Intro to Blockchain

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• Blockchain is a distributed database. Everyone can add to it but no one can make changes to existing additions.
• The best place to use blockchain tech is in FITS (Fraud, Intermediaries aka middlemen, Throughput aka number of transactions, and stable data).
• Decentralized Computing can be used to overcome the “10 transactions per second” issue. Increases the throughput to 400k transactions per second.
• Barclays, Credit Suisse, and HSBC discussing making a single digital currency to settle transactions using blockchain.
• In Italy, 85% of banks use a blockchain system called Corda
• Britain, Thailand, and Japan are all looking into digital versions of their currencies. China is leading the way.
• 15% of American adults own some form of cryptocurrency.

Applications

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• Notaries (verifying signatures on legal documents)
• Digital Voting
• Food industry (tracking food, digital certificate for each piece of food)
• Medical records
• Personal identity
• BANKING, CYBER SECURITY, SUPPLY CHAIN MANAGEMENT, NETWORKING, INSURANCE, PRIVATE TRANSPORT & RIDE SHARE, DONATIONS, VOTING, GOVERNMENT, PUBLIC BENEFITS, HEALTHCARE, ENERGY MANAGEMENT, ONLINE MUSIC, RETAIL, REAL ESTATE, CROWDFUNDING