₦airaland Forum

You are welcome

Click on read more button and read full article

The era of the (n) coin, much like the Dutch tulip mania, has gone into hibernation. Predictably so. Bubbles burst when they stretch beyond their holding power. For those who didn’t throw out the proverbial baby with the bathwater, however, opportunities of leveraging distributed ledger technology is still the promised land. And enterprises across the world are now gearing up for the era of Blockchain 2.0, a landscape beyond the heady gambling of decentralized currency of 2015-2018.

Blockchain applications and platforms have reached a certain degree of maturity in their life cycle, and if industry implementations are anything to go by, this will continue to hold. Touted as the democratization of the Internet, the new era of Blockchain 2.0 will not be a geek haven, but a pragmatic approach to solving real-world business and governance issues. Smarter, faster and more secure, the promise of the new era of blockchain will be more than 80% about business and 20% about technology. The erstwhile security concerns have already been resolved by the likes of Hyperledger and Sawtooth, paving the way for secure, programmable transactions in industries like finance, infrastructure, oil and gas and even education. Here’s a look at how blockchain will change the way business is done, this time outside of autonomous currencies.

Microtransactions

Security is the key here. Blockchain 2.0 will facilitate automated and programmable microtransactions which will be decentralized. With the increasing likelihood of autonomous vehicles, drones and AI, we see entire supply chains and distribution channels transacting with each other without human intervention. This is probably the simplest use case from among what lies in store. Programmatic transaction processing for businesses of all types will be driven largely by autonomous execution with advanced safety. Blockchain 2.0 for you.

Digital Assets

Tracking assets, information, and goods in the era of Industry 4.0 and IIOT will be powered largely by Blockchain 2.0. The earlier avatar of blockchain solved DRM issues to a certain degree but was ailed by cyber-attacks and security issues. Several platforms like... READ MORE

Great information

The recent infographic by Central Blockchain Council of America reveals why it is the right time to seek a career in Blockchain. Emphasizing on the benefits of learning blockchain technology, the infographic also highlighted the fact that by 2023 Blockchain will support global movement and tracking of 2 trillion goods and services annually, as per the Gartner report. The infographic highlighting a fact from a current report by Deloitte revealed that almost 55% of Blockchain leaders feel that blockchain technology has become a critical priority for their organization. A 10 – point increase over the last year. So what are you waiting for, as this is the best time to opt for blockchain certification and show the world that you are ready to become a blockchain professional.

https://www.cbcamerica.org/Content/Images/why-blockchain-is-getting-bigger-and-better-infographic.jpg

Ever since it was first introduced in 2008 by one Satoshi Nakamoto, Blockchain Technologyhas been making waves in the IT world. The interest in the technology has only been risen over the years and amusingly, the technology has lured both technical and non-technical minds alike because of its features like –

Decentralization
Transparency and trust
Peer-to-peer network
Immutability
High availability
Highly secure
Faster dealings
Cost saving

It is also interesting to note that when the technology was first introduced it was cited as the future of IT world, however, after few years down the line, the Research and Consulting firms like Gartner and McKinsey feel that Blockchain Technology is far from being production ready at the moment.

So is the path headed to disillusionment with regards to this new kid on the block? Or is there some midway to realistic expectations? Whatever the case – let’s first understand what is Blockchain, why it showed signs of being ‘the technology’ and what happened in the midway?

So what is blockchain?

In a layman’s language – Blockchain is an ever-growing secure, shared record keeping system in which each user of the data holds a copy of the records, which can only be updated if all parties involved in a transaction agree to the update.

Now let’s understand this definition in technical terms. Blockchain in technical terms is nothing but a peer-to-peer, distributed ledger that is cryptographically secure, append only, immutable, and updateable only via consensus or agreement among peers.

With these definitions clear, let’s understand why it became the technology. The main reason Blockchain technology found favor with everyone was due to its key features like – decentralization, transparency of transactions and immutability. Here are few reasons why Blockchain technology became so popular –

It is a decentralized system – it means no one particular person owns it.
It cuts out the middlemen – through its peer-to-peer network there is no need for third party.
It can help prevent payment scams – through its transparency of transactions
It has reduced the transaction time – through its speed and autonomous transactions.
You can store the important documents.

