Author: tylerkaczynski

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If you work in the digital industry, you must have no doubt heard of blockchain by now. The revolutionary database technology that formed the backbone network of rock star cryptocurrency Bitcoin is now being adopted across various mainstream sectors. As the global business economy becomes ever more dependent on software, applications, and web-based development, the potential impact of blockchain is likewise growing.

Blockchain for Enterprises

Blockchain is a shared, unalterable ledger that supports the recording of transactions and tracking of assets. Each transaction is recorded as a block of data as it occurs and each block is linked to the ones before and after it based on a purely chronological order. These blocks form an irreversible blockchain in which content cannot be altered. Furthermore, blockchain ledges are distributed across wide networks, ensuring that no record can be tampered with from a single source. This immutable ledger of transactions is both exceptionally secure and transparent.

Smart contracts are an application of blockchain technology that has multiple benefits for enterprise platforms. Smart contracts are software protocols stored on a blockchain that run automatically or trigger a subsequent action when certain predetermined conditions are fulfilled. Because transactions through smart contracts are secure, digital, and automated, there is virtually no risk of fraud and human error. The need for intermediaries is removed, saving both time and financial resources.
The distributed database system used in blockchain is also one of its most attractive features. Since the blockchain database is accessible to all authorized users, there is more data monitoring. And while users may view the data or add new blocks, existing data cannot be modified or deleted. The absolute transparency of the decentralized blockchain ledger translates to secure and robust databases that improve the integrity of the entire software platform.

Blockchain technology is growing rapidly and blockchain-based software development is the next sector poised to boom from its support. With the World Economic Forum predicting that 10% of GDP will be stored on blockchains or blockchain-related technology by 2025, global businesses are looking to software developers to help them make sense and good use of this technology.

Introducing DevOps

Aside from blockchain, another buzzword that has been making the rounds in software development circles in recent years is DevOps. DevOps is essentially the unification of software development (Dev) and software operations (Ops). It is a holistic approach that combines the tools and practices across software engineering and IT operations to improve the development phase. This agile relationship between previously segregated departments results in shorter development cycles and better product evolution. Notable companies that have transitioned to DevOps include Amazon, Netflix, and Facebook.

A DevOps-oriented software development company is made up of dedicated cross-functional teams that work based on communication and collaboration. In the old-fashioned IT environment, various skill-centric silos or departments take turns to work on a project, passing it to and fro in a linear fashion with limited communication. DevOps teams, however, are self-sufficient and consist of various specialists such as software developers, business analysts, and IT managers.

Unlike traditional development teams that put out large releases at a time, DevOps teams work with small milestones. This focus on frequent and manageable delivery allows more thorough testing, reduces the margin of error, and allows the prompt rectification of any unforeseen issues. More importantly, by working in small morsels, the end product turns out as close to the client’s needs as possible.

Automation is a huge part of DevOps culture. DevOps tools allow enterprise developers to run fully automated DevOps pipelines from code to production. The use of automation allows DevOps teams to pay attention to creative tasks instead of spending time on trivial, routine functions. Aside from automated testing, the deployment process can be automated too, with builds that pass tests being sent through the CI/CD pipeline to clients.

The CI/CD process is a central concept of the modern DevOps environment. CI stands for continuous integration, where developers add code into their shared database throughout the day. Automatic testing procedures are initiated and all errors resolved. CD stands for continuous deployment where a good build is automatically released to the production environment.

A Happy Union

Given the inherent characteristics of both blockchain and DevOps, it seems that software developers could only benefit from combining the two.
DevOps is geared towards the idea of smooth and speedy implementation across individuals in a team within an agile environment. Blockchain can ensure the security and transparency of the software development process as it is being updated by numerous stakeholders. The data on the blockchain ledger can be viewed instantly by all authorized users, providing greater visibility and perception of progress during the CI/CD process.

DevOps developers can also use blockchain smart contracts to regulate their software testing process. As businesses strive to be more customer-centric, smart contracts can be used to independently verify specific user requirements. These smart contracts can automatically put a hold on releasing software builds until these specific issues are resolved.
From secure transactions to privacy management, shared ledgers, and smart contracts, it is believed that blockchain technology will transform the way business is conducted. At the same time, DevOps can provide a reliable and efficient environment that further builds on the virtues of blockchain.
As blockchain technology and DevOps enterprise software development grow in tandem, they are poised to deliver incredible value to organizations willing to embrace cutting-edge technology.

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Blockchain technology continues to prove itself as a massive game-changer in the world of computing. In a nutshell, a blockchain is a serverless, secure, and decentralized way of storing information. Through the clever use of cryptography, specifically cryptographic hash functions, it is virtually impossible to tamper with information already added to a blockchain. At the moment, the most widespread implementation of blockchain is in the realm of cryptocurrency where they are used to store and validate transactions between users. This is not the only possible purpose that the technology can be put into, however. There are virtually endless possibilities, and as an increasing number of developers begin switching to the development of blockchain applications, we can soon expect new innovative methods in which the power of blockchain is leveraged.

