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ownweb-website-blog · 7 years ago

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Cryptassist- Knowledge is Power

New Post has been published on http://ownweb.website/cryptassist-knowledge-is-power/

Cryptassist- Knowledge is Power

Cryptassist(CTA)

Information website, whitepaper, bitcointalk bounty, ann thread

tokens 74,750,000 CTA 1 CTA= 0.38 USD

terms 31.07.2018- 12.09.2018

Rating 3.9

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Intro:

The Cryptassist ecosystem was designed to make the cryptocurrency world easy for everyone, whether they are crypto experts or novices. We strongly believe that cryptocurrencies need to be useful in everyday life. Cryptassist will benefit everyone by providing them with all of their crypto tools on one easy to use platform, saving them valuable time and unnecessary extra effort. This variety of tools and services will send personalized notifications to users who have unique profiles, objectives or investment strategies. Users will be able to use their CTA to access these tools and notifications.

One of the main problems in the cryptosphere is that over time, cryptocurrency has become more and more difficult for novices and even experts to understand and is not yet widely usable as a currency on a daily basis. Cryptassist solves the problem of complexity by supplying all of the necessary resources in one easy to access location. Our mission is to supply everyone with access to the crypto-world through an array of 25 essential tools and features. The Cryptassist application will include features such as a multi-coin block explorer, news and trading alerts, a over-the-counter marketplace to auction coins, a fully licensed exchange, a debit card, a crowdfunding platform, ChatPay, Philanthropy Innovation to donate crypto and fiat to non-profit organizations, a map including places to spend your coins, a webshop, a platform to link businesses and freelancers, an AR game and many more.

Cryptassist believe that cryptocurrencies should be useful in everyday life.With 25 apps and features, there is something for everyone, from the absolute novice to the most experienced trader, simplifying the way crypto is used. With one login on either your web or mobile device, you are able to access everything you need. From a fun game, CryptoGo where you can win real crypto, trade on Cryptassist’s own fully licensed spot exchange, shop with your own debit card that can be refilled using any of the top 50 cryptocurrencies, through to a webshop, news updates, every tool a trader needs, forums and much, much more.

Cryptassist Global Vision:

The Cryptassist coin (CTA) will run on a blistering fast DAG algorithm and also have a deflationary model where CTA used for premium alerts and services are burned, meaning less CTA potentially increasing the value of the remaining CTA.

What is Cryptassist? What does it do?

Cryptassist is a one stop destination for all your cryptocurrency related information. Whether you are a beginner or an established crypto expert,Cryptassist will provide you with the required tools and information for you to succeed.

Cryptassist coins (CTA) are a decentralized utility coin running on its own proprietary blockchain. CTA can be put on a debit card and used for daily shopping needs and used for services on the Cryptassist platform. Some of CTA used for these services will be burned, creating a deflationary effect and potentially increasing the value of CTA over time.

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Token Economics Token Name: CTA Token form: DAG Type: S-Scrypt Total token supply: 88,000,000 CTA 74,750,000 CTA (for-sale) Hard cap: 23,625,000 USD Soft cap: Is Already Guaranteed Contribution mode: 100+ Currencies+ Fiat Token Price: 0.38 $ Min. Investment: 50 USD Country: Estonia Restricted Country: Singapore, USA

Pre-ICO Start Date: NO End Date: Bonus:

ICO Start Date: 31/07/2018 End Date: 12/09/2018 Bonus: 20% 4% (Referral)

Fund Utilization

Command

TEAM

Roadmap

Bounty Champiagn

Period: 31.07.2018- 12.09.2018

The Pool Bounty: 25,000,000 CTA

Token Price: 1 CTA= 0.38 USD

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#Cryptassist ICO #ICO Bounty #ICO Review

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ownweb-website-blog · 7 years ago

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INGOT- Wallet with a Digital Bank

New Post has been published on http://ownweb.website/ingot-wallet-with-a-digital-bank/

INGOT- Wallet with a Digital Bank

Ingot Coin

Information website, whitepaper, bitcointalk bounty, ann thread

tokens 120,000,000 IC 1 IC= 1 USD

terms 01.05.2018- 11.08.2018

Rating 4.0

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about company

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about company

Problem:

Present day financial services mainly consist of financing,investment management & advisory, trading and insurance. When it comes to trading and financing, the current financial system lacks in efficiency and transparency. The market entry complications that are facing investors and the service fees that they are charged are quite substantial, which is why some of these investors get discouraged from actively participating in the current market. Additionally, smaller investors get overlooked in favor of bigger and wealthier investors and thus, combined with the lack of trust in the markets that increased.

