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Blockchain Technology – A Major Player of the Tech Space

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Blockchain’s new CFO – BTC News Online

The business sphere is overcrowded with enterprises that are all set to implement their blockchain strategies. After all, not directing toward Blockchain would be an unwise act which can put many businesses into grave danger. Hence, they have geared themselves up to adopt various applications of Blockchain Technology after going through a profound phase of estimation and analysis to assess its pros and cons.

There is a definite upside to embracing this spectacular invention, however, there is a line of risks involved in taking this step. As they say, there is no gain without a little loss. It is needless to say that introducing a new stack of technology is an already functional environment can lead to hacks, security contraventions along with data loss.

Hence, there is a bunch of questions spinning around the business. Do blockchain protocols own a secure level of maturity? Are they fine enough to be deployed in big-scale ventures? Are business leaders equally comfortable in using this new technology as they are with the older ones?

After giving it an in-depth thought, the top-notch BaasS providers have shown an inclination toward this unconventional technology. They are the biggest fans of Blockchain Technology which can act as a great service model for them. They already possess a significant customer base and seems rational for these cloud providers to bring Blockchain into their vicinity. Take a look at how this initiative is taking a profitable shape.

  1.   Microsoft Azure

It is a commonly known fact that Microsoft is a leading BaaS provider in the market. Until now, it was dealing in Ethereum along with offering services for network fabrics in Hyperledger and R3’s Corda. Now, it has begun to invest in Blockchain technologies by contriving Azure Blockchain Service and the Azure Blockchain Workbench.

  1.   IBM Cloud

IBM plays a core role in maintaining source code for Hyperledger fabric and hence, is a major cloud service provider. Now, IBM has endeavored to become multi-cloud by opening IBM Blockchain 2.0 that can help you run fabric network over several cloud providers.

  1.   Amazon Web Services 

The managed blockchain zone is controlled by Microsoft Azure and AWS is equal capacities. When it comes to choosing which one is better, it completely depends on your acuity. In case, you belong to the finance sector, Azure will go better with your needs while AWS is suitable for industries like insurance, healthcare, and related verticals. 

  1.   Oracle Blockchain

 The Blockchain platform produced by Oracle has based its solutions solely on Hyperledger Fabric. It might not be ideal, however, it offers well-ordered service, such as blockchain explorer, node provisioning along with enhanced security.

  1.   VMWare

VMW made a profound study to analyze the problems with the present blockchain infrastructure. It is associating with Concord to solve these problems which is a trusted, scalable and efficacious infrastructure for smart contracts implementation and consensus. 

These are the biggies of the BaaA market. There is also another line of service companies utilizing the blockchain to offer products which are based on the current cloud computing platforms. They can be perceived as smaller ventures. Organizations in this league are mostly startups that introduce new offerings every month. They encompass a wide array if Blockchain protocols and provide solutions that are vivid and vibrant.

In a nutshell, though the blockchain technology stack exhibits potential, there is still some time for it to take its mature form and become ready for mainstream enterprise acceptance. 

Read More: IBM Adds More Automation To Cloud Migration Factory, Partners With ServiceNow

 

Blockchain

Top 5 sectors that will be benefited by Blockchain

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If your business has not gone digital or you haven’t heard of Blockchain technology, you are probably living under a rock that has not yet been hit by the storm. Blockchain is one of the most disruptive technologies today, which has the potential to change our lives for better. With any new technology, there are insecurities among people, and early adopters are to benefit here. This benefit is because they know more about the technology and can leverage this to catapult their business to unprecedented success.

Bitcoin was the word that put Blockchain on the lips of the common man. As you might know, Bitcoin is a cryptocurrency, a digital currency which is not controlled centrally, because everyone collectively controls it. Because it is not controlled by any government and chances of duplicity and fraud happening in a bitcoin transaction was mere to none. The cryptocurrency gained huge momentum, and its value was once pegged at $1000. But, more interesting than Bitcoin is the technology behind it, Blockchain.

In the Blockchain technology, a ledger records all the transactions between all stakeholders. The benefit of Blockchain technology is that the ledger is permanent (cannot be altered or deleted or overwritten), open (anyone in the system can view it) and distributed (every computer in the network has a copy of the ledger). For example- In bitcoin, whenever someone transfers 100 bitcoins to your account, the ledger which is maintaining the bitcoin transactions between the two of you would be automatically updated in a decentralized bitcoin transaction chain, with a time-stamp.

The remaining balance of bitcoins in both of your accounts would also be updated simultaneously, and all these transactions are verified by thousands of bitcoin “miners” spread across the world.