Today, software engineering is one of the fastest-growing businesses in the world. As more and more companies become dependent on computer systems to run their workflows, the demand for specialized software rises to an all-time high. Certain new inventions in the world of tech make building software easier for both individual developers and massive teams alike. Services for cloud computing, containerization, and virtualization have become simply indispensable as they facilitate the testing and deployment of builds. This allows software engineers to build more stable software with wide platform support in a shorter period.

The Future of Software Development

Undoubtedly, all developers worldwide face plenty of obstacles every day. Difficulties like software bugs and hardware limitations need to be taken into consideration and must not hinder the performance of the software being built. Other disruptions like lack of synchrony between development teams can also give rise to numerous challenges. It is therefore crucial for developers to find a way to rapidly and efficiently deliver their products without compromising integrity.

Traditionally, software engineering teams were split into two: the development team and the operations team. The development team’s main job is to write the source code for a project and build it for the operations team to test and provide feedback. Usually, the development team’s testing environment is controlled and less lifelike than that of the operations team. This results in them needing a lot of time to run the necessary tests, during which the other team remains idle. This approach is obviously slow and inefficient as the teams do not work synchronously and collaboration is absent between them. To solve this problem, a new approach called DevOps is put into action.

So, what is DevOps? It is a unified solution that changes the mode of action of software engineering teams to enable a smoother and more integrated workflow. In this approach, the development team begins building the source code and keeps track of it using Version Control. The code is then progressively sent in small chunks to the operations team where it is rigorously tested in realistic environments to simulate real-life situations. Automation – leaving computers to do tasks with little to no human intervention – is one of the main methods used in the DevOps approach and is crucial in the phase of testing. Other technologies like virtualization and containerization are also widely utilized in this phase. The result is then fed back to the development team to fix bugs and improve performance, and the cycle restarts. This is why the DevOps approach is usually represented by an infinity symbol to indicate its repetitive nature.

Big online companies like Netflix and others cannot afford any server downtime as it would result in significant financial loss. This makes it impossible to run maintenance and implement any upgrades. By using the DevOps method, no server downtime is needed and the resulting product is so stable that there is virtually no risk of system failure due to bugs.

What is Blockchain Development?

Blockchain development is a new field of software development that is attracting a great number of software engineers. Blockchain developers work together to build both the underlying blockchain technology and the applications that run on it. These two combined shape the blockchain functionality that we all know.

In the beginning, the core developers design and build the features that go into the blockchain itself. These can include security implementations to ensure authenticity and tamper resistance, as well as the network design to govern the distribution and decentralization of data. They also implement certain software on the backend that works behind the scenes and runs the blockchain protocols. The end product is a substrate on which practical applications can be built.

An example of that is the front-end, which is the visual interface that is presented to the user so they can interact with the software. Depending on the purpose, the front-end needs to be user-friendly and compliant with the clients’ needs. Another popular blockchain application is that of Smart Contracts. They are small scripts stored on the blockchain and are designed to automatically execute according to certain circumstances listed in the contract. Being stored there, smart contracts are public, transparent, and resistant to counterfeiting. This opens a wide variety of potential uses in which they can be implemented.

Conclusion

Going forward, blockchain technology will undoubtedly grow and dominate a great part of everyone’s online life. Cryptocurrency is an example of the unstoppable potential of blockchain, and as software development methods become increasingly efficient, more and more blockchain applications will emerge, setting new standards for online networking and security. Governments may also soon adopt blockchain technology for official record-keeping and as a way to avoid political corruption.

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In a world where the internet has invaded our homes and offices, it has become almost impossible to find someone who doesn’t possess an online presence. Whether on social media or other online endeavors, we all have some data on the internet that can be traced back to us. Think about all the times you have entered your personal information on an online sign-up page or survey. This data needs to be responsibly managed to ensure not only users’ privacy but also companies’ future abilities to smoothly run operations. Some time ago before the widespread use of the internet, companies and institutions did not have a lot of digital data to handle, so traditional storage and curation methods were sufficient. This is not the case today, however. As data becomes more and more abundant, new management strategies need to be developed to keep up and ensure the authenticity and security of this digital asset. In fact, data is now considered one of the most treasured resources in the world surpassing oil in value. This is unsurprising given the endless ways it can be utilized.

What Happens to Your Information?

As a user, your data is of extreme value to online companies. Many websites that we access on our personal devices have built-in trackers and algorithms that work behind the scenes to collect our data, sometimes even without our knowledge.

Website cookies are small footprints you leave behind while browsing the internet. They are mostly used to track your activity across different pages and can sometimes help in targeted advertising. Advertising companies aggregate this data and build a virtual profile for every user containing their personal information and interests. This profile is then used to deliver specific ads based on every user’s needs. Targeted advertising is useful as it reduces irrelevant ads and only shows users offers that they care about. So when you see an ad for the exact thing you googled a week ago, know that it’s not just a coincidence, but rather an intricate neural network following you around trying to show you the most useful ad.

