35 CASE STUDY GROWTH OF BLOCKCHAIN TECHNOLOGY CHANGING THE FINTECH INDUSTRIES & COUNTRIES IN 2018
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Has it come to the extent whereby the Legislatures go on an adventure exploring the Growth of Blockchain Technology?
Recently, the Colombian Senate held a debate on cryptocurrencies and Blockchain as “mechanisms to modernize the digital economy” on Wednesday, June 7, 2018.
Yeah, yeah, the truth is that,
The difficulty in really understanding the concept of Blockchain has made many stand afar and gaze at the industry.
I wouldn’t deny the fact that understanding the Blockchain itself is a problem. But yet, we have passed that stage.
I have explained it for complete Blockchain Nerds – a kindergarten Blockchain orientation you will ever live to remember.
The spotlight is that we are now in the era of its pure application – The Blockchain Technology on Projects.
After 400 days of struggling to understand what Blockchain Technology was? This is the breakthrough I FINALLY had with it. I am willing to share it using only 6,099 words, so, get the full insight of Blockchain Technology and the Sectors transformed already?
It is not a surprise that the growth of cryptocurrencies has led to enormous innovations in the Blockchain proffering solutions to so many industries.
Having already analyzed an overview of over 25 startups that have proven the worth of the Blockchain technology (explained), I can say that the Blockchain will transform every industry that embraces it.
The latest news now is that South Korea is coming back to adopt cryptocurrencies, and China having banned crypto trading in late 2017 thinks the Blockchain has a great feature application to different industries.
Now, let me ask you.
What has been your stand?
Perhaps, you may want to ask what’s is so special about the Blockchain that we haven’t had an already laid down solution.
The answer to the question is, are we satisfied with the current situation we are in, in terms of cybersecurity, data breaches, patent protection, transit, health Medicare and etc.?
Before you answer. This is what a true Blockchain believer had to say “Consider how cybersecurity institutes are struggling to fight cybercrime such as skimming, Bitcoin exchange heists and etc.
Just of recent, a small Korean exchange was hacked with millions of dollars lost which many believed affected the price of Bitcoin.
Also, think about how the data protection analysis of the Europe through the GDPR process rose from 20 million to 200 Million participants”.
The question still hangs on you, do you think we need a technology like a Blockchain to fight all the aforementioned challenges?
Going further, while I will try to avoid taking sides here, the eye-opening awareness is that the growth of Blockchain Technology has made it possible for the many markets to blossom with so much strides.
For an example, Blockchain technology of Blockpass has affected the crypto market shift positively because a lot of people see it as a great fit investing in the project.
Blockpass’s role: Blockpass offers shared regulatory compliance services for humans, companies, objects and devices. As an identity system that supports verification of humans (KYC), objects (KYO) and connected devices (KYD), Blockpass will enable the development of new applications that rely on a trusted connection between multiple entities.
• The Nano Vision Blockchain project is empowering global citizens to step up and lend their efforts to furthering disease-prevention research and development.
• The Lisk Blockchain project is helping crypto tools to be built.
So, you see, all these Blockchain projects are proffering solutions our USED-TO systems have been lacking for a long time now.
Look at this.
Would you consider MasterCard Company (partnering) to be founded on a Blockchain tech (for her customer’s data protection) if it weren’t important or the normal security systems already on ground is good enough? I doubt it in a grand style.
Now, for instance, if considering the privacy protection of my data, all I need to do is integrate SelfKey.
SelfKey is a Blockchain tech that offers users, organizations, and individuals complete control of their identity through a blockchain-based system that stores a user’s data and documents locally on their own devices.
While you will find more on 25 Live Changing Startups Using Blockchain from 2013 – Coming up, the truth is, like MasterCard, advancement is based on testing out by adoption.
