Digital Assets Beyond Bitcoin: Three Blockchain Opportunities In Tech

Digital Assets Beyond Bitcoin: Three Blockchain Opportunities In Tech … Bitcoin, newer cryptocurrencies, tokens and other digital assets attract …

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Bitcoin, newer cryptocurrencies, tokens and other digital assets attract thousands of speculators, professionals and amateurs alike.

The attention is largely focused on the figures: prices, highs and lows and multimillion-dollar deals.

These numbers, however, are superficial.

For anyone in the tech industry, I believe it’s more important to understand the major trends stemming from the distributed ledger technology (DLT). In this article, I aim to summarise some of the opportunities that my team is watching.

1. Virtual Assets In Gaming

Digital collectibles have existed in computer games for decades, including swords, skins, game currencies, and more. In 2018 alone, Newzoo (via CNBC) projected that gamers worldwide would spend$138 billion on games, which represents a huge potential market for in-game items.

Currently, in-game artifacts reside on the game publishers’ servers. The owners of rare items don’t actually own anything. Meanwhile, in-game currencies are prone to inflation; for example, the USD value ofWorld of Worldcraft gold has reportedly fluctuated multiple times.

The tokenization of virtual in-game assets would create a provably limited supply. As a result, users might spend more, possibly even treating their in-game expenditures as investments. IfLego toys have already outperformed stocks and bonds, why couldn’t in-game virtual property emerge as a new alternative investment?

Widely adopted and frequently exchanged virtual in-game assets will likely require a much higher transaction throughput than most existing blockchains can offer. However, game developers can already experiment with tokenizing parts of their in-game economies.

To get around current scalability and usability limitations, you can use on-chain transactions only for in-game transfers of items between players. Other operations could still be done off-chain on your servers. That way the gameplay would remain unchanged for most players. Yet heavy spenders might pay more knowing that their items are freely tradable and that you have a limited supply.

2. Identity Management On The Blockchain

More worrying than publishers’ stronghold on in-game items to me is the fact that companies like Google and Facebook have a lot of control over our online identities. DLT-based digital IDs might become a viable alternative to centralized identity management by large corporations or governments.

In the future, I expect solutions will emerge where users control their own private identifying information (name, address, date of birth, et cetera) and use a distributed ledger to selectively confirm or reveal it. For example, a user might locally save documents to a mobile app that acts as a digital wallet with public-private keys cryptography — similar to what’s used in Bitcoin and Ethereum. Companies and other external parties could then request a confirmation of the user’s ID by creating a transaction with the user’s public key. The user would then sign the transaction with their private key, agreeing to confirm the requested information without revealing it.

The actual implementation of the DLT logic doesn’t really matter because the biggest challenge and opportunity lies in creating a smooth user experience of creating and managing their decentralized identity. The simplicity of using Facebook or Google logins sets a high bar for any alternative solutions. But anyone can experiment with new decentralized technologies.

3. Tokenized Digital Collectibles

Finally, a more exotic application is the idea of digital collectables. You might have heard about CryptoKitties selling for upwards of $100,000, and I believe that’s just the beginning.

Crypto wallets may soon be a common feature on smartphones, thanks to new browsers (for example, Opera) and smartphone manufacturers such as Samsung. As a result, wallets could also hold non-fungible tokens (or NFTs) that could represent any digital collectible.

It might seem silly, but people already hoard GIFs, sticker packages for messenger apps, and even digital “gifts.” Unlike GIFs or any other media assets, NFTs are often scarce and unique. This adds a whole new dimension to the experience of digital collecting and brings it closer to the world of traditional collections such as stamps, coins and a myriad of other items.

For apps with gamified elements, I believe that NFTs could strengthen the appeal of badges and other achievements. These rewards could enable new functionalities, be limited and tradable, create demand from other users and increase engagement.

NFTs could even be used by offline marketers as digital alternatives to traditional giveaway merchandise, such as silicone wristbands, pin badges and medals. It’s hardly possible to wear all charity merch at once, but you could collect NFTs on a single wallet to showcase the causes you support.

Uncertainty

There is a lot of uncertainty around the new opportunities we’ve explored in this post. Most of these use cases still depend on advances in user experience, transaction throughput, and general acceptance of the digital asset as something that is used beyond speculation.

