Blockchain is a decentralized database that allows digital information to be distributed without being copied. It addresses problems with the conventional internet like duplicity, privacy, reliance on intermediaries and centralized controls, and security issues. A blockchain uses cryptography to securely record transactions in a growing list of blocks that are linked using consensus. It provides transparency, immutability and decentralization without transaction costs. Potential applications include decentralized marketplaces, digital identity, payments, supply chain management and more. However, challenges remain around scalability, regulation and adoption.
Blockchain is a decentralized database that allows digital information to be distributed without being copied. It addresses problems with the conventional internet like duplicity, privacy, reliance on intermediaries and centralized controls, and security issues. A blockchain uses cryptography to securely record transactions in a growing list of blocks that are linked using consensus. It provides transparency, immutability and decentralization without transaction costs. Potential applications include decentralized marketplaces, digital identity, payments, supply chain management and more. However, challenges remain around scalability, regulation and adoption.
Blockchain is a decentralized database that allows digital information to be distributed without being copied. It addresses problems with the conventional internet like duplicity, privacy, reliance on intermediaries and centralized controls, and security issues. A blockchain uses cryptography to securely record transactions in a growing list of blocks that are linked using consensus. It provides transparency, immutability and decentralization without transaction costs. Potential applications include decentralized marketplaces, digital identity, payments, supply chain management and more. However, challenges remain around scalability, regulation and adoption.
Blockchain is a decentralized database that allows digital information to be distributed without being copied. It addresses problems with the conventional internet like duplicity, privacy, reliance on intermediaries and centralized controls, and security issues. A blockchain uses cryptography to securely record transactions in a growing list of blocks that are linked using consensus. It provides transparency, immutability and decentralization without transaction costs. Potential applications include decentralized marketplaces, digital identity, payments, supply chain management and more. However, challenges remain around scalability, regulation and adoption.
• Satoshi Nakamoto developed the first database for blockchain
• What is the biggest challenge with digital information? • Blockchain allows digital information to be distributed without being copied • https://youtu.be/27nS3p2i_3g Problems with conventional internet • Duplicity • Privacy • Intermediaries • Centralized controls • Security The basics • A blockchain is an immutable time-stamped series record of data that is distributed and managed by cluster of computers. • Each of these blocks of data (i.e. block) are secured and bound to each other using cryptographic principles (i.e. chain). • The algorithm is based on consensus. • An open blockchain network has no central authority — it is the very definition of a democratized system. Since it is a shared and immutable ledger, the information in it is open for anyone and everyone to see. • Three pillars of blockchain: 1)Decentralization 2) Transparency 3) Immutabilty • Costs of blockchain? • There are infrastructure costs (cloud infrastructure, operating system, middleware, database, and programming language runtime environment etc.) but hardly any transaction costs Estimated infrastructure and setup costs • White Paper professionally drafted (this is FIRST; a clear vision, well explained, within legal boundaries, is ESSENTIAL in the cryptosphere) - $750-$1,500. • Website/basic landing page - $450. • Complete platform (from basic to platform/mining/wallet and payment platform with unique ERC20 token) - $1,350-$4,800. • ERC20 token with smart contract customization as per your choice - $1,250. • Advertising and social media control. By the time you have done all of this you will easily have spent a minimum of $25k to properly develop and launch your ICO/ITO. • However, you can have a blockchain-based game or website developed for $1k-$2k; Creating a DistributedApp using Public Blockchain Networks • Applicable to decentralized business models to enable ‘Peer to peer’ (P2P) transactions using cryptocurrencies • Eliminating middlemen: In any industry, if you find middlemen and tampering of records, blockchain can disrupt the existing business model. examples? RentBerry, • What are the problems with Facebook? • Privacy, content censorship, plagiarism, advertisements • Dapps: you can get paid if your content engages users. Since the user engagement drives the economic activity, the ads aren‘t needed! • New Age gaming:decentralized games using collectibles Are our markets decentralized? Problems with centralized marketplaces • A centralized company owns the platform, for e.g. ebay, and takes commission from sales; • The infrastructure is centralized, and can be hacked; • The company owning the marketplace can change terms and conditions (T&Cs) of trade at will; • You need to rely on third-party payment systems; • Your personal sensitive data is held by the centralized owner and they can sell it to third parties. Decentralized Online Marketplaces • No middleman controls the trade between buyers and sellers; • The terms of trade are determined by buyers and sellers, and no middlemen intervene; • The terms of trade are open, transparent, and immutable; • No tampering of transactions is possible; • Payment between buyers and sellers is direct, no intermediary has any role to play; • Transactions are instantaneous, without depending on a third-party; • The marketplace is global as soon as it‘s up • It‘s a permanent marketplace that can‘t be destroyed; • No personal sensitive data is needed. Blockchain: transforming the marketplace • Blockchain is a decentralized distributed database, and all nodes are involved in maintaing the database. Each has a full record of the database. There’s no central server for hackers to destroy; • It‘s a peer-to-peer (P2P) network, hence sellers can directly transact with buyers without intermediaries; • T&Cs are coded in immutable smart contracts; besides they are transparent; • Payment process uses cryptocurrencies thus eliminating third-party payment providers; • Cryptographic hash functions, data encryption, and blockchain consensus algorithm make the system secure. Blockchain in Marketing • Engaging and Targeting the Right Audience: BitClave • Ad Fraud Prevention: adChain • Disrupting Crowdsourcing: Dataeum • Decentralization of E-Commerce: OpenBazaar • Disrupting Influencer Marketing: SocialMedia.Market • https://youtu.be/hYip_Vuv8J0 Give me some Marketing use cases Impediments?
• https://www2.deloitte.com/content/dam/Deloitte/se/Documents/ris k/DI_2019-global-blockchain-survey.pdf Is Blockchain overhyped?