The bitcoin mining software which is installed into these mining computers verifies a “private” key which is a secret set of 64 characters, numbers and symbols which is sent by both the sending and receiving wallets. The private key is not visible to anyone and is securely stored in the bitcoin wallet of the user.

Once verified the mining software adds “blocks” containing the details of the transaction to the ledger. Thus, an entire chain of time-stamped blocks is created, and no-one can delete it. Apart from this, no user can add consecutive blocks to the ledger, and this blocks another point of rigging the system.

Hundreds of startup are experimenting with the Blockchain technology in various industries and sectors, ranging from government records, bank transactions to health records.

Let us explore the various areas where Blockchain has the potential to change our future for good.

Banking and Finance Sector

Big banks like JP Morgan Chase, Citigroup, Barclays, Wells Fargo are slowly but surely waking up to the power of Blockchain technology. They are future-proofing themselves by investing millions of dollars in developing their Blockchain-based systems. JP Morgan Chase has developed a new Blockchain-based system which would speed up the transaction times by reducing the number of parties involved in verifying a transaction. The Intercontinental Exchange, a company which owns the world-famous New York Stock Exchange, has invested in Blockchain technology. The Blockchain technology can prove to be a boon for the Banking and financial sector, as it gives an impregnable level of security and a high level of transparency in financial transactions.

Financial institutions are mulling over adopting Blockchain for updating the KYC details of the customer. As the record in a Blockchain system is transparent and irreversible, uploading KYC details in a shared ledger through which an independent verification of KYC documents once done by one bank can be accessed by other banks, thus eliminating the need for re-verification of KYC documents.

Logistics

Logistics and transportation is another potential area which stands to benefit from Blockchain technology. There is a major communication problem in the international logistics industry with multiple stakeholders like carriers, forwarders, agents, terminals, haulers, shippers, customs officials involved in the process. It is a headache to keep track of the package without the intervention of computers. The application of Blockchain in the documentation process of shipping and logistics can help in increasing efficiency and in reducing the costs. Companies like Everledger are changing the paradigms of doing business in the diamond industry by leveraging the power of Blockchain technology. Everledger ensures that each point of transaction right from mining to retail sales of the diamond is electronically verified in an open ledger. In this manner, customers can be sure that they are buying real diamonds from conflict-free areas.

According to an estimate, around $140 billion are tied up in the transport sector. Using Blockchain in transportation could improve the clearance of dues.

Real estate

The real estate sector has been technologically averse, traditionally but with the onset of Blockchain technology, this scenario is bound to change. Paper records can be tampered, while tampering a Blockchain record, is next to impossible. Taking advantage of this feature, the entire process of record-keeping in real estate can be shifted to a Blockchain-based system. This would ensure that there is no fraudulent transaction in the process. The cost of documentation would be drastically reduced with various intermediaries like the title companies and real estate lawyers being replaced with smart contracts at some places. These smart contracts are executed once all the conditions of the transaction are met, leading to a rule-based system which is protected from Human errors.

Another potential application of Blockchain in Real Estate would be using Blockchain in conducting online property searches. Many times it is seen that in third Party real estate platforms like Zillow, the property listed on the website is sold, but the information has not been updated on the website. To eliminate this issue Blockchain can be integrated into such applications, creating a shared ledger of properties with all the details like price sold, date sold, the names of the buyer and seller. This would ensure accuracy in the data regarding properties. An online real estate platform called Imbrex is using Blockchain in this manner.

Government

Governments all across the world have been plagued with corruptions scandals since time immemorial. Blockchain has the potential to stop this by introducing a public ledger for all the government services. For example, the bidding for a government contract can be recorded in a Blockchain to prevent corruption. Governments of countries like Estonia, Georgia, and Sweden have started experimenting with Blockchain technology by introducing it in their land record management. The distrust among the public decreases when the record is un-alterable and open for all.

The security of data in government organizations can be increased by implementing Blockchain. Governments are large holders of data and hence are the prime target for hackers. Applying Blockchain, the failure points of data can be distributed, therefore eliminating the chance of a large scale data breach. Agencies such as the Department of Homeland security in the U.S.A are investing millions into Blockchain technology.

