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As consumers, regulators, and other stakeholders demand to know the origin of products on the market, producers, distributors, and retailers struggle to provide it. In today’s global supply chain, goods pass through numerous intermediaries from origin to consumer, leaving data spread across multiple systems in different formats. Piecing together the full product journey to ascertain authenticity and safety can be difficult, if not altogether impossible. Sure, there are digital track-and-trace systems in place, but this information, too, is centrally held by a single stakeholder—and it can be costly to implement and maintain. Product visibility that supports the circular economy A significant set of blockchain use cases centers around the “circular economy.” Rather than using raw materials to make products, which are then consumed and thrown away, circular economic models, strive to reduce waste, reuse products and recycle materials. Major retailers, including Adidas, Neiman Marcus,...

The blockchain app development is the completely virtual mediator for the computer and many systems at a time. It represents a virtual connection between the systems to enhance security and making the exchange of data easier to make faster transactions. A database is a collection of information that is stored electronically on a computer system. Information, or data, in databases is typically structured in table format to allow for easier searching and filtering for specific information. What is the difference between someone using a spreadsheet to store information rather than a database? Blockchain seems complicated, and it definitely can be, but its core concept is really quite simple. A blockchain is a type of database. To be able to understand blockchain, it helps to first understand what a database actually is. Large databases achieve this by housing data on servers that are made of powerful computers. These servers can sometimes be built using hundreds or thousands of comp...

In the simplest terms, Blockchain can be described as a data structure that holds transactional records and while ensuring security, transparency, and decentralization. You can also think of it as a chain of records stored in the forms of blocks which are controlled by no single authority. What Is Blockchain and What Does it Look Like? Fundamentally, the blockchain is aptly named: it is a chain of blocks of data which at their most basic level (at least in most current implementations) can be conceptualized as something similar to the diagram below, which is based on the blockchain as famously implemented by Bitcoin. A database is a collection of information that is stored electronically on a computer system. Information, or data, in databases is typically structured in table format to allow for easier searching and filtering for specific information. What is the difference between someone using a spreadsheet to store information rather than a database? Spreadsheets are design...

Blockchain technology   provides a way for untrusted parties to agree on the state of a database, without using a middleman. By providing a ledger that nobody administers, a blockchain could provide specific financial services — like payments, or securitization — without using a middleman, like a bank.   French investment bank BNP Paribas has announced it will begin looking at how blockchain technology can be applied to its currency funds and for order processing.   Before looking at just how blockchain technology can disrupt traditional banking, it is worth taking note of some of the key institutions that have publicly announced interest in it (meanwhile, many other banks are doing so without informing the public).   With more people, businesses, and services now implementing blockchain technology and using cryptocurrencies, traditional banking systems are struggling to keep up with the change. In most cases, these banks will either have to implement and i...

The energy sector is changing. Deregulation and innovation have opened the energy market not only to competition between suppliers but also to businesses and homeowners to invest in their energy production and storage systems. Distributed assets, like solar panels, heat pumps, or even storage batteries have become readily available and are improving every year. This means users have more choice than ever to meet their energy needs: the result is that more and more assets are being connected to energy grids everywhere. This decentralization leads to increased operational complexity. Here comes Blockchain as a savior. Blockchain does more than connect renewable energy producers to end-users; it's enabling energy companies to settle futures trading considerably faster, and can even help energy companies improve how they track resources and maintain regulatory compliance.   The energy sector as it exists today can rightly be referred to as an efficient industry with growing ineffic...

Tokenomics   (token economics or crypto-economics) study the economic institutions and policies of the distribution, production, and distribution of goods and services that have been tokenized. Blockchain technology has become the driving force of innovation on the internet. In a market economy based on a division of labor, the role of money issued by governmental bodies is to facilitate the exchange of goods and services. There is a widespread misconception that Bitcoin and tokens that have derived from similar technologies are currencies comparable to fiat currencies like EUR, USD, etc. This post will point out why Bitcoin and other crypto tokens are not currencies in the traditional sense, but rather: A new asset class Bitcoin and other native Blockchain tokens that have derived from Bitcoin have more resemblance with commodity currencies of the past, rather than the state of the art fiat currencies. An operating system for a new type of economy that transcend the ge...

