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.
- 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 is more complex than before.
- Difficult for customers or buyers to truly know the value of products.
- All process with IoT gaining transparency
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)
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.
- Crowdfunding (Kickstarter, IndieGogo). Most of the time we don’t know where the money is.
National Identity Management Systems
More transparency to manage citizen’s data.
Tax and Internal Revenue Monitoring
Dubai and Estonia
* Share your own data
* Portable around the world.
* 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.”)
* Title records
* Transparency on property improvements
* Easy to mapping available properties to buy, real time updated.
* Possibility to gain younger investors (equity fund).
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