link3087 link3088 link3089 link3090 link3091 link3092 link3093 link3094 link3095 link3096 link3097 link3098 link3099 link3100 link3101 link3102 link3103 link3104 link3105 link3106 link3107 link3108 link3109 link3110 link3111 link3112 link3113 link3114 link3115 link3116 link3117 link3118 link3119 link3120 link3121 link3122 link3123 link3124 link3125 link3126 link3127 link3128 link3129 link3130 link3131 link3132 link3133 link3134 link3135 link3136 link3137 link3138 link3139 link3140 link3141 link3142 link3143 link3144 link3145 link3146 link3147 link3148 link3149 link3150 link3151 link3152 link3153 link3154 link3155 link3156 link3157 link3158 link3159 link3160 link3161 link3162 link3163 link3164 link3165 link3166 link3167 link3168 link3169 link3170 link3171 link3172 link3173 link3174 link3175 link3176 link3177 link3178 link3179 link3180 link3181 link3182 link3183 link3184 link3185 link3186 link3187 link3188 link3189 link3190 link3191 link3192 link3193 link3194 link3195 link3196 link3197 link3198 link3199 link3200 link3201 link3202 link3203 link3204 link3205 link3206 link3207 link3208 link3209 link3210 link3211 link3212 link3213 link3214 link3215 link3216 link3217 link3218 link3219 link3220 link3221 link3222 link3223 link3224 link3225 link3226 link3227 link3228 link3229 link3230 link3231 link3232 link3233

IT leader’s guide to the blockchain

IT leader’s guide to the blockchain

  

The blockchain may hold significant opportunities for the enterprise

from financial services to IP protection to job documentation. This ebook looks at what the blockchain is and how it could affect your business. The blockchain is a record of every Bitcoin transaction. The name comes from the method by which Bitcoin is unlocked and available to be mined by the public. The code releases nodes in 1 MB chunks, or “blocks,” approximately every 10 minutes. Every coin, and every transaction related to it, is logged. Because the blockchain is available to anyone and contains metadata similar to a bank statement, the code is often referred to as a “public ledger.”

The database is cryptographically secure, and the chain is reliable and can be used to develop applications and protocols that require transparency and complete security. The primary advantage of money—like dollars, euros, and Bitcoin—is that the currency is understood by everyone, yet can be controlled by individuals or institutions. The blockchain, and Bitcoin, offers the additional benefit of transparency. Code, rather than a government, dictates the supply of Bitcoin.

Corporations, small businesses, and individuals all need to be aware of the blockchain. Because the blockchain allows financial transactions to occur anonymously, the technology has empowered the growth of questionable, sometimes illegal, behavior. In recent years ransomware has become a popular method of extorting consumers. Black markets have exploded in popularity. These markets exist on the Dark Web and allow hackers to buy and sell stolen data, zero-day exploits, drugs, weapons, and humans. The United Nations, the FBI, and other law enforcement agencies attempt to track illicit Dark Web transactions, but Bitcoin-based markets continue to flourish.

Well-funded startups also use the blockchain. It's data-rich, secure, and offers unprecedented transparency, so the code can be used as the building block (pun intended) for numerous modern, and future, technologies and startup companies. Etherium, for example, is a blockchain startup that helps enterprise companies develop private chains and private currencies. Mycelium builds physical point-of-sale systems and debit cards for cryptocurrency.

Chuck Reynolds
Contributor

Alan Zibluk Markethive Founding Member