In spite of that, data collection can also impose a privacy risk for users. In the unfortunate case of a data breach, private user data is made public and often sold off to the highest bidder on the Dark Web. To avoid such complications, companies are raising their hiring standards and now require proper data governance training and cybersecurity skills. Sadly, there isn’t enough awareness being spread on the importance of online privacy. For this reason, it is of great importance for everyone to take the necessary precautions while surfing the internet. This includes using a VPN on untrusted networks and investing in a password manager to avoid the reuse of passwords across different accounts. It is also very important to think twice before entering any personal information on shady websites.

The Future of Data Storage and Management

Digital data storage has come a long way since its invention in 1947. In that era, it took a hard drive that weighed more than a ton to store a meager 3.75 megabytes of data. Today, hard drives weigh less than half a pound and can hold up to 4,000,000 megabytes. In addition to hardware devices, innovative new technologies like blockchains are emerging and showing great potential for the future of data storage.

Blockchains use peer-to-peer networks combined with cryptography to provide a decentralized and incredibly secure online method of storing information. They are designed in a way that prevents data already added to the blockchain to be tampered with later on. Blockchains play a great role in the operation of Bitcoin and many other cryptocurrencies by keeping track of and validating transactions between users. This way, the transparency, publicity, and authenticity of these transactions are ensured. The fact that blockchains are decentralized and non-custodial enables the ability to send and receive crypto payments around the world without any limitations. For this reason, Bitcoin is the main payment method used on the Dark Web for the purchase of illegal goods and services.

In the future, it is expected that blockchain technology will be put to other uses besides cryptocurrencies. As more and more blockchain applications get developed, they may soon be used to keep track of things like medical records or even criminal history. Governments may also put this technology into action to record official documents and run secure and transparent voting mechanisms.

Conclusion

The world we live in today is not the same as that of a few decades ago. As we continue to grow increasingly dependent on the internet, we must not forget the importance of practicing safe online habits. Luckily, innovative inventions like blockchains and cryptography are showing promising potential for the future of online data security. At the rate at which blockchains are growing now, it would be unsurprising to see blockchain-enabled data management taking over in the near future.

You have just returned back to Arusha, in northern Tanzania, after completing your day descent of Mount Kilimanjaro. You manage over the previous six days to hike 19,000 ft to the summit, but on your return to your hotel in Arusha you stumble and crack your head on the tarmac in front of you. A doctor is quickly by your side, though you know none of this in your unconscious state. You’re rushed to hospital and on examination, the doctor decides that surgery is necessary. But they have no copy of your medical history, and therefore no way to verify any possible surgery contraindications. The local doctor is able to contact your GP back home in London to request your medical records; however, there’s no way for your GP to know if the man on the phone is legitimate. In the end, your GP acquiesces to sending the files, not wishing to risk the health of his patient overseas.

What if there was a way of verifying this exchange, between the doctor on the ground in Tanzania, and the GP in London, a way of ensuring the transfer of the correct data quickly and securely? We can think of blockchain technology as distributed ledgers on which massive amounts of information can be stored. In this case, the blockchain acts as a cyber pipeline between the two doctors, through which the necessary data can be transferred. The blockchain also acts as the storage mechanism within which your medical record is securely kept. If we think for a moment where our own information is currently stored online, we realise that we have little agency over it at all. Right now our information resides with doctors, with hospitals, with insurance companies, and even with online forms. These entities may possess all of your medical information or even only parts of it. Devices like FitBit even possess some of our information.

Who owns patient data? How much of that data is yours and what can you do with it once you have it? The problem is that we don’t have full agency of our information. Fortunately, companies like YouBase are working with hospitals to start to give patients greater data agency over their own health information. An advantage of combining with blockchain compatible technologies like YouBase is that more effective communication across the value chain within medical networks might now be possible. For example, each medical centre and hospital might have different ways of storing and transferring patient data. Blockchain platforms such as MedicalChain, Medibloc, and Patientory seek to amalgamate these different storage systems to ensure interoperability. As the patient/user, you can use a token in order to share information about yourself to help doctors and surgeons understand your health history.

So if we go in for surgery, whether it be orthopedic, surgery for targeted fat reduction, or other illnesses, all of your relevant health information can be exchanged with the hospital through the transferral of a token. For example, prior to liposuction surgery, full disclosure of health history including any illness, prior surgery of any kind and complications from prior surgery is necessary, as well as any history with anesthesia.

The implementation of blockchain technology within the medical space can benefit its supply chains, too. The pharma industry has the highest standards for product safety, stability, and security. The pharma supply chain management, with blockchain, can be monitored securely and transparently - this can mitigate time delays and human error. Blockchain can also be used in this domain to monitor cost, labour, and to verify authenticity of products by tracking them to their origins, combating counterfeit product trafficking which costs $200 billion in losses to the market annually. Modum, for example, works in compliance with EU laws which require proof that medical products haven’t been exposed to certain conditions such as high or low temperatures which could damage or change them. Company iSolve, similarly, envisions an end to end drug supply chain solution through the implementation of blockchain tech. The use of blockchain would make the drug supply chain transparent for pharma companies who wish to see the distribution patterns of their medical products.

Casting our vision further into the future, we might see companies like EncryptGen and Nebula Genomics using blockchain platforms to enable individuals to share genomic data safely and securely. Companies like these predict that in future, opportunities around personal genome sequencing will create a data market worth billions of dollars.

