BlockchainBlockchain - part 6/7 of "7 modern trends that every IT Pro should know about"

Blockchains will revolutionize and disrupt many industries.

Esp. finance and banking, real estate, healthcare and others.

Blockhains enable decentralization and transparency

No one can control or manipulate the data on a blockchain

Properties of blockchain

• Data once entered cannot be changed by anybody.

• It is an open transparent ledger with the transactions being visible to all participants.

• It uses strong military grade cryptography.

• Blockchains use peer 2 peer (p2p) communications.

Properties of blockchain

• They can be public/permission-less OR they can be configured to be private.

• Consensus is achieved via different algorithms. The most popular consensus algorithms are "Proof of Wok" and "Proof of Stake".

• Blockchain applications and data cannot be shut done or censored.

• Can be used for value transfer.

Bitcoin is by far the most popular application of blockchain technolgy as of today. But that will rapidly

change as more industries are being disrupted by blockchain.

Another popular adoption of blockchain technology is being done by Ethereum which can be used to pass on value just like bitcoin but provides additional features like smart contract built into it.

Major use-cases of blockchain technology

1. Digital gold and other investments2. Electronic payments3. P2P file storage4. P2P web protocol5. Tokenization of assets like real estate,

automobiles and more6. Insurance7. Healthcare

For Blockchain and distributed application

developmentcontact us at

ibm@appworx.cc