Blockchain What Is The Point?
The Blockchain is literally transforming every industry in the world and slowly changing the way we connect with each other. The Blockchain is so resourceful and secure that it is being implemented to replace so many companies current/outdated infrastructures that it is almost safe to say that all companies alike will make the switch.
The Blockchain Technology itself is growing at a faster rate than Crypto currency, but is contributing majorly to the success of it's predecessor. What is good for Blockchain is in turn really good for Crypto, or should I say Bitcoin and other cryptos?
Bitcoin opened the path for Blockchain Technologies to be developed. The Technology being developed is kind of unthinkable just a decade ago. Ethereum has done a lot to drive attention to programing on top of the Blockchain. IBM and Microsoft alike have given a ton of support to Blockchain Technologies.
Here in the US we can but certain ECigs and some companies have such a hard time with knock offs that they use Blockchain Technology to track inventory down to the end user. The user can go to a site and verify whether the ECIG is actually from the manufacture the box says on it.
I have heard of people being killed by harmful ECIG's so this technology if it were to be a requirement for all manufactures to use could potentially save lives and guarantee authenticity. The responsibility would still fall on the end user to go to the website and verify every purchase before using the product.
The Blockchain would fix all of the issues with the current election process in the United States as well as the world. I could talk Blockchain for years and still not be done covering all of the current advancements.
Covid-19?
What could the Blockchain possibly do for Covid-19? Right?? Come on now! The Blockchain can be used to make almost every process such as the distribution and tracking of the Covid-19 Vaccinations easier and more secure.
IBM and Bill Gate's has already spoken out publicly in regards to using the Blockchain as a means of tracking the distribution of Covid-19 Vaccination shots. Both with rather compelling reasons.
I agree that it is very difficult to falsify the Blockchain. With such high demand comes a flood of counterfeiters whom will be making knock off versions of these Vaccines and distributing them as well. These could be life threatening, no body knows for sure.
With such high demand we will also have an issue of people stealing the Vaccinations. I am not sure how the Blockchain would safe guard against this. I get how the Blockchain would allow for individuals to authenticate genuine drugs, as well as the means of tracking and distribution.
Economies World-Wide!
This is another personal favorite aspect that I haven't ever seen any reports based upon yet. What will the Blockchain do for economies through out the World? We haven't really stopped to think this one through fully.
With new Technology comes new Certifications, Government Licensing, Maintenance, Programmers, Facilities, Human Resources, Equipment and foreseen aspects. The Blockchain sector within this decade will grow to employee a great deal of the population at an ever growing rate.
Companies will design more Blockchains and they will always need people whom have a higher level of understanding. They will always need a sales force in order to acquire new business, They will need customer service agents to support clients with general issues.
I am sure you are starting to see that the Blockchain is opening the pathways to millions of jobs World wide. The amount of Freelance work the Blockchain has already created alone is just insane. Did I mention that the Blockchain is expanding and growing daily,
The Blockchain will also allow for more people World wide to start their own crypto currencies or Blockchain products building Sunami of new Companies that will revolutionize the way our technology is developed until that next big thing finally hits the market. My personal opinion that the next big thing other than the Blockchain will be Quantum Laptops...it'll happen.
Health Care Industry:
2016 M. Mettler, "Blockchain technology in healthcare: The revolution starts here," 2016 IEEE 18th International Conference on e-Health Networking, Applications and Services (Healthcom), Munich, 2016, pp. 1-3, doi: 10.1109/HealthCom.2016.7749510.Abstract: Blockchain technology has shown its considerable adaptability in recent years as a variety of market sectors sought ways of incorporating its abilities into their operations. While so far most of the focus has been on the financial services industry, several projects in other service related areas such as healthcare show this is beginning to change. Numerous starting points for Blockchain technology in the healthcare industry are the focus of this report. With examples for public healthcare management, user-oriented medical research and drug counterfeiting in the pharmaceutical sector, this report aims to illustrate possible influences, goals and potentials connected to this disruptive technology.
