Future of Blockchain Making Life Easier
The Blockchain has already brought more convenience to everyday life. With the constant evolution of the technology, there are many more industries turning to the Blockchain looking for new ways to enhance life. This article will explore how the Blockchain can help prolong lifespan, improve the environment, food industry and be used as facial recognition in the future.
Prolonging lifespan with Blockchain
Everyone is looking for a way to increase longevity and slow down the aging process. Now longevity and the Blockchain are coming together. Elizabeth Parrish, CEO of Bioviva USA Inc. became the first human being to be successfully invigorated by gene therapy after her own company’s experimental treatments reversed 20 years of normal telomere shortening. BioViva further plans to make healthy longevity available to everyone. Now Elizabeth Parrish has announced that BioViva will implement a crowdfunding campaign using the Waves platform. Additionally, the company also plans to expand opening an office in Moscow.
Elizabeth Parrish is confident that their partnership will accelerate their success stating:
“BioViva will become the first biotech company to issue shares on the base of Blockchain technology. The partnership of BioViva and Waves is an important statement. This approach is not about the amount of attracted investments; instead it is a prescient example of implementation. Our joint success will create a positive example for other biotech companies and will have beneficial impact on the future development of the whole Longevity Industry. ”
Through the help of Waves platform and the Blockchain the company will be one step closer to provide longevity and longer life to the world in the future.
Blockchain aiding the environment
Energy companies have turned to using Blockchain technology to reduce waste. Particularly Electron in the United Kingdom and Singapore Power Group have already started to do so. The Blockchain can help in recording energy flow and pinpoint where distribution or storage could be more efficient. Electron plans to implement Ethereum Blockchain-based applications to register and manage energy consumption.
Singapore Power Group has announced they will form a new consortium of global energy players joining forces to develop Blockchain solutions. The company believes that Blockchain technology can transform the energy sector by lowering transaction costs thus reducing the cost of utility bills.
May Liew, Strategic Development Director at Singapore Power Group states:
“We are working towards transformational solutions to serve customers better, as we transition towards a cleaner, more resilient and cost-effective energy future. We look forward to working with respected industry partners to accelerate the deployment of Blockchain to help our consumers save energy and cost, and enhance their quality of life.”
Additionally, IBM has developed the world’s first Blockchain-based ‘green asset management platform’ in China to reduce emissions. The platform based on Hyperledger Fabric allows enterprises to generate carbon assets more efficiently, helping to build a green, low-carbon and environmentally friendly future in China. These Blockchain implementations will decrease energy emissions in the future providing the world with sustainable development and bettering the welfare of our environment.
Blockchain in the food industry
Although food is vital to life, it can also be harmful leading to foodborne illnesses. Companies have now turned to exploring Blockchain to solve issues in the food system. The main problem in the process of getting food from a grower to the dinner table are intermediaries. There are multiple intermediaries including food suppliers, processors, brokers, retailers, logistics and regulators. Data sharing of the information between parties is often incomplete and limited to groups that have direct contact. Often enough recalls of products aren’t issued quickly enough and consumers are increasingly craving more transparency in the food industry.
The Blockchain can aid in tracking food products. For food producers, the Blockchain allows the easier recognition of food tampering: as it moves through the supply chain, it can immediately be identified and prevented before the food ever reaches the retailer. And in turn for the retailers potentially harmful food products won’t make it onto the shelves because Blockchain technology will allow easy identification of spoiled products eliminating recalls altogether. Blockchain implementation brings transparency to the consumers reassuring that the food matches with what is advertised on the label.
Jorge Izquierdo, VP of market development for the Packaging Machinery Manufacturers Institute (P.M.M.I.) commented:
“With Blockchain you have a birth certificate for every product and almost a resume. It tells everyone in the supply chain who has done what to an individual product. It’s like a pedigree for individual products and, in the future, the amount of information you are going to be able to get is really amazing.”
To date, the biggest Blockchain test project in the industry is a partnership between IBM and Walmart to track pork products in China. The goal is to trace the meat from start to finish: from producers to distributors, grocers and consumers. The aim of the project is to increase transparency and avoid foodborne illnesses in the food industry. Blockchain could indeed simplify by ensuring the safety of daily food intake and purchase in the future.
Travel with Blockchain
Blockchain has made its debut through ShoCard an online digital ID system built on top of the Blockchain. The project is focused on combining mobile and security, while still providing a convenient digital ID management solution anyone can use. ShoCard technology has even been recognized in the airline industry and has partnered with the Swiss based airline SITA. The new app works by hashing passenger’s ID documents and facial biometric data on the Bitcoin Blockchain. This results in a “Single Travel Token” that can be used by airport officials to authenticate the passenger’s identity.
Jim Peters, CTO at SITA, explained that the Blockchain has the potential to eliminate the need for centralized identity storage:
“Blockchain technology offers us the potential to provide a new way of using biometrics. It could enable biometrics to be used across borders, and at all airports, without the passenger’s details being stored by the various authorities. ShoCard has worked with us to demonstrate how we could make this a reality.”
The Blockchain can revolutionize the future of air travel allowing convenience for travelers and the security of knowing who is passing through each airport worldwide.
Blockchain facial recognition
In China, many people have turned to alternative payment methods. They have grown accustomed to online wallets and cryptocurrencies but now an even bigger step has been taken. New technology has been created that allows paying with your face.
The revolutionary technology is called Face++. The program lets users upload their photos to the system after which it integrates facial biometric data tracking up to 83 different key points on the face from various angles simultaneously. The identity verification is quick with very high precision. The technology is already being implemented in AliPay’s smile to pay application.
Face++ can improve financial security of individuals, but it offers not only that. The application can analyze age, race and identify emotional expressions all based on the photo. With these added features the Chinese government has used the Face++ software to identify criminals from video surveillance. This method has been proven to be more accurate than fingerprint analysis or simply sifting through photos. Although the technology was not created for security reasons, it can also enhance the security field. Face++ provides convenience and ensures that no one can hack your identity in the future.
The Blockchain has been used by companies and startups to find ways to make our lives easier. The technology opens the door for enhanced security, reduce energy emissions, crime reduction and much more in a variety of different industries. It is important to keep up with the Blockchain evolution as it provides unique ways to improve the world. The technology of the future is the Blockchain, and further development is essential to shape a better quality of life for everyone.
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