Impact blockchain

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Impact blockchain

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Content:

• Could Blockchain Have as Great an Impact as the Internet?
• The impact of blockchain technology on business models – a taxonomy and archetypal patterns
• The Future of Finance 2 : The Impact of Blockchain
• Eight Ways Blockchain Will Impact The World Beyond Cryptocurrency
• Build a custom email digest by following topics, people, and firms published on JD Supra.
• 4 Ways Blockchain Could Impact Our Lives
• Blockchain and its potential impact on the audit profession
• How to reduce the environmental impact of the blockchain?
• Blockchain

WATCH RELATED VIDEO: The Explainer: The Truth About Blockchain

Could Blockchain Have as Great an Impact as the Internet?

Blockchain has become a buzzword in the FinTech realm as financial institutions scramble to find practical ways to implement and leverage the technology for profit. As the underpinning technology for cryptocurrencies, most people associate blockchain with crypto and assume that it only applies to finance. But the potential applications of blockchain technology reach far beyond finance and crypto, and it promises to take the world by storm in ways we never saw coming.

Here are seven ways that blockchain technology promises to impact our everyday lives in the coming decade, mostly for the better. The rapid rise of technology has by far surpassed the capacity of regulators to keep up, resulting in products and platforms that invade our privacy and threaten our rights to free speech.

Blockchain promises to disrupt invasive social platforms that censor our content and mine and sell our personal data, by providing secure and private decentralized social networks that put the user in control. Decentralized social platforms underpinned by blockchain allow for end-to-end encryption of every interaction, providing personal privacy and individual control over user information.

By contrast, mainstream social media platforms exploit user information and behavior for profit, turning users into commodities to be sold to the highest bidders. Blockchain SM users can permanently save their published content without fear of having it deleted. Here are a few blockchain-based social platforms to explore:.

A blockchain is essentially a massive digital ledger that records financial transactions. It can also be used to securely keep important and valuable records, protecting them from alteration, theft or abuse. Property deeds, birth and death certificates, financial transactions, insurance records, legal disputes and other sensitive documents can be safely recorded in encrypted code and stored on the blockchain.

Patient privacy is a key concern in healthcare, and HIPAA compliance is critical for healthcare providers. The privacy and security provided by blockchain technology holds promise for a broad spectrum of healthcare processes, including:. Travel is often fraught with inconveniences, from long lines to lost luggage. Numerous startups are already disrupting the travel and hospitality industry with blockchain solutions that dramatically reduce booking errors, securely store frequent traveler information, and more.

In addition, blockchain solutions cut out the middleman in booking transactions. Popular booking platforms often offer discounted rates for travel, car rental and hospitality. However, entrusting your sensitive data to intermediaries makes it vulnerable to identity theft and abuse. In the coming decade, be prepared for sweeping changes in the travel industry that significantly reduce stress, increase security and elevate the enjoyment of travel on a global scale. Voter fraud has become a growing concern as ballot machines made by independent foreign entities have proven to be both hackable and unreliable.

With blockchain, voter identities and political preferences are protected from public view. A single protected ID for every vote makes tampering impossible, and votes on the blockchain can be accurately tallied by election officials without concerns for duplicate voting or fraudulent identity.

And in the US Presidential election, Independent candidate and entrepreneur Brock Pierce received the very first vote using a blockchain application. In addition to dramatically reducing the risk of voter fraud, blockchain could have an immense influence on our democratic processes. From high-tech patents to fashion and entertainment, blockchain tools are being used to deter the theft and fraud of intellectual and creative properties, and to establish proof of ownership.

Blockchain use cases for IP include:. Most large data breaches succeed by gaining access through stolen user identifiers. User IDs and passwords are notoriously vulnerable to theft and hacking, and password security is becoming increasingly complex as users create new accounts and conduct transactions online.

For many users, logging into websites with multi-layered protection becomes a hassle that causes them to steer clear of certain ecommerce sites. Blockchain-based identity authentication solutions wrest control of identities away from online entities and government agencies, and place it in the hands of self-sovereign individuals. They enable users to safeguard secure IDs without sharing them with third-party entities, empowering individuals with autonomy over their unique identifiers.

In addition, blockchain-protected access enables enterprises to safely share and store data without risk of data breaches and fraud. Companies can enable restricted access tiers for cloud data according to the security clearance of individual employees, reducing the risk of data breaches.

And blockchain encrypted identifiers can protect data from hackers as it transits from the cloud to the personal computers of remote workers.

