Is blockchain an impact technology
New technologies force companies to change, disrupt their entire business models, and inspire them to create new ones. Just think about the internet: while some companies were successful in tapping into its potential, others missed the opportunity. It brought about the decline of brick-and-mortar shops and traditional media companies, but gave birth to the biggest tech companies we know today. The next imminent question is, which technologies of the future will have a similar impact?
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- Blockchain: How to Develop Trust in Complex Surroundings to Generate Social Impact Value
- Beyond the Buzz: The Real Impact of Blockchain Technology on Real Estate
- Forget Bitcoin: Blockchain is the Future
- Blockchain Reaction
- How to reduce the environmental impact of the blockchain?
- Journal of Information and Communication Technologies
Blockchain: How to Develop Trust in Complex Surroundings to Generate Social Impact Value
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated. The Impact of Blockchain on the Music Industry. Sitonio, Camila Nucciarelli, Alberto. This paper explores the impact of blockchain on the music industry with a focus on the implications technology can have for artists. By investigating the industry's supply chain, we argue that the on-demand streaming platforms e.
Spotify and Apple Music have allowed consumers to easily access music products but have introduced a level of intermediation between artists and customers leading to inefficiency of the royalty payments systems. The goal of this research is to identify blockchain applications that would enable the disintermediation of the industry, allowing artists to create and capture more value from their own products.
This paper discusses some applications and concepts related to blockchain, including smart contracts, record keeping, revenue management, and metadata analysis.
By presenting some examples, we assess the current state of the technology's development in the music industry, how companies are introducing this new model into the market, and some limitations these models may have. Download Statistics.
Beyond the Buzz: The Real Impact of Blockchain Technology on Real Estate
We provide a deep understanding of how the adoption of this technology could lead to changes in Europe over multiple dimensions, ranging from business to culture and society, policy and regulation, economy, and technology. From the projections that reached a significant consensus and were given a high probability of occurrence by the experts, we derive four scenarios built around two main dimensions: the digitization of assets and the change in business models. This is an open access article distributed under the terms of the Creative Commons Attribution License , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. Competing interests: The authors have declared that no competing interests exist.
Forget Bitcoin: Blockchain is the Future
Try out PMC Labs and tell us what you think. Learn More. FinTech Financial Technology and Blockchain are prevalent topics among technology leaders in finance today. This article describes the impact and revolution of FinTech and Blockchain in the financial industry and demonstrates the main characteristics of such technology. Then, we present three critical challenges as well as three ethical issues about using Blockchain technology. Next, we discuss the development of Blockchain for the financial sector. In addition, we describe the real motivations for banks to explore Blockchain, and problems they face. In order to have a good understanding of the industry, a qualitative method was adopted, and sixteen experts were interviewed. It was identified that knowledge hiding in Blockchain was common and the rationale behind was analyzed using the TPB Theory of Planned Behavior approach. The analysis results suggested that knowledge hiding was due to affective, behavioral and cognitive evaluations.
Blockchain Reaction
France 24 is not responsible for the content of external websites. In this edition we explore how to reduce the carbon footprint of the blockchain, an underlying technology in which many cryptocurrencies are encrypted. The blockchain requires significant computing power and hence consumes a lot of energy, prompting a push to find ways to make it greener. NFT art combines a digital work of art with a unique, tamper-proof certificate encrypted in the blockchain. This is a revolution because it makes it possible for the first time in the digital world to distinguish an original version from its copies and to give it an ownership title.
How to reduce the environmental impact of the blockchain?
We are at a unique moment in history: our society is in transition from an industrial economy to one defined by a new set of technologies, ranging from digitalization to nanotechnology. Among the latest waves of digitalization is blockchain—a technology that many say promises to redefine trust, transparency and inclusion across the world. Blockchain, however, is a relatively immature technology and can create as many problems as it solves. What it has offered so far is a series of key insights into emerging technologies and how we can approach them in a rapidly changing world. We are now in a liminal period for digital technologies.
Journal of Information and Communication Technologies
As consumers are becoming more aware of the digital security threats they face every day, secure digital transaction technology has become increasingly important. As they request more control over their data and organizations look at easier ways to confirm it, blockchain technology may provide a vehicle that allows both parties to conduct secure transactions online. Blockchain helps to provide an added layer of security to digital transactions and limits some of the concerns of data privacy. Blockchain was developed to decentralize the confirmation of data and facilitate a digital transaction. Blockchain made its debut following a white paper developed by Satoshi Nakamoto, in which he referenced the now infamous Bitcoin cryptocurrency. Blockchain is an open, decentralized ledger that records transactions between two parties in a permanent way without needing third-party authentication, such as financial transactions or identity verification processes. The ability to facilitate transactions between two parties has shown itself useful to numerous applications, including finance, secure data, and identity verification.
In bestowing this status on the technology, Gartner predicted that blockchain is still five to 10 years away from going mainstream, writing:. That list is decidedly smaller, but the real-world applications of this technology that are being developed, tested, and — in some cases — rolled out to the marketplace will play a critical role in shaping the future of blockchain development and determining just how quickly the technology goes mainstream. But before any of that will really make sense, some baseline background on blockchain is required. In its simplest possible form, blockchain is a digital platform for recording and verifying transactions.
Blockchain, the underlying infrastructure behind cryptocurrencies, is likely among the most transformative technological innovations of our age, with promising use cases for many industries. In a nutshell, blockchain is an open and censorship-resistant database model, secured by encryption and decentralization. Blockchain records information in blocks on a shared ledger, storing a synchronized copy of it on all the systems participating in the network, hence assuring its immutability. Blockchain can be a game-changing technology for multiple sectors, especially for the supply chain industry.
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.
Few people understand what it is, but Wall Street banks, consultants, and celebrities are buzzing about blockchain technology. It's hard to remove blockchain from Bitcoin, so we'll start with Bitcoin as we work to understand this technology's potential. Download our free report to get all the trends.
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