Blockchain is a combination of two long-standing technological developments.The first one is distributed ledger technology, and the second one is cryptography. The same holds true with bitcoins as a cryptocurrency. Its base is the blockchain which sits on the two old technologies. We see how human innovation is truly avoiding reinventing the wheel and the efforts are paying off.
By Lumai Mubanga. [email protected] Due to the potentially higher costs related to the mining of bitcoins, mining pools were born. Just what are they and what are some pros and cons? Before we explain mining pools, let us briefly explain the types of bitcoin miners. Bear in mind that types of miners are different from […]
Sensitive users will now be able to purchase any time with a clear conscious because they will have known everything about the product before purchasing it. Indeed, when fully-fledged, sensitive users will find block chain more appealing.
Blockchain deals with digital documents and any authentication to be done in the system will demand the use of digital authentication mechanisms. As such, all documentation is ‘stamped’ with digital signatures.
When bitcoin was invented, it had clear goals of eliminating the controlling financial authorities over personal funds. It aimed to eliminate banks and other financial institutions and give power back to the owners. However, when enterprise blockchain became popularized, blockchain found fertile soils for easy incorporation into its genetic code. Diverse applications resulted.
The insurance market is one of the largest and dynamic industries. It is one industry where quick decisions need to be made based on real and authentic data as well an industry fraught with fraud, inefficiency and unprocessed claims amounting to billions of dollars. How will blockchain technology help such an industry?
by Lumai Mubanga Legal tender is usually government-issued and controlled. It is regarded, as a national assert recognized and used as legal tender in other neighbouring countries. Legal tender is also regarded as national pride and a sign of sovereignty. Some more powerful legal tender currencies like the US Dollar are also used as reserve […]
In this article, we continue to look at that comparison by considering other features that make it unique and adaptable for worldwide use such as distributed, a chain of blocks and process integrity.
In spites of all the enthusiasm and hopes brought by blockchain, it is not a magic bullet for every type of problem or challenges. Many applications continue to be developed for different sectors but not all applications will be blockchain-based. This article looks at which applications may or may not be suitable for adoption on the blockchain technology.
While the developed countries easily adopt these technologies easily because of their educated populace and advanced infrastructure, the developing countries have their own challenges that make them either delay or forego the adoption. This article will highlight the most likely barriers developing countries will likely face in adopting blockchain.
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