blog

Here’s the science behind A Perfect BLOCKCHAIN PROMOTION

Blockchains are the new hot technology like forex trading, and they’re coming to a business near you. The headline you see in bright red letters across your screen saying “This is NOT a Blockchain Advertisement” means absolutely nothing anymore. It’s time for us to start educating about this new trend that’s about to take over the world in the next few years.

If you still don’t know what a “blockchain” is, start doing your research. Wikipedia defines it as: “A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. It is ‘an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way’. It is an abstract representation of digital assets.”

1. What is a blockchain?

A blockchain is, quite simply, a secure list of records that can be accessed by anyone in the world that knows how to read it. The current record of each block is stored on multiple computers known as nodes (see below for more details) that all share the same ledger at any point in time. When you make your transaction, you add to the chain. The next person to access the chain can see when it was created and who made it and what they put into it. Transactions can also be made so that they can be viewed by an individual or group. For example, a new restaurant could add a transaction to their chain on the opening day with pictures and specials, but only allow staff members access to it. The blockchain is like a universal filing system that each person has the ability to access and add to. The beauty of this is that there’s no need for any one party to control it anymore. The data is safe, secure, and constantly updated on many computers at once so no one has the power to alter it.

2. Where did all this come from?

A blockchain, or a distributed ledger technology (DLT) has been around for quite some time. In 2008, a group of anonymous programmers released an open source software project called “Bitcoin”. This made it possible to create digital assets that could be exchanged directly between peers without having to go through a central third party. The blockchain is what makes the exchange possible and any transaction can be viewed and tracked at any point in time. Nowadays, there are over thousands of projects that are either being developed or tested in a limited fashion (see news approved site).

3. Who is using this technology?

The most recent company to announce their plans for blockchain integration with their business is the Walt Disney Company . The entertainment giant is looking to integrate blockchain technology with their parks, resorts and the consumer goods business. This is the first major integration of blockchain and a mainstream brand, so it’s no wonder that a lot of business owners are intrigued at this possibility. Another big company that has been using blockchain technology for quite some time now is IBM . You may not know it, but IBM has been using blockchain technology with Walmart in order to improve food safety by tracking where food is being shipped from and how long it takes to get to its destination before arriving at Walmart’s stores.

4. How will this affect our future?

By 2021 the global market for DLT applications across all industry sectors will reach $13.7 billion, according to IDC. This means that in the coming years you can expect to see a lot more businesses and social organizations using blockchain technology because of its endless possibilities for growth. Even this past weekend a small town in upstate New York called Rhinebeck was using blockchain technology at the Chihuly Glass Flower exhibit for outreach. The glass workers were tracking their inventory and storing it on a blockchain so that their customers could view what was available at all times.

5. How is this different from an Excel spreadsheet?

A big difference between a blockchain like ICO and an Excel spreadsheet is the element of time. A blockchain is constantly updated, which means that if you view a transaction that was made a month ago, it will still show up in the proper order. A spreadsheet has to be updated manually by whatever party controls it. Another difference is that you can allow anyone access to a blockchain without giving them power over it. For example, a third party can be viewing your transactions without being able to alter them. This is the beauty of an open source platform. The final big difference is what happens when someone attempts to hack into either one of them. Someone who hacks into an Excel spreadsheet can change whatever they want and no one would ever know because the only way another person would know you changed anything was if you told them about it.

Ethan More

Share
Published by
Ethan More
Tags: victim support unit maltavictim support unit policevictim support vacanciesvictim support volunteervictim synonymvictimized synonymvictims of crime act maltavictims of crime assistancevictims of crime unitvictims of white-collar crimevictims support unitvictims support unit maltavictor affiliatesvictor azzopardivictor azzopardi facebookvictor azzopardi florianavictor azzopardi jewellersvictor azzopardi jewellers il furjanavictor azzopardi jewellers tal pietÃvictor azzopardi opening hoursvictor azzopardi pietavictor calvagna biographyvictor calvagna wikipediavictor churchill armadalevictor churchill butchervictor churchill butcher pricesvictor churchill buy onlinevictor churchill dessertsvictor churchill instagramvictor churchill pricesvictor churchill restaurant menuvictor churchill terrinevictor definitionvictor dog foodvictor dog food ingredientsvictor dog food liver failurevictor dog food near mevictor dog food reviewsvictor emmanuel iivictor grech actorvictor grech artistvictor grech obituaryvictor grech paintingsvictor grech phdvictor hi-pro plus reviewvictor hugo gemini manvictor jewelryvictor lindelöfvictor lindelöf fifa 20victor lindelöf statsvictor lindelof current teamsvictor lindelof fifa 19victor lindelof newsvictor lindelof statsvictor lindelof transfer newsvictor lindelof vaccinevictor lindelof wifevictor mosesvictor moses agevictor moses assistsvictor moses biographyvictor moses bornvictor moses brothervictor moses chelseavictor moses contactvictor moses contevictor moses contractvictor moses fifa 20victor moses fifa 21victor moses housevictor moses liverpoolvictor moses net worthvictor moses numbervictor moses parentsvictor moses positionvictor moses premier leaguevictor moses rangersvictor moses salaryvictor moses spartak moscowvictor moses state of originvictor moses statsvictor moses transfer feevictor moses transfermarktvictor moses villagevictor moses whoscoredvictor moses wifevictor osimhenvictor osimhen 2020victor osimhen agentvictor osimhen carsvictor osimhen fifa 19victor osimhen fifa 20victor osimhen fifa 20 potentialvictor osimhen fifa 21victor osimhen fifa 21 ratingvictor osimhen fifa 22victor osimhen fifa 22 potentialvictor osimhen fifa 22 sbcvictor osimhen goals

Recent Posts

Things You Should Know about Merchant Services for Your Business in Tampa Florida

To most small businesses, getting the proper payment processing solution is key. But how do…

2 weeks ago

How To Buy NCD: A Step-by-Step Guide

Understanding NCDs Non-Convertible Debentures (NCDs) are fixed-income instruments issued by corporations to raise capital. Unlike…

3 months ago

Things You Should Know About How Do Merchant Services Work

Merchant services are a must for any business looking to accept credit and debit card…

3 months ago

Keeping Things Flowing: The Importance of Drain Cleaning Services

Blocked drains can be a homeowner's nightmare, causing inconvenience, unpleasant odors, and potential damage to…

7 months ago

Unveiling the Symbolism of Colombia’s Flag Colors

Uncover the profound symbolism behind the colors of the Colombian flag in this enlightening article.…

8 months ago

Revolutionizing Fish Tanks: Latest Aquarium Tech Innovations

Discover the latest fish tank innovations in aquarium technology! From energy-efficient LED lighting for vibrant…

8 months ago