What Real-World Problems Can Bitcoin Actually Solve Right Now?
Though it is increasingly acknowledged by major business, investors and governments that bitcoin has the power to enable potentially world-changing financial innovations, fundamental issues are still holding back adoption. One of the most prominent, around the world, is the lack of consumer understanding of the subject. For all its development, it remains difficult to explain to the average person just how bitcoin technology can impact their lives - today. This begs the question: in its current form, is bitcoin, both the technology and the wider industry, evolved enough yet to solve real....
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We are starting to see Blockchain based disruptive technologies, solving real world problems. Bitcoins are mined. Mining is a computationally intensive process. Mining with CPU and GPU has already gotten to a point where the profitability is almost trivial. The energy consumption is higher than the output that can qualify as profitable. Some discussions on the Internet are asking the question, "Isn't Bitcoin mining with high energy inputs a cause for environmental concern?" There is another discussion starting to happen in the Bitcoin skeptics society lately, as well. A Quora Question:....
Factom is the first usable blockchain technology to solve real-world business problems by providing an unalterable record-keeping system. By creating a data layer on top of the Bitcoin blockchain, Factom’s distributed ledger technology secures millions of real-time records in the blockchain with a single hash using cryptographic isolation. Businesses, governments and any other organization that relies on secure data can use Factom to document their information so that it cannot be modified, deleted or backdated. Factom’s technology decentralizes record keeping by ensuring that the....
Microsoft has been digging deep into the data created by its $120bn treasury unit in search of real-world use cases where blockchain could cut costs. Culling through this trove of information, Microsoft's newly appointed principal program manager and lead blockchain engineer, Marley Gray, searched for pain points and labor intensive processes that were adding complexity and error to his company's operations. But the fact that an executive like Gray would be allocating time to such an endeavor is perhaps not surprising. Since helping establish Microsoft Azure's blockchain-as-a-service....
Several models for the development of nations for the next three to five years were presented by the World Economic Forum, where cooperation was emphasized as the foundation for successful and speedy economic and social recovery. Speaking at the WEF, Børge Brende, a Norwegian politician and member of the Conservative Party, said that “the direction in which we need to head is towards greater dialogue, coordination and collective action”. Even today in the world of global business, we’re seeing hundreds of examples of cooperation gone right, such as the UN Global Compact,....
Bitcoin and digital currencies are going mainstream. The US already considers Bitcoin as a commodity. Banks are starting to accept and use cryptocurrencies and the momentum across the globe is bringing a lot of newcomers into the ecosystem. As more and more companies and other organizations start to use the blockchain technology, a demand for experts is increasing and many universities are taking notice and adding bitcoin courses to their syllabuses in order to keep up with the quickly changing fintech landscape. Real-world skills have long been an emphasis at top schools around the world,....