The Future of Blockchain
“To allow you to be in control of your credentials and share them and revoke them whenever you need to — something like that getting started either within professional qualifications or education could be the kicker that a number of industries start to follow.” — Chris Clements, senior development manager, new ventures and blockchain at PWC.
We’ve recently seen new frontiers for blockchain at the Blockchain Expo in London. Blockchain for Finance, Ethical Blockchains and an ongoing drive to mainstream adoption are curving the drive of new security. But we ask, why has blockchain never entered mobile?
Let’s start right at the beginning, how does it work?
Blockchain is a string of data, akin to a chain. As a new chain link is added, there is a check to ensure the chain has not been changed or altered. Blockchains are known as ‘immutable’, as previously stored data cannot be physically altered. There are 3 variants for permission:
a) The control of the blockchain can be permissionless, i.e completely decentralised, just as Bitcoin operates.
b) Semi-permissioned blockchains which operate like Ethereum
c) Permissioned blockchains where third parties control the blockchain.
Data, data privacy, distributed data — that’s the hot topic. The people who can resolve that will be the winner. — Phil Zamani, Co-CEO, aergo.io