Okay. Let’s do this. So, I’m out here, grinding, at 8:30P.M. for YOU. I want to get YOU as pumped as I am about . And yes, I did change my name to Horea Blockchain. You’re probably not surprised though, since an . So, I can do it too, right? Anyways. Let’s get this show on the road. Let me summarize what I learned from my first book on blockchain, so you don’t have to read it. But if you feel like reading, the book is called , and it’s FREE. 10/10. I just finished reading my first blockchain book. blockchain I want to educate YOU. Iced Tea company changed their name to Long Blockchain Blockchain for Dummies Why is blockchain revolutionary? At the real core of blockchain, without all those fancy, ridiculous buzzwords, blockchain is really a few things. One of the biggest advantages of using blockchain is seeing updates in real time. Think of working on a group project in which you have to make changes to a document. Think of using Google Docs, where changes are shown to ALL PARTICIPANTS THAT HAVE ACCESS, in You don’t have to send over a word doc, and then make changes, and send it back and forth. No, that was the 20th century. Now we have updates. Not only that, but you can see the Real time. real time. real time FULL REVISION HISTORY, and the time at which updates were made. Google docs was really the first implementation of blockchain technology, not Bitcoin…(haha)! Smart contracts enable transactions to happen because once certain conditions that are pre-programmed are met, the transaction executes. We’ll get into this later with a car insurance example. Automation. instantaneously, Imagine the complex system and processes that an airplane has to go through before it is ready for commercial use. Now imagine being able to trace in the aircraft to the point where you know the manufacturer, exact time and date, and batch number. This means that recalls on products are specific, rather than cross-fleet. Not only that, but there is more trust in the aircraft, since everyone knows where the individual pieces came from. Increased transparency. every last bolt Car insurance on blockchain will speed up the claim process. Blockchain in 2018 So now that we have an idea behind the benefits of blockchain, let’s talk about how it’s being used in industry today. IBM provides financing to its global partners, which enables businesses to purchase goods and services IBM has over 4,000 partners, each using different systems. The information is now stored on-chain, with the intent of: Let’s talk finance. on credit. ‘Complete visibility of the order-to-delivery pipeline’ — Blockchain for Dummies One of my favorite examples of is within insurance. This requires a bit of leniency on ‘decentralization’ since there has to be an authority to verify the legitimacy of a certain accident. Imagine car insurance. The smart contract will automate the whole claim process. If a legitimate source says the accident actually occurred, then the claim is triggered, and the customer is paid. This could possibly make accidents fun…Ok, maybe not. But it would make things much less painful. Insurance companies will use blockchain. smart contracts In developing countries, proving identity is a terrible problem. For example, to get a bank account, you need proof of residence or utility bills to establish identity, which might not exist in those countries. birth certificates that are time-stamped, immutable, and accessible by anyone will solve this problem. Imagine the reduction in human trafficking. Governments will use blockchain. Digitally authenticated This is a tough one, since we are pretty far away from digitalization of medical history, but boy oh boy do we need it. Every doctor needs to know a patient’s full history to be able to assess each disease correctly, but this is just not possible today. Since people use multiple doctors, and these doctors don’t communicate with each other, information is lost, at the expense of the patient. Imagine medical history on the blockchain, with a complete history for each patient, for use by physicians for precise drug recommendations. Healthcare organizations will use blockchain. Photo by on William Bout Unsplash The platform for blockchain applications You may be thinking something along the lines of: “Ok this is all great and everything, but how the hell do we actually build applications that solve all these problems you just mentioned?” Guess what? I knew you would ask. And I’m here to deliver. Enter Hyperledger by the Linux Foundation. The project was formally named in late 2015, with 17 companies contributing to the effort. The goal is to: “Advance blockchain for cross-industry use in business” technology Man, I do hate corporate talk. But the good part is it is accurate and precise. And I like precision. Why should I use Hyperledger? Simple. 5 things. in Linux Foundation History. It’s the fastest growing project Their vision is to provide robust and modular to APIs accommodate all use-cases imaginable. WHAT DID YOU SAY? YOU MEAN I DON’T HAVE TO USE PROOF OF WORK OR PROOF OF STAKE? Yup, you heard me right. You can plug your own consensus algorithm. It has pluggable consensus. This means faster transaction times, and smaller carbon footprint. No reliance on mining. Yup, you don’t have to learn a new programming language like you do with the Ethereum platform. Programmable smart contracts. IN JAVASCRIPT via Hyperledger Composer. If that didn’t convince you then I’m out. Horea Blockchain out. Horea Call of Duty in.

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What I learned from my first blockchain book

Too Long; Didn't Read

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Horea Blockchain

About Author

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