To prepare for new opportunities, I believe it’s best to follow a range of use cases that are most relevant to your business and pay attention to the distributed ledger platform that is gaining the most traction. Right now Ethereum looks to be in the lead in terms of developers and applications building on top of it, but new generations of platforms will keep competing and pushing the industry forward.

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South Korea reveals blockchain plans for defense and arms procurement

… Defense Technology Quality Agency, and Korea Defense Industry Promotion Association to build the distributed ledger technology (DLT) solution.

On the 29th July, South Korea’s state Defense Acquisition Program Administration (DAPA) announced that it is working with multiple other agencies for an interoperable blockchain system. The arms procurement department hopes to create a more transparent and fair platform for military administration.

Three days before the announcement, DAPA made an agreement with the National Defense Science Institute, Defense Technology Quality Agency, and Korea Defense Industry Promotion Association to build the distributed ledger technology (DLT) solution.

They plan is to use blockchain to track the entire bidding process from the receipt of proposals to the evaluation of bids on defense contracts. Ultimate this should reduce the risk of fraud and increase efficiency by using one system between them. South Korea’s military funding programs will also be logged on the blockchain.

DAPA has selected firms Abydos and IBCT for the technology side of the project. Last week’s release claims it has been working with the companies since April when the organization first published its intent to use blockchain technology.

As revealed back then, the Defense Technology Quality Agency will indeed be part of a blockchain application for weapons logistics. Sensitive documents approving munitions being transported and delivered will be managed with DLT to protect against hacking and provide trustworthy data.

Kim Tae-gon, the Planning and Coordination Officer of the Defense Business Administration, stated: “We will continue to find ways to expand the blockchain through cooperation with the contracting organizations so that the [new technology] can be applied effectively and efficiently in the field of defense business.” (via Google Translate)

Last month KT, South Korea’s largest telecoms firm, announced a blockchain-based security service for connected devices via satellite. It appears the company is also hoping to apply blockchain in the military, for instance authenticating remote access to naval CCTV.


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Polaris Transport: scalable digital transformation of core logistics processes

… Machine Learning (ML), Artificial Intelligence (AI), Internet of Things (IoT) and Distributed Ledger Technology (DLT) capabilities, among others.

Canada’s Polaris Transportation Group, renowned for its cross-border less than load (LTL) service, is at the cutting edge of technological innovation in the supply chain sector. In January 2019, the company launched NorthStar Digital Solutions (NDS), both an in-house digital laboratory and separate business entity, to drive the advancement of its technology platforms, intelligent document processing, Robotic Process Automation (RPA), Machine Learning (ML), Artificial Intelligence (AI), Internet of Things (IoT) and Distributed Ledger Technology (DLT) capabilities, among others.

Dave Brajkovich, CTO at Polaris and NDS, says the new company offers Polaris, as both a customer and an owner, a level of innovative dedication that is demonstrably lost by internal and integral IT teams attempting to steer a digital transformation. “It’s not uncommon that, under one IT wing, things can quickly become disjointed – IT begins to manage network, infrastructure, application, and helpdesk which distracts from a focused transformation,” he explains. “We saw an opportunity to drive technology and optimization as a separate entity, and become a profit center that can take the solutions we’re providing to Polaris and package them up as Software-as-a-Service (SaaS) solutions for transportation and customs brokerage clients, and beyond.” The close relationship between Polaris and NDS enables a flexible and practical testbed for innovation, with newly developed solutions being piloted, tested and production hardened at Polaris before being sold on to external companies. “We end up learning a lot from these programs and enhancing the technology to fit and solve business needs rather than creating technology and finding a problem to solve.”

A main staple for Polaris is customs document processing for clearing freight to cross the US and Canadian borders, and this offers a perfect example of the company’s successful transformation efforts. As this can carry myriad complexities and duplication in work efforts, Polaris needed to streamline the task and reduce the touchpoints of handling paperwork. The process of moving paper is highly inefficient and labor intensive for all players involved, including the Client, Carrier, Customs Broker and Border Agencies. “By implementing our RPA and ML platform (a powerful WorkFusion enterprise grade automation engine with the NDS IP workflow solution), to manage Straight Through Processing (STP) for our intelligent document processing, our turnaround time and error rates were significantly reduced to levels beyond our expectations,” says Brajkovich. “It also added capacity for our staff to focus on exception management rather than clerical administration. We can now run this operation 24/7 and scale to the business order demands, and we’re proud to state that we are now driving 80% of our customs paperwork processing through fully automated workflow.”

