Blockchain Technology Revolution in Business Explained: Why You Need to Start Investing in Blockchain and Cryptocurrencies for your Business Right NOW
By Bob Mather
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About this ebook
If you want to learn about how Blockchain technology can impact the future of your business, then read below.
Blockchain is the tech of the future. But if you're not already working in the field or studying the depths of blockchain, it can be difficult to find information in layman's terms.
As a business owner, especially a small business owner, we are always looking at ways to improve the efficiency of our business; especially when it comes to marketing and financial transactions. Blockchain Technology could revolutionize the way business is done.
Here's a few things you can learn from this book.
The history of cryptocurrencies and Blockchain Technology.The One Industry Where BlockChain has significantly improved security.How one company has revolutionized the way contracts are made.5 Different Ways Blockchain Technology to move aheadThe Limitations of Blockchain and how to overcome this.
If you're ready to have a tool that will show you the future of blockchain technology, then this is your chance. Download your copy now so you can get started on what is promising to be a most amazing future.
Read more from Bob Mather
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Blockchain Technology Revolution in Business Explained - Bob Mather
Explained
Disclaimer
Copyright © Abiprod 2018
All Rights Reserved
No section of this book is allowed to be transferred or reproduced in print, electronic, audio, photocopy, scanning, mechanical or recording form without prior written consent from Abiprod Pty Ltd.
The author and published has taken great effort to ensure accuracy of this written content. However, readers are advised to follow information in this book at their own risk. The author and publisher cannot be held responsible for any personal, commercial or family damage caused by the information. All readers should seek professional advice for their specific situation.
TABLE OF CONTENTS
Disclaimer
The history of blockchain and cryptocurrency
The Original Problem with Digital Transactions
Most Digital Purchases are Bank Transfers
Bank Transfers Are Tracked with Physical Items
The Double Spending Riddle
Banks Are Prone to Double Spending, You Just Don’t Know
How to Prevent Double Spending?
Everyone Keeps Track of Everyone
Worker ID
Coin ID
The System Isn’t Complete
Encryption is Needed for This to Work
Anyone Can Transfer the Number 1
Breaking and Gaming the System
How the Ledger Works
Everyone Sees A Transaction
Transfers Are Verified with Ledger Comparison
It Usually Has A 100% Threshold
Blocks are Used for Small Comparisons
How It Spreads
Rarity Equals Value
Competitiveness Drives Rarity
This is How Fiat Currency Works
Cryptocurrency Only Works with the Internet
Cryptomining Is A Collection of Methods
Proof of Work Methodology
CPU Mining
GPU Mining (Graphics Processing Unit)
With Each Coin Comes A Different Type of Blockchain Sort Of
The BlockChain could Only Be Used for BitCoin
Understanding the Blockchain Caused Comparisons
The Smart Contract Was Born
The Smart Contract Wasn’t Directly Connected
The Ledger is The Blockchain
Ledger is Used By Rationalizers
How BlockChain Technology is Implemented in Finance and technology
Blockchain Anon Systems
Instant Secure Cross Border Payments
Secure Identity like IOTA
All Companies Will Participate in the Internet of Things
It’s Not A Blockchain But A Blocknet
Everyone Involved is Involved
Enforced Accountability
All Actions Can be Recorded and Non-Editable
Blocks Can Be Assigned to Members
A New Supplier Network
Recruitment Reference Checks BEGONE!
Payments with No Middle Man
Cryptocurrency Has No Border, Et tu Blockchain
In-House Cryptocurrency
Ripple: Earthport Service Payment System
What is it? It’s Not a Blockchain
XRP Tokens Finality with Drops and IOU Non-finality
Marketmakers: Buy and Sell Orders
How BlockChain Technology is Implemented in Smart Contracts
Ethereum and Smart Contracts
With Ethereum Came Smart Contracts
What is a Smart Contract?
