from any one party. As a business owner, I know you might be thinking of adopting Blockchain; however, you are still unsure about it.
To take you out of this dilemma, I am here to discuss some most prominent pros and cons of Blockchain. So, get ready to dive deep and discover some amazing Blockchain pros along with some blockchain cons.
Since the technology is not so old and needs expertise, always hire a trusted Blockchain development company.
Blockchain technology is a revolutionary way of storing and transferring data. While it has its share of cons, it is possible to rectify most of them with the right planning and execution. The current state of blockchain technology makes it the best suit for businesses that want to take advantage of its distributed ledger features. However, the technology is not simple as it seems to be. Hence, I would once again recommend you to hire Blockchain developers with experience and the right skills in Blockchain development services. Otherwise, your business may suffer.
COMMENTS
Blockchain technology is one of the most talked-about topics in the tech world right now. It has been hailed as a revolutionary technology that could change the way we do business and has been the subject of much speculation.
Foreword
This paper is the result of a research project carried out by Labs
in EVRY Financial Services during the fall of 2015. The content of
this report is the result of a comprehensive study, featuring online
sources, literary works, as well as recordings of financial
conferences such as Consensus 2015 and Fintech Week 2015.
We aim to provide a comprehensive report detailing the
opportunities, challenges and key success factors for financial
institutions looking to leverage the opportunities presented by
blockchain technology.
We hope you enjoy this study and that it helps give you greater
understanding.
Blockchain Fundamentals Explained In Simplest WayeTailing India
Currently, most people use a trusted middleman such as a bank to make a transaction. But blockchain allows consumers and suppliers to connect directly, removing the need for a third party.
Using cryptography to keep exchanges secure, blockchain provides a decentralized database, or “digital ledger”, of transactions that everyone on the network can see. This network is essentially a chain of computers that must all approve an exchange before it can be verified and recorded.
Blockchain Technology Explained
You must have heard about the term “blockchain,” in reference to Bitcoin and othercryptocurrencies.
https://www.leewayhertz.com/blockchain-technology-explained/
blockchain, Bitcoin, cryptocurrencies, blockchain technology, blockchain developers
#blockchain #Bitcoin #cryptocurrencies #blockchaintechnology #blockchaindevelopers
This slide is about 'Blockchain Technology'. Blockchain is a method of recording information that makes it impossible or difficult for the system to be changed, hacked, or manipulated. A blockchain is a distributed ledger that duplicates and distributes transactions across the network of computers participating in the blockchain. Blockchain helps verify and trace multistep transactions needing verification and traceability. Cryptocurrencies are usually built using blockchain technology. Blockchain describes the way transactions are recorded into "blocks" and time stamped. It's a fairly complex, technical process, but the result is a digital ledger of cryptocurrency transactions that's hard for hackers to tamper with.
FMCG Sector analysis, Porter five model in fmcg sector, company analysis of ITC Ltd., Business model of ITC-Ltd, Function of HR Manager, Type of Training in ITC Ltd., Performance management cycle of itc ltd. Employee benefit provided in ITC Ltd.
Analysis of Good Knight Market PotentialRinshi Singh
Sector Information, Porters five force model explained, Company Information i.e. Godrej,SWOT Analysis of Godrej, Market growth of Godrej, Product portfolio of Godrej, PLC of Good Knight, SWOT Analysis of Good Knight, Financial Statement of Godrej, Ratio Analysis of Godrej, Human Resource Policy of Godrej, Selection & Recruitment Process of Godrej, Job Description and Job Specification of Godrej, Type of Training provided in Godrej
Monopolistic Competition- Short run LossRinshi Singh
Meaning of Monopolistic competition, Features of Monopolistic competition, Short run loss, Conclusion, type of market structure, Monopolistic firms have short run loss
layout of bagfull mart, type of signage used by the store, Visual Merchandising, store atmospherics and ambience of bagfull mart, Private label brands of Bagfull Mart
FMCG Sector Analysis, Tata Global Beverages Company Beverages SWOT Analysis, Product Portfolio, Sales Forecast, Factor analysis for Consumer Buying behavior, STP OF Himalaya Water
Common Wealth Scam India 2010, Suresh Klamadi, Detail explanation of Common Wealth scam, Impact of common wealth scam 2010, Committee Member of Organising Team of Common Wealth Game 2010,
Project Report on Trend Analysis of Mutual FundRinshi Singh
Financial sectors, Growth Drivers of financial sector, Porter's model of financial sector, 5nance.com company details, company usp,KYC Verification process, Mutual funds performance
Starbucks Omni-channel Marketing Presentation through video Rinshi Singh
Starbucks Omni-channel Strategy, Starbucks Misspell Strategy of marketing, Mobile app of Starbucks, Advertisement Video of Mobile App of Starbucks, Advertisement of Starbucks with offer& discounts,
HDFC Bank background, HR Strategy adopted by HDFC Bank for employer branding, Marketing practices of HDFC Bank, Use of social media for employer branding,Employee benefit programs
Analysing Top FMCG Company performanceRinshi Singh
FMCG sector concept, Market Structure of FMCG sector,analysis of top five companies on sales, profit, expense parameters of the company include ITC, Marico, Godrej,Nestle, HUL performance till now
Data Centers - Striving Within A Narrow Range - Research Report - MCG - May 2...pchutichetpong
M Capital Group (“MCG”) expects to see demand and the changing evolution of supply, facilitated through institutional investment rotation out of offices and into work from home (“WFH”), while the ever-expanding need for data storage as global internet usage expands, with experts predicting 5.3 billion users by 2023. These market factors will be underpinned by technological changes, such as progressing cloud services and edge sites, allowing the industry to see strong expected annual growth of 13% over the next 4 years.