“We’ve proven that we can take a company that from a very segregated, siloed system to a company that is lean, efficient and technologically scalable” – Dave Brajkovich, CTO, Polaris Transport

Of the aforementioned technologies, Polaris’s DLT platform is perhaps the most emblematic of the firm’s ability to bring complex concepts through to fruition quickly and effectively. “Our CEO, Dave Cox, had an inkling to learn more about blockchain,” says Brajkovich. Following an event that illuminated the tech’s qualities, Cox began to see a potential use case for it within Polaris. The firm subsequently partnered with IBM to generate various DLT-based solutions applicable to their operations, with significant success. “One of our use cases for a minimal viable product was an outcome to achieve consolidation and reconciliation for the interline invoicing process,” says Brajkovich. “We found that the process was lagging, though not in terms of digitizing the data because it moves through electronic data interchange (EDI) transformations anyway. The challenge is that EDI is not dynamic – it’s very static, it comes in batches and waves – and so the freight can be received by points of delivery where we may not get the data back into our systems accurately or in a timely fashion.”

This problem causes both delays and a labor-intensive process of collating documents to confirm payments, with those documents changing hands repeatedly. The solution is a DLT-based smart contract platform that runs those transactions through Polaris’s hyperledger cloud and relays the data to all relevant parties. “What we’ve created is a universal system where we can guarantee that my A is their A,” says Brajkovich, highlighting DLT’s ability to serve as a single, current source of truth. “Everything is tracked and traced: it’s immutable, it’s not going to change, but it can be revised. As the information flows from one system to another, we know exactly where that data flow is.” Not only does the solution provide this reliability and traceability, but it massively increases the speed with which parties can access the relevant information. “Once the transaction is completed, we have a full audit trail,” summarizes Brajkovich. He adds that the process minimizes paper wastage, maximizes accuracy and eradicates data-based disputes, as well as having the flexibility for additional partner channels to be added as necessary.

NDS is currently developing additional IoT-driven solutions to augment with this process, offering real-time tracking data without necessitating additional human input. “Our claim to fame here is that we’re very strong integrators,” says Brajkovich as he explains the foundation of the firm’s IoT success. “We have talent that understands not only the operations and processes involved with the transportation and LTL freight movement, but we have a very strong enterprise service technology layer that enables us to connect multiple technologies and platforms through APIs (application programming interfaces).” With IoT naturally creating numerous endpoints at the edge of the network, this knack for integration significantly accelerates NDS’s and Polaris’s time to market for additional IoT capabilities. “Currently, we are active through an IoT process for our electronic logging devices (ELDs), used for truck driver mandates and tractor data logging. We capture data from the ELDs, as well as from Blackberry devices tracking our trailers’ capacity, volume and location. We have between 160 and 180 trailers, and they’re all tracked.” The data is routed back through the company’s legacy API system, exemplifying the company’s ability to integrate technological solutions successfully. Looking forward, Brajkovich says NDS’s IoT ambitions are yet to be satisfied, and plenty of exciting new innovations are on the way.

The firm is piloting a new product that tracks drivers’ locations through their mobile devices, enabling visibility of delivery routes, delivery cycles, and access to various timeframes for cycle completion. “It’s quite revolutionary in commercial freight movements,” says Brajkovich. “Most clients don’t get that kind of visibility. They have to call customer services, who themselves have to track those trucks and have more room for inaccuracy. This way, it’ll be a holistic view of where our trucks are.” In addition to this novel approach to visibility for clients, NDS is developing a brand new form of IoT technology. “We’re working with a couple of GPS manufacturers to develop a disposable GPS tracking device that we could directly tag to the freight, as well as working with telco companies that could provide us with low-cost cell coverage at a palatable price point that clients can absorb,” enthuses Brajkovich. “In return, they would get active tracking at the freight level.” He notes that perhaps the most vitally innovative element of this research and development is the proposed disposability. “When it is received at the last mile, the GPS will simply turn off as its battery expires and can then be easily disposed of,” he says. Enabling visibility in such a dynamic, seamless fashion would stand to differentiate the firm’s prowess even further from the competition.