The implementation of blockchain technology may have begun in the cryptocurrency market, but it is quickly spreading outwards, as its benefits are realised by an increasingly larger group of industries and individuals. It is more than likely that blockchain will have as great an impact on our lives, if not greater, than the internet.

Two of the most interesting technologies of the decade are blockchains and cryptocurrency. Despite their widespread popularity, many people are still yet to understand how a blockchain works. Ideas for similar technologies have been around since the 1980s, but the first real implementation of a blockchain took place in 2008 with the release of the revolutionary cryptocurrency known as Bitcoin. Since then, thousands of similar new cryptocurrencies have been created, further popularizing blockchains. According to its creators, Bitcoin is a form of decentralized digital currency built on a blockchain with peer-to-peer technology that enables fast and effortless money transfer.

Blockchain Technology Explained

The most prominent role of blockchains is keeping track of certain events as they happen, kind of like a record book that can be modified by anyone. To ensure legitimacy and authenticity, an intricate computer technology called cryptography is put into action. Combined with peer-to-peer networks, the result is a trusted ledger that lies at the heart of cryptocurrency.
As its name suggests, a blockchain consists of an ordered chain of blocks, each containing data of a specific type. In the case of the Bitcoin blockchain, each block includes records of the transactions that take place on the network. What’s peculiar about it is that anyone can join this network and broadcast new transactions to the chain, making it decentralized, publicly accessible, and non-custodial. This works by having every member keep their own copy of the blockchain, broadcasting changes to others as they occur. This does raise several concerns, however. If anyone can add information to the blockchain, what is stopping malicious members from creating fraudulent transactions under fake identities, and how can the network decide which version of the blockchain to trust?
This is where cryptography is factored in. A certain cryptographic algorithm SHA-256 plays an important role in verifying transactions as well as entire blocks on the blockchain. The main purpose of this function is to return a string of bits of a fixed length – also known as the “digest” or “hash” – for every piece of data that is fed into it. It works in an irreversible manner, so the original data cannot be reconstructed from the digest, and a fixed input will always yield the exact same output. Should this input be even slightly altered, the resulting digest would be entirely different. The only possible way to reverse this function involves trying every possible combination until a match is found, but the number of combinations is so ridiculously enormous that it is deemed virtually impossible. By requiring any added transaction to be signed using a hash generated by its author, another cryptographic algorithm can then determine if this hash is valid, and consequently the transaction itself.
On the Bitcoin blockchain, transactions are arranged into groups, or blocks, of 2400. Each block contains in its header the hash of the previous one as an effective way of keeping track of the block order. To verify each block and make it trusted by the network, an interesting method called “Proof-of-Work” is implemented. It requires every new block to have a substantial amount of computational work put into it. This is achieved by adding a variable piece of data to each block so that the hash of this block meets a certain requirement. Here is where miners come into play, trying all possible combinations of the variable data until that requirement is met. The first miner to solve the puzzle receives a certain amount of Bitcoin as a bonus and broadcasts the newly verified block to everyone else on the network. If someone attempts to make changes to a block, it would entail calculating the proof-of-work for all the blocks that will ever follow, requiring them to control more than half of the miners on the network. This explains why the network grows more secure as additional miners join. To determine the balance of a certain user, the transaction history of this user is simply collected from the blockchain and summed up.

How Bitcoin is Changing the World

The spread of cryptocurrencies is slowly changing the world. Many users are choosing crypto over traditional cash as it provides a multitude of facilitations to everyday life. This includes the widespread availability, ease of transfer, and anonymity provided by Bitcoin.

A rapidly increasing range of international companies are beginning to accept crypto as a form of payment. Compared to bank transfers, Bitcoin payments are faster, easier, and impose significantly lower fees. Considering other emerging cryptocurrencies like Bitcoin Cash (BCH) that are designed with everyday transactions in mind, cryptocurrency may soon become the top payment method worldwide. Cryptocurrency is certainly cool, while fiat money is certainly practical, but it can be said that new cryptocurrencies may bring the best of both worlds, providing great functionality while still looking sleek, just like a pair of prescription sunglasses that you might also someday pay for, using cryptocurrency.
The only major downsides of cryptocurrencies are their extreme volatility and potentially negative environmental impact. While most crypto coins maintain a somewhat fixed price, there is always a slim possibility of a sudden drop in their value. On the bright side, certain “stable coins” have been developed to mitigate this. They are backed by actual gold to maintain a stable value, eliminating the risk of loss. Regarding environmental impact, despite crypto miners requiring large amounts of electrical energy, it is still significantly lower than that of banks. It was found that the Bitcoin ecosystem currently consumes less than 10% of the total energy used by the banking system worldwide.

Conclusion

Although cryptocurrencies are still somewhat contemporary, they have already changed a lot in the world and are exhibiting great potential. As blockchain technology continues to improve and becomes increasingly efficient, the widespread use of crypto becomes imminent. Maybe someday we will be able to completely ditch traditional money in favor of crypto. Who can tell?

