:: The 4th Era ::

BLOCKCHAIN, in many ways, appears to signify the dawn of a new era as it relates to the way we store and exchange value. In fact, it can be considered one of the biggest technology breakthroughs in recent history, similar to the advent of the Internet in the early 1990s. At that time, the Internet provided a new and more sophisticated way to search and share information, a way that was much more efficient and transparent.

Today, blockchain presents a similar value proposition and provides a way to transact in a secure, immutable, transparent, and auditable way. However, the understanding of the technology varies widely in terms of its potential and applicability. Through this primer, we aim to demystify blockchain and share our assessment of the current and future landscape, key drivers and impediments, potential applications, and considerations for companies.

Via David Hain, Jim Lerman

The Canadian government is continuing their experiments with blockchain to see how the new technology can further help the country. The federal government announced that it will pioneer the testing of the Known Traveller Digital Identity system, a new concept that helps to improve the security and flow of travellers across borders. This new program uses biometrics, cryptography and distributed ledger technology to give travellers more control over how and when they share their information with authorities. This can lead to expedited clearance and build more trust and transparency between travellers and authorities as they look to improve risk detection.

Via Farid Mheir

The blockchain is a revolution with endless applications. Let’s get ready for it!

 

Learn more / En savoir plus / Mehr erfahren:

 

http://www.scoop.it/t/luxembourg-europe/?tag=Blockchain

 

http://www.scoop.it/t/luxembourg-europe/?tag=Bitcoin

 

Via Gust MEES, Greg Webb, Stephania Savva, Ph.D

This article serves as a briefing on how various industries can strategically utilize emerging technologies in and around the world today. This is not an exhaustive list, but rather an introduction…

Via Farid Mheir

Blockchain is often touted as a world-changing technology and in many ways, it is. However, it isn’t necessarily the cure-all panacea for the world’s problems that many evangelists would have you believe.

Here’s a breakdown of some of the issues with blockchain that anyone thinking of using it should understand. Starting with perhaps the biggest…

Blockchain has an environmental cost

At least, the way it is being used today, it does. Blockchain relies on encryption to provide its security as well as establish consensus over a distributed network. This essentially means that, in order to “prove” that a user has permission to write to the chain, complex algorithms must be run, which in turn require large amounts of computing power. Of course, this comes at a cost. Taking the most widely known and used blockchain as an example – Bitcoin – last year it was claimed that the computing power required to keep the network running consumes as much energy as was used by 159 of the world’s nations.

Yes, Bitcoin’s blockchain is a hugely valuable network – with a current market capacity at the time of writing of over $170 billion – so sophisticated and computationally intense security is essential. Smaller scale blockchains – such as those that an organization may deploy internally to securely monitor and record business activity – would consume a fraction of that. Nevertheless, it’s an important consideration and the environmental implications as well as the energy costs can’t be ignored.

Lack of regulation creates a risky environment

 

Read more in the article...

 

Learn more / En savoir plus / Mehr erfahren:

 

https://www.scoop.it/t/21st-century-learning-and-teaching/?&tag=blockchain

 

Via Gust MEES