Ultimately, Brajkovich credits NDS and the strength of its partnerships with the success of Polaris’s technological innovations. “NDS, powered by strong partners like WorkFusion, Softchoice, Stratiform, Simnet and Fiorano has enabled us to launch some really dynamic offerings using tools that might not be at the bleeding edge, but certainly within the cutting edge,” he says. “We’ve proven that we can take a company from a very segregated, siloed system that’s hard to integrate and communicate within, to a company that is lean, efficient and technologically scalable. The ability for us to be able to look internally and externally, and really prioritize the most vital projects means we can leap instead of baby-step everything through.” Polaris Transport, in that regard, has landed upon a holy grail of digital transformation: agility, scalability, and a time to market that brings core innovations to the fore, benefitting both the company and its all-important clients.

Polaris Transport: scalable digital transformation of core logistics processes
Polaris Transport: scalable digital transformation of core logistics processes
Polaris Transport: scalable digital transformation of core logistics processes
Polaris Transport: scalable digital transformation of core logistics processes

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Volvo Cars Manufactures First Cars Having Recycled Cobalt Mapped with Blockchain

Carmakers are now delving into distributed ledger tech to develop an unchangeable ledger first utilised for Bitcoin (BTC) plus other digital assets and …
Aug 05, 2019 at 14:31 // News
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Coin Idol

Companies producing cars having been experiencing burden from massive clients and investors.

Volvo Cars, a Swedish luxury vehicles firm and a subordinate of the Chinese automotive firm Geely, has manufactured the first-ever cars having reprocessed cobalt delineated with the help of blockchain tech and has further entered an isolated initiative to oversee cobalt from different mineral-rich countries including DR Congo (DRC), Uganda and others.

Companies producing cars having been experiencing burden from massive clients and investors demanding that electric cars should not depend on conflict minerals or any form of illegal labor such as using slaves or children. Carmakers are now delving into distributed ledger tech to develop an unchangeable ledger first utilised for Bitcoin (BTC) plus other digital assets and increase accountability during the course of supply chains.

Volvo Cars revealed that it had finished the first cars distributed ledger tech (DLT) using reprocessed cobalt in the People’s Republic of China (PRC). It targets to bring complete lucidity and traceability of minerals especially cobalt in supply chains.

The DLT was created by Circulor, a UK blockchain expert with the high-quality knowledge from the United States global computer tech firm Oracle Corporation and is likely to be launched in 2019.

Digging Deep in Cryptoasset and DLT

Participants engaged in pursuing minerals believe that the use of blockchain tech will add a brick in transforming the supply chain sector, however, they think DLT alone isn’t the solution.

They are experimenting how inserting data from every phase of a mineral’s voyage into a distributed ledger tech can increase accountability and further keep away disagreements between logistics & transportation firms and customers.

Although DLT has proved to be one of the most reliable technologies in the world, the community should remember that no technology can totally substitute due diligence. What it will do is increase implementation of standards by stressing when activities are not functioning as planned.

Previously, Oracle Corporation offered tech for DLT-based initiatives intended to prove the source of olive oil so as to lower down costs by restructuring international banking payments. Other giant blockchain-friendly companies such as Facebook, Microsoft, IBM, Walmart, Ford, Daimler AG, Samsung, Toyota, Frasindo, Mercedes-Benz and others are also working on different DLT projects that will help transform the blockchain and cryptocurrency industry and further increase of daily life.

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Dagchain versus Hyperledger | Comparison 2019

That is the point at which a pseudonymous individual or a group of individuals called Satoshi Nakamoto distributed a paper reporting the new …

Blockchain innovation has been around since 2008. That is the point at which a pseudonymous individual or a group of individuals called Satoshi Nakamoto distributed a paper reporting the new innovation. From that point forward, cryptocurrency dependent on blockchain advancements, as Bitcoin and Litecoin, have multiplied broadly.