The crypto and the traditional financial markets are quite segregated for a participant attempting to cross over or move their capital from one market to the other. The segregation is a result of large transaction costs, time and money.These costs sometimes lead to the eradication of profits, and in some cases lead to losses,which restricts investors from participating in the market.Further more,Market participants are always searching for ways to diversify their funds, along with re balancing them to reach an ideal allocation of assets that fits their risk appetite. Given the lack of connection between crypto and the traditional markets,participants are either unable to move funds between different markets in a reasonable time span or are restricted by the costs associated to do so.

Time is of extremely high value for people who engage in trading or seek financing.Unfortunately,due to having a highly centralized data processing structure in the financial world, a great deal of time will be lost, leading to loss in lead and edge.

The difficulty of transferring current holdings to the crypto markets in terms of diversification, liquidity, bias to price discrimination and lack of consistently available market services,has deemed the exponentially growing market unreliable to prospective participants and in turn limiting them from entering. Moreover,the lack of knowledge in the market about blockchain, smart contracts and the variety of possible useful implications,have caused the participants to turn down profitable investment opportunities.

Solution:

INGOT Coin will create a complete solution by integrating 6 core ecosystem components and providing a one stop shop for the digital asset, traditional asset and cu ency markets to solve all the above mentioned challenges, thus, creating a link between the crypto market and the traditional market. The IC Ecosystem will establish 6 different components to work hand in hand under one umbrella, providing all community members the chance to capitalize on upcoming opportunities in all markets. The Ecosystem’s components, as shown below, are the IC Wallet, IC Exchange, IC Brokerage, IC Digital Bank, IC Certifier and IC ICO Accelerator.

What is INGOT Coin? What does it do?

INGOT Coin is the first fully integrated Wallet with a Digital Bank, Brokerage, Exchange, Certifier, and ICO Accelerator. All components are rolled into a single and complete ecosystem, which rewards token holders and consumers for using and contributing to it. INGOT Coin is a decentralized cryptocurrency which provides benefits and discounts within the ecosystem itself. IC will be based on a ERC20 technology.

INGOT Coin (IC) aims to integrate the traditional financial industry with the blockchain innovation by offering a complete Ecosystem that provides crypto holders the access to all financial services. The Ecosystem will be the pioneer in linking the crypto universe to the current traditional world. The IC Ecosystem includes: IC Wallet, IC Digital Bank, IC Brokerage, IC Exchange, IC ICO Accelerator and IC Crypto Certifier all under one umbrella linked by the IC Community. IC Digital Bank will provide 24/7 automated payment processing with high-level web-based custodial services managing the IC Brokerage and IC Exchange duties along with day-to-day online services such as e-payments, current accounts and saving accounts handled by debit cards. IC Digital Bank will provide fund management for all interested stakeholders.

The IC Ecosystem will transform trades, settlements and payments and make them instant, bringing together different necessary components and cutting out third party intermediaries who usually delay the process and increase associated costs.