Whilst competitive headwinds remain, represented through the recent second bankruptcy filing of Sungard, which blames “COVID-19 and other macroeconomic trends including delayed customer spending decisions, insourcing and reductions in IT spending, energy inflation and reduction in demand for certain services”, the industry has seen key adjustments, where MCG believes that engineering cost management and technological innovation will be paramount to success.
MCG reports that the more favorable market conditions expected over the next few years, helped by the winding down of pandemic restrictions and a hybrid working environment will be driving market momentum forward. The continuous injection of capital by alternative investment firms, as well as the growing infrastructural investment from cloud service providers and social media companies, whose revenues are expected to grow over 3.6x larger by value in 2026, will likely help propel center provision and innovation. These factors paint a promising picture for the industry players that offset rising input costs and adapt to new technologies.
According to M Capital Group: “Specifically, the long-term cost-saving opportunities available from the rise of remote managing will likely aid value growth for the industry. Through margin optimization and further availability of capital for reinvestment, strong players will maintain their competitive foothold, while weaker players exit the market to balance supply and demand.”
Levelwise PageRank with Loop-Based Dead End Handling Strategy : SHORT REPORT ...Subhajit Sahu
Abstract — Levelwise PageRank is an alternative method of PageRank computation which decomposes the input graph into a directed acyclic block-graph of strongly connected components, and processes them in topological order, one level at a time. This enables calculation for ranks in a distributed fashion without per-iteration communication, unlike the standard method where all vertices are processed in each iteration. It however comes with a precondition of the absence of dead ends in the input graph. Here, the native non-distributed performance of Levelwise PageRank was compared against Monolithic PageRank on a CPU as well as a GPU. To ensure a fair comparison, Monolithic PageRank was also performed on a graph where vertices were split by components. Results indicate that Levelwise PageRank is about as fast as Monolithic PageRank on the CPU, but quite a bit slower on the GPU. Slowdown on the GPU is likely caused by a large submission of small workloads, and expected to be non-issue when the computation is performed on massive graphs.
Explore our comprehensive data analysis project presentation on predicting product ad campaign performance. Learn how data-driven insights can optimize your marketing strategies and enhance campaign effectiveness. Perfect for professionals and students looking to understand the power of data analysis in advertising. for more details visit: https://bostoninstituteofanalytics.org/data-science-and-artificial-intelligence/
2. Block chain Technology-
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 the main 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 don’t need to know how the blockchain works
to use it. However, having a basic knowledge of this new technology shows why it’s
considered revolutionary. So, we hope you enjoy this, what is Blockchain guide.
A reliable, difficult-to-hack record of transactions – and of who owns what. Blockchain is
based on distributed ledger technology, which securely records information across a
peer-to-peer network. Although it was originally created for trading Bitcoin, blockchain’s
potential reaches far beyond cryptocurrency. Blockchain ledgers can include land titles,
loans, identities, logistics manifests – almost anything of value. The technology is still
new, but the potential impact it can have on business is exciting, and immense.
Benefits of Blockchain-
1. Fewer intermediaries-Blockchain is a true peer-to-peer network that will reduce
reliance on some types of third-party intermediaries – like banks, lawyers, and
brokers.
2. Faster process-Blockchain can speed up process execution in multi-party
scenarios – and allow for faster transactions that aren’t limited by office hours.
3. Transparency-Information in blockchains is viewable by all participants and
cannot be altered. This will reduce risk and fraud, and create trust.
4. Security-The distributed and encrypted nature of blockchain mean it will be
difficult to hack. This shows promise for business and IoT security.
5. Automation-Blockchain is programmable – which will make it possible to
automatically trigger actions, events, and payments once conditions are met.
6. Return on Investment-Distributed ledgers will provide quick ROI by helping
businesses create leaner, more efficient, and more profitable processes.
4. The idea of decentralization-
By design, the blockchain is a decentralized technology.
Anything that happens on it is a function of the network as a whole. Some important
implications stem from this. By creating a new way to verify transactions aspects of
traditional commerce could become unnecessary. Stock market trades become almost
simultaneous on the blockchain, for instance — or it could make types of record
keeping, like a land registry, fully public. And decentralization is already a reality.
A global network of computers uses blockchain technology to jointly manage the
database that records Bitcoin transactions. That is, Bitcoin is managed by its network,
and not any one central authority. Decentralization means the network operates on a
user-to-user (or peer-to-peer) basis. The forms of mass collaboration this makes
possible are just beginning to be investigated.
The blockchain and enhanced security-
By storing data across its network, the blockchain eliminates the risks that come with
data being held centrally.
Its network lacks centralized points of vulnerability that computer hackers can exploit.
Today’s internet has security problems that are familiar to everyone. We all rely on the
“username/password” system to protect our identity and assets online. Blockchain
security methods use encryption technology.
The basis for this are the so-called public and private “keys”. A “public key” (a long,
randomly-generated string of numbers) is a users’ address on the blockchain. Bitcoins
sent across the network gets recorded as belonging to that address. The “private key” is
like a password that gives its owner access to their Bitcoin or other digital assets. Store
your data on the blockchain and it is incorruptible. This is true, although protecting your
digital assets will also require safeguarding of your private key by printing it out, creating
what’s referred to as a paper wallet.
“As revolutionary as it sounds, Blockchain truly is a mechanism to bring
everyone to the highest degree of accountability. No more missed transactions,
human or machine errors, or even an exchange that was not done with the
consent of the parties involved. Above anything else, the most critical area where
Blockchain helps is to guarantee the validity of a transaction by recording it not
only on a main register but a connected distributed system of registers, all of
which are connected through a secure validation mechanism.”
– Ian Khan, TEDx Speaker | Author | Technology Futurist