Your time at college will come with a lot of firsts. It’s your first time living far away from home, your first time living with roommates (who you aren’t related to), and of course, your first time handling your finances all on your own. These are some tips that will help you manage your money:

Make a Monthly Budget

You’ll have to organize your funds for housing, food, school and more all on your own. If you want to have an easier time keeping track of these essential costs, you should put together a monthly budget as soon as possible. With this simple financial tool, you can see exactly where your money needs to go every month so that you don’t spend beyond your means and suffer the consequences. 

How do you start? You can download one of the top budgeting apps on your smartphone and fill out the details. Most budgeting apps can sync with your online bank accounts, which makes it easy to track your expenses down to the penny.  

Consider Emergency Expenses

Sometimes things go wrong. Maybe your laptop gets stolen from your backpack, and you need to get a cheap replacement fast to finish the rest of your term. Maybe your car breaks down in the middle of the road, and you need to pay for a tow truck and repairs. These are emergencies that you can’t afford to ignore, even if you don’t have the savings to pay for them.

So, what can you do? You have a few options at this moment:

• Use your credit card
• Use an online loan
• Ask your parents for help 

If you have a credit card, you could put the expense on there. Before you put the charge on your card, check to see whether your balance is close to the limit. If you’re too close to the limit, you should refrain from using this option. You don’t want to risk maxing it out.

If you don’t want to put the charge on your credit card — or you don’t have one — you can take out cash loans online to help you handle emergency expenses. You can quickly access the funds to fix your problem and then manage your repayments later on. You should only apply for online loans when it’s absolutely necessary. These are best left for emergencies, not for things that you can afford to live without (for example, an upgraded smartphone).

And finally, you could call your parents. Your parents might have the savings or credit available to help you pay for this emergency. Calling might bruise your ego, but it’s better than upending your personal finances just to maintain your pride. 

Your parents might treat their financial help as a personal loan, not a gift. In that case, you should let them know how long it will realistically take you to pay them back. Giving them an estimated deadline will show them that you’re putting in the effort to repay them. This will hopefully save you from any lectures about financial responsibility.  

You can avoid this situation entirely by dedicating a portion of your monthly budget to emergencies. These savings could help you cover the costs without the help of credit tools or your parents. 

Start Your Relationship with Credit 

If you don’t have a credit card yet, you should look into getting one. The earlier that you start building your credit, the better. 

Look for credit cards designed specifically for students. These will have low interest rates and low fees. You can apply for a credit card on your own when you are 21 years old or older and have a steady income. If you’re under 21, the 2009 CARD Act states that you will need an adult co-signer to get approved. A co-signer agrees to repay a creditor when the applicant fails to do so. Your parent or guardian could act as yours.

Start on the right foot with your credit card by setting online reminders for upcoming bills. These reminders should help you remember to pay those bills and avoid racking up late fees. Paying your credit card bills on time will do more than save you money. It will help you raise your credit score.

What’s your credit score? This is the ranking on your credit report that helps lenders determine whether you’re a responsible credit user or not. It will come in handy when you want to apply for a new credit account or loan. A high credit score often leads to lower interest rates and insurance premiums. It could also make it easier for you to buy a car, rent an apartment and even get a good cellphone plan.

Managing your money properly isn’t something that you can really learn through a class. It’s something that you learn in practice. So, follow these tips and take control of your finances this year. 

Unless you have been living under a rock, you would have no doubt heard about Bitcoin and how it revolutionized the financial sector. The database technology behind the Bitcoin network is called blockchain. Despite its rather dull name, believe me when I say that blockchain technology is going to shape far more than the cryptocurrency world.

What is Blockchain?

Blockchain might seem complicated but its core concept is very straightforward. Think of it as an alternative type of database.

Picture the traditional database as a warehouse. As packages of information arrive, they are sorted and stored on various shelves throughout the facility. If there is a new version of the same item, the older item is replaced and archived. A central supervisor keeps a record of when each package arrives and where it is stored.

In the blockchain warehouse, packages are stacked into containers based on arrival time. When a container—or block—is full, it is connected to the previous one, forming a data chain called a blockchain. Once added to the blockchain, all existing items will never be moved again, forming a permanent sequence of data.

What this means is that blockchain is incredibly transparent and secure. As new data blocks are stored chronologically, there is a linear history of events that cannot be altered. The security is increased exponentially if decentralized networks comprising thousands of supervisors are used to store the blockchains. In such a network, any incorrect information will immediately be rectified based on the collective record.

Making Vehicles Smarter

With its robust ability for providing oversight and accountability, blockchain could be the technological push required to solve lingering problems in the automotive industry. Here are some possible applications of blockchain technology that might be coming to a highway near us.
Gone are the dusty old days when a car was just steel and rubber wrapped around a combustion engine. These days, we would be hard-pressed to find a car without a computer onboard. Cars are veritable mobile supercomputers, collecting multiple points of data, and communicating with external sources over the broadband cellular network.

From the very first stages of manufacturing, blockchain ledgers can record every movement in the automotive supply chain. This allows for better control and collaboration between each link, increasing manufacturing efficiency and transparency. One such use has been to ensure that electric vehicles only use child-labor-free cobalt in their batteries.