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Token Economics Token Name: IC Token form: ERC20 Total token supply: 120,000,000 IC Hard cap: 90,000,000 USD Soft cap: 37,000,000 USD Contribution mode: ETH, BTC, XRP, FIAT, USD Token Price: 1 USD($) Country: Estonia Restricted Country: USA

Pre-ICO Start Date: 01/05/2018 End Date: 30/06/2018 Bonus: 35%

ICO Start Date: 01/07/2018 End Date: 11/08/2018 Bonus: 25-35% (depending on cap)

Token Allocation

Fund Utilization

Command

TEAM

Iman Mutlaq

Founder – INGOT Coin

Ali Shibib

CEO

Ali Faqih

CFO

Saif El Din Murad

Marketing Manager

Rashed Alkhzaie

ICO Strategist

Zeid Madbak

CRO

ADVISORS

Roadmap

Bounty Champiagn

Period: 01.05.2018- 11.08.2018

The Pool Bounty: 6,000,000 IC

Token Price: 1 IC= 1 USD

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#ICO Bounty #ICO Review #INGOT ICO

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ownweb-website-blog · 7 years ago

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BTC

New Post has been published on http://ownweb.website/btc/

BTC

[table id=3 /]

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ownweb-website-blog · 7 years ago

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Darico: Monitor. Trade. Invest. Spend

New Post has been published on http://ownweb.website/darico-monitor-trade-invest-spend/

Darico: Monitor. Trade. Invest. Spend

Darico

Information website, whitepaper, bitcointalk bounty, ann thread

tokens 120,000,000 DEC Min.- 100 USD

terms 30.11.2017- 30.07.2018

Rating 4.2

about company

details ICO

Command

Roadmap

Bounty Champiagn

about company

Problem:

The sheer volume of cryptocurrencies, wallets, exchanges and other products and services aimed at helping people manage their crypto holdings is actually having the opposite effect. In fact, it has led to confusion and leaves people feeling overwhelmed and unsure where best to turn for reliable information, effective and secure wallets as well as good value, speedy exchanges.

Darico -the place to turn: What is required is a single solution that gives people all the tools they need to monitor, trade, invest and spend their crypto holdings, exactly what the Darico Ecosystem is designed to provide.

We will become the number one trusted source of cryptocurrency tools through our easy to use and comprehensive platform. By making cryptocurrencies easier to understand and the market easier to navigate we will increase people’s confidence and drive up the rate of cryptocurrency adoption.

To achieve this, it’s vital that people are not only able to invest and trade but that they are able to use their crypto holdings for everyday transactions, which is why the Darico Debit Card is such an important part of the Ecosystem. This link to the everyday will be crucial in helping cryptocurrencies become a genuine substitute for the fiat currencies we are so used to. As the pace of progress accelerates, so do the risks associated with cryptocurrencies. None are guaranteed winners but all holders want to know that, at the very least, they have the best information and tools available to them before they make their decisions. The Darico Ecosystem will give crypto investors those tools, all available in one place.

Solution:

The Darico Ecosystem will enable crypto investors to thrive by providing them with access to trusted sources of information and to all of the tools they need to make informed investment decisions and to integrate cryptocurrencies into their everyday lives.

Darico Wallet: A secure, 2FA multi-coin (ERC20, BTC and more) wallet suitable for all crypto investors will be the first Ecosystem product to be launched and will also include the integration of a Debit Card. The Darico Wallet will be available at www.darico.io/wallet from mid March 2018. It will be subscription based for DEC holders and there will be mobile and desktop versions of the Darico Wallet available.

Darico Terminal: A subscription-based hub for crypto investment information, news and analysis. Darico’s vision is to become the crypto world’s version of Bloomberg or Reuters, providing the accurate, trusted and timely information investors need to make informed investment decisions.

Darico Debitcard: Bringing liquidity to cryptocurrency investment, the Debit Card will be linked with the Darico Wallet to enable the use of DEC and other cryptocurrencies for everyday transactions.

Derico Exchange: A regulated cryptocurrency exchange to be set up in Gibraltar where it will apply for a licence to operate as a Distributed Ledger Technology (DLT) Provider.

What is Derico? What does it do?

Darico Ecosystem Coin is a utility token that’s been designed specifically to empower people by providing them with professional and user-friendly investment tools that enable holders to monitor, trade, invest and spend cryptocurrencies with confidence. Holders of Darico Coin will receive exclusive access to the entire Darico ecosystem, including the wallet, terminal, liquidity pool, Index Fund, debit card and exchange.

