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How Blockchain Will Change Your Life

Thursday, 10 November, 2016

“Blockchain offers a way to track items or transactions using a shared digital ‘ledger.’ Blocks of new transactions are added at the end of the chain, and encryption ensures that it remains unbroken—tamper-proof and error-free. This is significantly more efficient than the current methods for logging and sharing such information.”

So writes Ginni Rometty, chairman, president and CEO of IBM, in today’s Wall Street Journal. She says IBM estimate that applying blockchain to global supply chains could generate more than $100 billion in annual efficiencies. “More than 80 leading finance and technology organizations, including IBM, have joined the Linux Foundation Hyperledger, a project aimed at creating an enterprise-grade blockchain framework. More than 600 additional firms have already applied to join the consortium,” she adds.

blockchain

Meanwhile, the World Economic Forum has created a new working group on blockchain co-chaired by the former president of Estonia, Toomas Hendrik Ilves. The goal is to explore how the blockhain “could impact industry, governments and society in the future, and design innovative governance models that ensure that their benefits are maximized and the associated risks kept under control.”

Blockchain resources:

Networking: The Blockchain Linkedin Tech Group
News: Blockchain Tech Report
Bitcoin: Coindesk


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