[ad_1] <div _ngcontent-c16 = "" innerhtml = "
Getty
(Disclaimer: The author holds investments in bitcoin and Ethereum.)
Bitcoin has been compared to to [19659005] new [19659005] internet is innovative, decentralized and will change the world, experts said but this is an "exaggeration." If you want to compare bitcoins with the Internet, cryptocurrencies are not the web but Websites. Ethereum, the technology that powers most cryptocurrencies, is like the World Wide Web and the Internet itself … well, this is not bitcoin. It's the blockchain.
The blockchain is the distributed master book that it keeps track of where every bitcoin is and where it comes from.It makes it impossible to create new bitcoins and prevents people from spending the same bitcoins twice. It's an essential part of Bitcoin.
But bitcoin is just a blockchain use. used to keep u immutable register of a myriad of different things, and companies are now busy spending millions trying to figure out what else they can do with it. Not all experiments will work. Most will not do it. But some will, and not only will have significant effects on the way we live, but will also influence the price of cryptocurrencies.
One of the most promising areas for blockchain is the sharing economy. A ledger that can track the flow of digital coins can also follow the use of shared physical objects such as bicycles, cars and even real estate. Ofo, one of the largest Chinese city bicycle companies, announced in May that it will establish a blockchain research institute to examine how blockchain technology can improve the internet of things and facilitate big data .
ShareRing [19659011] is going even further. The company was formed at the beginning of 2018 to create "an ecosystem for the rental economy". Instead of focusing on a form of property, such as bicycles or mobile homes, any company or individual could use the service to rent their goods. The company plans to launch an app in November that will already allow people to find the assets they wish to use and agree a lease with the owner. Of course, everything is protected by blockchain.
The economy of sharing has already changed the way we travel, making it simple to find a passage home in the city (think Uber) or a place to stay on the road (think Airbnb). If ShareRing proves to be the application that fuels the growth of that economy, it is already becoming clear that the ability of the blockchain to keep track of the objects used by a large number of people makes this technology attractive in a & # 39; extremely promising area. [19659020] Banks and beverage companies build on Blockchain
The sharing economy is new and disruptive, like Bitcoin. But traditional companies are also wondering what a distributed register can do for them. Last year, with UBS, banks like Barclays, Credit Suisse, HSBC, the Canadian Imperial Bank of Commerce, MUFG and State Street looked for & nbsp; to develop a "utility settlement currency". The currency would be convertible into parity with foreign currencies and would be used to settle international transfers. Other financial organizations involved in the project include BNY Mellon, Deutsche Bank and Santander. The currency should have been issued at the end of 2018.
The connection to fiat makes the digital currency of banks very different from bitcoin, which floats freely and is highly volatile. The currency will also be used by banking organizations, not by consumers. But it would provide banks with a quick and efficient way to regulate international transactions, reducing transaction times, increasing reliability and clarifying audits.
Banks' efforts will seem familiar to bitcoin users, which is designed to make international and economic transactions fast for everyone But an experiment with the blockchain shows how far the blockchain can go.
Coca-Cola is now working with the US State Department to produce a register of workers in the sugar industry . The idea is to put workers' contracts on a blockchain built by Emercoin and the Bitfury Group so that working conditions agreements can not be changed and are always accessible. The hope is that transparency will increase the pressure on employers to honor their contracts. By 2020, Coca-Cola says it expects to be able to provide data on abuses at work, including child labor and forced labor in 28 countries.
None of these three projects will succeed. To foster the sharing economy, ShareRing will have to demonstrate that the blockchain can track shared assets more efficiently and more securely than current centralized registers and that there is demand for such assets. To find a role for a digital currency in international transfers, banks will have to show that their token is better for transactions than legal currencies and current methods of moving them. To demonstrate that the blockchain should store workers' contracts, Coca-Cola and the State Department will have to be able to indicate a decline in labor abuse.
But if these things happen, the blockchain could receive a vital vote of confidence, and that trust could spread through cryptocurrencies in general. More than 1,600 tokens and digital tokens were launched, but few have produced a valuable service. Most will never do it: a failure that has contributed to the decline in cryptocurrency prices. The success of a blockchain venture, whether it be sharing economy, traditional banking, job problems or elsewhere, could help to show that the blockchain has real use and not only in the creation of digital coins. This will cause people to reconsider those long lists of cryptocurrencies while trying to figure out what the real businesses might represent. While they are buying coin baskets in the hope of landing the bulk, they will put pressure on prices.
Keep an eye on the blockchain technologies. A company could make it work and raise the whole industry with it.
