The Evolution Of Blockchain
An update on blockchain tech in business
Blockchain technology is among the most disruptive forces of the past decade. ICYMI: blockchain is a system where information is stored in “block”s that are linked together in a “chain”, in chronological order. Any information recorded must be verified by a network of computers and cannot be changed or deleted. This makes data stored in a blockchain extremely hard to tamper with. So, what are some of its business uses within our sights today?
The UK is exploring the use of blockchain for its potential in streamlining a more efficient welfare system. In the HR industry, Ascribe and Recruit Technologies are developing a blockchain authentication service that would verify official certificates and resumes. In commercial real estate, HerenBouw is applying blockchain to a large-scale development project in Amsterdam’s harbor. The technology is especially opportune in projects involving large teams of contractors and subcontractors as well as myriad building codes, safety regulations, and standards.
Smartlands is one platform using Stellar—an open source blockchain protocol that facilitates money transfers across borders—to help investors gain exposure to different property markets. The platform allows real estate developers to issue tokens that are linked to a specific property. Investors can buy and trade these tokens—a small fraction of the buildings’ equity—on Smartlands as well as sell them in a secondary market.