« What is the blockchain Daddy ? »
« For your birthday you made an excel file with the names of your friends who confirmed and who did not? you change it all the time, add a line delete a line ..etc
The blockchain is an excel file that only allows you to add and view, it keeps all the history, so a friend who cancels then reconfirms then cancels, you will find all the history of his maneuvers .. for that to do the file is saved on several computers to ensure that no one can modify or delete lines and for that his computers coordinate with each other.
It’s no longer an excel file, it’s a distributed database called a blockchain.
Do you see a use of blockchain? »
« Yes, we want to organize an activity ourselves among friends without having a teacher or a facilitator and if it is everyone can see the file with the participation for each one and no one can modify it without the confirmation of other… that’s great »
As any innovation the most interesting is its usefulness in everyday life or to develop new business models with economic or societal impacts, isn’t it?
Now it’s up to you to answer to get an idea of the maturity …
Do you have a well identified blockchain project today
Do you need to know more before you can project on a business application
Yes you just want to know how to earn more by speculating on Bitcoin 😉
Want to know more? it’s this way.
What is blockchain, distributed database, currency, ledger? but maybe the best question is what it is for, what do I will or my competitors will be using it for ?
In what follows some elements that should make you think about the use of the blockchain, of course it is not exhaustive and that you can use it for many applications, on the other hand at what cost / effort .
When the need for coordination between several entities proves difficult or even impossible, blockchain can play a role; for example branches in different countries with different hours
The case of Walmart is a reference, it also meets the first need for coordination. Everything that connects a supply chain or several partners collaborates, the traceability of products and actions could be done via the blockchain
Or a validity stamp, for example, in requests for a vote or notary, in these cases it will be necessary to verify that an authority approves the blockchain, which appears to be the antithesis of the genesis of the blockchain which aimed to bypass any centralized administration.
To say today that Cocacola uses the blockchain for its loyalty offer for cafes restaurants that order the most or end consumers with a barcode is tantamount to creating a buzz because Cocacola could well succeed in doing the same thing with an application and a database of the most classic
The currency that accompanies the blockchain is not really a currency due to its non-stability, apart from stablecoins which are often indexed to Euro, Dollar, etc.
On the other hand, it is the subject of speculation and buzz, the Bitcoin variable, for example, can exceed 20% in a single day.
The real problem with blockchain, you have understood, is not in its technicality but rather in its uses, it is not only a technology that allows disruptive business models but it goes further, it could shape a new way of life and cohabitation between humans and by eliminating intermediaries, trusted third parties in many services, imagine that your main house is only registered in a blockchain, as well as your car, and your actions … that you can transfer, sell to another person without going there by any administration, notary, etc. and therefore without payment or tax, stamp and especially without the delay related to the verification of each of the intermediaries …