What is Blockchain Technology?“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.”
Don & Alex Tapscott, authors Blockchain Revolution (2016)
Bitcoin's hype and popularity has risen when it reached its ATH last year December 2017. Many young investors' lives were changed due to the mooning
of bitcoin's value that is really unexpected. The incident invited a lot of new investors and players into the crypto space hoping that this ground breaking
phenomenon will happen again this year or the next few years. I am one of the believers of the technology of bitcoin and the blockchain when I first learned
and studied about it few years back and I'm really interested in knowing the benefits that the technology can offer in the future.
With my interest about the technology of the blockchain, I stumbled upon great innovations and benefits that really manifests blockchains importance to
the society. I just learned about this, so I wanted to share what I've learned to those who haven't read or discovered what blockchain can truly bring to
our society.
CybersecurityGuardtime – 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.
HealthcareGem – 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.
Financial servicesABRA – 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 combating fraud.
It states that “Our belief ...is that blockchain is a fundamental part of the new operating system for the planet.”
Maersk – The shipping and transport consortium has unveiled plans for a blockchain solution for streamlining marine insurance.
Aeternity – Allows the creation of smart contracts which become active when network consensus agrees that conditions have been
met – allowing for automated payments to be made when parties agree that conditions have been met, for example.
Augur – Allows the creation of blockchain-based predictions markets for the trading of derivatives and other financial instruments in a decentralized ecosystem.
Manufacturing and industrialProvenance – This project aims to provide a blockchain-based provenance record of transparency within supply chains.
Jiocoin – India's biggest conglomerate, Reliance Industries, has said that it is developing a blockchain-based supply chain logistics platform
along with its own cryptocurrency, Jiocoin.
Hijro – Previously known as Fluent, aims to create a blockchain framework for collaborating on prototyping and proof-of-concept.
SKUChain – Another blockchain system for allowing tracking and tracing of goods as they pass through a supply chain.
Blockverify - A blockchain platform which focuses on anti-counterfeit measures, with initial use cases in the diamond, pharmaceuticals and luxury goods markets.
Transactivgrid – A business-led community project based in Brooklyn allowing members to locally produce and cell energy, with the goal of reducing costs involved
in energy distribution.
STORJ.io – Distributed and encrypted cloud storage, which allows users to share unused hard drive space.
GovernmentDubai – Dubai has set sights on becoming the world's first blockchain-powered state. In 2016 representatives of 30 government departments formed
a committee dedicated to investigating opportunities across health records, shipping, business registration and preventing the spread of conflict diamonds.
Estonia – The Estonian government has partnered with Ericsson on an initiative involving creating a new data center to move public records onto the blockchain. 20
South Korea – Samsung is creating blockchain solutions for the South Korean government which will be put to use in public safety and transport applications.
Govcoin – The UK Department of Work and Pensions is investigating using blockchain technology to record and administer benefit payments.
Democracy.earth – This is an open-source project aiming to enable the creation of democratically structured organizations, and potentially even states or nations,
using blockchain tools.
Followmyvote.com – Allows the creation of secure, transparent voting systems, reducing opportunities for voter fraud and increasing turnout through
improved accessibility to democracy.
CharityBitgive – This service aims to provide greater transparency to charity donations and clearer links between giving and project outcomes.
It is working with established charities including Save The Children, The Water Project and Medic Mobile.
RetailOpenBazaar – OpenBazaar is an attempt to build a decentralized market where goods and services can be traded with no middle-man.
Loyyal – This is a blockchain-based universal loyalty framework, which aims to allow consumers to combine and trade loyalty rewards in new ways,
and retailers to offer more sophisticated loyalty packages.
Blockpoint.io – Allows retailers to build payment systems around blockchain currencies such as Bitcoin, as well as blockchain derived gift cards
and loyalty schemes.
Real EstateUbiquity – This startup is creating a blockchain-driven system for tracking the complicated legal process which creates friction and expense in
real estate transfer.
Transport and TourismIBM Blockchain Solutions – IBM has said it will go public with a number of non-finance related blockchain initiatives with global partners in 2018.
This video envisages how efficiencies could be driven in the vehicle leasing industry.
Arcade City – An application which aims to beat Uber at their own game by moving ride sharing and car hiring onto the blockchain.
La'Zooz – A community-owned platform for synchronizing empty seats with passengers in need of a lift in real-time.
Webjet – The online travel portal is developing a blockchain solution to allow stock of empty hotel rooms to be efficiently tracked and traded,
with payment fairly routed to the network of middle-men sites involved in filling last-minute vacancies.
MediaKodak – Kodak recently sent its stock soaring after announcing that it is developing a blockchain system for tracking intellectual property rights
and payments to photographers.
Ujomusic – Founded by singer-songwriter Imogen Heap to record and track royalties for musicians, as well as allowing them to create a record
of ownership of their work.
Sources:
https://blockgeeks.com/guides/what-is-blockchain-technology/ https://www.forbes.com/sites/bernardmarr/2018/01/22/35-amazing-real-world-examples-of-how-blockchain-is-changing-our-world/3/