Blockchain is the technology that underpins digital currencies such as Bitcoin. The technology allows digital information to be openly distributed and trusted. Imagine a Spreadsheet Ledger that is duplicated thousands of times across the internet and this network is designed to regularly update this spreadsheet, you will have a basic understanding of the blockchain.
The Ledgers can be appended to but not altered, any invalid ledgers are automatically removed. All users have an exact copy of a publicly verifiable ledger. A block is record of new transactions appended to the ledger. When a block is completed, it’s added to the chain.
Blockchain technology has proven to be a great invention since it was introduced about a decade ago. It has powered several innovations that will have a lasting impact on humanity. Some notable examples are Bitcoin, smart contracts and digital anonymous marketplaces. The possibilities of blockchain are only just beginning to be explored with many solutions focusing on parts of the supply chain and digital authenticity, the coming decade will be exciting for developers. Many aspects of business processes will be revolutionized by blockchain technology.
Some leading innovative use of blockchain technology includes:
Goeureka.io – Connect hotels to users directly
Blockchain technology can help you get the best hotel accommodation based on your specific needs, wherever you are in the world. GOeureka improves the experience by leveraging the blockchain through increasing the transparency and resolve the problem of hidden fees in the industry. An open marketplace that hotels connect to and users book directly at no commissions.
Zerocarbonproject.com-Tackling climate change using blockchain
Consumers can source energy from nuclear, renewable and fossil fuels. The carbon emissions in these sources of energy are compensated for by international carbon credits. Supporters of the Zero Carbon Platform can earn this token as a reward for their contribution to tackling climate change globally. It is believed that this reward will serve as an incentive to energy consumers to concentrate on using clean sources of energy and thus generally reduce global energy emissions.
Bitjob.io- the future of employment
The developers using blockchain hopes to connect 500 million students with global industry leaders to create new revenue channels, new jobs, and new business opportunities. By bridging the gap between potential employers and students, it will be easier for competent students to get their dream jobs without going through the rigors of the labour market.
Diana.io- Moon registration platform
A Blockchain project that is open to everyone to prevent the private ownership of the moon. Possibly a great idea on how to democratise ownership of an extra-terrestrial body, or the best business model ever – trading something you will most likely never get to utilise. This initiative aims to introduce equality when it comes to the possession of the Moon. The project’s white paper quotes the United Nations’ Outer Space Treaty, which notes: “Outer space, including the Moon and other celestial bodies, is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means.”
Whilst true, advanced countries, in terms of space exploration, are already considering using the moon as a mining and space travel base. This undermines developing nations, as they do not have the resources to compete for the moon’s ownership. The project aims to solve this problem by registering its participants on the blockchain, to develop a basis for the equal possession of the moon. The platform aims to subdivide the moon’s surface into 3.8 billion pieces.
Theoretically, these future blockchain projects have the potential to change the world. The success of the projects would depend on the steps they take in the long run. The blockchain start-up market is quite saturated with many competing projects. There will likely be many failures, mergers and acquisitions ahead. Many of these new projects have good ideas but lack business experience, there is an abundance of funding available for “blockchain” projects.
Start-up’s will need to demonstrate a market and develop products for those market’s whilst keeping their operations lean and agile. One thing is for sure the disruption and innovation will continue.
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Related News Articles:
Blockchain Technology is Disrupting the Travel Industry as We Know It-CNN-April 2018
bitJob’s Social Mining™ Revolution-Medium-Nov 2018
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