Importance of Blockchain in Business

Welcome to the discussion about this lecture. Here you can ask questions or post feedback about this specific lecture.

1 Like

The title has a typo, it should read, “The Importance of Blockchain Business” or “Importance of Blockchain Business”.

Just keeping ourselves top-notch and classy, :kissing_heart:

1 Like

Guatever! Hehe. I guess we can make language whatever we choose.

2 Likes

Just wanted to say I’m very happy to be here in this course, I believe it will be awesome.
Thank you for your hard work to put it together.

2 Likes

So far, all the examples I come across ONLY in financial and banking applications.

But Blockchain promises a lot, how to explore other areas (non financial) ex. smart city, smart grid, media distribution with copyright protection, give some tips.

2 Likes

Blockchains are still very limited. They are link dial up internet but it’s just a matter of time before high speed HD streaming become possible. Ivan I am glad you point out the weaknesses but understand the growth potential. It gives a more full picture of a technology to believe in.

Block chains are being inducted into businesses for the decentralized control & trust less approach to governance of the system. Copying and maintaining the same ledger on every participating clients inherently reduces the efficiency of the system when storage is considered as a factor. This proportional hardware requirement to maintain the blocks in the chain and the power consumed to fuel the transactions and maintain the chain keep rising at an exponential rate. Are there any studies that quantify the hardware side, power requirement, storage needed, speed of transactions etc with the basic units of Blockchain Ecosystem.

2 Likes

Ganesh -
Great point. I contemplate this often and am working toward the media distribution/copyright perspective as well…

What are your thoughts on utilization of tech such as VeChain’s cold chain logistics and others ? … studying these could be interesting …
https://www.vechain.org/#technology

Are we thinking in the right direction Ivan ?

1 Like

Once information registered in the blockchain, nobody could manipulate it. Nowadays, everywhere is filled with fake information.Once blockchain applied into the blockchain business, it will make the world more being wonderful.

2 Likes

I might be an old retired fart, but it constantly astonish me how far behind the youthful minds of company’s are. Many will be left behind if they don’t jump on this wagon.

1 Like

Hi Ivan!

I am loving this course! This course is EXACTLY what I need now, and will use again! Presently, I am learning a business model that is very intricate, with lots of regulation. So many details!

I’ll run it all by you here in NY in February. However, I think it can be a watershed in bringing blockchain to healthcare.

See you in Manhattan!

1 Like

Hi @trycryptos would you mind sharing perhaps a couple of the studies?
…that quantify the hardware side, power, storage with respect to nodes needed, transaction speed and volume required.
This units system also sounds like a good guide to use! Where did you see it?

Thank you.

hello, same thoughts. Maybe VeChain is not exactly the most fitting. @ivan hey, do you have any ideas maybe?

Hi @Ganesh tips on other industry use-cases, some that are easy to find are on Hyperledger: Maersk - shipping & logistics, Food Trust (by IBM https://www.zdnet.com/article/walmart-implements-ibms-blockchain-for-food-traceability/) or Trace-ability of source by WaBi.

1 Like

@1113 information can still be manipulated and reversed on the block chain. B. Vitalik reversed some transactions on when there were issues between Ethereum and Ethereum Classic. Although, it is rare with the authority and consensus of community votes

I think for reliability and scalability, each ledger running a full node must comply with minimum SRS to ensure that the whole chain is no dragging as the block size increases. Also there might be pluggable nodes to support ledgers that are note full nodes.

1 Like

Hello fellows,
For some Live blockchain examples in business or public, you can check out a page I take care of @IBM… http:// ibm.biz/IBMServicesPortal

a few good examples in Blogs: https://www-01.ibm.com/easytools/runtime/hspx/prod/public/X0027/PortalX/page/pageTemplate?c=ad67cc0e40264a828e4f32306468a768&s=420f47624f3b4f239fcca260302abdef

The blockchain sounds like an important invention.

Blockchain is very important in all future business models, which will add transparency and trustless.

1 Like

Importance of block-chain in business:
companies and different kind of organisation are very dependent to internet/intranet structure which is all trough the centralized infrastructure. This situation is creating a lot of trust and security problems. To minimize this problems business word needs to find the best block-chain protocols that can help them to build up their own intra-block-chain structure on an a verified block-chain protocol.

1 Like