The island nation, Bermuda, receives interest from financial giants, boosting potential operations and investment. R3, a tech company, wanted to hit home how important distributed ledger technology could be to island operations and business.
The various applications of blockchain have been the driving force behind the growing interest in the digital currency industry, and its stature in terms of attracting investment and talent. While we have seen many innovations in blockchain use over the last few years, a new one seems to appear every month, and this is no exception. By using a combination of a tamper proof seal equipped with a near field communication chip loaded with identification data about a package, and registering that data onto a blockchain for immutable verification, Chronicled have created a system that tracks and verifies valuable cargo in one operation. Cryptoseal offers visible proof of tampering along with digital verification the parcels integrity.
WINGS, a DAO management, creation and partnering platform has joined with Airbitz, a mobile bitcoin wallet. This will provide ease of management, and security to crowd funding and other ventures involving the blockchain.
Blockchain and its increasingly deep relationship with money and the financial industry were at the forefront on the first day of the conference.
There have been many suggested applications of blockchain technology over the last few years, especially within the financial industry. However, a recently published patent by AT&T is perhaps the most relevant yet for the broader public and help raise awareness of the technology to new levels. The new patent proposes a subscriber home server, that is, a home content delivery device that both verifies subscriptions and delivers content, like a cable box, using the distributed node network model. The blockchain powered entertainment delivery is designed to add security and stability over existing systems.