Smart Oracles – How Blockchains Communicate With Outside World

Blockchain is a closed network utilized for secure transfer of value. There are public chains which allow anyone to become a part of the network and there are private chains which allow only certain authorized individuals or institutions to become a member. However, there will always be a world outside this network which might need to be contacted. Hence the question, “How Blockchains communicate with outside world

Continue reading “Smart Oracles – How Blockchains Communicate With Outside World”

Why it is Necessary to have a Proof of Concept (POC)

Proof of concept (POC) of a Blockchain Application or any other application is a working prototype that helps to establish evidence that the potential product can be successful. Developing a proof of concept can help a product owner to identify potential gaps that might interfere with the success. It also provides the opportunity to solicit internal feedback about a promising product and reducing unnecessary risk. It provides the opportunity to stakeholders to assess design choices before full-scale implementation.

Continue reading “Why it is Necessary to have a Proof of Concept (POC)”

The Recent Ransomware Attack Could Have Been Avoided with the Use of Blockchain Technology!

According to reports by various agencies, the recent cyber attack of ransomware knows as ‘WannaCry’ has affected over 200,000 computers in over 150 countries. The ransomware was supposedly spread through spam emails of fake invoices, job offers, etc. which had .zip file attachments. Once the attachment is clicked, it initiates the infections of WannaCry. However, one of the CISCO’s division believes that vulnerable systems which were left open on the internet could be attacked without any need for phishing.

Continue reading “The Recent Ransomware Attack Could Have Been Avoided with the Use of Blockchain Technology!”

Blockchain Promises to Solve Healthcare Woes

Blockchain is a decentralized ledger that constitutes the underlying technology of cryptocurrencies like Bitcoin. While Blockchain is best known for powering bitcoin, it has been identified as disruptive technology platform relevant for various industries and businesses to keep data secure in a distributed, encrypted ledger and control access to that ledger.

Continue reading “Blockchain Promises to Solve Healthcare Woes”

Blockchain Disrupting Supply Chain Finance

Blockchain, the underlying technology behind Bitcoin has established itself to be beneficial for plethora of industries. To start with, it has revolutionized payments and settlements in the financial domain. Following that, it is impacting other areas of finance like lending, wealth management and insurance. Out of this, Supply Chain financing forms an interesting use case as it is part of Supply Chain Management (SCM) which itself is undergoing major disruption.

Continue reading “Blockchain Disrupting Supply Chain Finance”

Different Types of Blockchains

Public Blockchain:

Anyone in the world can download the data and read the data. Anyone can participate in the consensus process to write the data or block into the public Blockchain. There are numerous public blockchains. Bitcoin which is a peer to peer currency exchange was the first public Blockchain followed by Ethereum which allows anyone to build smart contracts and decentralized apps on it. Some other examples are Dash and Lisk.

Continue reading “Different Types of Blockchains”