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.
Answer: Use blockchain if the drawbacks of using a centralized database outweigh the advantages.
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:
“Blockchain 101 – A Visual Demo” at https://www.youtube.com/watch?v=_160oMzblY8 and a great interactive tool to try out at https://anders.com/blockchain/hash.html (click on the tabs at the top to see different parts)
“Project management blockchain” blog post about using blockchain in project management: https://firstname.lastname@example.org/project-management-blockchain-8f14abea49f8
“A gentle introduction to blockchain technology” https://bitsonblocks.net/2015/09/09/a-gentle-introduction-to-blockchain-technology/
“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 – and his blog “Avoiding the pointless blockchain project” at http://www.multichain.com/blog/2015/11/avoiding-pointless-blockchain-project/
Example: Cancer Gene Trust – http://ga4gh.org/#/cancergenetrust
Even Newsweek and Fortune are covering blockchain now:
“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
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