When you hear of Blockchain, some keywords that can help that conversation going are Cryptocurrency, Bitcoin, and Ethereum.
In reality, the main concept of blockchain is not limited to currency. Imagine a never-ending storage space with plastic containers that you can store data in and organize related container data next to each other. The original concept was even simpler; time-stamping without the worry of editing or forging the original document.
Applied in real world and tangible situations, many have been inspired by this growing trend and using it as a safer means of copyrighting or claiming certain creations. Medical Genomics, a specialized cannabis breeder has created various strains of medical grade marijuana and storing them in the Bitcoin ledger. Fire OG in California may be a whole other strain in Colorado. Because this industry is still fairly new, Medical Genomics has taken it upon themselves to create strains and store the weed’s genetic makeup in the Bitcoin blockchain system.
The next application is Axiom Zen’s attempt at educating people on how Ethereum works. By using the Ethereum ledger as their platform, they have created a virtual game called CryptoKitties. The concept of this game is to create different breeds of kittens by finding specific traits (or blocks) from other users and trading or obtaining the traits via smart contracts. One kitten sold for $140,000 USD worth of ether.
Onto more realistic uses of Blockchain in real life comes the use of RFID tags to track sea life through the Ethereum blockchain. Fishermen and restaurants local to the Philippines have greatly benefited from this technology as the study of tagged fish lets contracted fishermen know where they need to be fishing and the safest areas where their tagged fish are living. Sushi is now being served at participating sushi bars with greater supply on hand than competing restaurants.
To learn more about Blockchain, visit our previous posts on this subject. To arrange for a guest speaker at your next event, please contact Bettsy Farias at bfarias@globalhit.com
Sources:
Motherboard.Vice – The World’s Oldest Blockchain Has Been Hiding in the New York Times Since 1995
https://motherboard.vice.com/en_us/article/j5nzx4/what-was-the-first-blockchain?utm_campaign=Issue%3A+2018-08-31+CIO+Dive+%5Bissue%3A16917%5D&utm_medium=email&utm_source=Sailthru&utm_term=CIO+Dive
Motherboard.Vice – Weed Growers Are Racing to Register Their Strains on the Bitcoin Blockchain
https://motherboard.vice.com/en_us/article/ezpkx4/weed-strain-bitcoin-blockchain
Motherboard.Vice – I Bred ‘Crypto Kitties’ on the Ethereum Blockchain
https://motherboard.vice.com/en_us/article/bj78jv/cryptokitties-blockchain-cats-axiom-zen-game
Motherboard.Vice – A Revolution Per Minute: Photos From the Ethereal Summit
https://motherboard.vice.com/en_us/article/3k4qkj/ethereal-summit-consensys-blockchain-conference-ny