- 1 THE GROWTH OF BLOCKCHAIN TECHNOLOGY CHANGING COUNTRIES DEV. STANDARDS
- 1.1 35 CASE STUDY GROWTH OF BLOCKCHAIN TECHNOLOGY
- 1.2 INDUSTRIES/STARTUPS
- 1.2.1 1. WALMART
- 1.2.2 2. BINANCE
- 1.2.3 3. NBD
- 1.2.4 4. FUSION
- 1.2.5 5. SAP
- 1.2.6 6. TRADESHIFT
- 1.2.7 7. BAIDU
- 1.2.8 8. BORSE
- 1.2.9 9. PAXOS
- 1.2.10 10. GOLDMAN SACHS’
- 1.2.11 11. MOEX
- 1.2.12 12. ALIPAY
- 1.2.13 13. ALLIANZ
- 1.2.14 14. FUJITSU
- 1.2.15 15. MASTERCARD
- 1.2.16 16. SLATE
- 1.2.17 17. GAGAPAY
- 1.2.18 18. ADCOIN
- 1.2.19 19. MASTERCARD ON DATA PROTECTION
- 1.2.20 20 HUOBI
- 1.3 ACTORS
- 1.4 DATA/STATS
- 1.5 CITIES/STATES/COUNTRIES
- 1.6 CONCLUSION
THE GROWTH OF BLOCKCHAIN TECHNOLOGY CHANGING COUNTRIES DEV. STANDARDS
The Growth of Blockchain Technology in many countries can only be accepted by data proofs because they are enormous.
In fact, a high-profile EU Blockchain initiative, the EU Blockchain Observatory Forum, was launched by the European Commission in February this year, with most comprehensive repositories of Blockchain experience and expertise.
Also, in Germany, most citizens believe that investing in Blockchain Technology is one of the preferred investments.
In Holland, Blockchain has recently come to force industries out in the Dutch context such that a major National Blockchain Research agenda had to be commissioned earlier in June 2018.
And lastly in South Africa, the first Bitcoin ATM was recently installed for crypto users to appreciate the beauty of the blockchain market.
With those established, today, I shall be using a live case study and data on the Growth of Blockchain Technology. From this study, I will feature what different tech-prenuers, crypto-millionaires think of the Blockchain technology, and many Fintech industries and countries getting involved in 2018.
About Crypto-Millionaires, these are the Top 7 Richest Bitcoin Billionaires you should follow Now!
Let’s hack in.
35 CASE STUDY GROWTH OF BLOCKCHAIN TECHNOLOGY
Note, any indication of change about the following Blockchain projects means the list is subject to change.
Walmart has embraced the Blockchain technology for its Live Food Business.
This is what the Vice President of the company had to say after an official declaration on 23rd April 2018.
“The Blockchain was able to shorten the time it took to track produce from six days to two seconds”
Data Source: Cointelgraph.com
“World‘s largest crypto exchange Binance invests in Blockchain-based E-sports platform”.
The World‘s largest crypto exchange Binance has made an undisclosed investment into Blockchain-based E-sports platform Chiliz.
Speaking of the investment, the Binance CEO Chanpeng Zhao, better known as CZ, commented that Chiliz is a “creative way to embrace Blockchain technology” that aims to promote “Mainstream adoption”.
Data Source: Chiliz’s Blog.
The United Arab Emirate largest Bank – NBD wants to implement the Blockchain technology to check fraud.
From the case study, the Bank believes that the Blockchain will be a major solution to check fraud in the UAE.
Data Source: Cointelegraph.
A Singapore-based crypto-finance company FUSION has secured $12.3 billion in financial assets.
Those assets are said to be locked in the startups’ public Blockchain platform.
Data Source: Computable.nl on May 31.
“Software multinational company announces a launch of cloud Blockchain platform”.
The Multinational Software Company SAP has launched a Blockchain-as-a-service platform called SAP Leonardo Blockchain.
The company notes that the new Blockchain service will support Hyperledger Fabric and Multichain, and will be built on top of SAP’s SAP HANA data management system.
Data Source: News.sap.com dated June 6.
A cloud-based supply chain company known as Tradeshift said it would push Blockchain Development with money it received from its latest funding round.
The series E-funding round, which included Goldman Sachs amongst its major contributors totaling $400,000,000 said that every progress would be made to kick-start the Blockchain initiative.
Data Source: CoinTelegraph.
‘Chinese Google’ Baidu to release interstellar Blockchain Game.
The Chinese search engine Baidu has created a Blockchain-based game called “DU Yuzhou”, meaning the Universe where users will receive” elements” to build their own planets while using the Blockchain features.
Data Source: Coindesk.com dated Friday, June 8.
The Dutch securities marketplace and stock exchange Deutsche Borse will be spending €270 Mln, around $325 Mln on new tech investments including Blockchain.
