Searching for Practical Applications of Bitcoin and Blockchain at Money 20/20
Money 20/20, often touted as the world’s largest fintech conference, begins today at The Venetian in Las Vegas. The event is expected to attract over 10,000 attendees, and will feature among its speakers and panelists some big names from the Bitcoin and blockchain space. There is an entire track dedicated to blockchain technology at this year’s Money....
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The International Money Transfer Conference (IMTC) is set to hold the first Blockchain and Remittance Day in Istanbul on May 25. This one-day event is part of a larger conference featuring remittances in the Middle East, Africa, and Europe. In particular, the Blockchain and Remittance Day event will feature a range of new systems and services built to enhance remittances and money transfers. Spotlight on Bitcoin and Blockchain. Blockchain refers to a public ledger of transactions for bitcoin which undergo verification through complex algorithms solved by computers or bitcoin miners. Apart....
Over the past months, there have been plenty of developments highlighting the potential of the underlying technology of bitcoin, which is the blockchain. This refers to the public ledger of transactions associated with the cryptocurrency, which requires a network of computers solving complex algorithms to complete verification and add a new block to the blockchain. With these characteristics, blockchain is rendered secure and immutable, as the entries cannot be altered. This has given rise to the use of practical applications, such as creating a database of land titles or enhancing....
UBS has been conducting research on blockchain tech for quite some time and just recently shared more details on its developments. One of these is the so-called "settlement coin" which can be used by financial institutions for transaction clearing. Prior to this, online retail giant Overstock has already ventured into using blockchain tech for "cryptosecurities" and trade clearing. Along with UBS, the company recognized the potential applications of the distributed public ledger in reducing transactions costs and speeding up the verification process. Blockchain Tech in Finance. Blockchain....
More and more folks are starting to appreciate the blockchain protocol without necessarily associating it with bitcoin. Blockchain refers to the public ledger of bitcoin transactions, which is added by adding a block of code for each verified transaction. This verification process is done by several computers solving complex algorithms. Entries in the blockchain are considered immutable and irreversible, as it would take considerable effort to hack into computers that have completed the verification process to update the code. With that, one of the more practical applications of the....
While Fintech has had most of the limelight when it comes to controlling the future revolutionary applications of blockchain technology, there are still several massive industries ripe for disruption that will potentially be able to use blockchain for their business models. In an effort to jump-start that process in the healthcare industry, Philips has launched a “blockchain lab” to explore the potential usage of the blockchain in connected healthcare. In their headquarters in Amsterdam, the Netherlands, Philips will be offering a dedicated space for Philips IT experts, healthcare....