SHIPCHAIN: ShipChain, decentralized platforms for shipping and logistics.
Ambrosus: Ambrosusus Inc. IoT Network For Food and Pharmaceutical Enterprises.
Chronicled: Supply-chain provenance. Asset Tracking. Enterprise Solutions. Is working with Pfizer, Gilead and Bayer.
OriginTrail: Kaydex Pte. Ltd. Data integrity and validation in inter-organizational environments.
EXIMCHAIN: inventory, finance and sourcing protocol.
Modum: Monitoring through IoT Sensors.
Everledger: platform for asset provenance and supply chains.
Morpheus Network: transparent and efficient platform streaming and automating the global supply chain.
Cargo X: smart bill of lading solutions
Cargocoin: trade, transport and logistics platform.
Sectech: supply chain transaction network for SME's
300cubits: shipment booking ecosystem.
Now I will give a lot of undue credit to Bill Gate's himself. His Blockchain solution will help save thousands of lives especially during a pandemic such as Covid-19. During this pandemic we all saw first hand that industries world wide needed a new solution to tracking their supply chain's.
Bill Gate's Blockchain solution will allow for custody tracking from the point and time a medical device/drug is moved or used/expired to auto update allowing for managers to effectively track and management every little detail of their supply, as well as allowing for the easy transfer of supplies.
It is very important for officials to be able to account for every last dosage of medicine. i.e. Lets say that we 2,000 doses to be transported to New York but our outdated ledger shows that we have 5,000 doses stored in a factory located in Indiana but 5 years a go we shut down that factory and distributed it's supplies amongst the remaining facilities. Now where is the 2,000 doses needed to save lives?
Had the made up company above been using the Blockchain solutions that a lot of Health Care Industries have already upgraded to, they would have typed in the code or name and the ledger would show the exact location of those 5,000 doses than the manager could have those doses distributed where they are needed most instead of sitting collecting dust while people potentially die.
Over all the outdated system is inefficient and not cost effective. This means that the Blockchain solutions are more than efficient in tracking and over all a whole lot more cost effective which should slowly reflect upon the bills of patients to the health care industries or the corporations will just make themselves richer.
I can't predict if they will pass the savings to end users. I would say some will and some most likely will just report higher earnings on their quarterly reports. Time will tell.
Electric and Fuel Industries:
Companies such as Tesla have developed Blockchain Technologies for tracking the usage of solar power electricity and for the purposes of selling electric to the grid during peak hours and buying back during reduced rate hours.
The effects of the Blockchain will in the near future change the ways we pay our bills forever and increasingly incentivize the usage of solar panels in order to live greener lives and save money while generating money here and there all by using Blockchain Technologies.
The Blockchain Technology that Elon Mush is developing will i.e. link together countless homes that use solar panels via smart walls enabling them to track their own households energy usage as well as times. This better helping the power wall to help save the end user money and at the same time generate the end user money when times are right to sell excess energy back to the grid.
This is an untapped industry that several companies are working on right and have already launched on. I am just particularly fond of Elon Musk...I think it has something to do with my fascination for Nikola Tesla and lets just face it, I'm a complete nerd... (read more here)
Various Industries Using Blockchain Technology:
Money Gram: using XRP Ripple Blockchain allows sending money in minutes along with saving money.
Jaguar Land Rover: invested in a blockchain Circulor in order to track supply chain of Cobalt which is an conflict material that mainly come from the Democratic Republic of Congo and they have issues with forced and child labor as well as illegal wages when it comes to mining Cobalt.
The Blockchain Technology here will make sure that Human Rights are not violated by the mining of Cobalt in these territories in the regards of Jaguar Land Rover at least and opens the door for other manufactures to purchase Cobalt without the risk of funding an inhumane mining industry. Similar to that of the "Blood Diamonds"
Technology and evolution are greats things for society. However the responsibility to ensure that we are gathering these resources in a safe and humane way relies upon the manufactures whom purchase these raw materials and also falls onto the end consumer to ensure they are not buying from manufactures whom purchase raw materials from sources of such as the "Blood Diamond" Markets.