Pharma industry

There is a thriving market for fake drugs worth $30 billion all over the world. Counterfeit drugs are a menace that threatens to kill the Pharma industry. There is an unprecedented rise in the number of pharmaceutical crime-related incidents.

wordlwide-pharmaceuticals

(Image courtesy: https://www.raconteur.net/business-innovation/counterfeit-medicines-killing-people-and-brands)

If we have a supply chain system of pharmaceutical products which is based upon the Blockchain technology, then this problem of counterfeit drugs can be tackled effectively. Using

Blockchain technology can be implemented in drug trials. Applying Blockchain technology, the drug trials can be expedited, leading to shorter drug discovery cycles. Around 6 in 10 big Pharma companies have already started experimenting with Blockchain. When you use Blockchain, the data security of participants is ensured, which means that more people would be interested in participating in clinical trials by providing their data.

Companies like Medileger are already building industry-owned blockchains for the pharmaceutical sector.

Uganda is using Blockchain technology to track counterfeit drugs.

Conclusion
With the rapidly changing technology and business environments, it has become inevitable for the businesses to be on their toes. Thus, data securing becomes an important aspect, and including Blockchain technology is a must. It can be used in various industries and sectors right from the government to private. Blockchain will form a digital ledger that will be used in recording all the transactions in secured blocks.

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Blockchain

Various Audio Content Sharing Platforms On Blockchain

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blockchain based platforms
blockchain based audio content sharing platforms

The need to share content has now become common and there are several aspects associated with the same before deciding to share. One of the most vital aspects is the security of the content which cannot be compromised. With a view to ensuring complete security of the content sharing process, there are several blockchain-based platforms developed. If you are perplexed about blockchain then it is the contemporary technology that has laid a positive influence in almost all sectors. Since every business demands transparency in their business, the blockchain is a reliable answer for that.

To know more about blockchain, read this.

The blockchain platforms streamline the process of content sharing and also ensure comprehensive security. Whether you are an excellent listener of news or speeches, want to watch videos or read text, the decent blockchain-based platform will aptly fulfill these needs. The below section will introduce you to different content sharing platforms on blockchain:

1. Contentbox:

Contentbox is a blockchain infrastructure dedicated to the digital content industry. It seamlessly empowers a decentralized digital content ecosystem. The Contentbox is hyped because it is a global blockchain platform dedicated to the digital content industry; it records 17+ million users. The challenges prevalent in the present day content industry will be eliminated by Contentbox.  Some of the challenges like high cost transferred to consumers, no reward for content curation, and resort to pirating content are prevalent in this industry. With this platform, such challenges will not be faced.

The prominent reason to choose Contentbox is it facilitates a unified payout system, a shared content pool, as well as, a shared user pool. It supports BOX payout that adopts fast and secure blockchain technology to accomplish multi-party contingent payments. Contentbox supports BOX passport which is essentially a blockchain-based identity and attribution service over multiple applications. Through the BOX Unpack, this platform provides the turn-key solution for small as well as medium-sized partners to establish a content platform effortlessly. Since the platform is backed by 108 of the world’s leading crypto funds, Contentbox supports top growth token. It is alternatively referred to as a decentralized solution to surpass Netflix and YouTube pioneers.

2. REOS:

REOS is recognized as the world’s first blockchain-based cryptographic exchange specially dedicated for digital content. The existing problem in the content industry is that social media platforms regulate content delivery and receive a massive cut from the advertising revenue. Majority of the content creators are incapable to earn enough money which restricts the selection of high-quality content. In order to resolve this problem, REOS presents a decentralized content platform that boosts the earning for content creators via the tokenization of digital content.

This wonderful blockchain-based platform uniquely adds value to digital content. This is because it seamlessly supports content discovery & exposure. In its working, everybody interacts over a content piece by commenting and reviewing while the content promoter kicks off the content validation procedure. All the linked people will be benefited by receiving tokens. It is known that REOS supports the community-based content validation process and comes with an AI engine to decide the value and projected sales.

The working process of REOS is unique because the content is securely issued, distributed, and exchanged as tokens. The corresponding revenue could be produced with license, sponsorship, pay-per-view, and tipping. It is observed that the majority of the revenue goes into the pocket of the content creator. This platform will charge a small transaction fee and incentivize the content promoters.

One of the key benefits of using REOS is content validationThe content promoters curate content and execute the content validation procedure. The users assist to validate content by voting and get rewards in terms of REOS tokens. Moreover, the content promoters could be re-elected by users, guaranteeing a fair platform execute solely by its members. In this platform, every member has a great level of control over the privacy of their information.

3. PodMiners:

PodMiners is basically a blockchain-based digital radio for podcasting and broadcasting. The platform provides live broadcasting along with live calling and pre-recorded audio upload features. By integrating the blockchain, this platform will be more secure and transparent. Moreover, its operation is made user-friendly to serve an excellent experience never before. With this platform, you can create your own radio station and conveniently share your ideas and opinions. It is this platform that has the potential to discard the prevailing issues of the radio industry like advertisement frauds and fake reviews.

