Our identity system is hopelessly outdated. You might not be aware of it because you are using it on a daily basis and all seems to be fine. However, identity faces a major crisis and some big challenges need to be solved, which can only be done by bringing identity into the 21st century. However, what is identity? Only if we know what identity is, will we be able to change how … [Read more...] about How to Solve a Global Identity Crisis Using Blockchain and Propel identity into the 21st Century
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.
Learning about Blockchain and relevance to Analytics leaders (part 1)
This week, I had the pleasure of attending #CityChain17 (blockchain conference) at IBM's SouthBank offices. Chaired by Paul Forrest (chairman of MBN Solutions), this was an opportunity to learn about Blockchain and how it is being applied. In the past, I viewed the hype about Blockchain (following excitement about Bitcoin its most famous user) as just another fad that might … [Read more...] about Learning about Blockchain and relevance to Analytics leaders (part 1)
The Advent of a New Synergy: the Blockchain & Cloud
The increasing demand for processing power from various industries has seen the growth and evolution of computing technologies to meet this demand. Over the past few years, the tech industry has seen a number of buzzwords that have tremendously impacted the industry such as the Internet of Things, Cloud computing, big data technologies among others. Cloud infrastructures are … [Read more...] about The Advent of a New Synergy: the Blockchain & Cloud
Blockchain Technology Explained: Powering Bitcoin
What's The Big Deal With Bitcoin? Like most good stories, the bitcoin saga begins with a creation myth. The open-source cryptocurrency protocol was published in 2009 by Satoshi Nakamoto, an anonymous developer (or group of bitcoin developers) hiding behind this alias. The true identity of Satoshi Nakamoto has not been revealed yet, although the concept traces its roots back to … [Read more...] about Blockchain Technology Explained: Powering Bitcoin
How the Blockchain Will Change Social Networks
The blockchain is the new technology that people just can't stop seeming to talk about. It's staged to change everything, from currency to digital property to even social media and the attention economy. Some have even taken to calling it the second significant overlay on top of the Internet, aka the trust layer . William Mougayar's The Business Blockchain: Premise, Practice, … [Read more...] about How the Blockchain Will Change Social Networks
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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.
Want to learn more about blockchain? Datafloq has courses available. Contact us to get started.
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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.