With sensors in cars measuring just about everything, data on fuel efficiency and emissions can also help manufacturers create cleaner car components. This is necessary as countries enact stricter limits on carbon emissions and pollutants. Blockchain technology acts as an interoperable ledger of statistics to facilitate the use of this data.

Blockchain platforms can also store and verify critical information about vehicle ownership, such as titles, proof of sale, history of transfers, and insurance. Blockchain-based electronic vehicle sale or lease contracts can be automated, cutting out the need for intermediaries and thus providing clearer information and simpler processes.

But perhaps the most attractive application of blockchain technology in terms of the transport sector would be in traffic management. By combining blockchain with ride-sharing and autonomous vehicles, innovators are hoping to alleviate traffic congestion. Continuous developments in vehicle-to-vehicle (V2V) communications can help to create traffic flow that avoids congested locations in our future traffic system.

Enhancing Driver Experience

On the user front, blockchain ledgers can prove handy by improving convenience within the automotive industry. From updating me about component upgrades to sending my vehicle performance data to a remote mechanic for a scheduled service, multiple practical applications can utilize blockchain technology.

In-car wallets are one of the key emerging concepts in the integration of blockchain with the transportation sector. No matter where we live in the United States, tolls are an unavoidable part of life. The idea of an in-car blockchain wallet expands on the existing E-ZPass concept to enable quick and secure transactions for everything from state park entry fees to feeding parking meters.

Aside from paying for stuff, blockchain technology can also help car owners save money. Automotive insurers are considering usage-based auto insurance models as part of the new mobility ecosystem. In addition, auto insurance information can be stored on the interoperable blockchain ledger for easy access by all parties.

For example, in case of an accident, GPS technology would locate a car accident lawyer near me and provide the driving records stored on the blockchain as irrefutable proof of the sequence of events. Blockchain technology also enables the automation of claims handling and provides a convenient pay-out mechanism.

As further support for safe drivers, data about a user’s driving habits can be recorded, stored on the blockchain, and analyzed. Those with safe driving records can be rewarded in the form of fiat currency, cryptocurrency, or vouchers. It has even been suggested that safer drivers should have lowered insurance premiums.

With blockchain boasting such strong security, it has been proposed that vehicles employ identity-specific unlocking mechanisms instead of easily stolen keyless entry remotes. Biometric data of vehicle owners can be stored securely within the blockchain, preventing car theft.

Smart vehicles gather and generate an extraordinary amount of data. It is estimated that a self-driving vehicle can create a whopping 1 gigabyte of data per second. In our digital age, user data is worth its metaphorical weight in gold. Blockchain technology can be used to grant us greater privacy control while providing a secure way to store our personal data.

At this point, it may be too early to say how exactly blockchain will be implemented into our automotive and transport systems. However, I can confidently say that we can look forward to a safer and more hassle-free experience on the roads in the near future.

Technology has infiltrated our world in practically every way humanly possible by now. We are so familiar with its constant reaches that it is practically a crutch for us. As much as we would all like to believe that technology was necessary for our evolution, the reality is that we could have kept on living a simple life. Nonetheless, the technological evolution has happened, and we are more comfortable and content than ever. And, this is not a bad thing. It is just more than was designed for us. But, perhaps that is the mark of a great evolution – taking what we were created with, and using it to further our own advancements and reaches on Earth. Technology is everywhere. We have more need for IT support and integrated ongoing systems than ever before. And it is wonderful. Of all the vast advancements that technological innovation has brought to the table, the rise of home technology is (arguably) the most profound. Thanks to home technology, we are more comfortable, secure, and content at home than we have ever been before. And this is only the beginning.

The need for stronger home security has been something that has been on the table for years now. Back in the day, the security systems that were integrated into homes worked for the most part, but it was a shock to many that when they really, truly needed their home security system to work, it failed to. Home technology these days integrates new-age, stronger home security functions, integrating everything from property-wide motion cameras and window and door lock control apps, to bulletproof shutters and control rooms. From the seemingly simple to the luxury home security concepts, we have it all at our feet now. Security is important to the average homeowner, and new technologies are being developed all the time that provide that much-needed peace of mind and an exciting little home security quirk. The modern homeowner values their security above all else, and it is important that home security businesses are delivering security options that not only meet, but exceed modern homeowners’ expectations. They will buy the best value for their budget – so being the best is essential.

Home technology is not just about advanced technological security systems, though. Today, home technology is all about making life at home more fun, smarter, and more wholesome. And this is where home technology concepts like the virtual home assistants have made their mark. Initially, home assistants were quite expensive, as they were new technology that was still being fleshed out in the long term. As their popularity increased, and the technology became more advanced, the prices dropped. These days, it is not at all uncommon to walk into a home and see, for example, a Google Home sitting in the kitchen. These home assistants are just one of the fantastic home tech devices and systems on the global market’s wish list, but they are, without a doubt, one of the most exciting. The Google Home virtual assistant can play music, read recipes, set reminders, and be used as a timer. These are just a few examples of what makes the Google Home so fantastic. And, it is finally more widely available to modern consumers.

