Topic: How does blockchain technology on real world service work? (Read 257 times)
With blockchain technology, in fact, it's a block, and people who exploit it will get an individual reward that is usually bitcoin or some coin. Blockchain technology can help users to anonymize their information.
In Market Research industry, survey.expert adopts blockchain into data protection and preventing data manipulation. It is actually a market research startup based in Cologne.
How does the blockchain technology apply to the real world service? If I would like to have a blockchain technology on a supply chain service, which means under this technology, each block contains all the logistics information like storing a transaction from Singapore to Hong Kong right? So then it is just act like a database but just public can view it? then why should I necessary to develop such a service on blockchain but not continue using centralized database technology, only allow permission for beneficial stakeholders?
Please correct me as I am having a very messy concept on this topic right now.... Thank you~!
Blockchain is a kind of wallet which was discovered only for Bitcoin transactions as bitcoin is the first digital currency which can be traded in online. But now-a-days Bitcoin, Ether, Bitcoin Cash can be traded by blockchain. Please correct me as I am having a very messy concept on this topic right now.... Thank you~!
Like paper money and gold before it, bitcoin and ether allow parties to exchange value. Unlike its predecessors, it is digital and decentralized. For the first time in history, people can exchange value without intermediaries which translates to greater control of funds and lower fees.
A centralized database storage system, in your case, will be a bit more complicated if a very high number of data is suppose to be stored from different parts of the country. Many of the transaction informations can be manipulated if a 'strong' monitoring body isn't present. Secondly, trust is an important factor for you to grow well and effectively. BLOCKCHAIN technology eliminates the possibility of theft by providing high level of security to the database which can be looked upon anytime by high level managering services.
For more help and development of your services using blockchains, you can contact us at https://www.digixhub.com/schedule-a-demo/
For more help and development of your services using blockchains, you can contact us at https://www.digixhub.com/schedule-a-demo/
Using Blockchain as a database Is a great solution to many problems. Blockchain can be used to secure the supply chain each product is given a tag thereby securing the chain. It also eliminates middlemen. The business partners can discuss and share the information directly with each other. The parties can also know about all the financial and physical information which helps to address the fraud, inefficiencies and find methods to solve them.
In my further understanding, I know that blockchain is not only limited to public blockchain like how bitcoin do, blockchain can also limit to private or even hybrid. Like how I know some ICO about blockchain on medicals are indicating that the person like doctors, nurse can have the permission to access your medical data, so no matter where you are, your medical record is still one and comprehensive.
Correct. But you have to deal with the privacy/information security issue here, so either lock the data up in independent databases and just keep hashes on the blockchain, or use a privacy-friendly technology such as ZCash.
In my further understanding, I know that blockchain is not only limited to public blockchain like how bitcoin do, blockchain can also limit to private or even hybrid. Like how I know some ICO about blockchain on medicals are indicating that the person like doctors, nurse can have the permission to access your medical data, so no matter where you are, your medical record is still one and comprehensive.
In the real world business blockchain technology secure business transactions, prevent thefts
Prevent thefts of digital goods (like currency etc.), not theft of real goods. The blockchain does not secure anything in the real world, it just makes the difference (whether a good has been stolen or faked) more transparently visible. You still need real-world mechanisms to actually secure the goods.
Like in the popular example of a blockchain-based land registry: This registry would prevent corrupt officials from falsifying the records about which land belongs to whom, but they won't help you if there's a person with a gun on your land chasing you away.
How does the blockchain technology apply to the real world service? If I would like to have a blockchain technology on a supply chain service, which means under this technology, each block contains all the logistics information like storing a transaction from Singapore to Hong Kong right? So then it is just act like a database but just public can view it? then why should I necessary to develop such a service on blockchain but not continue using centralized database technology, only allow permission for beneficial stakeholders?
Please correct me as I am having a very messy concept on this topic right now.... Thank you~!
Please correct me as I am having a very messy concept on this topic right now.... Thank you~!
If a logistics or a supply chain company will adopt and used blockchain technology, it might not be public, it will be privately control by the company itself. And yes you are right that is like a database of sort. The main difference though is that Database can be manipulated while once the block is written it can't be altered. So it prevents creating duplicates and data is validated instantly. Another advantage is again since data can't be altered, so it allows the traceability of data from the front end up to the release of the product so its tamper proof guaranteeing the integrity of the product itself.
And just think how quickly the blockchIn would grW to an unmanageable size. With a database you can archive old data.
How does the blockchain technology apply to the real world service? If I would like to have a blockchain technology on a supply chain service, which means under this technology, each block contains all the logistics information like storing a transaction from Singapore to Hong Kong right? So then it is just act like a database but just public can view it? then why should I necessary to develop such a service on blockchain but not continue using centralized database technology, only allow permission for beneficial stakeholders?
Please correct me as I am having a very messy concept on this topic right now.... Thank you~!
Please correct me as I am having a very messy concept on this topic right now.... Thank you~!
Those who opt for blockchain to digitally store their private data consider that blockchain is transparent. Transparent in the sense that no single entity has the power to delete or alter YOUR private data at any given time. Essentially, instead of handing your files to a company like Amazon or Microsoft, you distribute it across a network of people all over the world. The cloud is shared by the community, and nobody can read or tamper with anyone else’s sensitive data. In other words, you stay in control. This could also be useful in public services to keep public records safe, available, and decentralized.
I commend your critical thinking process. In regards to supply chain, the purpose for blockchain to replace a database is simply irrevocable data. You can't alter blockchain whereas you can always fudge a number or two in a database. Can't keep track of missing shipments of expensive handbags etc. So in regards to supply chain, it's a great idea and a great example of blockchain in the real world.