All Darico Coins are purportedly backed with 35% solid gold held in custodial vaults. The remaining percentage of the coin is backed by 55% bitcoin and 10% either. The end result is that you enjoy the high growth potential of cryptocurrencies like Bitcoin and Ethereum while also getting the stability of gold.

You manage your Darico tokens through the Darico wallet. The company also claims to be working on an app. The entire platform is built on the Ethereum blockchain. All funds purchased by the company will be kept in reputable, cold storage, third-party vaults located in Switzerland.

What’s the advantage of purchasing Darico tokens from the company instead of just purchasing these assets yourself? I’m not totally sure. The Darico whitepaper mentions several features that may be implemented in the future – including smart contract-based mortgages.

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Token Economics Token Name: DEC Token form: ERC20 Total token supply: 1200,000,000 EMI 72,000,000 (for-sale) Hard cap: 36,000,000 USD Min Investment: 100 USD Contribution mode: ETH, BTC Token Price: Pre-Sale- 0.5 $ ICO- 1 $ Country: Gibraltar Restricted Country: Switzerland

Pre-ICO Start Date: 30/11/2017 End Date: 30/12/2017 Bonus: No Bonus

ICO Start Date: 30/01/2018 End Date: 30/07/2018 Bonus: March 15th- 21th 25% Bonus April 01th- 30th 20% Bonus May 01th- 21th 15% Bonus May 22th- June 11th 10% Bonus June 12th- July 02th 5% Bonus July 03th- 31th no bonus

Token Allocation

Fund Utilization

Command

ADVISER

David Drake Investment and Commercial Advisor

Simon Cocking Marketing and Strategy Advisor

Jason Hung Cryptocurrency and Strategy Advisor

Marc X. Ellul Legal Advisor

Mr. Obaid Saeed Bin Manana Investment and commerical advisor

Professor Nabil Baydoun PhD, FCPA, MSc, BSc, CFE, CICA Financial advisor

Nat Kwabena Anokye-Adisi Business Development Adviser (Africa)

TEAM

Mojtaba Asadian Founder & CEO

Liwaa Chehayeb CBO

Kirsten Morel Content Manager

Luke Szkudlarek CMO

Roadmap

Bounty Champiagn

Period: 30.11.2018- 30.07.2018

The Pool Bounty: 1,000,000 DEC

Token Price: 1 DEC= 1.0 USD

Youtube Twitter Telegram Blog/Article Medium Facebook Reddit

30% 20% 10% 15% 5% 10% 10%

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#Bitcointalk Bounty #Darico ICO #ICO Bounty #ICO Riview

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ownweb-website-blog · 7 years ago

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What is Blockchain? The Complete Guide to Blockchain Technology

New Post has been published on http://ownweb.website/what-is-blockchain-the-complete-guide-to-blockchain-technology/

What is Blockchain? The Complete Guide to Blockchain Technology

Since Bitcoin was created in 2009, the world has gone crazy for cryptocurrencies. In fact, there are now more than 1,500 different coins available to buy, sell and trade! However, the most important thing to come from all of this so far is the technology that underlies it — blockchain technology. So, what is blockchain?

If you would like to find out what is blockchain in a simplified format, you’ve come to the right place! Although the technology is quite complex, I am going to use real-world examples and as simple vocabulary as possible so that you understand it from top to bottom!

My “What is blockchain tutorial” is going to start by explaining what the technology does and how it works, followed by a discussion on its advantages over traditional systems. I am also going to give you some examples of how it can be used (and is being used) in everyday life.

So what are you waiting for, let’s begin by understanding what blockchain technology actually is!

What is Blockchain Technology?

In its simplest form, the blockchain is the technology that allows people to send and receive cryptocurrencies such as Bitcoin. However, it is far more than just a payments system. When Satoshi Nakamoto created the world’s first ever cryptocurrency (Bitcoin), he also created an amazing protocol known as the blockchain.

The most interesting part to the blockchain is that no single person or authority has control over it. Instead, transactions are verified and confirmed by the online community, which makes it decentralized! The protocol has lots and lots of benefits such as transparency, speed and security, which I will explain in more detail later on.