The platform targets to assimilate the advertisers model the following year. Through this, it will be streamlined for the advertisers and the content creators to earn money. From this platform, the participation of the third party is removed for the transactions and also micro-payments would be permitted.

It has strengthened the confidence of the content creators and even the person listening to the podcast will be capable to review the content. Earlier the fakeness was the largest concern severely influencing the online reputation of the content creators but the same will be eliminated by this platform.

4. Steem:

Steem is a social blockchain that empowers communities and opportunities. It assists to grow the communities and facilitate instant revenue streams possible for users by aptly rewarding them for the purpose of sharing content. Currently, Steem is the only blockchain that can power real applications. In its working, the intelligent bandwidth allocation allows free transactions and the transaction processing takes place every 3 seconds. It builds new token-based economic models that explore opportunities for people to fulfill their passions with success through cryptocurrency rewards.

Concluding Note:

While sharing the content of different types, these discussed platforms make sure the entire process is secure and efficient. These platforms are blockchain-based and they all have similar intention to benefit the content creators and advertisers uniquely.

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Why Are Blockchain Applications Important In 2019?

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block chain app

If we talk about blockchain app development, it is not that different than the basic web app development. And in this article, we will be focusing on showcasing you such things in detail, which also includes the process of blockchain app development.

A well-known subset of blockchain is Bitcoin, which is a cryptocurrency that has created quite a buzz in the mobile app development industry. Once the wave of bitcoin faded, Ethereum made its entry into the marketplace, which was known as the world’s first programmable blockchain.

With this, mobile app developers from all across the world finally had an amazing opportunity to design and develop mobile applications on top of the blockchain technology. This is one of the main reasons why learning blockchain development has become such a necessity nowadays and is also being counted as a top emerging skill in the field of app development.

This has further resulted in high demand for top-notch Blockchain app development companies as enterprises now want to get professional help in building their blockchain projects.

The past two to three years have also been known as the era of blockchain by many experts in the mobile app industry. But as per many statistics and reports, it has also been said that 2019 is going to be the most significant year in the decade-long history of this emerging technology.

Here are some of the key elements that you need to know about while learning Blockchain Technology, some of them are as follows:

  • Blockchain: The term blockchain can be defined as a chain of blocks where each block contains data or information without any central supervision. It is a technology that is cryptographically and highly secure as well as immutable.
  • Decentralized: It is one of the main properties of this emerging technology. Blockchain is said to be decentralized because there is no particular central authority supervising any transaction that is taking place in the blockchain.
  • Consensus Mechanism: This is a mechanism of blockchain by which a decentralized network comes to a consensus state at a certain point.
  • Miners: The users who basically use their computational power for the purpose of mining for blocks in a blockchain.

Here, our suggestion would be to get to know more about the above-mentioned terms that are widely being used in the field of blockchain technology. In addition to this, it is highly recommended that you go through other commonly used terms as well.

In regards to this, the difference in knowledge about blockchain technology is highly visible especially when you study some of these ICOs that are currently making themselves known in the market.

But if you are looking forward to becoming an expert level blockchain app developer then it is extremely crucial that you first learn the process. This is the part where the experience part comes into action as many mobile app developers tend to lack the on-hands experience in this emerging technology.

Our suggestion would be to get acquainted with the latest system and technologies as soon as possible. For instance, app developers have the option to go to Coinbase or any other exchange platform that the developer is comfortable using. Here, they also have to keep in mind other restrictions that vary on geolocation as well.

As it is quite a straightforward approach and there is no need to be buying coins in large quantities or bulks, then we would recommend simply using a basic online wallet that is available for blockchain in the market.

Last but not least, let’s take a look at another segment that is currently coming into the limelight due to the advantages it has to offer i.e. Smart Contract.

If we look at the definition of a smart contract in Wikipedia, it is basically defined as “a computer protocol intended to facilitate, verify, or enforce the negotiation or performance of a contract”.

The term smart contract was first proposed by American cryptographer Nick Szabo in the year 1996. Here, the cryptocurrency Ethereum is often known for popularizing the concept and making it mainstream.

In the end, we can say that anything that runs on the blockchain technology needs to be immutable while also having the ability to run through multiple nodes without any loss of integrity.

