Financial Industry Cannot Use DApps Without the Open Blockchain
Decentralized apps are becoming the new norm in the world of blockchain technology. The benefits offered by DApps attract a lot of attention, and it seems as if the future role of this technology in the payment sector is only a matter of time. Also read: Here’s Why Your House is ‘Much More Valuable’ on the Blockchain What makes DApps so appealing to....
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One major criticism on private Blockchain development initiatives led by banks and financial institutions has been the ambiguity in the coding language and structure of permissioned ledgers. The R3 Consortium is attempting to neutralize it by open sourcing its technology. R3 Corda, a private Blockchain platform specifically developed for financial establishments with massive transactional volumes by R3CEV, is officially rendered open source by the consortium after over 70 of its member financial institutions came to a consensus in setting a standard for the Blockchain technology. Vision....
If 2016 was the year of the Blockchain POC, 2017 will be the year of the Blockchain application. In 2016, analyst firms and industry bodies such as the World Economic Forum (WEF) laid out the top use cases to tackle. According to 2017, work from industry leaders like ConsenSys, a custom software consultancy led by Ethereum founder Joe Lubin, indicates that 2017 will be the year of the Blockchain application. In order to accelerate the development of Blockchain applications, ConsenSys joined forces with Synechron, a global digital consulting firm working with financial institutions, to....
Though the crypto 2.0 segment of the bitcoin community is maturing, the part of the industry principally concerned with non-financial or advanced blockchain applications has struggled to develop a stable marketplace for its projects. In the absence of strong VC interest, or perhaps in the spirit of pushing the boundaries of innovation, many decentralized applications (DApps) are seeking to fund themselves through what may arguably be the blockchain's most compelling use beyond currency, decentralized product backing in the vein of Kickstarter. DApps seek to harness the ability of....
Major Spanish energy company Endesa has revealed plans to open a blockchain laboratory in an effort to encourage development of blockchain-based solutions for the energy industry. Endesa, the largest power utility in Spain, has joined the growing number of companies across various industries looking to leverage blockchain technology for industry-specific applications. The electricity provider, through its open collaborative platform Endesa Energy Challenges, has issued an open call for applications from any interested participant looking to develop distributed ledger solutions, to become a....
With the decentralized application space evolving rapidly, let’s take a look at some of the best examples that caught our attention in 2020. With the crypto market making a crazy comeback this year, an increasing number of casual investors all over the world are beginning to understand the potential that blockchain technology possesses. For example, over the course of 2020, decentralized applications gained a remarkable amount of traction, with the total locked volume across all decentralized exchanges rising from under $40 million back in December 2019 to a whopping more than $26 billion....