Even if your eyes glaze over when someone starts bragging about their fail proof plan to make millions trading cryptocurrency, it’s time to pay attention to Blockchain, the platform which powers these trades.
Since August I’ve had the opportunity to work with a talented group of tech leaders on a 2-day conference which will take place this week in Golden, Colorado. The Global Blockchain Summit is a gathering of experts from around the country who will share knowledge, tips, trends and insights surrounding Blockchain.
Blockchain, a digital ledger, was originally created to manage transactions made in Bitcoin and other cryptocurrency. It works by storing exchanges between users belonging to the same network in a secure, verifiable, and permanent way, inside cryptographic blocks.
Since its inception roughly 10 years ago, Blockchain has grown past just cryptocurrency and is now transforming industries including government, health care, finance, insurance, logistics, utilities, media and entertainment. Blockchain has the capability to change everything including the way businesses manage supply chains, the way governments count votes, and the way hospitals handle patient records.
Below are a few case studies to help you visualize how Blockchain is being implemented to provide greater data personalization and privacy.
Transparent Path provides the Blockchain technology to show customers where their food came from, how it got to them, and what happened to it in the supply chain. The team at Transparent Path looks to build trust between consumers and food providers by creating a seamless system to track the full supply chain of products from farm to table in hopes to eliminate contamination and other supply chain issues. In July 2018 IBM Food Trust launched, after a year-long pilot program, in partnership with Walmart, Tyson, Nestle and Unilever, utilizing Blockchain to build trust and transparency in the world’s food supply chain.
Clause, a smart legal contracting platform, converts contracts from static documents to a dynamic, integrated, part of your business. With this Blockchain technology contracts can be connected in real-time to payment tools like Stripe and e-signature applications as well as create automated notifications to stay up to date on the status of a contractual agreement. In September LegalZoom partnered with Clause to offer the smart-contract features to their clients.
UPGRADED is a digital “smart” ticket that offers fraud security, mobile transfers and opportunities for entertainment and sport promoters to generate additional revenue. BlockApps, a Blockchain developer, partnered with UPGRADED to provide the Blockchain technology that would allow for the mobile ticketing company to launch its product and include features that would provide crucial insights into customer and market behavior. UPGRADED completed pilot programs with various MLB and NBA teams last season.
If you’re attending the Global Blockchain Summit this weekend, you’ll get to meet some of these companies and learn more about their emerging technology solutions!