As one might have guessed, home technology is not exclusively for the wealthy anymore. More and more often, we are seeing home tech devices become commonplace in the modern home. Homeowners can install or plug in home tech devices like virtual home assistants (think Google Home, Alexa, and even Siri on iPhone), smart televisions, light and temperature control functions, and whole property home security systems. While these innovations are worth their financial value, because the technology is not as brand new as it was even a year ago, they are becoming increasingly more affordable. Home technology has well and truly made its impact as one of the world’s most exciting innovations of technological prowess, and it has only begun to make its impact. While innovations like robots for the home are not available just yet, it is likely that we will begin to see them move into the global market sometime soon. Technological advancement has fundamentally changed our species’ reach on Earth forever. We have more of a reliance on technology than ever before, because our obsession with increasing the utilization we have with it has come to be the fuel to add to the fire in our pursuit of active resolution.

Our greatest comfort thanks to technological development has been home technology. Today, home technology is the most profoundly exciting and impactful technological innovation of recent times. And it is no longer exclusively expensive, either. Thanks to home tech, we are more comfortable, and we feel safer, than ever before. Virtual home assistants and lighting and temperature control are exciting and impressive even now, but they are fast becoming more commonplace in modern homes. Because the technology is advancing at such a rapid pace, it is becoming more affordable all the time, and people are embracing it and inviting it into their homes. This is an exciting time to be alive. It is also only the beginning of what is sure to be an exciting technological history.

By any measure blockchain technology is still in the early stages of development. Technical kinks are still being ironed out, there is cutthroat competition among companies to cement themselves in the industry and it's unknown who will emerge on top, if blockchain succeeds in the long-term at all. The potential is huge but also largely unknown. Whether blockchain technology is a passing fad or a complete paradigm shift in the way humans conduct commerce with each other is not something we can say with any certainty. What we can say, however, is that over the past year the game has changed significantly. Most people have heard of Bitcoin now, and are at least curious as to what it is. Many daily goods and services can be purchased with bitcoin now. But will this last, or is it just hype?

The Promise of Decentralization

Bitcoin was born in the ashes of the 2008 financial crisis and was born with a mission statement. It was conceived as a means of transferring currency outside of the control of governments and banks. This was a chance for individuals to take control of their finances again. A chance to escape the fractional reserve banking system that had led to the financial crisis and had become a system that was rigged to benefit the 1% at the expense of the 99%.

As the financial crisis continued things got worse. The banks and governments continued to avoid any real reform and were more interested in bailing out their friends and ensuring they maintained their stranglehold on the global financial system, or so the story goes. Their main weapon? Centralized currency.

This is where blockchain technology comes in. Blockchain is decentralized currency. It doesn't have a central point of failure, and can't be controlled by a central entity. It is the first currency that has the potential to break the stranglehold the banks and governments have on the financial system. It has the potential to completely revolutionize the way the world exchanges currency.

The Promise of Trust

Decentralized currency is just one aspect of what blockchain technology could do to revolutionize the financial system. Another is trust. Blockchain technology is a system that is remarkably transparent and reliable. It is a system that is a fully open ledger that can be viewed by anyone. It is a system that is completely resistant to fraud or corruption. It is a system that will change the way we trust each other.

Nowadays, most people have to trust someone else in order to do business with them. Even if you conduct business directly with someone else, you have to trust that they are who they say they are and that they aren't going to try to rip you off. You also have to trust that their product is as described and that they aren't trying to sell you a product that is of low quality or that is faulty.

Blockchain technology eliminates the need to trust someone else. Blockchain technology is a system that is a fully open ledger. It is a system that is completely resistant to fraud or corruption. It is a system that will completely revolutionize the way we trust each other.

Bitcoin is Already in Wide Use

In the early days, one of the biggest arguments against Bitcoin was that people were hoarding it but nobody could actually use it to buy anything. One of the biggest changes we've seen this year during the pandemic is that Bitcoin and other cryptocurrencies have become widely accepted for most types of goods and services. Major retailers including Microsoft, Home Depot, and Expedia now accept the virtual currency. You can buy backlinks with Bitcoin, and even use it for political donations. And for the things you can't buy with bitcoin, well-capitalized exchanges are filling the gaps - it's now easier than ever to exchange bitcoin for traditional currencies around the world.

Does this mean bitcoin has gone mainstream? Not so fast. While bitcoin has made great strides toward becoming a popular global currency, it's still the first in its market. The jury is still out on whether bitcoin will turn out to be a fad or whether it will eventually become the de facto currency for the world.

Bitcoin is also not without its problems. One of the biggest issues with bitcoin is that it is deflationary by nature. It's built on a system that rewards people for "mining" bitcoin, and if you're new to the space you may not know that mining bitcoin is essentially a process where people use computers to solve complex math equations to "unlock" bitcoin. The problem with this is that only 21 million bitcoin will ever be mined, and the rate at which bitcoin is being mined decreases over time. This deflationary aspect of bitcoin means that as time goes on, it will become harder and harder to mine bitcoin, and the cost to do so will skyrocket.

The last issue with bitcoin is that it's still a currency that is supposed to be used to exchange value, but it's not backed by any underlying asset. The price of bitcoin has been volatile, and there is no guarantee it will retain its value over time.

