Since the awareness of the availability of Big Data hit the business world in the early 2000s, more and more organisations have switched to data-driven approaches to everything from hiring to product development. A recent Deloitte survey reveals that 62 percent of businesses already use analytics as a driver for strategic decisions, and the reason is obvious--Businesses that … [Read more...] about How a Decentralised Ecosystem Will Change Big Data Analytics
Blockchain
The future of money may be blockchain. This technology is quickly changing the way we do business, and it has huge implications for organisations. Here's everything you need to know about blockchain technology.
Why You Shouldn’t Have To Trust Anyone With Your Data
It has become commonplace for users to have to provide personal information in order to gain access to a service. At the very least, to have an account on any website, the site wants a username and password to protect access to your account. At the other end of the spectrum, companies in the financial, medical, e-commerce, and public sector have vast repositories of data on … [Read more...] about Why You Shouldn’t Have To Trust Anyone With Your Data
What Are Smart Contracts?
Before the invention of blockchain, whenever someone made a transaction, it required trust. Restaurants had to trust that diners would pay with non-counterfeit money, banks had to trust that a loan recipient would pay his mortgage, businesses had to trust that their contracts were legally binding and that both parties would deliver what they agreed to. The same is true for … [Read more...] about What Are Smart Contracts?
What We Can Learn from China’s Sesame Credit
The internet has a problem. On the one hand, we have the Western internet' where everyone can do as they like, where you can be anonymous and say/do whatever you want, but where reputation and online trust is difficult. As the famous saying goes: on the internet, nobody knows that you are a dog . On the other hand, we have the Chinese internet', where every action you do is … [Read more...] about What We Can Learn from China’s Sesame Credit
How can Blockchain and IoT transform supply chain management?
Supply chain management is a complicated area that has various challenges. For many years, businessmen of different industries have been working on providing just-in-time safe delivery and supply chain transparency. Blockchain technology has tremendous potential to transform supply chain management. By storing and managing supply chain data and allowing autonomous transactions, … [Read more...] about How can Blockchain and IoT transform supply chain management?
What is blockchain?
Blockchain is a type of distributed ledger, or a growing list of records, called blocks, linked together using cryptography. Each block contains a timestamp and a link to the previous block. Blockchain is often used to verify and oversee transactions, such as real estate or cryptocurrency purchases or diamond trades.
Beyond this, however, blockchain technology has the potential to revolutionize many industries, but it’s still in its early stages of development. Today, blockchain technology is also used to create new applications, such as contracts and supply chain management systems.
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How does blockchain work?
At its most basic, a blockchain is a digital ledger of transactions. When someone wants to make a transaction, they broadcast it to the network, and the computers in the network verify it. Once verified, it is added to the blockchain as a block. Blocks are chained together, forming the blockchain.
This chain is distributed across the network, so everyone has a copy. Transactions are secure because the network verifies them before they are added to the blockchain. And because everyone has a copy of the blockchain, it is tough to fraudulently add or remove blocks from the chain.
Who owns blockchain?
No single entity controls the technology. Instead, blockchain is maintained by a network of computers all over the world. However, we can trace the origins of blockchain back to a single person: Satoshi Nakamoto. Nakamoto is the pseudonym used by the person or team who created the first-ever cryptocurrency, Bitcoin.
Why is blockchain important?
Blockchain is important because it is secure and tamper-proof. Transactions recorded on the blockchain cannot be changed or deleted, making it an ideal way to track financial transactions. In addition, blockchain is transparent – anyone can view the transaction history of any given address.
This transparency helps to ensure that all transactions are legitimate and that no one is trying to cheat the system. Finally, blockchain is decentralized, which means that no one person or organization controls it. This makes it resistant to manipulation and creates a level playing field for all users.
What companies use blockchain?
From start-ups to Fortune 500 firms, many businesses are incorporating blockchain into their day-to-day operations. In doing so, they are improving efficiency and transparency and opening up new opportunities for innovation.
How is the blockchain changing money and business?
A blockchain is a powerful tool because it is distributed across a network of computers, making it virtually impossible to tamper with. This makes it an ideal tool for tracking sensitive information. For example, many banks are now experimenting with using blockchain to settle international payments, which can significantly reduce transaction times and costs.
Blockchain is also being used to create an immutable record of digital assets, such as copyrights and votes. As technology continues to develop, there are endless possibilities for how it can be used to change the way we do business.