Data Source: Finextra.com
Paxos, an American financial technology startup known as itBit, has attracted $65,000,000 from investors, including venture capital firms.
Paxos reportedly aims to use the raised funds to bolster its operations, such as providing a blockchain-based service to financial institutions and to operate digital currency exchange and custodian itBit.
Data Source: Reuters.com on May 31.
10. GOLDMAN SACHS’
After being inundated by client requests, Goldman Sachs’ has reported that they would soon open a trading desk for Bitcoin (BTC) contracts.
As at April 2018, Goldman Sachs hired a crypto trader Jason Schmidt as VP of digital asset markets in their securities division to help clients work with cryptocurrencies.
Data Source: CoinTelegraph.
New Word: inundated – overwhelm (someone) with things or people to be dealt with.
“The Moscow Exchange prepares Infrastructure to conduct Blockchain project”.
The Moscow Exchange (MOEX) is preparing infrastructure that will allow companies to conduct Initial Coin Offerings (ICOs), which it expects to launch this year.
“Right now we’re looking at this from the point of view of fiat currencies because cryptocurrencies don’t have the status of legally protected assets.
If they obtain that status, we will place them in our system as well” – MOEX CEO Alexander Afanasiev.
Data Source: Reuters.com.
”Alipay’s parent company secures $14 Bln for Blockchain development”.
Alipay’s operator Ant International has entered into “definitive agreements” with investors to secure $14 Bln in a series C equity round. The money will be spent to pursue Blockchain and technological innovation, according to a company.
Data Source: Antfin.com dated June 8.
“Deutsche Bank, Allianz, Auto1 partners to create car financing Blockchain platform”.
German insurance group Allianz and Deutsche Bank have partnered with Berlin-based car exchange Auto1 to offer auto financing using Blockchain technology.
In an interview with Bloomberg, the new venture will offer insurance products and loan refinancing for car dealers that buy Auto1’s vehicles said Co-CEO Hakan Koc
Data Source: de.cointelegraph.com dated June 7.
“Japanese IT giant Fujitsu launches Blockchain-Based rewards system for retail”.
Having already partnered with IOTA on a monetization solution in November 2017, the Japanese IT giant Fujitsu has launched a Blockchain-Based rewards system with the purpose of innovating retail.
With this service, users can collect digital or stamps by reading QR codes located in specific areas with smart devices, and then exchange them for coupons and other benefits that can be used in stores – all recorded on the Blockchain.
In addition, collection and usage data for the points, stamps, and coupons, which are recorded on the Blockchain Distributed Ledger, can be linked with user information for analysis.
As contained in its Press Release dated June 6.
“MasterCard Company has “built a Blockchain that can run the whole network”. This was said by the Company’s vice chair Ann Cairns.
Data Source: Cointelegraph
Blockchain media company Slate Entertainment Group revealed its seven-figure’ deal on acquiring rights for a documentary about blockchain during the Cannes film festival.
Data Source: The company.
“The Gagapay network is using Blockchain to make smart marketing programs affordable and piratical for small and medium-sized businesses”.
The company plans to blend affiliate, referral, network marketing, loyalty, and bounty programs in one place on a SaaS Platform powered by a smart contract on the NEO Blockchain.
Data Source: Company.
“Adcoin has launched her Blockchain platform known as Adcoinclick to enable transparent a low-cost advertising”.
The platform will enable businesses and individuals to pay for campaigns using cryptocurrency – all the while providing publishers with an innovative way of monetizing contents directly through their websites and blogs.
Data Source : Company.
19. MASTERCARD ON DATA PROTECTION
“MasterCard files a patent for Blockchain system to secure card payments”.
The popular financial service provider MasterCard has filed a patent for a Blockchain system to secure card payments on their cards.
This is what the company had to say;
“Thus, there is a need for a technological solution to enable the conveyance of payment credential to a point of sale device that requires minimal participation by the consumer while still maintaining a high level of security, particularly against skimming”.
New word – Skimming: An act whereby an actor can pull the payment of credentials from a payment instrument, even when securely in customer’s wallet.
Data Source: appft.uspto.gov
“Crypto exchange Huobi to bankroll its own Blockchain with $100 Mln development fund”.
