Blockchain

Probably the most disruptive technology for the near future in which keeping the tempo (not resisting it) is a crucial task of every company and institution (think of the actual Banks for instance). What is blockchain? A block is simply a list of payments. A block chain is a list of blocks, each one referring back to the one that went before. However, when people talk about the block chain, they tend to mean the collection of technologies and techniques that underpin the Bitcoin system, which other projects have used as inspiration because they solve unrelated problems in finance and elsewhere.

Blockchain Applications

Cybersecurity: Guardtime, REMME

Healthcare: Gem, SimplyVital Health, MedRec

Financial: ABRA, Bank Hapoalim, Barclays, Maersk, Aeternity, Augur

Manufacturing: Provenance, Jicoin, Hijiro, SKUChain, Blockverify, Transactivgrid, STORJ.io

Government: Dubai blockchain powered state, Estonia, South Korea, Govcoin, Democracy.earth, Followmyvote.com

Charity: Bitgive

Retail: OpenBazaar, Loyyal, Blockpoint.io

Real Estate: Ubiquity

Transport and Tourism: IBM, Arcade City, La’Zooz, Webjet

Media: Kodak, Ujomusic, Bernard Marr

Blockchain powered with AI:┬áMirocana is a complex predicting system based on deep-learning neural nets that collect, store and analyze huge volumes of financial data. We created three investment products based on system’s predictions for stock, currency and crypto-currency markets. Access to these products is restricted by number of tokens on a customer’s account.

Smart Contracts

Smart contracts are contracts whose terms are recorded in a computer language instead of legal language. Smart contracts can be automatically executed by a computing system, such as a suitable distributed ledger system. The potential benefits of smart contracts include low contracting, enforcement, and compliance costs; consequently it becomes economically viable to form contracts over numerous low-value transactions. The potential risks include a reliance on the computing system that executes the contract. At this stage, the risks and benefits are largely theoretical because the technology of smart contracts is still in its infancy, and some time away from widespread deployment.