Such a large number of digital currencies have jumped up over the previous decade that the entire subject can feel overpowering. In this article, we’ll demystify the ideas of digital money and the innovation that it’s based on and talk about the contrasts among Dagchain and Hyperledger.

Hyperledger

Dagchain HyperledgerDagchain Hyperledger

The Hyperledger venture is a communitarian exertion propelled by the Linux Foundation in 2016. Its expressed point is to unite individuals from various ventures so as to investigate the uses of blockchain innovation. The Hyperledger task does not have its own cryptocurrency. It plans to progress blockchain innovation and think of new uses for it.

Hyperledger’s individuals incorporate pioneers from the banking, figuring, and aeronautics ventures. Its individuals incorporate Airbus, American Express, Cisco, and Deutsche Bank, to give some examples.

Hyperledger records a scope of various activities on its site, all including better approaches to utilize blockchain innovation. For instance, the project known as Burrow is gone for improving the manner in which keen contracts work, and the Hyperledger Quilt is intended to make installments and exchanges simpler crosswise over various records.

Issues with Hyperledger

The Hyperledger venture has created a few advancements in the field of blockchain innovation, yet the project works in an unbending top-down design. The general population and gatherings that remain to profit the most from it are as of now in the worldwide one percent. The Hyperledger project needs clear and quick advantage for the vast majority of the world’s residents, particularly for those in developing countries.

Dagchain

Dagchain is the innovation that backs the cryptocurrency known as Dagcoin. It was made because of the deficiencies in blockchain innovation, which we’ll get into later in this content piece.

Dagcoin

Dagchain HyperledgerDagchain Hyperledger

Dagcoin is the money sponsored by Dagchain. It was considered with the objective of making a decentralized digital currency for use in developing nations. The thought was to enable common individuals to adapt to a general sense uncalled for framework and to help individuals manage the issues brought about by money depreciation.

The Dagcoin cryptographic money is planned to be much the same as a normal cash, just better. Rather than simply one more item to trade, Dagcoin will likely be the most usable currency ever.

Dagcoin expects to be a stage up from normal cash also. This implies improving the speed of exchanges while diminishing the cost, offering access to cash to more individuals with lesser confinements and impediments, giving more opportunity to execute.

How Is Dagchain Different from Hyperledger?

Dagchain does not work on a blockchain arrangement. It’s anything but a progression of blocks; rather, each different exchange frames its own block. The blocks are then connected to past exchanges so as to shape what’s known as a coordinated non-cyclic chart, or DAG.

The Dagchain was intended to be brisk moving and solid enough to back a typical currency. It was intended to democratize cryptocurrency and increment its versatility. While industry pioneers and huge business are free to utilize Dagcoin, the innovation was initially intended for use in the developing scene. It was planned to keep running as easily as could be expected under the circumstances and to be available to individuals who might not have foundations in innovation.

In contrast to different digital forms of money, it doesn’t depend on miners/diggers to affirm exchanges. Dagchain has each new individual from the system affirm in any event one past exchange. This implies there is no two-level framework, as there is in different cryptocurrencies, in which miners/diggers are advantaged over different clients. It likewise implies that there is a motivating force to keep Dagchain working rapidly, since each new client needs to affirm past exchanges before including their own exchange.

The Breakdown:

Dagchain is new innovation that looks to cure issues that emerged with blockchain innovation. It makes digital currency available to individuals around the globe. It Speeds up the affirmation procedure for exchanges and wipes out the two-level framework in many cryptographic forms of money.

Hyperledger runs on blockchain innovation, backs blockchain undertakings bolstered by figuring, aeronautics, and banking pioneers. It does not host a cryptographic money.

Concluding Thoughts

Dagchain and Hyperledger differ in the way they work just as in their planned uses. Albeit both have their underlying foundations in blockchain’s “distributed ledger” framework, Hyperledger means to investigate new uses for blockchain, while Dagchain stays away from it altogether with an end goal to expand exchange speeds while diminishing or wiping out expenses.

They were additionally made considering entirely various uses; Hyperledger expects to streamline installments and exchanges for enormous banks, while Dagcoin was imagined with an end goal to make a steady, decentralized cash to help clients in creating nations. On its way of becoming the cryptocurrency of the future, Dagcoin also educates the masses through marketing by providing knowledge about the benefits of digital currencies.

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