Coming after launching a crypto-based exchange traded fund (ETF), a type of mutual fund that divides the ownership of crypto assets into shares, the world’s third-largest currency exchange Huobi, is announcing the launch of its new public Blockchain, the Huobi Chain project (HCP).
Data Source: Cointelegraph.
There are more to the Blockchain industry.
If you want to know wholly what the Blockchain has to offer, then, I will ECLI5 you, then guide to avoid Rekt which will surely lead to Jomo, so that you can ultimately avoid Dead Cat Bounce at Demurrage.
Now, you may ask what I am talking about. Yes, this is it. If you don’t get what they actually mean, then you want to get along with them FAST before they get hold of you unknowingly. Read the Current 300+ Wise Crypto Layman Lines and Slangs in 2018.
21. ADENA FRIEDMAN
Nasdaq CEO Adena Friedman said during an interview that “certainly Nasdaq would consider becoming a crypto exchange over time”.
Freidman believes that cryptocurrencies “will continue to persist” the only caveat being the amount of time it will take for the crypto sphere to mature.
Nasdaq has already entered a partnership with Gemini exchange for scaling further.
New word – caveat: Challenge or difficulty (in terms of adoption).
22. BRIAN BEHLENDORF
“Blockchain will diminish the power of tech giants like Google & Facebook”.
The Executive Director of Hyperledger Brian Behlendorf said he expects Blockchain technology to curb the power of Silicon Valley’s major technology companies.
He said further “Tech giants such as Facebook, Amazon, and Google will undoubtedly pick up Blockchain and generate business models from it”. However, he said the core of Blockchain as decentralized technology will diminish their market power.
Data Source: de.cointelegraph.com
23. SPENCER BOGART
Blockchain Vice President Spencer Bogart, a partner at Blockchain capital, said that other banks will follow Goldman Sachs’ example in opening a crypto trading desk.
Data Source: CNBC’s Fast Money.
24. JIMMY WALES
You can’t Ban Blockchain. It’s math and an essential part of innovation – Jimmy Wales.
While speaking in Berlin, at the Block Show crypto conference, he made it known that even though he is old, and doesn’t fully get the idea of the Blockchain industry, he is not planning to do anything directly in the blockchain space although he is intrigued by the idea.
Data Source: Blockshoweurope.com.
25. JACK MA
At the second World Intelligence Conference in Tianjin, Ma said he has been researching Blockchain for years and believes strongly in the technology’s wide-ranging potential.
Since 2017, we have seen an enormous number of crypto enthusiasts who have bought into the idea of owning at least $200 Bitcoin or altcoins for themselves.
Looking at one of my favorite exchange, Coinbase, they recorded a 3,000 times growth in November-December as compared to January, 2017.
The number of women eyeing crypto investing doubled since 2017.
Over the last six months, the amount of women considering an investment on cryptocurrencies has gone from 6% to 13%.
The report was based on a market research conducted by a UK cryptocurrency exchange London Block Exchange, which shows that cryptocurrencies are most popular with women in the millennium generation, one-out-of five of whom express a desire to invest.
Data Source: Cityam.com
Love what you have read so far? See below.
“Cryptocurrency Valley’s Zug to run Switzerland’s’ first Blockchain-Based Municipal Vote”.
The Swiss city of Zug will conduct a Blockchain-powered trial municipal vote this summer.
The event is scheduled to take place between June 25 and July 1, will reportedly be Switzerland’s’ first Blockchain-Based Municipal Vote using Blockchain.
Data Source: Swissinfo.ch
“Cryptocurrencies can save EU up to €76 Bln”- Bank of Italy deputy governor.
Fabio Panetta, deputy governor of the Bank of Italy, gave a keynote address focused on the Central Bank Digital Currencies (CBDCs) at the SUERF/BAFFI CAREFIN Center Conference in Milan dated Thursday, June 7.
Where Panetta saw a key potential justification for CBDC issuance was to reduce costs in the production, transportation, and disposal of cash.
He cited estimations that these costs amount to about half of a percentage point of GDP in the EU annually, around €76 Bln – a figure equal to almost half of the annual EU budget.
Data Source: Bis.org.
Colombian Senate debate: “Blockchain could change lives”
The Colombian Senate held a debate on Cryptocurrencies and Blockchain as “mechanisms to modernize the digital economy” on Wednesday, June, 7, 2018.
