006. Blockchain industries

Hey guys! Welcome back to a new episode on The 4Geeks Podcast. Today we are talking about Blockchain, and it can be used to disrupt some industries.

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Banking, Supply Chain, Security, Insurance, Crowdfunding, Government, Health, Online Music and Real Estates are some industries that we talked about on this episode.

Banking:

  • Citi Coin, from Citi Bank. (“equivalent to bitcoin”).
  • HSBC has made what it claims is the world’s first commercial trade-finance transaction using blockchain.

Supply chain:

  • Supply chain is more complex than before.
  • Difficult for customers or buyers to truly know the value of products.
  • All process with IoT gaining transparency

Security:

Blockchain-based systems don’t have a single place to attack due to the technology’s basic principles, where each block is immutable and cryptographic.

Each block has previous hash references (composed from the data)
Proof-of-work (latency) and proof-of-stake(based on percentage)

Insurance:

Fraud: $40B a year in loses for fraud, paperwork process increase fraud. Eliminate double booking, ownership and reduce premium division.
Health insurance: records secured and shared between.

Charity:

  • Crowdfunding (Kickstarter, IndieGogo). Most of the time we don’t know where the money is.

Government:

National Identity Management Systems
More transparency to manage citizen’s data.
Tax and Internal Revenue Monitoring
Voting
Dubai and Estonia

Healthcare

* Share your own data
* Portable around the world.

Online Music:

* Listen directly from artists
* April 2017 — Spotify acquires blockchain startup Mediachain to solve music’s attribution problem … Mediachain is an startup based on NYC (“they will work on developing better technology for connecting artists and other rights holders with the tracks hosted on Spotify’s service.”)

Real Estate:

* Title records
* Transparency on property improvements
* Easy to mapping available properties to buy, real time updated.
* Possibility to gain younger investors (equity fund).

Hosts: Allan Porras and Sergio Monge.

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Listen to Quebrando El Cero, a podcast by Allan Porras.