It is an outrageous scandal that we should not accept. Even if your Facebook profile has not been obtained by Cambridge Analytica, we should not accept such a massive breach of privacy, and those responsible should be held accountable. Those valuing their privacy should think carefully about their usage of Facebook. For those unaware of Cambridge Analytica, it is a data mining … [Read more...] about Why the Current Cambridge Analytica / Facebook Scandal Requires us to Rethink Social Media
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.
What Will the Convergence of Blockchain and IoT Bring Us?
Every second, 266. Every minute, 15,982. And every day 23 million “ are the number of devices connecting to the Internet of Things now. Two years from now the figure will mushroom to 1585 per second, 95,129 a minute, and 137 million each day. That's about 50 billion IoT-connected devices, approximately six for each person in 2020. That's a huge number. Isn't it? But the … [Read more...] about What Will the Convergence of Blockchain and IoT Bring Us?
How to Develop a Blockchain Strategy: A Blockchain Roadmap for Your Business
Knowing what blockchain is and how it can contribute to solving some of the world's biggest challenges is one thing; knowing how to develop a blockchain strategy is another thing altogether. Meanwhile, understanding how to implement a blockchain strategy within your business is even more difficult. Blockchain, particularly when used in concert with emerging technologies such as … [Read more...] about How to Develop a Blockchain Strategy: A Blockchain Roadmap for Your Business
Second Line of Defence for Cybersecurity: Blockchain
In the first part we covered AI as the first line of defence for cybersecurity, the goal was to keep the cyber-criminals at bay, but in case they managed to get-in and infiltrate the network we need to initiate the second line of defence; #Blockchain. With the fact that cybercrime and cybersecurity attacks hardly seem to be out of the news these days and the threat is growing … [Read more...] about Second Line of Defence for Cybersecurity: Blockchain
How Blockchain Can Improve the Democratic Process and Enable a Liquid Democracy
With the authoritarian model gaining strength in the world and President Xi Jinping of China consolidating his power and changing the rules to effectively become emperor for life, democracy is having a tough time at the moment. Even President Trump praised Xi's move and joked about doing the same thing in the US. The Democracy Index, developed by the Economist Intelligence Unit … [Read more...] about How Blockchain Can Improve the Democratic Process and Enable a Liquid Democracy
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.