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The company does not own any real estate or conduct tours; it is a broker that receives percentage service fees in conjunction with every booking. Subutai disrupts, decentralizes, and commoditizes Cloud Computing and the Internet of Things IoT , allowing users to easily participate in a cryptocurrency sharing economy through energy-efficient cryptocurrency mining and renting of idle computing resources on the edge. Subutai originated as a multi-million dollar advanced defense research contract for a new P2P Cloud computing platform that could reconfigure itself dynamically and securely across the Internet. In , after the client allowed the core technology to be open sourced, OptDyn was founded to bring Subutai to the world.
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Blockchain Techologies For the Energy Access Sector
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See our User Agreement and Privacy Policy. See our Privacy Policy and User Agreement for details. Create your free account to read unlimited documents. Here's our foundational view on what the financial services industry needs to consider as organizations move from ideation to experimentation to pilot deployments of blockchain. The SlideShare family just got bigger. Home Explore Login Signup. Successfully reported this slideshow.
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WordPress Shortcode. Share Email. Top clipped slide. Download Now Download Download to read offline. Cognizant Follow. Digital Currencies: Where to from here? Distributed ledger technology: beyond block chain. Distributed Ledger Technology. A Strategist's Guide to Blockchain. Digital Disruption of the Insurance sector. Blockchain final v1. Blockchain technology and applications from a financial perspective.
Related Books Free with a 30 day trial from Scribd. Related Audiobooks Free with a 30 day trial from Scribd. Outstanding Leadership Stan Toler. Blockchain in Banking: A Measured Approach 1. Yet the story of blockchain is one of unintended conse- quences. Blockchain, also known as a distributed ledger technology,1 was originally created as a tracking database for Bitcoin transactions.
It was developed in to enable individuals and organizations to process transactions without the need for a central bank or other intermediary, using complex algorithms and consensus to verify transactions. Fast-forward seven years, and an array of startups and established technology, banking and finance players today are betting on blockchain to pro- vide a reliable alternative to systems that depend on intermediaries and third-party validation of transactions.
The disruptive potential of blockchain is widely claimed to equal that of the early commercial Internet. A crucial difference, however, is that while the Internet enables the exchange of data, blockchain could enable the exchange of value; that is, it could enable users to carry out trade and commerce across the globe without the need for payment processors, custodians and settlement and reconciliation entities.
Although blockchain is posited as an open system for transaction processing across the financial system, banks are looking inward, experimenting with the distributed ledger approach to create efficiencies and a single version of digital truth. Their goal is to automate processes, reduce data storage costs, minimize data duplication and enhance data security. Similar to the Internet and e-commerce, an open- to-all blockchain that disrupts the traditional financial market might only result from trial-and- error deployments within limited parameters, whether through internal trials or partnerships between incumbents and startups.
However, to realize the full potential of blockchain across the financial system, the banking industry will need to come together and set standards that enable interoperability. That said, banks planning to deploy blockchains need to answer a series of fundamental questions.
For example, given that existing systems are built on reliable legacy solutions, how will they deter- mine which process to move to a blockchain?
While banks and regulators have largely remained wary of Bit- coin, the underlying technology of blockchain and distributed ledger began attracting the attention of banks and startups by the end of The lure of blockchain was its method of verifying and tracking transactions. Instead of a trusted third-party or a central bank, it relies on consensus among a peer-to-peer network of computers based on complex algorithms.
Rather than being stored in a single database, blocks of time-stamped transactions are stored on all systems across a value chain see Figure 1, next page.
This elimination of middlemen and 3. Because it elimi- nates errors and duplication, blockchain is ideal for transforming a host of digital processes. Data stored on blockchain thus acts as a single version of truth for all parties involved, reducing the risk of fraud. Data stored on blockchain acts as a single version of truth for all parties involved, reducing the risk of fraud. Anatomy of a Typical Blockchain Transaction Here's a step-by-step breakdown of how a transaction between two parties occurs algorithmically via distributed ledger technology.
The code of the transaction is sent to a large network, where it is confirmed without compromising private information and eliminating the need for a central authority.
Once a transaction is confirmed and validated by several parties, it exists on the ledger of each as a permanent and immutable record of the transaction. The transaction information is recorded, and the transaction is completed. This, in turn, reduces the compliance burden and cuts regulatory costs in areas such as know your customer KYC initiatives.
Increased Competition Blockchain can also enable entry into markets that have traditionally been dominated by banks and other financial institutions. In the modern digital era, banks have seen an increase in compe- tition from non-banking players in areas such as mobile payments and lending; blockchain is likely to intensify such competition, as it will reduce technological barriers for digitally savvy non- banking entrants.
Such a service is offered by Setl,4 which has created a permission-based ledger system that can move cash and assets in real-time to settle market transactions. This could allow non-profit entities to compete with banks.
Since such lenders would have lower oper- ational costs than traditional banks, they could charge lower interest rates. For banks, this should be a signal to up their game in these areas, perhaps by creating their own versions of these platforms on a blockchain, as non-traditional players, equipped with technology and free of regulatory compliance requirements, could make quick inroads into their traditional strongholds. New Banking Vistas Blockchain is also expected to create a new set of opportunities for banks to partner with startups exploring niche business areas see Figure 2, next page.
The system can save time spent on reconciliation after every transaction, helping with straight-through processing. A Rush of Startups and Incumbents The attractiveness of blockchain and the result- ing applications can best be gauged by the kind of attention it garners from startups and incum- bents alike, especially in banking and finance.
A prominent example is the consortium formed by blockchain startup R3, which has so far attracted 42 inter- national banks and financial institutions. R3 has created a shared laboratory setting to bring blockchain technology to the financial system.