Estee Lauder Companies: in early 2021 will be releasing their blockchain traced barley to stores in the EU.
TRADEWIND: digital trading settlement and ownership solution for precious metals.
Devery: decentralized product verification platform (ECommerce)
SKYFchain: operating platform for cargo robots industry.
Major Investors:
MassMutual: Invested a $100,000,000.00 into Bitcoin, with the goal of delivering long-term value to policyowners according to CIO Tim Corbett. While in the bigger picture of investments from a company that has been in operation since May 15, 1851 located in Springfield, Ma USA.
Square (Payments Processing): vested $50 Million into Bitcoin earlier in 2020. The implication of that action might mean the company itself is planning on allowing merchants to use Bitcoin in the future like Paypal and Cash App.
PayPal: has grown to not only investing millions of dollars into Bitcoin but they also now support the purchasing and selling of Bitcoin. This is a pretty good sign in my opinion that they are currently the closest payment processor to allow merchants to accept Crypto as a form of payments.
Cash App: is not so much of a payment processor like PayPal is. However Cash App is mainly used for peer to peer transactions in a similar sense as Crypto is but for FIAT. They have expanded their services to include Stock Market purchasing and selling as well as the exchange of crypto such as Bitcoin which makes it easier for American to buy into Bitcoin and top Crypto Currencies.
Stone Ridge Asset Management: Currently holds over a Billion Dollars in Crypto assets with the majority being vested in Bitcoin. Reported there client base has more than quadrupled during the last year. They won't release any actual holdings information on exact figures. I can't really blame them for keeping these things private.
I have to say that even announcing that your company holds over $1 Billion in Crypto Assets makes you a target. We do know they represent a mass majority wealthy private investors as well as a boat load of Banks and other companies that wanted a safe way into the Crypto World with the same treatment that they have grown accustomed to from Wall Street.
With only their original purchase of 10,000 BTC several years back, is now valued at just over a quarter of a billion dollars alone. Plus they have have expanded their client list exponentially over the years.
Ribbit: located in the Cayman Islands currently holds over 8 billion dollars in Crypto.
Winklevoss Twins: They get mentioned just because my oldest son's name is also Cameron. The Twins like myself and so many others see that in the future blockchain will be used for everything.
Banking Industry:
Banca Generali: S.P.A. is an Italian Bank focused on private banking and wealth management, is part of the Generali Group. Founded in 1998, CEO Gian Maria Mossa since March 2017. The announced a deal with Coinio to provide custody support for Bitcoin to it's customers as well as purchasing $14,000,000.00 worth of Bitcoin.
VTB: issued a digital bank guarantee on the Masterchain Blockchain, which is still in production. Masterchain is an Ethereum Blockchain (FORK) not in the sense of the BTC FORK to BCH, but rather a variant of the former.
Master Chain was co-developed by Bank of Russia and commercial band and will be operated by Fin Tech Association. Bank of Russia put a guarantee for 392 million rubles. (read more here)
Government Acceptance:
USA: Wyoming this year passed a bill that allows Insurance companies to vest into Digital Assets such as Bitcoin. This law went into effect July 1, 2020 and was a first of it's kind in the nation.
TrueUSD: is set to become the supposed first US dollar-backed stablecoin and is launching on the Avalanche Blockchain. The planned launch is in the first quarter of 2021, we will see what happens with this project more so in the future...
Germany: will allow some Digital Assets which is slowly paving the way for Crypto Currencies in Germany. Prior to this change Germany had a law that required the actual exchange of physical certificates.
Germany will in turn save money by going digital in this aspect using the blockchain for apparent reasons of how secure the blockchain is. The savings will come from saving money printing certificates. Ink, paper, stamps, envelopes, deliveries and pickups add up. We didn't even include the cost of paying some one to handle all of these processes.