Read More: Blockchain Technology – A Major Player of the Tech Space

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Bitcoin Falls Under $4,000 as United States Oil Rises

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Market Visualization Courtesy of Coin360

Tuesday, March 26 — a lot of the high 20 cryptocurrencies are reporting slight losses on the day by press time, as Bitcoin (BTC) has fallen beneath $4,000 once more.

Market Visualization Courtesy of Coin360

Bitcoin is down over a p.c on the day, buying and selling at round $3,967, based on CoinMarketCap. its weekly chart, the present worth is over two p.c decrease than $4,060, the value at which Bitcoin began the week.

Bitcoin 7-day price chart

Bitcoin 7-day worth chart. Supply: CoinMarketCap

Just lately, crypto bull Tim Draper has given recommendation to the president of Argentina to legalize Bitcoin with the intention to enhance the financial scenario within the nation.

Ethereum (ETH) is holding onto its place as the biggest altcoin by market cap, which is at about $14.2 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $12.6 billion by press time.

ETH is down by about one p.c over the past 24 hours. At press time, ETH is buying and selling round $134, after having began the day at $135 and reporting a mid-day low of $133. On its weekly chart, Ethereum has seen its worth improve almost 4 and a half p.c.

Ethereum 7-day price chart

Ethereum 7-day worth chart. Supply: CoinMarketCap

As Cointelegraph reported yesterday, Ethereum co-founder Vitalik Buterin has argued that the crypto neighborhood ought to evolve past the individualism related to its early cypherpunk days, and harness know-how to create new, equitable and progressive methods with constructive social impression.

Second-largest altcoin Ripple has misplaced about one and a half p.c within the 24 hours to press time, and is at present buying and selling at round $0.301. Wanting on the coin’s weekly chart, its present worth is over 5 and a half p.c greater than $0.318, the value at which it began the week.

Ripple 7-day price chart

Ripple 7-day worth chart. Supply: CoinMarketCap

Among the many high 20 cryptocurrencies, the one ones reporting good points are Cardano (ADA), which is up over two p.c, and EOS (EOS), which is up about half a p.c.

The full market cap of all cryptocurrencies is at present equal to $137.4, which is over two p.c decrease than $140.Four billion, the worth it noticed one week in the past.

In conventional markets, the inventory market is seeing discreet development thus far right now, with the S&P 500 up 0.56 p.c and Nasdaq up 0.65 p.c. The CBOE Volatility Index (VIX), then again, has misplaced a stable 5.51 p.c on the day at press time.

Earlier right now, CNBC reported that United States Oil rose 2 p.c because the OPEC provide was minimize.

Main oil futures and indexes are displaying combined actions right now, with WTI Crude up 1.84 p.c, Brent Crude up 0.84 p.c and Mars US down 0.19 p.c. Opec Basket can be down by 1.64 p.c, and the Canadian Crude Index has seen its worth improve by 2.26 p.c, based on OilPrices.

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Bitcoin.com Is Giving Away 6 Tickets for the Anon Blockchain Summit in Austria

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Bitcoin.com Is Giving Away 6 Tickets for the Anon Blockchain Summit in Austria – BTC News Online

Bitcoin.com is giving you the chance to win one of six tickets to attend the Anon Blockchain Summit Austria 2019. Winners will be picked randomly and announced via social media channels on Friday.

6 Tickets Are up for Grabs

To take part, you need to visit Bitcoin.com’s giveaway page. Each winner will be sent a code that can be redeemed at the summit’s Eventbrite site. To do so, click “Enter Promotional Code” in the top right corner of the ticket box. Each code will provide one ticket.

a Rafflecopter giveaway
Bitcoin.com, which is a media partner of the conference, will also surprise guests and participants with giveaway packs that will contain cool prizes such as Bitcoin.com’s Golden Tickets.

The Anon Blockchain Summit will be held on April 2 – 3 in the Austrian capital, Vienna. Over 80 speakers have been invited to share their knowledge and views on how crypto-related technologies can change the world.

Conference to Welcome 1,500 attendees

The organizers expect Austrian and EU officials, representatives of 20 innovative projects from the industry, and more than 100 investors. Around 1,500 attendees will visit the Gösserhalle venue that will host the event.

Bitcoin.com Is Giving Away 6 Tickets for the Anon Blockchain Summit in Austria

The conference will focus on real life blockchain use cases and applications of the technology in areas such as business and government, banking and finance, energy, science, and healthcare.

Multiple workshops, an innovation challenge, and the Blockchain in Mobility Hackathon will provide numerous opportunities for startup teams to meet with renowned advisors and potential investors.

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