The three-man committee of the senate convened by a senator of Colombia’s Green Alliance party, Antonio Navarro Wolff, mentioned Blockchain’s potential to reinforce the security and transparency of the electoral system, facilitate smart controls, and benefits the management of public services.
The participants’ included the Colombian CENTRAL Bank, the Ministry of Finance, the ICT Ministry, and Colombia’s Financial Superintendent.
Data Source: Senado.gov.co dated June 7.
“UK national archives explores Blockchain to ensure Authenticity of Digital records”.
The ARCANGEL project is considering using Blockchain tech to create immutable entries for Digital records in the National Archives of the United Kingdom.
As reported by National Archives Digital Preservation Services Manager Alex Green, their goal is that the Blockchain ledger would be used in archives both in the UK and Worldwide.
Data Source: nationalarchives.gov.uk dated June 6.
“The Chinese central bank develops blockchain system to digitize paper checks”.
The People’s Bank of China (PBoC) has revealed a Blockchain-based system to digitize paper checks.
In a statement by DI Gang, an official at the bank’s digital currency research department, said the platform comes after a year of development.
Gang said that checks will be tokenized and all operations will be conducted by smart contracts, (a blockchain-based project).
“Korea has officially launched its cashless policy since considering phasing out physical money in 2016”.
According to TokenPost, the South Korean’s Central Bank announced the official launch of its cash-free society pilot in its “2017 Payment Report”
Data Source: Korean Payment Report dated May 2, 2018,
The Netherlands’ Land Registry is expected to test Blockchain technology for national real estate data and local tech platform computable
Data Source: Computable.nl on May 31.
“Irish leads Blockchain development initiative”.
The Irish Government Agency IDA, responsible for attracting foreign direct investments (FDI), is leading an initiative to promote Blockchain investments and development in the country.
The IDA is to launch the “Blockchain Ireland,” that intends to promote the technology as well as to attract and elaborate with international companies working with Blockchain technology.
Data Source: IrishTimes.com.
“Colorado passes bill advocating Blockchain for government data protection and cyber security”.
The Colorado senate passed a bill on May 7 that involves using Blockchain tech for government record keeping and cybersecurity.
Binance crypto exchange partners with Ugandan Blockchain innovative hub “Crypto Savannah” to boost economic transformation of the country.
Data Source: CoinTelegraph.
Take heed, lest you will overlook,
Perhaps, you might have read Bitcoin’s crash course in 2015 or 2016 yet, not really understand what Bitcoin was meant to be and solve. After 15 hours of examination and study, this is WHAT BITCOIN’S FOUNDER WANTED YOU TO KNOW ABOUT BITCOIN IN 2018.
As confirmed by Brian, there is no going back in the Blockchain technology.
With such a great audacity, now, having seen the power of Blockchain finance, its applications and all analyzed. The question is, what do you make of it?
Do tell me what you think below, but this is what I think. As far as these world power countries have adopted Blockchain Technology, are we then to say no, or consider it a worthless project when Billions of Dollars has already been poured into it?
Be it as it may. I am happy that the amount of women considering an investment in cryptocurrencies has gone from 6% to 13%. So, at least, if you don’t trust all the above companies/startups, Blockchain actors, Fintech industries, you can at least agree to be led like a sheep by the crypto women.
Power to the crypto women!
LAYING IT DOWN
Alright, as never before. I took our time to make this worthwhile in order for you to see the true picture of how far the Blockchain Technology application by adoption has gone.
So, I just believe you have learned one or two, or even more things from this Case Study on the Growth of Blockchain Technology.
What more can I say?
If you are interested in the Blockchain industry, I would suggest you do more personal findings if you want, and if positive, get involved now the crypto market is at dip (as at 25/6/2018).
Great, you have seen what the Growth of Blockchain Technology and its application by adoption, the question now is, what great limitation do you foresee, if none, would you get involved if you had the incentive (money) to?
Give yourself a pat on the back if you now understand this subject by commenting below.
(Let me know your thoughts below. Don’t worry, comments comptroller are spam free!).
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Disclaimer: I am a Blockchain Investor. I fell in love with the Ripple and Litecoin Projects, and currently, I am looking at the potentials of Lisk and EOS Blockchain Projects.
This piece of content is for educational purpose, and not to be taken as a financial advice.