Topic: What are the real world use of Proof of existence - blockchain (Read 262 times)
Fintech (or insurtech) idea that you use your insurance company's app (that stores the pictures in a blockchain type database) to take some pictures of your car if a falling tree hits it because of the heavy wind (pictures contain GPS and time data in EXIF). Pictures are hashed and the blockchain grows, but there's no modification possible after. The insurance company can be sure that you (or you can be sure that the insurance company) cannot modify the pictures later, so they can calculate an amount to pay you based on those pictures (and they can cut the costs if they don't need to send out their staff to take those pictures of your car).
November 01, 2017, 10:26:09 AM
is document can be put on blockchain more than one time ? no double posting?
November 01, 2017, 10:13:33 AM
The reason it's important is that no one, but no one, can corrupt the information.
If we take something like property titles in the developing world, if there are any at all they'll be in the control of one corrupt department that can be bribed or wiped. If the man in charge feels like having your farm away then there's not a huge amount you can do. You may not have had the ability to record anything.
If the same property titles were on a blockchain there's no one in control, no one to corrupt and it can be verified anywhere in the world at any time. That's a big and important leap.
If we take something like property titles in the developing world, if there are any at all they'll be in the control of one corrupt department that can be bribed or wiped. If the man in charge feels like having your farm away then there's not a huge amount you can do. You may not have had the ability to record anything.
If the same property titles were on a blockchain there's no one in control, no one to corrupt and it can be verified anywhere in the world at any time. That's a big and important leap.
So we can upload anything in any format and later view it! see this: https://poex.io/
The reason it's important is that no one, but no one, can corrupt the information.
If we take something like property titles in the developing world, if there are any at all they'll be in the control of one corrupt department that can be bribed or wiped. If the man in charge feels like having your farm away then there's not a huge amount you can do. You may not have had the ability to record anything.
If the same property titles were on a blockchain there's no one in control, no one to corrupt and it can be verified anywhere in the world at any time. That's a big and important leap.
If we take something like property titles in the developing world, if there are any at all they'll be in the control of one corrupt department that can be bribed or wiped. If the man in charge feels like having your farm away then there's not a huge amount you can do. You may not have had the ability to record anything.
If the same property titles were on a blockchain there's no one in control, no one to corrupt and it can be verified anywhere in the world at any time. That's a big and important leap.
Looking for a practical use case for it? is it like storing something with time stamp on it? but whats the catch, isn't this possible already without blockchain?
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