[email protected] I gotta say, looks really bad legally how Austin Hill's been negotiating deals w/ pools/etc. to get control of hashing power.
submitted by Nikcollet to Auxledger [link] [comments]
The media headlines today, broadly revolve around the volatility and hype of cryptocurrencies lead by Bitcoin and Ethereum. On the other hand, the growing entente cordiale among business leaders and entrepreneurs is hint enough on the potential applications of Blockchain Technology. This nascent technology is evolving at a robust pace and there is clear evidence that the revolution has begun.But first, what is Blockchain Technology?A new type of internet backbone was created when Blockchain Technology was introduced to the world in the form of Bitcoin. The key essence of Blockchain is that it allows digital information to be distributed but not copied or altered.According to Don & Alex Tapscott, authors of Blockchain Revolution (2016),“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Blockchain Technology can be leveraged by businesses around the globe as the spectrum of opportunities emcompasses a great breadth. Here are 5 ways blockchain is disrupting the way we do business.
1. Digital Distinctiveness
Security is a top concern for Businesses of all size and is estimated to cost the industry roughly $18.5 Billion annually. This means that in every three dollar spent by a company, one dollar goes to ad fraud.Blockchain technology offers a solution to many digital identity challenges, where identity can be uniquely authenticated in an immutable and irrefutable manner thereby offering enhanced digital security. Current methods deploy problematic password-based systems of shared secrets exchanged and stored on insecure platforms. Blockchain-based authentication systems are based on irrefutable identity verification using digital signatures based on public key cryptography.
“ ShoCard is using the blockchain to validate an individual’s identity on their mobile device.”
Accounting is a classic case-study for a business process that stands to benefit from blockchain adoption. The overwhelming complexities of codes and mathematical tools used by businesses increase the chance of human error to a great extent. Managing and communicating widespread business operations is an uphill task making audit work burdensome.
Blockchain technology may represent the next step for accounting: Instead of keeping separate records based on transaction receipts, companies can write their transactions directly into a joint register, creating an interlocking system of enduring accounting records. Since all entries are distributed and cryptographically sealed, falsifying or destroying them to conceal activity is practically impossible.Transparency and Immutability offered by blockchain adoption, reduces auditor’s workload thereby reducing the fraud to both system failures as well as human errors.Moreover, the large scams that break out due to negligent and corrupt auditors can be kept in check making the entire system trust-free.
“Auditchain is the world’s first decentralized accounting, audit and real time reporting ecosystem for enterprise and token statistics.”
3. Supply-Chain Management
How can you assure that the branded product delivered to you by an online retailer is authentic and not counterfeited?How many times have you resent the delivered product raising a quality complain?
How many times have you been delivered a wrong product/good due to technical error?
In the current system, we do not have a choice but have to trust the conventional process being followed by businesses to deliver their goods.Blockchain comes with the characteristics of Traceability and transparency which are essential foundations of logistics.
With the merger of IOT and smart ledger, i.e. blockchain, one can verify the product and you are no longer required to trust the process.
“Auxledger’s partnership with HPE aims to strengthen the widely used fault tolerance software - Mission Critical NonStop OS for Supply Chain Management.”
“Provenance and SkuChain are two other examples of companies attempting resolve this issue.”
4. Human Resources
Human Resources (HR) is the custodian of the most valuable asset an organization possesses – its People. The core component of enterprise management, Employees are the storehouse of confidential information, knowledge and whereabouts of the enterprise. Hence, nothing can substitute the discretion and importance of HR in the continuous development of a firm. The authenticity of human resource information assumes paramount importance in ensuring cost and efficiency of human resource management.Combination of Blockchain technology and human discretion will establish an HR information management model that addresses the risk concerning the authenticity of human resource information.
5. Capital Access
For an economy to expand, it is necessary for the businesses to perform well. Capital savvy businesses, face many hurdles in procuring capital to run its day to day operations. The loan requested against the unpaid accounts receivable is subjected to heavy scrutiny and is prone to malpractices by corrupt officials resulting in fraud. This raises a question on the integrity and trust of the entire system.
Auxledger, over any other blockchain companies, gives the most profound solution to cater the challenges mentioned above. Adding onto the core characteristics of blockchain i.e; transparency and trust-free environment,Auxledger further adds significant features which include Interoperability between different Financial Institutions negating fraudulent activities and Enhanced Transaction Speed compared to existing technologies available.You can read the details here.
You can refer to the Executive white paper here.
Though it is early days for blockchain adoption, the elite have already spotted its potential use cases.
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
"A chronological public ledger of all past transactions that is VERY difficult to tamper with."
'Alex Tapscott'（1986年生まれ）は、カナダ人のビジネス作家であり、諮問委員|アドバイザーです。彼の研究は、Blockchain（データベース）|ブロックチェーン技術とビットコインのような[cryptocurrencies]のアプリケーションを中心に展開しています。 Don Tapscott (01.06.1947) ist CEO des Blockchain Research Institute, einer der weltweit führenden Wirtschafts- und Wirtschaftsbehörden. Der Autor von 16 Büchern, darunter Wikinomics: Wie Massenkollaboration alles verändert, wurde in 25 Sprachen übersetzt. Tapscott is the author and co-author of sixteen books on the application of technology in business and society. His book "Wikinomics: How Mass Collaboration Changes Everything" (2006), co-authored with Anthony D. Williams, became an international bestseller, number one of the 2007 management book, and has been translated into 20 different languages. With his son, Alex Tapscott, he recently co-authored the book Blockhchain Revolution, How the Technology behind bitcoin is Changing Money, Business, and the [...] Jun 28, 2016 In an article special to the Globe and Mail, Alex Tapscott writes Bitcoin is the mother of all cryptocurrencies, and the most famous of them. Created by a person or people using the pseudonym Satoshi Nakamoto, it defined the algorithms that enable the transfer of...
[index]          
Alex Tapscot speaks about Bitcoin and Blockchain at Crypto Summit Zurich. ... Alex Tapscott: "Blockchain Revolution" at Crypto Summit - The Global State of Crypto Crypto Investigator. Alex Tapscott is a Canadian business author and co-authored, with his father Don Tapscott, the 2016 book Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business, and ... Alex Tapscott is the author of a popular book - blockchain revolution and the co-founder of the Blockchain Research Institute in Toronto. He is a strong evangelist of blockchain technology and is ... According to Don Tapscott and his son Alex Tapscott, the blockchain holds the potencial to create a more fair and prosperous economy and world, it represents the second generation of the internet. We talked to Alex Tapscott, the co-founder of Blockchain Research Institute and co-author of the book "Blockchain Revolution," about private and enterprise blockchains and the development of ...