Conclusion

Blockchain technology is decentralized currency and it has the potential to completely revolutionize the way citizens exchange currency. It has the potential to completely change the way we view trust and financial transactions. It has the potential to completely transform the way we view business. There is a lot of hype around Bitcoin, but it seems that the hype is starting to produce results. Will Bitcoin succeed in the long-term? We don't know for sure, but it's clear that it is here to stay, and that blockchain technology is here to stay. The next few years could be a pivotal point in human history and we won't have to wait too long to find out.

Trust is an important thing on the internet, especially when payments are involved. Who knows who you're dealing with over email, or on some website, run by who knows how many people. In this article we look into how trust occurs online, and how this is being changed by trustless systems.

eBay

Let's take a look at how the first solution to trust on the internet came about. In the 1990's, the internet was bright and fresh, a wild west of opportunities. As certain as the sun rising, those few people who are out to ruin it for everyone else, started making trouble and scamming people. We shouldn't bemoan their existence, it's to be expected: human nature is what it is. So what systems evolved to solve the problem of trust? eBay is a great early example, with their rating and review system. The early buyers were most likely young people who were out to get some good gear second hand, or at least cheaper than in a store (with all the overheads of a physical location, pushing up the price of the items, eBay helped to reduce costs). So they were mostly assumed to be trustworthy, most of the time, at least in the early days. The sellers, on the other hand, were business people, out to make a profit: their motives are already on suspicious ground. If a seller sold 100 items in a month, and had a 20% profit margin, they stood to earn a lot of money (80% extra on a sale!) by simply not sending the item to the buyer, once a month. If eBay was watching and scrutinizing them, to check if they were fraudulently taking people's money and not sending items in that way, then there wouldn't be an angry crowd of dissatisfied buyers waiting in protest, instead there would just be one or two people who probably had their package stolen, perhaps. So in this way, it was a problem that eBay had to solve. They solved trust and the reliability of sellers (not so much buyers) by implementing a feedback system, measured specifically as a percentage. The bar for this percentage is extremely high: the percentage is displayed down to two decimal places, and someone with 99.05% positive feedback has a substantially worse score than someone with 99.95% feedback. So, buyers learned to trust sellers with consistently high scores over many hundreds (if not thousands) of orders. This worked fine in the early days, but as systems evolve, unintended consequences of the design emerge. Buyers start leaving positive feedback when they've had a bad experience because they don't want to receive reciprocal bad feedback themselves. Sellers offer to refund an order at the drop of a hat, living in fear of negative feedback.

More concerning, what if eBay started to exclude some negative feedback, based on its age, or some statistical measure of certainty, designed to lessen the impact of the occasional (accidentally) lost package? How do you know that their algorithm hasn't run amok, and is hiding all the deadly negative feedback that you wanted to see? If the feeling of risk and distrust is rising in the back of your mind, you'd be right. The assumption underlying all of this is that you have to trust eBay, the person collecting and presenting the feedback score. If you don't trust that number being displayed on the website, then it's worthless. So, eBay's rating and review system is inherently a trust-based system: you have to trust eBay. What possible alternative is there, I hear you asking? Well, let me tell you about my friend, the "trustless system".

Trustless systems

Despite the confusing name, it does not mean a den of thieves where no-one is trustworthy. It means that you don't need to trust the system itself. In contrast to the centralized and arbitrarily editable ratings & reviews system of eBay, there are many proposed blockchain solutions to establishing trust.

But what is a trustless system? A trustless system is one where the inner workings of the system are completely open and transparent, so that you can see there are no arbitrary back doors to undo negative feedback, or assign undue trust to an individual who is behind the scenes. Furthermore, a trustless system should be decentralized, so that there is no one physical server or piece of hardware that is vulnerable to tampering. In eBay's case, who is to say that a server technician in the back room couldn't one day edit his own personal account's feedback score to be positive, with you none the wiser? In a distributed and decentralized system, this isn't a risk, as you don't have to trust that the hardware is secure.

The Blockchain

The blockchain is a good example of a trustless system. In the blockchain, there is no single entity that you have to trust to run the system. Bitcoin is a trustless system, and the blockchain is the underlying technology. A blockchain is a decentralized, immutable index of data. In the case of Bitcoin, it's the list of payments that have ever been made. This is all open and transparent, anyone can download the software and view the blockchain, so they know exactly how it works. Suppose you are browsing the internet looking to buy a kitchen sink (of all things). While it doesn't currently exist in a popular form at the time of writing (March 2021), in the future, there will no doubt be an implementation of a blockchain to solve the question of feedback scores for online sellers, that will be publicly verifiable, so that anyone browsing a specific merchant's website can check and see if they really are the best sink company, and feel assured.

In summary

Trustless systems are systems that you do not have to trust, because they are open and transparent, and because they are decentralized. If the system is all open and transparent, then you know exactly how it works, and you don't have to trust that the creators built it with no nefarious ideas in mind. If the system is decentralized, then there is no single entity that we have to trust to run the system, physically. So, in these systems, we do not have to trust anyone, and can operate and trade without worry or risk.