Proof of Stake
It’s Still a Blockchain Sort Of
Smart Contracts Are Not Applicable to Everything
Conditionals Are Binary
Conditionals Have to Be Binary
Listener Overload
The Future of BlockChain in Marketing and Sales
Universal ID Distribution
Non-User Based Tracking
Success and Fail Profiles
Advertisement Auditing
Showed Versus Clicked
Company and Product Authenticity
Anyone Can Use A Bar Code
Branding With Special Font Encryption
Products Can Tell A Story
Anonymized Marketing
Personal Ads Without Being Personal
Ads Fit the Audience and Sometimes the Person
Blockchain Profiles and Saving Money
Make Money On Adcoins
Possible Government Compliant Ad Database
No Leakable Points… Sort Of
How BlockChain Technology Improves Online Safety
Secure Storage and Complete Encryption
Encryption with a Unique Algorithm
Obscuring Data Location
A Backups Backup
Restoration of Modifications
7 Years on Everyone’s Computer
You Can Backup Blocks Or Blockchains Entirety
No De-Platforming
What is De-Platforming?
Blockchain Cannot Be Blocked Directly
Blockchain Has No Borders
Limitations of the BlockChain
Public Acceptance
People Generally Don't Understand Technology
Campaigns from Competitors
Cryptocurrency Bane
No Mainstream No Acceptance
Government Acceptance
Governments Are Slow
The Bane of Cryptocurrency on Blockchain
Difficult to Regulate
Difficult to Monitor
Financial Institution Acceptance
Cryptocurrency Has Proven to Be Unstable
It Takes IT to Explain it
It Takes Cooperation
It Takes Mainstream
Breaking the Mechanism
Users Are Still Lazy
Encryption is a Delay Tactic
How to Overcome these
Educating the Public
Don’t Primarily Focus on Adults
Put It In Teen Products
Teach the Kids
Working within The Loopholes
Open Companies in Digitally Unregulated Areas
Apply Blockchain in Less Known Industries
Blockchain Implementation Via Creeping
Setting Up the Finance Details and Security
Conclusion
Blockchain Is A Powerful Technology
A World Devoid of Middlemen
The history of blockchain and cryptocurrency
Before we get started, I just wanted to talk about how excited I am about the potential future of blockchain technology; not just in business, but in every aspect of our daily lives. For the last decade, we have seen technology progress at breakneck speed. The advent of the internet, smartphone technology, video streaming, social media and online businesses have changed the face of the planet. However, there have been some downsides. Online privacy has taken a backseat for the average consumer, in the search of more business. Google and Facebook have decided that the pursuit of more clicks and revenue supersede our personal privacy.
Enter blockchain. Blockchain has the potential to give us more privacy through innovative encryption of our online activities. This could give businesses the info they need while protecting our privacy.
It also has the potential to revolutionize the way that transactions are made; eliminating the need for the middleman to check the authenticity of these transactions.
Now let’s get started!
The Original Problem with Digital Transactions
Most Digital Purchases are Bank Transfers
Believe it or not, most digital transactions still occur like a normal bank transfer would nearly three decades ago. The only real difference is that it goes to a middleman before it is approved. You start a transaction since you want to pay for some item, the amount or, rather, the number associated with the amount is then sent to an auction clearing House. This clearing House talks with the associated bank you're giving the amount of money to and ensures there is an account to transfer to. That same clearing house also asks if the bank you're transferring from has an account with the number of the amount associated with it. Once it confirms both sides exist and you have money, it then commits the transaction.
As computers have gotten faster, these transactions have gotten faster as a result and so it's barely noticeable to the average consumer. However, essentially, you are doing a wire transfer every time you use a card, every time you use PayPal, and every time you use something like Google Pay.
Bank Transfers Are Tracked with Physical Items
The way that banks are able to do this is because they have an exchange rate. That is, they have a rate of which items can be exchanged in their program otherwise known as Fiat money. It is not the same exchange rate that is referred to when talking about the value difference between dollars.
What this is talking about is that the bank in question has a certain amount of value in dollars that can be transferred. While money used to be a physical item, it's not anymore, well with a majority of money that there is. Most money is digital because it allows for inflation and deflation of a currency by those who make that money. This actually makes the value of that money much easier to control rather than relying on physical items, but banks still make transfers with physical items.
Usually, at the end of the week, there is a security truck that transfers the amount of money that has been transferred out of that bank going to a depository that will then disperse this money amongst the banks who have claims to it. The bank that sent out the money will also get its own version of a security truck holding money for money that