Cryptocurrency is hot right now and my opinion is to be very careful when investing in this market. Cryptocurrency is used in every industry and here are some examples. Healthcare blockchain cases : Gem—With a goal to give patients control over their medical records and genomic data by using a blockchain solution, Gem has also partnered with Centers for Disease Control and Prevention to experiment with using blockchain to monitor infectious diseases.
Blockchain in retail : Blockpoint—Simplifies the creation of payment systems and allows mobile wallet, loyalty program, gift cards and other point-of-sale functionality.
Medical centers that have digitized their patient records don’t distribute their data across multiple facilities, instead keeping them on-site on centralized servers. These are a prime target for hackers, as evidenced by the ransomware attacks that struck NHS hospitals in the UK. Even if security risks are overlooked, there is still the problem of fragmentation. There are currently more than 50 different electronic healthcare record (eHR) software systems that operate in different hospitals, often with dozens of different packages within the same city. These centralized systems do not interoperate with one other and patient data ends up scattered between disparate centers.|Blockchain is now being used to support sustainable fishing. Illegally caught fish is an endemic problem within the industry, and distributed ledger technology provides a means of proving where fish were caught, processed and sold. This ‘net-to-plate’ chain allows inspectors to determine whether fish had come from regions notorious for human rights abuses or from countries that are affected by economic sanctions. See extra details on what are crypto wallets.
Every single person on the network has access to the ledger and can see all the transactions. This means there is no centralized copy that can be tampered with. All the data stored on the blockchain is also encrypted so while you can see the ledger, it’ll look like a bunch of numbers and letters rather than “John Smith spent 10 Bitcoin on 6 Tonnes of Saffron”.
In terms of the advantages blockchain technology can offer within the travel industry, stability and security rank very highly. The decentralised nature of the blockchain means that information can never go ‘offline’ or be lost through accidental deletion or a malicious cyber attack, ensuring transactions are always traceable. Over the past decade, the Internet and software have made the transaction of money practical. You can easily shop online and trade securities. But transferred financial assets go through correspondent banks, archaic systems linking clearing houses, and central depositories. Sometimes it takes many days for the funds to reach an account or purse to settle. Not only are these systems slow, but they are expensive and unsafe. Blockchain development is addressing this problem by restructuring fundamental business transactions, including money market transactions, and introducing new forms of digital interaction.
Here are some terms explained : Airdrop: A marketing campaign that distributes a specific cryptocurrency or token to an audience. It is usually initiated by the creator of a cryptocurrency in order to encourage use and build popularity of the coin or token. Most airdrop campaigns run with mechanics such as receiving coins or tokens in exchange for simple tasks like sharing news, referring friends, or downloading an app.
Byzantine Generals’ Problem: A situation where communication that requires consensus on a single strategy from all members within a group or party cannot be trusted or verified. An example of this agreement problem is where a group of generals, encircled around a city, must decide whether to attack or retreat. Every general must agree to attack or retreat, or everyone will be worse off. Some generals may be treacherous, voting falsely, and messengers may deliver false votes. Under these circumstances, a consensus must be reached. In cryptocurrency, when network participants post false or inaccurate information to others about transactions taking place, it could lead to network failure. *see Byzantine Fault Tolerance (BFT).
Distributed Ledger: Distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. A distributed ledger does not necessarily involve a cryptocurrency and may be permissioned and private.
And the latest crypto news : Chinese cryptocurrency mining giant Bitmain is revisiting plans for an initial public offering (IPO,) Bloomberg reported on June 21. The company had filed to list an IPO on the Hong Kong Stock Exchange, but the application expired on March 26. Now, Bitmain is reportedly planning to file listing documents with the United States Security and Exchange Commission, potentially paving the way for a share sale to take place later this year. While the company was hoping to raise $3 billion from its planned Hong Kong IPO, the Bloomberg report suggested that this fundraising target will be reduced to between $300 million and $500 million if it lists in the U.S. Read extra details at Litecoin (LTC) Price