Every once in a while, a technology
comes into play to liberate Humanity and make a major course
correction in the world. That Technology is Bitcoin, and more
Specifically the Blockchain technology.
Today there are several articles from
other sources that show the Blockchain Technology making huge changes
in the way things were. Banks going to Blockchain to prevent
Centralized Money Laundering, Blockchain integration to keep open
source ledgers to keep an eye on Businesses, and much more. Take a
look at these stories.
A couple
weeks ago, AWS (Amazon Web Services) experienced a failure that
impacted a large swath of popular services that we increasingly
depend on to manage our digital lives. Consider the online
collaboration service Slack; many people belong to several Slacks
channels. When Slack promises instant archival and recall of
important information, but depends on Amazon for storing these
attachments, these expectations are shattered when the fragile
underlying infrastructure is compromised.
And while
“cloud” services like Amazon, Azure and Google offer fixes to the
problems of scaling for millions of users, several other important
problems remain unaddressed, especially as we transition to an age
where even the lowly web browser is capable of video calls via
peer-to-peer technology.
This is a
concept Skype first introduced to the internet before their eventual
purchase by tech giant Microsoft. Today, Skype is much more
centralized and thus vulnerable as a target to would-be attackers.
The original vision of Skype is not dead; rather, it is no longer
restricted to the desktop. Instead, it can exist purely on the web.
When
an E.coli outbreak at Chipotle Mexican Grill outlets left
55 customers ill,
in 2015, the news stories, shutdowns, and investigations shattered
the restaurant chain’s reputation. Sales plummeted, and Chipotle’s
share price dropped 42%, to a three-year low,
where it has languished ever since.
At the
heart of the Denver-based company’s crisis was the ever-present
problem faced by companies that depend on multiple suppliers to
deliver parts and ingredients: a lack of transparency and
accountability across complex supply chains. Unable to monitor its
suppliers in real time, Chipotle could neither prevent the
contamination nor contain it in a targeted way after it was
discovered.
Now, a slew
of startups and corporations are exploring a radical solution to this
problem: using a blockchain to transfer title and record permissions
and activity logs so as to track the flow of goods and services
between businesses and across borders.
Delaware is Drafting Law That Would Recognize Blockchain Records
Delaware
is inching closer to using blockchain as a means to create and manage
corporate records.
Though
the process is in the early stages, a group within the Delaware State
Bar Association's Corporation Law Section has released a
proposed piece of legislation that
would establish a legal basis for using the technology for this
purpose. Specifically, it would amend the state's General
Corporation Law to account for blockchain use.
There is no doubt that this technology, and it's currency is a major player in world changes. While Bitcoin and all other Litecoins have leveled the monetary playing-field, The Blockchain has set new innovation to bringing transparency and honesty back to the world.