It recently connected 11 partner banks to a peer- to-peer distributed ledger9 and has put in place industry standards and protocols for blockchain in banking; it will also develop commercial appli- cations for banks and financial institutions. Areas of focus for banks and startups include cross-border payments, trading activities, custody services and customer behavior analysis.
Barclays is reportedly focusing on 45 internal use case experiments, while Citibank has created its own version of Bitcoin, called Citicoin. This inherent capabil- ity is alluring to finance and banking decision- makers, who believe its disruptive power is good for their industry. Decentralized Trade Settlement Trade settlement processes currently require two to three days for payments and securities to change hands.
This need not be limited to equities and debt instruments, but can also be extended to complex instruments, such as derivatives. Decentralized Trade Finance Trade finance is an important focus area for banks when it comes to applying blockchain technology. Document Signing and Records Management Decentralizing document verification would allow companies to execute the latest docu- ments and verify their authenticity.
Distributed Identity A decentralized identity management platform would reduce the stress on the current central- ized approach to storing customer information. By storing data in blocks and using a tamper- proof hash format, banks can improve the secu- rity of the stored identity, improve portability of data and reduce the time taken for KYC efforts.
Changes incurred by blockchain, such as storing data in multiple locations rather than one central location, repre- sent a radical shift in the way banks operate. This in itself could be a major hurdle to overcome in terms of organizational culture. Nevertheless, given its disruptive potential, banks would be ill- advised not to begin taking steps toward incor- porating blockchain into their existing systems. What follows are a subset of the key initial steps banks should consider when implementing a blockchain platform alongside existing systems.
The key question to ask before starting a trial is which processes to move to blockchain. This can be tricky. Blockchain is essentially a shared database, and banks have commonly relied on database management technologies to store and control access to data.
Creating a working group that explores the pros and cons of moving a process to blockchain would be an ideal place to start. Taking the perspective of key stakeholders and partners impacted by the move is critical.
Not all ideas will have the potential to reach this stage, but once a proof-of-concept PoC application is ready, it needs to be tested against real-world simu- lations to identify areas of improvement. By measuring the results against expectations, banks will be able to refine the application and use this knowledge for future application development. External factors such as regulations play an important role in the block- chain era.
The current regulatory framework has no provisions for accommodating a tech- nology that could eliminate intermediaries. Storing customer data on computers in different countries will also require banks com- pliance with data privacy laws that may vary from one country to another.
Similarly, there is no framework of regulations to make smart contracts work in the capital markets as they exist today. In a smart or self-executing contract, transactions and a set of specified terms and conditions must be validated by a peer-to-peer network of computers in order for the terms of the contract to be executed.
Smart contracts eliminate the need for a third party or counterparty, thereby reducing costs and time, as well as the risk of fraud and forgery.
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Peter Griffin Follow. Yes, the PowerDollar is yet another digital currency, but PowerFinance plans to use it to let any business embed finance into their product offerings. But what if your builder, real estate agent or car dealer could arrange the financing as well and integrate it seamlessly into the customer experience? But there are plenty of industries where customers are on their own when it comes to lining up a loan. PowerFinance aims to take the hassle out of obtaining finance with a platform that lets companies offer loans as part of their own service.
PL^Gnet Announces Ottó Blockchain Pre-Mine Staking Program
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2009 Articles - Page 131
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Blockchain
The Zebpay crypto platform has recently announced that it is going to be exploring wider crypto market opportunities which would include assets such as digital collectables. The exchange has decided to spread its wings into the nonfungible token game which comes after the launch of a new marketplace known as Dazzle. Furthermore, NF tokens are different to cryptocurrencies because they can cover unique metadata. This means they can vary in their level of rarity. The platform is seemingly looking to plug blockchain engagement outside of cryptocurrency among the 5 million active crypto investors in India.
Bachaco at Jazid February 23
Blockchain technology reduces transaction costs: recording every transaction, it can be identified on the public record by all parties of the transaction. Therefore, also in the energy sector, blockchain technology has the potential to play a significant and potentially game-changing role:. It also records the provenance of renewable electricity generated, with clear details of source type, time, location and CO2 emissions. This provides a universal dashboard tracking the energy consumption of the world. Moves to achieve universal energy access for all in Africa cannot be superficial. The commitment to electrification success should be strengthened with the mutually-beneficial collaboration of public and private entities. Successful collaboration between these players will come from shared interests, openness in investments, and the use of innovative solutions; and there should be active participation of citizens too. In many regions in Africa, many solar panel projects are often left unfunded.
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Reset Close. Learning how to get to quick innovation and production via Smart Industry Fieldlab with professional 3D Printing, Highend 3D Scanning, blockchain solutios, internet of things and smart systems. The comprehensive provision of green skills is a key priority of 3LoE. Addressing the challenges of energy, climate and environmental protection, 3LoE establishes Centres of Vocational Excellence on green economy and implements a wide range of vocational. It bases its training strategy of excellence in 3 pillars of i. Boudewijn is Katapults internationalisation specialist, bringing schools and companies together in Centers of Vocational Excellence.
Miami's independent source of local news and culture. Laurie Charles February 21, AM. Named after the leafcutter ant, an insect that's used to make salsa picante, this Afro-Caribbean reggae band recently released its debut album. And already, the crew is working on a new record. The Bachaco guys are also planning another U. So we sat down and spoke with them about the Miami music scene, local trends, and making it in the industry.
Blockchain is often touted as the key to improving trust and transparency across industries and moving towards more equitable and collaborative systems. But could it also be the key to a circular economy? To explore the potential for blockchain to support and accelerate circular supply chains, Circle Economy and Circle Lab hosted a series of Twitter chats on June 12, 13, and 14, where they invited people around the world to join the discussion online, share their insights, and explore what problems currently hindering circular supply chains the technology could help solve.
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