However, soon the limitations of the technology caught up and industries were forced to slow their blockchain technology adoption. The limitations included but were not restricted to –

Scalability
Adaptability
Regulation
Privacy – as everyone involved in the transaction can see what has been entered.
Quite expensive

Where does it stand today… the current status of Blockchain Technology?

In the current state – Blockchain technology has been shifting standards in various industries like education, healthcare, finance, Real Estate, supply chain, manufacturing, digitizing land records among others.

While these industries realized the benefits of blockchain technology, here are some of the practical uses of Blockchain technology, which made it one of the favored technologies.

Contract management and smart contracts
Payment processing and currency transfers
Supply chain management
Asset protection
Identification, personal record systems and passwords management
Real estate, land and auto title transfers
Retail loyalty rewards programs – Blockchain technology is revolutionizing the retail experience by becoming the go-to for loyalty rewards
Digital IDs (another practical use of blockchain technology – though in nascent stage)
Copyright and royalty programs

There are others as well including but not limiting to food safety, immutable data backup and tax regulation and compliance among other things. And these are just a few of the practical uses of this disruptive technology that has been making all the right noises.

So while the technology world is debating in the profitability of adopting blockchain technology, there are others who are waiting to adopt Blockchain technology. In fact, the challenge begins here. Since the technology is relatively new there are no programs where one can learn about Blockchain technology. In addition, recruiters around the world seek skilled blockchain professionals.

But before that, let’s understand how can businesses benefit from this new kid on the block called Blockchain technology –

Blockchain technology helps in eliminating the middle layer by enabling the peer to peer network.
Blockchain enables organizations – within the network) to share and maintain the same database thus enabling direct transactions as well.
Other business-related benefits of blockchain technology include –

Efficiency
Auditability
Traceability
Transparency
Security
Easy feedback

With all these benefits looming in front of business houses, it was obvious that recruiters seek skilled blockchain professionals.

Learning Blockchain Technology for Bright Future

When seeking a career in something relatively new, it is better to understand the demands of the industry, and what are the programs available in the market. In this, let’s see how can one learn Blockchain technology.

The good way to start is by reading the books on Blockchain technology by the industry experts. The books will give the reader an idea about the technology.
YouTube tutorials on the technology are another way to gain knowledge. With these tutorials, one can start with their own blockchain as well to gain knowledge and know where they are missing.
There are some universities as well that teach the basics of blockchain technology to the beginners. Universities like – Stanford University, University of Pennsylvania, University of California – Berkeley offer extensive programs.

While these are the basics to learn the technology, if one needs to make his/her presence felt in the world of Blockchain technology then certifications in Blockchain are the best way to go.

Blockchain certifications from reputed certification bodies like Blockchain Council, Central Blockchain Council of America (CBCA) and Blockchain Training Alliance. These bodies offer state-of-the-art certification programs to its applicants. The programs offered are based on the robust standards set by the industry expert and test the participants on their – skills, knowledge and quest to learn something new.

We have seen how Blockchain technology steadily making its presence felt in various industries. We have also seen how it can benefit the businesses globally and it will just be a matter of time before the technology is ready for production. According to Gartner’s expectation – the technology will reach production readiness in about 5 to 10 years. Till then keep yourself abreast with all the latest inventions, trends and practices in Blockchain technology because remember that –

Blockchain will disrupt the technology, the way Internet disrupted the communication!
Source - https://www.thecryptoupdates.com/blockchain-technology-the-new-high-tide-you-need-to-surf/

Bitcoin Blockchain encompasses a record of each and every Bitcoin ever produced along with its transition from one person to the another. As a matter of fact, all the cryptocurrencies that are created on similar lines as Bitcoin have utilized Blockchain. In short, they are all based on the same model that embraces Blockchain for currency transactions to make it free from a central authority.

In connection with Bitcoin, Blockchain can be seen as a public wallet carrying transactions.

WHAT RULES DOES IT FOLLOW?

If you are a Bitcoin user, Blockchain is a unique technology that has played a huge role in its success.

Starting with Bitcoin is immensely easy and does not require any technical work from the side of the user. All you have to do is install Bitcoin technology on your laptop, personal computer or perhaps your mobile phone. That will give birth to your Bitcoin address that can help you generate more according to your convenience. It is also possible for you to share that address with others so that you can make transactions. It is actually very similar to how emails work a bit in this case, a bitcoin address cannot be used more than once.