If you have been following banking, investing, or cryptocurrency over the last ten years, you may have heard the term “ blockchain ,” the record-keeping technology behind the Bitcoin network. Blockchain seems complicated, and it definitely can be, but its core concept is quite simple. A blockchain is a type of database. To be able to understand blockchain, it helps to first understand what a database is.  A database is a collection of information that is stored electronically on a computer system. Information, or data, in databases is typically structured in table format to allow for easier searching and filtering for specific information. What is the difference between someone using a spreadsheet to store information rather than a database? Spreadsheets are designed for one person, or a small group of people, to store and access limited amounts of information. In contrast, a database is designed to house significantly larger amounts of information that can be accessed, filte...

Blockchains   or distributed ledgers are an emerging technology that has drawn considerable interest from energy supply firms, startups, technology developers, financial institutions, national governments, and the academic community.  Numerous sources coming from these backgrounds identify blockchains as having the potential to bring significant benefits and innovation.  The energy sector as it exists today can rightly be referred to as an efficient industry with growing inefficiency problems. On the one hand, it’s almost astoundingly capable, at least in developed nations. Energy is produced and delivered to people so seamlessly that the average consumer doesn’t even give it much thought. It is in a sense, as one write-up put about the U.S. grid specifically, the largest machine in the world. On the other hand, despite its vast capability, the modern energy industry is also burdened by significant inefficiencies when it comes to evolution and democratization. And some ...

The convergence of consumer and industry concerns about the sustainability in the manufacturing and re-use of materials is spurring industries such as textiles, jewelry, and automotive to trace every step in the supply chain. With consumers increasingly asking for products that are produced ethically and sustainably, it’s a unique opportunity for blockchain firms to respond to this market dynamic. How blockchain underpins transparency and traceability There are already many technologies that are well-advanced and available in the market today—and have been available since the mid-90s—that play a role, for example, the ability to put a nano-tracer inside textiles. However, with IoT and AI, blockchain can drive more powerful applications to develop sustainable practices in the industry. Blockchain is powering battery industry sustainability practices One example is the battery industry, where Everledger is one of 42 global organizations that have agreed on guiding principles to...

Blockchain seems complicated, and it definitely can be, but its core concept is quite simple. A blockchain is a type of database. To be able to understand blockchain, it helps to first understand what a database is.  A database is a collection of information that is stored electronically on a computer system. Information, or data, in databases is typically structured in table format to allow for easier searching and filtering for specific information. What is the difference between someone using a spreadsheet to store information rather than a database? Spreadsheets are designed for one person, or a small group of people, to store and access limited amounts of information. In contrast, a database is designed to house significantly larger amounts of information that can be accessed, filtered, and manipulated quickly and easily by any number of users at once. Large databases achieve this by housing data on servers that are made of powerful computers. These servers can sometimes...

Blockchain   seems complicated, and it definitely can be, but its core concept is quite simple. A blockchain is a type of database. To be able to understand blockchain, it helps to first understand what a database is.  A database is a collection of information that is stored electronically on a computer system. Information, or data, in databases is typically structured in table format to allow for easier searching and filtering for specific information. What is the difference between someone using a spreadsheet to store information rather than a database? Spreadsheets are designed for one person, or a small group of people, to store and access limited amounts of information. In contrast, a database is designed to house significantly larger amounts of information that can be accessed, filtered, and manipulated quickly and easily by any number of users at once. Large databases achieve this by housing data on servers that are made of powerful computers. These servers can some...

