Just as word-of-mouth can make or break your business, your online reputation can either help or hurt your business. In today's digital world, our "real" lives are increasingly becoming merged with our digital lives and it is transcending to the world of business and e-commerce. But how can you ensure what is being said about your company or one that you plan to do business … [Read more...] about Here’s Why Blockchain Matters for Your Online Reputation
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.
Advances in Blockchain Analytics, Through more Investment & Collaboration
Since our previous post, raising questions for Blockchain to answer, I have seen more news on Blockchain Analytics. It seems many individuals and firms are working in this space. To bring together the power of analytics (sometimes plus AI), to help both analyse blockchain data and enable new types of analytics. We raised, in that previous post, the unanswered questions on … [Read more...] about Advances in Blockchain Analytics, Through more Investment & Collaboration
How Blockchain Could Improve Your Big Data
The rise of cloud storage has helped companies collect and manage massive amounts of data. Data comes from corporate systems, Internet of Things objects and unstructured sources like online forums. New analytics tools like Hadoop help companies make sense of that data. Yet simply having data and analysis tools doesn't mean the results of an analysis are meaningful. Getting true … [Read more...] about How Blockchain Could Improve Your Big Data
12 Myths about Blockchain Technology
Blockchain, the "distributed ledger" technology, has emerged as an object of intense interest in the tech industry and beyond. Blockchain technology offers a way of recording transactions or any digital interaction in a way that is designed to be secure, transparent, highly resistant to outages, auditable, and efficient; as such, it carries the possibility of disrupting … [Read more...] about 12 Myths about Blockchain Technology
How Blockchain Technology Will Affect the Future of Banking
Andrey Sharov, a vice president at Sberbanks, a Russian bank, recently told journalists that blockchain technology would render banks redundant within a decade. However, in a recent interview with CNBC, Brock Pierce, the chairman of Bitcoin Foundation, a cryptocurrency advocacy organization based in America, said, although blockchain technology will have a negative impact on … [Read more...] about How Blockchain Technology Will Affect the Future of Banking
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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.
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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.
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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.
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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.
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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.