The actual idea of blockchain technology is not only linked to financial transactions, as it has the potential to be applied to just about any industry!

As the blockchain is decentralized, everybody has access to the same data (unless it is a private blockchain used by companies). That means that as soon as a transaction is processed and confirmed, it appears on the blockchain for all to see.

This is very similar to a real-world accounting ledger, where the company accountant can view every transaction that has ever occurred, along with account balances. However, as blockchains such as Bitcoin and Ethereum are public, anyone can view the transactional data.

There is so much to talk about when trying to understand the correct blockchain definition, so I thought it would be best to break everything down. The next part of my “What is Blockchain” guide is going to talk about why it is called blockchain!

Blockchain Definition: Why is it Called Blockchain?

Although there are now many different versions of the blockchain definition, they all work in very similar ways. The easiest way to explain what it does is to split the word blockchain in to two – block and chain!

Think about a real-world container that carries lots of boxes from destination A to destination B. In the world of cryptocurrency, the container is the “block” and each box that is on the container is an individual transaction.

“Container” = Block

“Boxes” = Transactions

“The container carries lots of boxes” = The Block Carries Lots of Transactions

I know this might sound complex, but stay with me as it is all about to make sense! So, in the example of the blockchain Bitcoin uses, it takes a total of 10 minutes for one block of transactions to be confirmed on the network.

Like in a real-world container, there is only a certain amount of transactions that the block can carry, which is determined by the maximum block size. Every blockchain has its own maximum block size, which is normally the amount of data (megabytes) it can hold.

Bitcoin is able to hold 1MB worth of data in each block, while others, such as Bitcoin Cash, have a block size limit of 8MB.

The larger the block size limit, the more transactions it can hold. So now you know what a block is, what about the chain?

To make things really easy for you, I am going to stick with the example of a container carrying boxes! Let’s imagine that the container has reached its first destination. That means the block has been confirmed and it is now available on the public ledger for all to see.

However, the container is ready to depart for its next destination. Every new or old box (transactions) that the container (block) carries will also be available to view on the public blockchain. This is the same for every single transaction. As soon as it is confirmed, the transaction data is clear for everybody to see, which is why it is called a “chain” of transactions!

So now that you understand where the blockchain definition comes from, the next part of my “What is blockchain” guide is to explain how transactions are confirmed!

How are Transactions Confirmed on the Blockchain?

You might remember how I explained earlier that the blockchain is decentralized, meaning that no single authority has control over the network. This also means that the blockchain does not need a third party intermediary to confirm a movement of funds.

If that’s the case, how are transactions confirmed? This is where things get really interesting!

The blockchain is a community based platform, meaning that in most cases, anybody can contribute to the network to help verify transactions. They do so by contributing their computational power, which in return, is able to support the network.

Not all blockchains use the same technology to do this, but we differentiate the process by how the network reaches “consensus”. Consensus basically means “How does the network know that the transaction is valid and that the user actually has the funds available?”

Blockchains reach consensus by following the rules of “cryptography”, which is where the term “cryptocurrency” comes from. Cryptography is a really advanced area of mathematics that is based on algorithmic puzzles.

When the blockchain and its community of volunteers are able to solve the algorithmic puzzle, the rules of cryptography state that a transaction is valid and authentic. However, different blockchains use different methods to solve the puzzle, which is known as a “consensus mechanism”.

Confused? Don’t be, as my “What is blockchain” guide is now going to give you an example!

The blockchain Bitcoin uses is supported by a consensus mechanism called ��Proof-of-Work” (PoW). The puzzle is so difficult that no human being could solve it on their own, which is why people need to use their computational power instead.

Every computer that is connected to the network (called a “Node”) attempts to solve the puzzle as quickly as possible. Whoever solves the puzzle first, gets a reward – free, new Bitcoin. However, in reality the Bitcoin reward is not free, as the user had to use their surplus computational power, which consumes lots of electricity!

PoW is just one example of how a blockchain reaches consensus. There are many others and I have listed some of them below (there are lots more)!

