If you read this, it means that you are taking a step of knowing the changes around you and how effective they will be. Some are already in progress and some and to progress soon. So, what are you waiting for?????? BLOCKCHAIN IS HERE TO STAY AND YOU MUST MAKE SURE THAT YOU UNDERTAND WHAT THEY ARE. We are taking you back to explanation so that you will be able to understand and take part in the new revolution. Blockchain technology will change the world in fact it has begun. Blockchain is the ingeniously simple technology that powers cryptocurrencies. But it is much more than that, too. It is a public ledger to which everyone has access, but which no single person controls. It allows for companies and individuals to collaborate with an unprecedented degree of trust and transparency. It is cryptographically secure, but fundamentally open. And soon it will be everywhere.
The possibilities of blockchain animating the physical world is at its course. The ledger technology has been distributed so that good and better things to life will be enabled. Blockchain is at a stage of thinking about everything that is possible to turn ledger Technology in everything. Here are examples of identified opportunities for the ledger of everything in major functional areas.
The Twelve disruptions
Transportation
In future, you will call up an autonomous vehicle to get you softly where you need to go. It will intuitively take the fastest route, avoid construction, handle tolls and park on its own. In time of traffic congestion, your vehicle will negotiate a passing rate so that you will arrive at your destination on time and freight managers will use the blockchain-enabled IoT(Internet of Things) on all cargo to clear customs and other required inspection quickly.
Infrastructure management
Professionals will use smart devices to monitor locations, integrity, age, quality and any other relevant factors of pavement, rail lines, power poles and lines, pipelines, runways, ports and other public and private infrastructure to monitor conditions, detect problems (corruption, breakage or tempering.
Energy, Waste and Water Management
Traditional utilities in both the developed and developing world can use the blockchain-enabled IoT for tracking production, distribution, consumption and collection. As we’ve already seen new entrants without significant embedded infrastructure are planning to use these technologies to create entirely new markets.
Resource Extraction and Farming
This technology can also help track expensive and highly specialized equipment and make it more widely available for just in time usage and cost recovery; improve miner and farmworker safety through tagging of safety equipment and automated checklists. (to ensure that equipment is being used properly); monitor weather, soil, and crop conditions to start irrigation, automated harvesting, or other actions; and compile “infinite data” analytics to identify new resources or advice on agricultural best practices based on past patterns and results. Seniors in soil and Trees could help environmental protection agencies to monitor farmers and their usage of land.
Environmental Monitoring and Emergency Services
The longitudinal data is going to be used to reduce the risk of events such as flagging dangerous chemicals or radioactivity for emergency workers; monitoring lightning strikes and forest fires, installing earthquakes and tsunami early warning and alert systems and of course, storm monitoring and early warning. To improve the response time for emergency services and reducing the risk of these events to human life, we could use this longitudinal data to increase our understanding of underlying trends and partners, identifying preventive measures in some cases, and improve our predictive capability to provide even earlier warning.
Health Care
Blockchain-enabled IoT can use emerging applications to link services. Application in development include monitoring and disease management (e.g., smart pills, wearable devices to track vital signs and provide feedback) and improve quality control. Imagine an artificial hip or knee that can monitor itself, sends anonymized performance data to the manufacture for design improvements and communicates with patient’s “time to replace me”. New smart drugs could track themselves in clinical trials and present evidence of their effectiveness and side effects without risk of modified results.
Financial Services and Insurance
Financial institutions could use smart devices and the IoT to tag their claims on physical assets, making them trackable and traceable. Because digital currencies enable the storage and transfer of value rapidly and securely for all users large and small, they also enable risk assessment and management. Thinking further, could the poor and disadvantaged earn small amount of cash, or perhaps electricity or other objects, antiquities, jewellery, the stuff of museums, anything ever handled or insured by.
Document and other record keeping
Physical assets will become digital asset. All documentation relating to a “thing” can be digitized and carried on the blockchain including patents, ownership, warranties, inspection certification, provenance, insurance, replacement dates, approvals, etc. significantly increasing data availability and integrity, reducing paperwork handling, storage and loss and other process improvements related to that documentation.
Building and property management
Most of commercial real estate are vacant. Digital sensors can create marketplaces of real estate assets by entering this field and developing new service model to rent the spaces I hours. In the evenings, your conference room can moonlight as a classroom for neighbourhood youth or can be an office for local start-ups.
The global plan floor needs a global ledger of things, aka the industrial blockchain. Factory manager will use smart devices to monitor production lines, warehouse inventory, distribution, quality and other inspections. Entire industries may adopt the ledger approach to significantly increase efficient for such processes as supply chain management. Large complex machines, like airplane and locomotives, consist of millions of parts. Each individual component of jet engine or railcar could sensor that sends out and alert when it needs fixing.
Feeling lonely? You can always speak to your house. Your own home and numerous products and services are entering the market to allow automated and remote home monitoring. These services go beyond the nanny camera to include access controls, temperature adjustments, lighting, and eventually, just about everything else at home.
Walking down the streets, your mobile device advises you that the dress you love is available at Zara. Walk into the store and dress, in your size, is waiting for you. After trying it on, you can scan it and the payment is complete. However, you’ve got other things to do, so the dress finds its way to your house before you get home. In addition to operational efficiencies and environmental monitoring, retailers will be able to personalize products and services to identifiable customers as they walk or drive by based on their location, demographics, known interests and purchasing history, if those customers opened their black boxes to retailers on the blockchain.
Bibliographic index _Blockchain Revolution “How technology behind Cryptocurrencies is changing money, Business and the world.
“Mind blowing”; steve Wozniak co founder of Apple
“Ironic”; Clay Christensen Harvard Business School
Written by Don Tapscott ( Best selling author of WIKINOMICS) and Alex Tapscott
“The blockchain is one of the most fundamental inventions in the history of computer science. Read Blockchain Revolution to understand its profound implication” Marc Andreessen, co-founder, Netscape and Andreessen Horowitz.
Everywhere thought peoplw Are trying to understand this revolutionary technology and how it might changethe world.Team Tapscott has stepped up and written book we’ve been waiting for Dan Schulman, CEO,Paypal.