"While block-chain is still nascent, IBM has been an early adopter in this market. The tech titan is already working with about 400 companies to implement the technology into their businesses already. "
IBM has contracts to work with seven major banks on their block-chains and is also collaborating with grocers like Kroger to employ block-chain in their food supply chains. The technology still has a long way to go before it’s widely adopted, but IBM’s efforts are a clear example of how even legacy technology companies are taking notice of this growing trend.
-- The global blockchain technology market is growing fast.
- The blockchain market was worth about $317 million in 2015, but it’s expected to grow to $20 billion by 2024, according to Transparency Market Research.
- Blockchains are highly transparent, because anyone with access to a blockchain can view the entire chain.
- Similar to a Google doc, all participants within a network see all changes to the ledger. The ledger is constantly updated and each participant has their own copy of it.
- A blockchain is most vulnerable to a breach when it first come online.
- 9 out of 10 agree that blockchain will disrupt the banking and financial industry. It is estimated that banks could save $8–12 billion annually if they used blockchain technology.
- One-third of C-level executives are considering adopting or are using blockchain technology.
- Just like with the internet, there will be jobs that become obsolete. But, there will be new careers that we haven’t even dreamed up yet that will be created as a result of the blockchain transformation.
It’s time to learn all you can about blockchain technology and get your team working to figure out what opportunities it will create for your organization.
FACT: As you may have picked up at this point, Bitcoin mining has very little to do with mining. Bitcoin mining is just one or more computers cracking a cryptographic puzzle to add a transaction to the blockchain. When transactions are added to the public ledger (blockchain) new coins are created (mined).
Blockchain technology could redefine cybersecurity
There are opportunities for blockchain technology to improve cybersecurity. From holding off hackers to making data tamper-proof and even keeping messaging private, find out how blockchain technology could redefine cybersecurity here.
The possibilities are endless
Or at least Kodak seems to think so, as it recently announced plans to mine its own crypto-currency, KODAK Coin. Shares in Eastman Kodak soared to almost 120% when it announced the new initiative, which is intended to create a global ledger of picture rights ownership — something which photographers can add their work to. Kodak is simply the latest in enterprises aiming to leverage the benefits of this game-changing technology within varying verticals and industries.
- Information on Blockchain Activity is Publicly Available : --
One of the common misconceptions in blockchain techis the fallacy that it is not public. The majority of blockchain activity is rather traceable, contrary to popular belief. Additionally, there are no hidden secrets to blockchain and no dark criminology associated with its activities.
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