PoS (Proof of Stake)

DPoS (Delegated Proof of Stake)

PBFT (Practical Byzantine Fault Tolerance)

DAG (Directed Acyclic Graph)

Are you still asking yourself “What is blockchain”? I hope not! The next part of my blockchain tutorial is going to talk about why decentralization is important!

The Importance of Decentralization

As you now know, the blockchain protocol is able to confirm a transaction without a third party and no single authority has control over the network. This is why it is decentralized. But why is this important?

Firstly, decentralization is very secure. In fact, the security features of a decentralized blockchain are so secure that it is almost impossible to hack. Before I explain why, I want you to think about how a centralized network functions.

Let’s take a look at an organization like Yahoo. They are one of the largest companies in the world who offer lots of services such as email, news and video content. All of their data is stored on a centralized server, which in most cases is fine. But what happens if the centralized server fails?

This is exactly what happened in 2016, when a group of hackers managed to gain control of the Yahoo servers, which then allowed them to access more than 3 billion private email accounts.

This isn’t a one-time incident either. Whether its social media, banks, internet service providers or the U.S. election, centralized servers are hacked all the time. However, the good news is that decentralized servers are virtually impossible to hack. Here’s why!

Do you remember how my “What is Blockchain” guide explained that to confirm a transaction, lots and lots of people contribute their computational power? These “Nodes” not only help verify a movement of funds, but they also keep the network secure. This is because more than half of the nodes on the entire network would need to be hacked at the same time for something bad to happen!

Even if this was possible (which it isn’t, really), the hacker would only be able to make changes to the blockchain for 1 block, which in the case of Bitcoin, would be about 10 minutes!

Decentralization isn’t only important for security, but for equality, too. Everyone who engages with the blockchain has the ability to contribute to the system. Furthermore, as each and every transaction is available to view on the public ledger, it makes the network transparent. No corruption, no fraud and no inequality!

Now that you know why decentralization is important, the next part of my What is Blockchain tutorial is going to look at how anonymous the blockchain is!

How Anonymous is the Blockchain?

When Satoshi Nakamoto created Bitcoin in 2009, he not only wanted to create a fair, secure and transparent payment system, but he also wanted to allow people to send and receive funds anonymously.

Think about how you spend your money in everyday life. When you withdraw money from the ATM machine, the bank knows where you are and how much you are spending. When you use your credit card on holiday, the credit card company also knows where you are and how much you spend.

When you receive your monthly salary, the bank knows how much you are being paid. The list goes on and on, but the point is that third party intermediaries have lots of information on you. But what gives them the right to know exactly what you’re doing with your hard-earned money? Nothing does! They shouldn’t know.

This is where blockchain technology is different. When you obtain a cryptocurrency, you store it in a digital wallet. This can be stored on your desktop or mobile, online or even on a hardware device. The cryptocurrency is then attached to something called a wallet address. You can have as many wallet address as you want, but no two can ever be the same.

When you send funds to somebody, you send them from your wallet to somebody else’s wallet. Here is what a blockchain Bitcoin transaction would look like.

Wallet “1BoatSLRHtKNngkdXEeobR76b53LETtpyT” Sent “2 BTC” to Wallet “1CfaunqrVpcXmpLheUVWeSP1KPsKDha1Nb”

On Friday 18th May 2018 at 15.37.

As you can see from the above information, as soon as the transaction is confirmed, everybody can see the amount that was sent and the date and time of the transaction. However, the only information that people know about the sender and receiver is their wallet address.

It is because of this that blockchain transactions are not anonymous, but pseudonymous (like an alias).

However, this is just like spending cash in the physical world. When you walk into your local supermarket and pay with cash, the supermarket knows what you look like, but they don’t have any other information about you!

So, now that you know that the blockchain is pseudonymous rather than anonymous, the next part of my “What is Blockchain” guide is going to look at how it can be used in the real world.

How Can Blockchain Be Used in the Real World?

In reality, blockchain technology could be used in practically every industry or sector. By replacing centralized servers with that of a decentralized blockchain, individuals, companies and even governments could benefit from all of the advantages that the blockchain offers, such as security, transparency and speed!

