IBM Executive Highlights Block Chain's Utility for Internet of Things
Precisely what the so-called "Internet of Things" will look like five or ten years from now is difficult to say, but it's not out of the question that a block chain may be behind some of the next-generation technologies that companies like IBM are developing in order to build what may also be called the connected economy. Regardless of the phrase or buzzword, the concept envisions a world in which all devices, places and people are interconnected networks, sharing data and information at lightning speeds among one another. Mobile devices, smart appliances, vehicles, even homes - the....
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IBM researchers are looking into the possibility of using block chain technology for the Internet of Things (IoT) - a term for the growing network of devices with basic computer-like capabilities that communicate over the web. The IoT is likely to bring a major change in the way we use technology, with interaction between connected everyday devices (such as pacemakers, fire alarms or air-conditioning units) and humans increasingly becoming the norm. Now IBM is examining the use of block chain technology for an IoT distribution platform, backed by other peer-to-peer (P2P) technologies. The....
Taking the block chain out of Bitcoin and applying it to concepts beyond currency will be a key part of 2015. Their trustless, decentralized nature and future smart contracts provide more than just currency. Today, block chains are the data structure core to decentralized cryptocurrencies. Block chains are bubbles of market-driven nascent economies and platforms of permissionless innovation. Block chains, the concept, are even more important than the bitcoins they safeguard. I'm a big believer that the Internet of Things will grow one very compelling use case - Paul Brody, IBM. For a....
Bitcoin will be the sixth largest global reserve currency by 2030, according to research by Silicon Valley investment firm Magister Advisors, which surveyed some 30 block chain companies, the International Business Times reported. The research also indicates banks will invest $1 billion in block chain technology in the next few years and that the block chain will become the rails on which finance runs. Block chain is "without question" the most important enterprise IT development in a decade, said Jeremy Millar, a partner in the investment firm. He characterized the block chain as being on....
After a low-volume summer in the community, we just might be seeing some activity that, fingers crossed, could kickstart the alternative digital currency marketplace. Although the risk of project collapse is still out there, as recent failures like ghostcoin have shown, recent developments in the space indicate that the altcoin story is far from over. Viacoin team implements block chain notary service. One of the next-generation use cases proposed for the block chain is that of a notary. Instead of relying on a central authority to certify the authenticity of a document, the block chain....
Bitcoin was designed to be a decentralized and trustless payment network - with the power to do this provided by the block chain and its ability to publicly confirm the digital currency's digital transactions. Rather contentiously, however, as the bitcoin economy expands, more and more transactions are being carried out off the block chain. Such transactions are tracked on private databases instead of the block chain, and cannot be publicly tracked. There are pros and cons to both systems. So, which are better? Off-block chain or on-block chain transactions? Visible payments. Legitimate....