Do I qualify?
">
(Disclaimer: the author holds investments in bitcoin and Ethereum.)
The bitcoin has been compared to a new internet . It's innovative, decentralized and will change the world, experts said, but it's an exaggeration. If you want to compare bitcoins with the Internet, cryptocurrencies are not web but websites. Ethereum, the technology that powers most cryptocurrencies, is like the World Wide Web and the Internet itself … well, this is not a bitcoin. It is the blockchain.
The blockchain is the distributed ledger that keeps track of where every bitcoin is and where it comes from. It makes it impossible to create new bitcoins and prevents people from spending the same bitcoins twice. It is an essential part of Bitcoin.
But bitcoin represents only a use of blockchain. A distributed ledger can be used to keep an immutable record of a myriad of different things, and companies are now busy spending millions trying to figure out what else they can do with it. Not all experiments will work. Most will not do it. But some will do it, and not only will have significant effects on the way we live, but will also influence the price of cryptocurrencies.
One of the most promising areas for blockchain is the sharing economy. A ledger that can track the flow of digital coins can also follow the use of shared physical objects such as bicycles, cars and even real estate. Ofo, one of the largest Chinese city bicycle companies, announced in May that it will establish a blockchain research institute to examine how blockchain technology can improve the internet of things and facilitate big data .
ShareRing [19659011] is going even further. The company was formed at the beginning of 2018 to create "an ecosystem for the rental economy". Instead of focusing on a form of property, such as bicycles or mobile homes, any company or individual could use the service to rent their goods. The company plans to launch an app in November that will already allow people to find the assets they wish to use and agree a lease with the owner. Of course, everything is protected by blockchain.
The economy of sharing has already changed the way we travel, making it simple to find a way home in the city (think Uber) or a place to stay on the road (think Airbnb). If ShareRing proves to be the application that fuels the growth of that economy, it is already becoming clear that the ability of the blockchain to keep track of the objects used by a large number of people makes this technology attractive in a & # 39; extremely promising area. [19659020] Banks and beverage companies build on Blockchain
The sharing economy is new and disruptive, like Bitcoin. But traditional companies are also wondering what a distributed register can do for them. Last year, with UBS, banks like Barclays, Credit Suisse, HSBC, the Canadian Imperial Bank of Commerce, MUFG and State Street sought to develop a "utility settlement currency". The currency would be convertible into parity with foreign currencies and be used to settle international transfers. Other financial organizations involved in the project include BNY Mellon, Deutsche Bank and Santander. The currency should have been issued at the end of 2018.
The connection to fiat makes the digital currency of banks very different from bitcoin, which floats freely and is highly volatile. The currency will also be used by banking organizations, not by consumers. But it would provide banks with a quick and efficient way to regulate international transactions, reducing transaction times, increasing reliability and clarifying audits.
Banks' efforts will seem familiar to bitcoin users, which is designed to make international and economic transactions fast for everyone But an experiment with the blockchain shows how far the blockchain can go.
Coca-Cola is now working with the US State Department to produce a register of workers in the sugar industry . The idea is to put workers' contracts on a blockchain built by Emercoin and the Bitfury Group so that working conditions agreements can not be changed and are always accessible. The hope is that transparency will increase the pressure on employers to honor their contracts. By 2020, Coca-Cola says it expects to be able to provide data on abuses at work, including child labor and forced labor in 28 countries.
None of these three projects will succeed. To foster the sharing economy, ShareRing will have to demonstrate that the blockchain can track shared assets more efficiently and more securely than current centralized registers and that there is demand for such assets. To find a role for a digital currency in international transfers, banks will have to show that their token is better for transactions than legal currencies and current methods of moving them. To demonstrate that the blockchain should store workers' contracts, Coca-Cola and the State Department will have to be able to indicate a decline in labor abuse.
But if these things happen, the blockchain could receive a vital vote of confidence, and that trust could spread through cryptocurrencies in general. More than 1,600 tokens and digital tokens were launched, but few have produced a valuable service. Most will never do it: a failure that has contributed to the decline in cryptocurrency prices. The success of a blockchain venture, whether it be sharing economy, traditional banking, job problems or elsewhere, could help to show that the blockchain has real use and not only in the creation of digital coins. This will cause people to reconsider those long lists of cryptocurrencies while trying to figure out what the real businesses might represent. While they are buying coin baskets in the hope of landing the bulk, they will put pressure on prices.
Keep an eye on the blockchain technologies. A company could make it work and raise the whole industry with it.
