Where can blockchain add value?

Blockchains and their use cases have evolved significantly since the advent of cryptocurrencies such as Bitcoin and Ethereum. And for a few good reasons. The fully decentralized system lowers transaction costs, improves record-keeping and enables complete transactional traceability. These benefits make blockchains ideally suited for the hyperconnected digital era -- one in which trust boundaries between devices, networks, applications and users are being constantly redefined. But what makes blockchains credible? A blockchain’s network participants are bound by certain rules, which are continuously validated by peers. Several built-in mechanisms, including proof-of-work, proof-of-stake and consensus-based decisions ensure trust is maintained and strengthened. The… [Continue Reading]