By Wirba Brice Divine Ransinyuy. [email protected] Nowadays, we are living a second created made man world in the name of digital world. Even the things we were not expecting has gone digital. When the internet came to existence, its prime objective was to enable and facilitate communication between people, between parties and between nations. But […]
In parts one and two of “blockchain – what it is”, we discussed why the tech design of blockchain has enabled it to be adaptable for worldwide use and adoption. Unlike the internet, blockchain is all about resource and asset management as opposed to information sharing and determination. But is blockchain infallible? What is it not?
The US cryptographer whose name was David Chaum found an obscure cryptocurrency or electronic money called ecash. This happened in 1983. In 1995, David introduced him to Digicash. Digicash is the earliest form of electronic cryptographic payment that requires the user to have software to take notes from the bank.
With the coming into play of digital currencies that commonly and always work out as a decentralized market infrastructure constructed on standards-based Web3 technology, it subsequently limit the need of reconciliation, heavily improve the flowing of information, give financial market infrastructure operators necessary tools to control and overview.
Law enforcement is another sector were block chain is yet to find adoption and full implementation. As a security wing in most countries, law enforcement relies heavily on the exchange of information between countries and states.
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