About Blockchain

[scroll down for links to relevant articles (periodically updated)]

What is blockchain technology?

Blockchain technology provides the infrastructure for the bitcoin cryptocurrency. Sometimes, it is referred to as “distributed ledger technology.” Instead of a centralized database that is centrally managed, blockchain technology relies on a ledger of transactions that is maintained simultaneously on a distributed network of servers. The ledger contains a historical record of transactions (“chain”). Validated transactions are added to the ledger in groups or “blocks” using cryptographic methods to ensure the integrity of the transactions.

Why use blockchain technology?

Answer: Use blockchain if the drawbacks of using a centralized database outweigh the advantages.

• Users do not all trust central database manager
• Costs of making centralized database sufficiently reliable are too great
• Integrity and accessibility are important and confidentiality can be managed sufficiently
• Performance is not an issue

Examples:

• Create a verifiable record of any data or business process on the blockchain
• Create a tradeable digital token that can be used as a currency, a representation of an asset, a virtual share, a proof of membership or anything at all
• A smart contract that governs all phases of a typical trade agreement from order, shipment and invoice to final payment
• Value can be exchanged between devices in the form of data, network access, currencies such as Bitcoin, compute cycles, contracts for ongoing service, trusted introductions to other devices, and more

Besides the offerings of the five presenting companies, we plan to discuss how blockchain technology can be used in Healthcare and with the Internet of Things. Some of the topics include:

• Overcoming data silos currently affecting electronic medical records
• Confirming the provenance of data generated by remote monitoring devices
• Confirming the integrity of firmware on network-connected devices
• A data economy for sharing data generated by individuals and devices

Resources:

ARTICLE LINKS:

“With strategic investment from Guardian, PokitDok sets sites on blockchain” – March 10, 2017 – http://www.mobihealthnews.com/content/strategic-investment-guardian-pokitdok-sets-sites-blockchain

“Google’s DeepMind developing blockchain-like tech to track health data” – March 10, 2017 – http://www.mobihealthnews.com/content/googles-deepmind-developing-blockchain-tech-track-health-data

“Infographic: How Blockchain Can Help Cybersecurity for the Internet of Things” – February 15, 2017 – http://www.iotworldnews.com/author.asp?section_id=495&doc_id=726730&print=yes

“Chronicled Joining Startups & Enterprises in Blockchain and IoT Protocol Initiative” – January 27, 2017 – https://blog.chronicled.com/chronicled-joining-startups-enterprises-in-blockchain-and-iot-protocol-initiative-faf107c2739a#.lgttrfjst

“Patient-Centered Health on the Blockchain” – Exponential Medicine November 2015 – https://exponential.singularityu.org/medicine/patient-centered-health-on-the-blockchain-with-chelsea-barabas/

“Hillary Clinton and the Blockchain” – https://techcrunch.com/2016/07/07/hillary-clinton-and-the-blockchain/

“Blockchain technology: Redefining trust for a global, digital economy” – https://medium.com/mit-media-lab-digital-currency-initiative/blockchain-technology-redefining-trust-for-a-global-digital-economy-1dc869593308#.2uv4v6qnj

Dr. Gideon Greenspan’s video talk on private blockchain technology: https://youtu.be/nBuNTeSSpdk

Example: Cancer Gene Trust – http://ga4gh.org/#/cancergenetrust

Even Newsweek and Fortune are covering blockchain now:

http://www.newsweek.com/blockchain-technology-will-remake-global-financial-system-462537

http://fortune.com/2016/05/23/blockchain-definition/

“ANSI Seeks Comments on New ISO Field of Activity on Blockchain and Electronic Distributed Ledger Technologies” https://www.ansi.org/news_publications/news_story.aspx?menuid=7&articleid=c91c48a9-7c64-4a36-a76b-81eaa8c0923e

Business Week coverage: http://www.bloomberg.com/news/articles/2016-05-19/built-for-bitcoin-blockchain-goes-beyond-crypto-currency

http://www.cio.com/article/3055847/security/what-is-blockchain-and-how-does-it-work.html

http://www.kayescholer.com/docs/IntrotoBitcoinandBlockchainTechnology.pdf

http://www.pillsburylaw.com/siteFiles/Publications/AdvisoryMay2016CSTechBlockchainBasicsAPrimer.pdf

https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/bitcoin/v/bitcoin-transaction-block-chains

https://newsroom.cisco.com/feature-content?type=webcontent&articleId=1756804

http://www.economist.com/news/briefing/21677228-technology-behind-bitcoin-lets-people-who-do-not-know-or-trust-each-other-build-dependable

https://www.hyperledger.org

https://www.ethereum.org

https://medium.com/@ConsenSys/programmable-blockchains-in-context-ethereum-s-future-cd8451eb421e#.n3qbico4i

http://singularityhub.com/2015/11/12/exponential-medicine-health-data-discomfort-blockchain-is-the-cure/

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/492972/gs-16-1-distributed-ledger-technology.pdf

https://bitcoinmagazine.com/articles/blockchain-smart-contracts-a-hyper-deflationary-force-for-health-care-delivery-1461860004