“There’s a million vehicles on the road that have ‘washed’ titles, which means there is fraud there. The insurance industry is hit with billions in fraud because of missing information, drivers providing the wrong information and inaccurate reporting.” Source: 2 Crypto Startups Want to Put 10 Million Used Cars on a Blockchain – CoinDesk, Ian…Read More
Speaking about this, Casey Kuhlman, CEO and co-founder of Monax, which is a member of the Enterprise Ethereum Alliance (EEA), said that other companies have built systems to help them understand where their money is, where their inventory is, and where their employees are in terms of their holidays. “But what drives money, and inventory,…Read More
More Investment Opportunities Not just in quirky, unknown cryptocurrencies with unproven use cases – blockchain technology makes it possible to offer and track investments in a whole range of asset classes that traditionally have been the preserve of institutional investors and the wealthy. For example, tokenization lowers the bar to entry for investment in property,…Read More
Treasury management There were a variety of ways to go “long” on crypto yet avoid exposure. One dominant strategy: don’t do an initial coin offering (ICO). In short, the prevailing wisdom is companies should build for crypto without exposing their payroll and rent money to its volatility. One advantage to going the route of traditional…Read More
The biggest obstacle to widespread blockchain adoption, says Higginson, is what business theorists call “co-opetition,” a fancy word referring to when competitive companies and industries agree to share information. Getting there is a problem. “Resolving the co-opetition paradox and clearing a path to majority adoption seems like the most important obstacle,” said Higginson. Due to the co-opetition problem, the implementation of blockchain pilots is “plagued by either a single player pushing their monopoly solution” or there is “no single organization taking the lead to invest sufficiently to move from pilot to enterprise-scale implementation.”
Source: Terence Corcoran: Blockchain’s groundbreaking, world-shaking, life-changing technology revolution has been cancelled | Financial Post, Terence Corcoran, January 9, 2019Read More
In 2015, the Federal Aviation Administration accused the American Airlines of committing maintenance fraud. The issue was reported by mechanics working in American Airlines who noticed “aircraft maintenance discrepancies in accordance with required manuals, procedures and the Federal Aviation Regulations.” If a blockchain technology was adopted, chances for such deviations could be minimal (if not…Read More
Meanwhile, McKinsey & Company, considers blockchain technology to have practical value in other areas. Examples are found in insurance, supply chains, and capital markets, in which distributed ledgers can tackle pain points including inefficiency, process opacity, and fraud. Source: McKinsey & Company: Blockchain Technology Isn’t Living Up to the Hype – Bitcoinist.com, Georgi Georgiev |…Read More
“Do you really need the Merc (the Chicago Mercantile Exchange)? Do you really need people doing that trading? It could become commodity trading without commodity traders. You can trade commodities and have proof positive that you bought it, you hedged it, you transferred it and it’s gone to the warehouse, all done from your desk, and its data you can trust,” Kennedy said
Source: Blockchain altering ag commodities trading, John Hart | December 05, 2018Read More
Player ownership of game assets is one core area. In traditional video games, in-game items and player characters are owned by game developers. They, and the games, are often run on servers. Storing the items and characters on the blockchain allows for a decentralized, immutable record of ownership that can be separate from the gaming company and its servers.
This, in turn, can help make in-game virtual assets more valuable, liquid, and worth collecting, as players in essence own the virtual items. Trading in-game virtual assets on the blockchain through smart contracts allows for peer-to-peer transactions that can be accessed by anyone on the blockchain, negating the need for centralized control. At the same time, it removes some of the issues connected to fraud.
Source: How Blockchain Is Changing Computer Gaming, Marc Prosser, December 01, 2018Read More
Once a patent is validated by relevant authorities, it will be available for investors to purchase using an inbuilt bidding system. Meanwhile, blockchain technology will ensure transparency and security is maintained at the highest level for the trading of intellectual property.
Source: Indian State to Launch Blockchain-Based IP Marketplace in Bengaluru, Akshay Makadiya, December 2, 2018Read More