What is blockchain? Not just for a simple cripto-assets.
“Even though the blockchain clearly has many possible use cases, some people still have trouble separating it from its digital currency roots,”
The blockchain begins finding its way in the enterprise. 2018 Techcrunch
Blockchain is a “digital ledger system.” Thanks to several of its technical features, it is perfectly suited for asset management and, as such, made the realization of cryptocurrencies (or more accurately “crypto-assets”, as declared by the G20 in March 2018) possible.
However, as blockchain technology itself is an outstanding technology which supports asset distribution, its uses are not only limited to cryptocurrencies (or “crypto-assets”). It is starting to see more and more application in industry, such as the U.S. supermarket chain, Walmart, having announced that they have begun to use blockchain technology to track the pork that they import to the U.S. from China, all the way from the farm to the store.
Gartner predicts that the business value-add of blockchain will climb to $3.1 trillion by 2030, but it is not yet known just how widely it will spread. At present, blockchain technology is still in its infancy, and technical issues, such as processing speeds, remain numerous.
This is why, when you use blockchain or invest in a business which uses it, you must look closely at whether that business is suited to the features of blockchain.
You will understand it more easily if you think about it in the following steps.
1. What assets do you plan to handle with blockchain? i.e. What asset would you like to include in degital ledger?
E.g. Real estate, energy, digital content, etc.
2. Do you need to tackle both the improvement of liquidity through transaction traffic clarification and securitization, as well as preserving reliability, in order to encourage that distribution?
E.g. To be able to improve food traceability to entice consumers to buy it, you would need to both be able to track multiple transaction routes, as well as keep records that cannot be falsified. To support the distribution of digital content, you would need to both fundraise through securitization of the content and keep transparent copyright records to avoid issues caused by reuse.
3. Can you rely on existing organizations or securities in order to carry out a transaction?
E.g. No organizations exist which can guarantee transparent transactions and zero fraud when handling the applicable assets. The transaction cost when using existing organizations and securities will have a serious impact on the liquidity of the transaction.
We have compiled an infographic that contains above information, so please use it in your business and when making investment decisions.
We at “reindeer Project” are attempting to distribute design examples of cloud computing design, called cloud design, free of charge. This is so that anyone can use cloud computing, which is currently enjoying huge global popularity, safely and effectively. We will use blockchain in creating the funds required to gather these examples and recording copyrights to avoid reuse issues. This is because we are trying to position cloud design as a free and open social asset that can be useful in the development of society.
We believe that such social assets which can contribute to prosperity in culture and everyday life are the field where we should apply the features of blockchain to their maximum advantage.
Please ask any questions about the project at Telegram messenger!!