Germany also went on to comment about how this will open the door to building and adding new technologies in the future. While this may just be for securities at the moment it shows yet another way in which Blockchain Technology is changing current infrastructure and saving money while opening the eyes of people whom never seen any potential in Blockchain. Also to people whom believe Blockchain only exist in coins like Bitcoin...
France: since 2018 has allowed Blockchain based trading of securities, but only non-listed securities that don't use securities settlement systems. As for the Crypto Market, it is slightly regulated to some degree.( read more here)
Venezuela: Okay, I was hoping that the United States would have shown such imitative especially in light of all the issues with the 2020 Presidential Election...I knew our government wouldn't be the first though.
I applaud those in Venezuela whom took the initiative to get this Blockchain up and going and all of those that supported it by voting. Amazingly enough this is a U.S. Blockchain-powered platform used for democracy-related purposes. I bet the United States rigged yet another Election. I say that jokingly but with the state of our election systems can we really trust that Blockchain now? Yes we can! That is the great part of the Blockchain. The Blockchain tracks custody of the votes and to whom they belong to.
Education Industry:
National University: will be using new Blockchain Technology in order to make transcripts and academic records more easily accessible and portable for students alike. (read more here)
What we will see in the near future with Universities alike is the transitioning of in internal processes to use blockchain technologies as well as Universities hiring professor's to teach the Blockchain to fresh young minds.
Gaming Industry:
I have to say that the Blockchain is nothing new to most gamers out there including myself. I am an avid Fortnite player. I am trash at the game but I get a lot of wins. I just haven't caught on to the whole building technique like all of the other players that literally treat my Fortnite Character's like rag dolls and destroy them...lol
Anyways Fortnite using a in-game Crypto V-Bucks in order to get the Battle Pass, Skins, Emotes and Banners for the game. The V-Bucks outside of the wallet would be worthless and I'm not aware of a wallet that would exist outside of the in-app wallet that would support V-Buck even if withdrawal was an option.
Fortnite wasn't the first company to use similar technologies. A lot of the Gaming Industry including online Casino's already use Blockchain Technology to their advantage.
Microsoft: subsidiary XBOX, will be using Blockchain for gaming rights and royalties. We all know Microsoft isn't new to the Blockchain and they will be using it in any way that they can in order to make even more money.
For lack of better word's. "The blockchain-based system will be used by the software giant to enable its Xbox gaming partners and network of artists, musicians, writers and other video game content creators to gain increased visibility into the tracking, management and payment processing for royalty contracts." Techradar Pro
Atari: Am I ringing any bells yet? Atari was bought out in 2008 by Infogamers whom filed bankrupt in 2013. Now they are on the comeback. The original Atari brand that is. They have already launched that ATRI Token that will be used as the in-game crypto currency. ATRI was built on the Ethereum Blockchain.
ATRI will be featured in the online multiplayer game Karma the Game of Destiny. The will also be launching the Atari VCS console, apparently a hybrid console and PC with blockchain connectivity for online gaming and Crypto purchasing.
“Our goal is first and foremost to be on the blockchain, to offer as many games and interactive experiences as we can,” Atari CEO Fred Chesnais told Yahoo Finance Live on Tuesday. “As part of that, if you really want to have a chance in the long run, I believe you need to have your own utility token, and this is what we are doing... This is a space that I don’t want to ignore, because I believe this is a space that has tremendous potential.”
Robotic Industry:
I listed a Blockchain company above that also targets the Robotic Industry, but for the Robotic Industry I give full credit to HOT Holochain. I see the unbelievable potential for using Holochain with robotics. Holochain allows you to monitor sensors and keep that data flow with a constant tracking platform.
Think about the Covid-19 Vaccines for a moment again. These Vaccines have to be shipped from location A all the way to location. Lets say A: America B:Iraq As part of shipping these doses we need to be able to monitor the temperature of the storage containers.
We can not allow for them to reach a temp of above 54 degrees or they will be rendered useless and potentially harmful to the consumer. So, we add sensors that track and report the temperature at every single change. Allowing for alerts and notifications to be sent out immediately if they're experiencing any issues.
