Blockchain Bonanza

Blockchain Bonanza

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Blockchain Bonanza - Idea Blog

 

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Blockchain Bonanza

 

Moving towards a more decentralized and permission-less world

 

(02.03.2018 – Idea Blog)

 

 

Blockchain technology for uses other than cryptocurrencies are gaining ground. From supply chains to lending platforms in capital markets.

 

Use of cryptocurrencies is also increasing. And as more businesses use blockchain we will probably see more corporate cryptocurrencies, or cryptotokens, such as Kodakcoin.

 

Each country has its own approach to cryptocurrencies – whether to regulate or not and, if so, how. Currently, it’s more a wait and watch approach.

 

When you attend fintech or blockchain events, the discussion is about different types of blockchain such as public, private and consortium and trying to get different blockchains to communicate with each other. The discussion also leads to whether blockchain is suitable for a particular business or business model and whether computing and energy resources should be used to ‘blockchain’ a particular business.

 

We are moving towards a more decentralized and permission-less world – Bitcoin and other cryptocurrencies (like Ripple, Ethereum etc.), being based on blockchain, a decentralized, distributed ledger system, that doesn’t (yet) require a third party’s permission (like a bank) to be transferred.

 

 

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