What is blockchain?

Blockchain is a collection of Distributed Databases which are all updated in real-time in consensus fashion depending on back-end cryptographic protocols

Why blockchain?

Why the Need for Blockchain / DLTs?

✓  Conventional ways of managing identity management, supply chain, finance, Ledgers, etc. are failing to adopt to the fast-changing world of decentralization For example, the accidental $35 billion Deutsche Bank payment issue in Germany or the $16 billion lost by the digital advertising industry last year through fraud or the $2 billion PNB Scam in India Even worse, in the US alone, 16.7 million people were victims of identity fraud in 2017.

✓  Failure to keep transaction and maintenance costs low, inability to retain robustness of solutions, lack of scalability across millions of users as well as wanting to remove the middleman during transactions ✓  DLTs give you the unique ability to manage multi-party transactions, issue smart contracts and store important information in an immutable and cryptographically secure manner

Where can Blockchain be used?

✓  Department of Homeland Security (DHS) uses Factomm (a Bitcoin Blockchain Derivative) for Deeper Device Level Identity & Data integrity of IoT systems

✓  IBM partners with SecureKey and Canada’s 5 largest Banks for Blockchain based Digital Identity System which will then replace Credit Buereaus

✓  Chronicled, Aerotoken, Dorado and UPS uses Microchip enabled Drones to give each drone Unique identity on the Blockchain (Hacking / Hijacking of Drones becomes difficult), thereby reducing last mile delivery costs by 50%

✓  Fujitsu, IoTA and EYEFI in Melbourne developed Smart Garbage Bins and Smart Drains Technology

✓  Waltonchain (WTC) combined RFID and blockchain technology to provide complete data sharing and absolute information transparency

✓  Fujitsu has developed blockchain based system for IoT Data Integrity verification & Exchange