That would potentially save the doses provided the tech's could fix the problem. This would also more than give confidence to the physician whom is administering the drug to an Patient. The Physician would know the exact origin of the medicine, they would know the exact path the medicine traveled to make it into their hands.
They would also know the exact temperature of the medicine the entire life of the medicine. They would also know if anyone opened the cargo at any point and time. Since they would be able to verify the origin of the medicines they would be able save lives by not giving away counterfeit medicine. Which I guess it depends on where you are from if you are aware of counterfeit drugs or not.
The above scenario is made up, I don't know what all of the rules for shipping the vaccines are and whether or not the temperatures will effect the drugs. I was just using a hypothetical scenario to explain what HOT Holochain could easily make possibly with the Health Care Industry as well as with an form of Robotics applications that require sensors as well as data storage/gathering.
What Signal Does This Send?
Often times we tend to rely upon the foresight of others to lead us into new technology. Look at computer and how much they have flourished. When I was a child I didn't know a whole lot about computers until my Mother brought one home. I was 13 and let me tell you that thing was huge in comparison to my Laptop, but it still lead me here.
In the Unite States I don't computers got that big until Dell started running that one commercial "Dude, Your Getting A Dell!" Ben Curtis
The moral of that story is just to show that technology takes time to spread and it doesn't really take off until you have major influencers and credible institutions as well as friends and family supporting and adopting the Technology in order to get every ones attention and pull in those who have been on the fence for so long.
I look at it as more of a psychological gain. People tend to put trust into hear say, a.k.a. word of mouth advertising. The more people spread awareness the more the value of what they are talking about becomes. I am not talking about monetary wise at this moment.
They start hearing all these reports about major companies like the ones above and thousands more so they start to get a little bit interested. Next thing you know Bob down the road now has some Bitcoin, huh? Bob never really seemed that smart in school, did he?
We have had people for the last ten years who have been more than skeptical of Bitcoin, Crypto, Bob and the Blockchain alike. They had been unwilling to see the logical advancements that Bitcoin has ultimately lead the way for, some still are unwilling.
I can not fault anyone whom is still skeptical over Bitcoin and I totally understand that people don't comprehend the usefulness of the Blockchain for more than a monetary purpose the however in turn improves lives and cuts cost from small to large amounts.
The thing is now that Bitcoin as well as the Blockchain have gained enough public attention to make them both creditable they will both continue to grow at an exponentially rate. I would estimate that we are in the 10% range of the Blockchains full potential as of now.
My Final Thoughts
I hope I have opened your eyes to the bigger world of crypto than just Bitcoin or BCH. I am a fan of both an I have to mention I love the new record highs and I love the fact that it isn't done yet. Anyways like I was saying everything I covered above isn't even the beginning of everything the Blockchain is already doing in real life scenarios.
The Blockchain is improving the Health Care Industry, Banking Industry etc... With all of the companies pouring billions into blockchain development projects and for the companies that currently operating on the Blockchain whom have saved millions and lives has begun to spread like wild fire.
We will be seeing all kinds of new innovative Blockchain projects in 2021 that will launch and take the majority by surprise. My favorite odd ball project would be the Crypto Keys Project. The crypto itself would be a key to a car, truck, suv, house, apartment and office space.
The technology is available, my understanding is it would use a Blockchain Network. Someone looking for a car searches for nearby cars and selects the car they want. They meet with the cars owner and they both enter into a smart contract. The person who rented the vehicle returns it and the other gets paid so they are both happy.
The best part is they didn't have to know each other until the exchange took place. The same concept as well with the office space and housing. I can imagine the future with Blockchain and I only wish I had a team of passionate motivated and like minded individuals to work on a massive project. The very least I would be satisfied with enough money to fund the project myself.
I look forward to seeing even more projects from the Crypto Community in the future and I am even more excited about the Blockchain Developments to come in the near future.
Thank You for reading, I hope I didn't bore you too much. God Bless You, Stay Healthy!