Bitcoin

WHAT CAN WE EXPECT FROM BLOCKCHAIN IN THE COMING YEARS?

Gone are the days when Blockchain is only associated with Bitcoin technology since experts from various industries have realized its worth, Hence, this technological marvel is on its way to make disruptions across an array of sectors. Take a look at what all areas can be transformed through Blockchain in the time to come.

VOTING

We understand how essential voting can be for any nation and its citizenry. And unfortunately, this area is prone to fraudulent activities and maliciousness. Therefore, Blockchain technologies can change the face of this domain by adding:

Security
Accessibility
Transparency
Auditability

EMPLOYMENT BACKGROUND

In the time ahead, we shall see employment screening services based on this distinct technology. Here are the areas it will make wonders come true.

Resume/CV
Employment history
Education credentials
Criminal history
Professional license as well as certification verification
Personal and professional references
Automated Legal Agreements
Employer credit reports

LAW ENFORCEMENT

The legal world is already all set to welcome blockchain use cases all around the globe. It shall affect the following domains.

Real estate deeds
Trusts
Rental contracts
Sales contracts
Power of attorney

DATA MANAGEMENT IN THE BUSINESS REALM

Blockchain has the capacity to upgrade operations in companies by:

Streamlining WIP management
Increasing accountability during quality control
program administration at a more granular level
Enhanced project scheduling
More stringent process control

THIRD-WORLD ECONOMIES

Not many people know that blockchain has already found its way into nations like Dubai. It is helping this country in 3 primary ways:

Improving government efficacy
Industry creation
Upgrading travel and tourism by pre-approving passports as well as visas for international visitors.

GOVERNMENT RECORDS

It has been projected that records with governments will be revamped by Blockchain:

Taxes
Voting records
Government healthcare records
Government pension records
Welfare records

TAKE AWAY

The opportunity doors for Blockchain Technologies are wide open. Hence, companies developing it can expect to reap a huge bounty in the years to come and the career path for Blockchain professionals is quite lucrative.

Source - https://www.liveblogspot.com/general/bitcoin-blockhain-function/

Good information

Nice

Great Info

For more information on the CBCA infographic, visit (https://www.cbcamerica.org/)

The technology space has produced a plethora of products that have helped mankind progress. But, the hype around the Blockchain Technology is something that has not been seen in decades now. This technological phenomenon is spreading is wings and is all set to take off and skywards. See it for yourself how Blockchain is attracting boundless attention from everywhere in CBCA’s latest infographic – Blockchain Technology: On Top of Investments.

The worldwide Blockchain spending is predicted to reach $2.9 Million by the end of 2019 from $1.5 Million in 2018. This just shows that the business world is opening eyes to the marvels that Blockchain can make true. Countless industries are making arrangements to embrace Blockchain and transform their existing systems for the betterment of the business.

The blockchain that was created to support the workability of Bitcoin has come out of its cocoon and built its own solid identity. If you look at it, Bitcoin was only a launching pad for this technology that has unparalleled potential to transform a myriad of industries. Banking is just one sector where Blockchain had quite an obvious utilitarian value. From voting to distribution & services to infrastructure security, a long line of sectors is waiting to be upgraded through the Blockchain Technology, thereby increasing the demand for people who understand it from inside and out.

The global blockchain spending is anticipated to pick rocket fast speed over 2018 to 2022. The overall spending is expected to amount nearly $12.4 Billion in the year 2022, as depicted in the CBCA infographic. It also reveals that the top sectors that will be responsible for this development are:

· Finance - $1.1 Billion
· Distribution & Manufacturing sector - $653 Million
· Manufacturing & Resources sector - $652 Million

And, the sectors that will have a major part (in other words, 70% share) to play in the enhancement of blockchain spending is IT Services & Business Services. Hence, the requirement for Blockchain professionals is going to shoot the roof as we speak. Employers are on a spree of spotting people who can develop and manage blockchain and help their businesses grow in today digital era,

If you have a close look at the infographic, you shall see the primary economies who will expand blockchain spending in 2019 are:

· United States – $ 1.1 Billion
· Western Europe - $674 Million
· China - $319 Million

So, it is needless to say that Blockchain professionals will be highest in demand in these countries. So, stay prepared and get certified!
For more information on the CBCA infographic, visit (https://www.cbcamerica.org/)