Cryptocurrency is trendy right now and my opinion is to be very attentive when investing in this industry. Cryptocurrency is used in every industry and here are some examples. Healthcare blockchain cases : Nano Vision—Looking to catapult medical innovation away from traditional data silos and incompatible records systems, Nano Vision combines the power of blockchain with artificial intelligence (AI) to gather molecular-level data on Nano Tokens. AI then sifts through the data to find trends and analyze connections that will lead to medical breakthroughs.
Entertainment blockchain examples : Guts—A transparent ticketing ecosystem that uses blockchain technology to eliminate ticket fraud and the secondary ticket market.
Medical centers that have digitized their patient records don’t distribute their data across multiple facilities, instead keeping them on-site on centralized servers. These are a prime target for hackers, as evidenced by the ransomware attacks that struck NHS hospitals in the UK. Even if security risks are overlooked, there is still the problem of fragmentation. There are currently more than 50 different electronic healthcare record (eHR) software systems that operate in different hospitals, often with dozens of different packages within the same city. These centralized systems do not interoperate with one other and patient data ends up scattered between disparate centers.|As a heavily industrialised nation, China’s environmental footprint is substantial. In March 2017, IBM launched the Hyperledger Fabric blockchain in conjunction with Energy-Blockchain Labs, as a means of tracking carbon assets in China. This creates a measurable and auditable system for tracking emissions, and facilitates a tradable market for companies seeking to offset their energy consumption whilst incentivizing greener industrial practises. Read extra info at Ethereum (ETH) Price.
Most people know that cryptocurrencies such as Bitcoin use blockchain technology, but what exactly is blockchain? If you imagine Bitcoin as a car, then blockchain would be the combustion engine; i.e. blockchain is the underlying technology that drives the system.
In terms of the advantages blockchain technology can offer within the travel industry, stability and security rank very highly. The decentralised nature of the blockchain means that information can never go ‘offline’ or be lost through accidental deletion or a malicious cyber attack, ensuring transactions are always traceable. If only time travel were possible then majority of people would wish to back in 2010 to buy bitcoins. A mere 10,000 rupees invested in bitcoins back then would have fetched you over mind boggling 330 crores by now! The world was stunned with such a phenomenal growth of bitcoins as a cryptocurrency. Keep reading this post as we will explain about bitcoin shortly. But how could such a currency grow stupendously on a global scale? The answer is Blockchain. Simple as it may sound there are huge mechanisms in place in making the technology work. The time spent by IBM global financing was reduced by 75% in solving financial disputes using Blockchain technology. Did you know that in international trade finance and remittances ICICI bank using Blockchain technology successfully executed transactions? Did you know SBI is using it in its KYC norms and smart projects? Did you know that Azure is already providing Blockchain as a service(BaaS)? And these are just three instances of the applications of Blockchain and the most obvious use case is bitcoin.
Here are some terms explained : Airdrop: A marketing campaign that distributes a specific cryptocurrency or token to an audience. It is usually initiated by the creator of a cryptocurrency in order to encourage use and build popularity of the coin or token. Most airdrop campaigns run with mechanics such as receiving coins or tokens in exchange for simple tasks like sharing news, referring friends, or downloading an app.
Byzantine Generals’ Problem: A situation where communication that requires consensus on a single strategy from all members within a group or party cannot be trusted or verified. An example of this agreement problem is where a group of generals, encircled around a city, must decide whether to attack or retreat. Every general must agree to attack or retreat, or everyone will be worse off. Some generals may be treacherous, voting falsely, and messengers may deliver false votes. Under these circumstances, a consensus must be reached. In cryptocurrency, when network participants post false or inaccurate information to others about transactions taking place, it could lead to network failure. *see Byzantine Fault Tolerance (BFT).
Distributed Ledger: Distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. A distributed ledger does not necessarily involve a cryptocurrency and may be permissioned and private.
And the latest crypto news : A G7 taskforce is being created to examine how central banks can regulate cryptocurrencies such as Facebook’s libra, Reuters reported on June 21. Although Paris has said it is not against Facebook creating a financial instrument, it vehemently opposes libra becoming a sovereign currency. Concerns have been raised over how to ensure cryptocurrencies comply with anti-money laundering laws, consumer protection rules and other regulatory matters. The G7 taskforce is going to be led by Benoit Coeure, who sits on the board of the European Central Bank. See extra details on live crypto news show