A dApp has its backend code running on a decentralized peer-to-peer network. ... Contrast this with an app where the backend code is running on centralized servers. A dApp can have its frontend code written in any programming language that makes API calls to its backend. A dApp has its backend code running on a decentralized peer-to-peer network. Contrast this with an app where the backend code is running on centralized servers. A dApp can have its frontend code written in any programming language that makes API calls to its backend. Furthermore, its frontend can be hosted on decentralized storage such as IPFS. The Key Difference Between Traditional App Development and dApp Development The biggest difference between dApp development and traditional app development is the level of rigor by which code must be scrutinized before it’s pushed to production. dApp development is more like hardware development than software development in that respect. In hardware development, rigorous t...

Smart Contracts A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. While blockchain technology has come to be thought of primarily as the foundation for bitcoin​, it has evolved far beyond underpinning the virtual currency. Understanding tokens and smart contracts For example, an insurance company could use smart contracts to automate the release of claim money based on events such as large-scale floods, hurricanes, or droughts. Or, once a cargo shipment reaches a port of entry and IoT sensors ins...

As consumers, regulators, and other stakeholders demand to know the origin of products on the market, producers, distributors, and retailers struggle to provide it. In today’s global supply chain, goods pass through numerous intermediaries from origin to consumer, leaving data spread across multiple systems in different formats. Piecing together the full product journey to ascertain authenticity and safety can be difficult, if not altogether impossible. Sure, there are digital track-and-trace systems in place, but this information, too, is centrally held by a single stakeholder—and it can be costly to implement and maintain. Blockchain technology offers a solution to product tracing’s complexities by storing each leg of the journey on an immutable distributed ledger. With appropriate permissions in place, real-time visibility becomes systemic, enabling not only live track-and-trace but also numerous opportunities for increased efficiency. Product visibility that supports the circul...

Today’s consumers have become increasingly discriminating about the food products they consume. Consumers want to be certain they’re making healthy eating choices for themselves and their families. Regulators, for their part, are rightly concerned about the increasing incidence of product adulteration in the food supply and the time it takes to identify the source of outbreaks and respond effectively. What’s needed is trustworthy end-to-end transparency along the food supply chain, not only to authenticate the origin of products but also ensure that they are properly handled at every stage of the source-to-fork process.  The three Ts of food: supply chain security and authenticity There are three basic elements to any solution to the problems of maintaining a healthy food supply chain:  1.    Transparency:  Transparency helps foster trust that food origin and quality are what brands claim them to be and enables real-time collaboration among all partners, a...

  How Blockchain Help Solve Societal Problems Our world runs on data. Every transaction we make requires verification and is often performed by a centralized body. Such a system results in a power imbalance of approvers vs. the approved, thereby limiting participation and collaboration. When you look at the verification of any transaction, it generally involves a simple check based on the most recent data. For example, a money transfer from party A to B involves a check of the current account balance of A and the authentication that party A indeed wants to transfer the specified amount to party B. This type of transaction also involves identity verification of Party A and B. All these steps in the fund transfer can be automated with the help of a technology that provides secured democratization of data with the programmability of transaction logic. Blockchain is that technology. The sale of fraudulent goods, costly finance fees for transactions, and data breaches have the most ...

As consumers, regulators, and other stakeholders demand to know the origin of products on the market, producers, distributors, and retailers struggle to provide it. In today’s global supply chain, goods pass through numerous intermediaries from origin to consumer, leaving data spread across multiple systems in different formats. Piecing together the full product journey to ascertain authenticity and safety can be difficult, if not altogether impossible. Sure, there are digital track-and-trace systems in place, but this information, too, is centrally held by a single stakeholder—and it can be costly to implement and maintain. Blockchaintechnology offers a solution to product tracing’s complexities by storing each leg of the journey on an immutable distributed ledger. With appropriate permissions in place, real-time visibility becomes systemic, enabling not only live track-and-trace but also numerous opportunities for increased efficiency. Product visibility that supports the circul...