It also means you are storing every state of every thing in the supply chain. There is one transaction for it leaving the warehouse (status = "in transit") and another record for it being delivered (status = "delivered"). That could be a silly amount of data compared to setting a flag, in a record, in a database. 
How does the blockchain technology apply to the real world service? If I would like to have a blockchain technology on a supply chain service, which means under this technology, each block contains all the logistics information like storing a transaction from Singapore to Hong Kong right? So then it is just act like a database but just public can view it? then why should I necessary to develop such a service on blockchain but not continue using centralized database technology, only allow permission for beneficial stakeholders?
Please correct me as I am having a very messy concept on this topic right now.... Thank you~!
Please correct me as I am having a very messy concept on this topic right now.... Thank you~!
If a logistics or a supply chain company will adopt and used blockchain technology, it might not be public, it will be privately control by the company itself. And yes you are right that is like a database of sort. The main difference though is that Database can be manipulated while once the block is written it can't be altered. So it prevents creating duplicates and data is validated instantly. Another advantage is again since data can't be altered, so it allows the traceability of data from the front end up to the release of the product so its tamper proof guaranteeing the integrity of the product itself.
I commend your critical thinking process. In regards to supply chain, the purpose for blockchain to replace a database is simply irrevocable data. You can't alter blockchain whereas you can always fudge a number or two in a database. Can't keep track of missing shipments of expensive handbags etc. So in regards to supply chain, it's a great idea and a great example of blockchain in the real world.
From my understanding decentralize system much more safer than centralize system since decentralize system people can't alter or change the information in the block-chain.
How does the blockchain technology apply to the real world service? If I would like to have a blockchain technology on a supply chain service, which means under this technology, each block contains all the logistics information like storing a transaction from Singapore to Hong Kong right? So then it is just act like a database but just public can view it? then why should I necessary to develop such a service on blockchain but not continue using centralized database technology, only allow permission for beneficial stakeholders?
Please correct me as I am having a very messy concept on this topic right now.... Thank you~!
Please correct me as I am having a very messy concept on this topic right now.... Thank you~!
A major problem these people face is that they have to trust a 3rd party(Centralized). When it comes to huge supply chains, this 3rd party takes too much time and paper work. Also there are cases where the 3rd party tends to have a biased decision making.
Blockchain need not be used in 'all' supply chains, But where there are a lot of stakeholders and the concept of 3rd party creates a trust issue. Blockchain can help in making the database tamperproof and keeps a copy on all the nodes
Cheers
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True, that is also the concern about if my shipping information is to be public, then my privacy might lost, like going which location = disclosing my home address / some people might know when does the government / army department delivering any dangerous good from and at what time, which might cause crime there too.
As I have made some research these days, I know that public chain may only applicable on some, as agreed from the above comment, the access of data might not be fully being public, it can be hybrid, required special permission. Then under this, what is the different between a decentralised blockchain and a centralised database? Does replacing by blockchain really help improving the logistics?
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How does the blockchain technology apply to the real world service?
In the real world business blockchain technology secure business transactions, prevent thefts, ease and accelerate transactions, reduces faults without the need of third partyIf I would like to have a blockchain technology on a supply chain service, which means under this technology, each block contains all the logistics information like storing a transaction from Singapore to Hong Kong right? So then it is just act like a database but just public can view it? then why should I necessary to develop such a service on blockchain but not continue using centralized database technology, only allow permission for beneficial stakeholders?
Yes, it does act like data base but the info can be lock away on block chain ledger(public view as you said) and once that is done only people that have smart keys can access their information.
There are a lot of ways it can work on real world services like for example Gold database, medications supply/demand and a lot.
But I guess you are interested in what's currently integrated in real life. Well, Georgia already registered land titles on the blockchain. It's positive side is that information is available for anyone and no one can edit blocks as they wish. Blockchain technologies are extra protection here.
But I guess you are interested in what's currently integrated in real life. Well, Georgia already registered land titles on the blockchain. It's positive side is that information is available for anyone and no one can edit blocks as they wish. Blockchain technologies are extra protection here.
I think How does blockchain technology on real world service work? The blockchain is a very good system for running a company, because it is very privacy or security level is guaranteed. This is what makes many of the real world's leading companies use the blockchain system.
It's more for shrinkage.
In the supply chain with multisig wallet, you will sign a coin over, requiring the sender, delivery and recepitent to all sign to transfer. Now they all know each other's public keys (as part of multisg) but not each other's private key.
Now if everything is going normally, there will be a one to one match between coin and product and they will all eventually end up with coins destroyed when product goes to consumer.
If a product goes missing at any point, identify the transaction from the public keys. If someone doesn't get the product they don't sign (you can see who is signing and who isn't from the transactions public keys) they can't both be right so any disagreement is what the shrinkage officer needs to know. He can be told exactly where to go to begin investigating.
Note these are all dedicated cryptos for the problem not actually Bitcoin.
In the supply chain with multisig wallet, you will sign a coin over, requiring the sender, delivery and recepitent to all sign to transfer. Now they all know each other's public keys (as part of multisg) but not each other's private key.
Now if everything is going normally, there will be a one to one match between coin and product and they will all eventually end up with coins destroyed when product goes to consumer.
If a product goes missing at any point, identify the transaction from the public keys. If someone doesn't get the product they don't sign (you can see who is signing and who isn't from the transactions public keys) they can't both be right so any disagreement is what the shrinkage officer needs to know. He can be told exactly where to go to begin investigating.
Note these are all dedicated cryptos for the problem not actually Bitcoin.
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