It is human nature to resist change, especially when it disrupts long-established ways of doing things. There will no doubt be many industries and individuals tapping the brakes on blockchain development, but its adoption on a grand scale is inevitable. With any new technology comes the potential for abuse, and rather than trying to fight blockchain innovations, we should safeguard against their misuse for nefarious purposes that do not serve humanity.

Blockchain has enormous potential for improving our lives in the near and distant future. We should embrace this promising technology and mindfully steer its course, to harness it for the greater good..

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Please save your work. Business Trends Sergey Grybniak. March 23, 4 minute read. Decentralized Social Platforms The rapid rise of technology has by far surpassed the capacity of regulators to keep up, resulting in products and platforms that invade our privacy and threaten our rights to free speech. Here are a few blockchain-based social platforms to explore: Minds All.

Immutable Digital Records A blockchain is essentially a massive digital ledger that records financial transactions. Travel and Hospitality Travel is often fraught with inconveniences, from long lines to lost luggage. Voting and Public Policy Voter fraud has become a growing concern as ballot machines made by independent foreign entities have proven to be both hackable and unreliable. Intellectual property From high-tech patents to fashion and entertainment, blockchain tools are being used to deter the theft and fraud of intellectual and creative properties, and to establish proof of ownership.

Blockchain use cases for IP include: Authentication of provenance Registration Distribution tracking Evidence of first use in trade or commerce Digital rights management Enforcement of IP rights via smart contracts Real-time payment transmission authentication Detection of counterfeit goods Retrieval of stolen goods 7.

Self-Sovereign Digital Identity Most large data breaches succeed by gaining access through stolen user identifiers. Moving into the Future with Blockchain Technology It is human nature to resist change, especially when it disrupts long-established ways of doing things.

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The impact of blockchain technology on business models – a taxonomy and archetypal patterns

Journal of Shipping and Trade volume 7 , Article number: 2 Cite this article. Metrics details. Decision-making is a prolific research area in the internet era, which has propelled globalization and the virtual elimination of many country border barriers. However, effective decision-making in the shipping industry is a time consuming and often complicated process.

The Future of Finance 2 : The Impact of Blockchain

Blockchain promises to solve this problem. The technology behind bitcoin, blockchain is an open, distributed ledger that records transactions safely, permanently, and very efficiently. For instance, while the transfer of a share of stock can now take up to a week, with blockchain it could happen in seconds. Blockchain could slash the cost of transactions and eliminate intermediaries like lawyers and bankers, and that could transform the economy. In this article the authors describe the path that blockchain is likely to follow and explain how firms should think about investments in it. The level of complexity—technological, regulatory, and social—will be unprecedented. Contracts, transactions, and the records of them are among the defining structures in our economic, legal, and political systems.

Eight Ways Blockchain Will Impact The World Beyond Cryptocurrency

While blockchain is widely associated with Bitcoin and other cryptocurrencies, blockchain technology is set to revolutionize how the HR and recruitment functions operate within business. Blockchain , the decentralized distributed database, is being trialled and implemented by numerous companies across multiple industries on a global scale. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer. Recruitment takes up a lot of time and resources within the HR department, so much so that organizations turn to third party agencies or recruiters to claim back the time. But as those methods usually come with a hefty fee, it can be quite counterproductive.

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Blockchain, the technology behind the popular Bitcoin cryptocurrency, has been around for over a decade. But what exactly does it do? And how can it change our day-to-day lives? We've pulled together some of the ways blockchain might make a difference. Without getting bogged down in technicalities, blockchain is an extremely sophisticated database. It is difficult to hack because it's not stored in a single location.

4 Ways Blockchain Could Impact Our Lives

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Blockchain and its potential impact on the audit profession

Blockchain has become a buzzword in the FinTech realm as financial institutions scramble to find practical ways to implement and leverage the technology for profit. As the underpinning technology for cryptocurrencies, most people associate blockchain with crypto and assume that it only applies to finance. But the potential applications of blockchain technology reach far beyond finance and crypto, and it promises to take the world by storm in ways we never saw coming.

How to reduce the environmental impact of the blockchain?

RELATED VIDEO: The Impact of Blockchain Technology on Finance

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Blockchain

Trials volume 18 , Article number: Cite this article. Metrics details. Reproducibility, data sharing, personal data privacy concerns and patient enrolment in clinical trials are huge medical challenges for contemporary clinical research. A new technology, Blockchain, may be a key to addressing these challenges and should draw the attention of the whole clinical research community. Blockchain brings the Internet to its definitive decentralisation goal. Therefore, users have a high degree of control over and autonomy and trust of the data and its integrity. Blockchain allows for reaching a substantial level of historicity and inviolability of data for the whole document flow in a clinical trial.

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