I am afraid I can’t go through every single industry that the blockchain could be used for, so I will list five of my favorites!

Cross-Border Payments

The cross-border payments industry is a multi-trillion dollar business, with banks needing to send international payments on a daily basis. The majority of this is handled by a third party called SWIFT, who are based in Belgium. SWIFT were set up in the early 1970s to make international payments easier, however the system is slow, expensive and inefficient.

This is because banks are not able to transact with each other directly. Instead, they have to use SWIFT and in some cases, additional correspondent banks. However, by using blockchain technology, banks would be able to do business on a peer-to-peer basis.

This means that there is no third-party intermediary sitting in between the two organizations. Transactions would no longer take days, nor would they cost lots of money! The Ripple blockchain was designed exactly for this purpose and they already have more than 100 different banks testing out their protocol!

Elections

How many times do we hear about election fraud? Whether it is the centralized network of the U.S. election being hacked (allegedly!) or governments who threaten their citizens with violence if they don’t vote for them? Unfortunately, this happens all the time, but blockchain technology could solve the problem!

Firstly, as every single transaction that has ever occurred is available to view on the public ledger, it would be impossible for a political party to change or remove votes. Remember, the blockchain is not only for financial transactions, as it can process anything that is considered data!

The blockchain would also be perfect for elections as transactions are pseudonymous, meaning that nobody would know the real-world identity of the voter. Instead, a citizen’s identity could be linked to a private key that only the individual user has access to. This would ensure that the citizen can only vote once!

Supply Chain

Supply chain is how goods move from their point of origin to their final destination. An example of this is an orange juice drink. The supply chain starts at the location where the orange was grown, it might travel to a factory to be turned into juice, then it might travel to the warehouse, and finally, to the supermarket.

At the moment, it is very difficult to trace each individual stage of the journey, as each part of the supply chain uses their own centralized systems. However, by using blockchain technology, the entire supply chain process could be available for all to see.

This would be a lot more efficient, transparent and secure than using centralized servers, as everything could be put on to the same network. Furthermore, the network would never go down and it is fraudproof!

Gambling

The online gambling industry is worth billions of dollars each and every year. Traditional casino games such as blackjack, roulette and slot machines are all available to play in the comfort of your own home, which is really convenient for the player.

However, as online casinos normally keep their gameplay data behind closed doors on their centralized server, there is never any guarantee that the casino is truly playing fair.

By using blockchain technology, gaming outcomes can be independently verified on the public ledger, meaning that the system and data would be completely transparent. This could also be used for national lotteries, too!

Insurance

The insurance industry covers practically everything on Planet Earth. Whether it’s your home, car, pet, health, holiday or phone — if it has value, it can be insured!

The problem is that the industry is dominated by third-party intermediaries, which means that taking out a policy is expensive and when it comes to making a claim, it’s a very slow process. However, the blockchain protocol would allow somebody to get insured without needing a third party.

For example, if somebody wanted to insure their flight, as soon as the plane actually takes off, the outcome could be settled automatically. Either the plane takes off on time and you lose your insurance payment, or the plane is late and you receive a payout!

This could all be done in a transparent, fast and secure eco-system, such as the blockchain!

What is Blockchain? – Conclusion

That’s the end of my “What is Blockchain” guide! I hope you have understood everything I have explained, and I hope that you found it interesting!

I know the concept sounds really complex at first, but I am hoping that the real-world examples I gave made things simple for you!

So, if you read my blockchain tutorial from start to finish, you should now know what the blockchain is and how it works. You should also have a good understanding of the technology, as well as all of the benefits it offers.

What is your favorite thing about the blockchain? I think it’s amazing how nobody controls it and that instead, control is distributed across the online community!

I have also spoken about five key industries that would benefit from blockchain technology. Do you agree with me, or can you think of some better ones? Whatever your opinion is, let me know in the comments section below! I just hope you aren’t still wondering what is blockchain!

#Blockchain #blockchain technology

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