About Blockchain
The Future of Society, Commerce & Disintermediation
Technological and societal advances are paving the way for new ideas to organize and faciltate business relationships and our personal lives: instead of traditional centralized, top-down value streams managed by governments, law firms and authoritarian establishments....participative, multi-stakeholder and bottom-up based-transactions are getting increasing attention via Blockchain technologies. No longer do we need bureacracy, regulation and inefficient entities dictating our human interactions. The emerging societal trends and technologies challenge the role of traditional intermediaries where centralized, well-established and regulating entities provide a basis for property and value interactions. The nascent, shared economy needs mechanisms and relationships that help build confidence between global societies and people in distributed, decentralized and secure ways. Shedding the shackles of past impracticalities and injustices that infringe upon Natural Rights will guarantee the true promise of Life, Liberty, and the Pursuit of Happiness.
Heard of Bitcoin or Ethereum?
Although commonly associated with Bitcoin and cryptocurrencies, Blockchain technology has many other applications that go far beyond digital currencies. In fact, Bitcoin is only one of several hundred applications that use blockchain technology today. Until relatively recently, building blockchain applications has required a complex background in coding, cryptography, mathematics as well as significant coding and development resources. But times have changed dramatically. Previously unimagined applications via “smart contracts” from electronic voting & digitally recorded property assets to regulatory compliance & trading are now actively being developed and deployed faster than ever before. By providing developers with the tools to build decentralized applications, open source platforms such as Ethereum are making all of this possible.
Transparency and Trust
Concerns over a lack of transparency in various industries have long plagued digital societies. This is where Blockchain technology can really help to solve these very issues: lack of transparency and murky reconciliation. In a Blockchain, once a transaction is validated through a consensus process, it is also committed to all ledgers in the network. Outside of cryptocurrency applications, Blockchains deliver greater efficiency, reliability and high-quality data to business processes which are the supply chain.
A Blockchain network also greatly lowers the costs of transactions due to its decentralized nature where there is no middleman or third party that arbitrates or gets a cut of a large business deal. Safety and security for data is also provided by cryptographic techniques that keep it tamper proof and uncensored. The most important features are the ability to keep a fully verifiable and immutable ledger or database layer of trust and transparency that isn’t always available within conventional business processes.
Because decentralized applications run on the blockchain, they benefit from all of its properties.
- Immutability – A third party cannot make any changes to data.
- Corruption & tamper proof – Apps are based on a network formed around the principle of consensus, making censorship impossible.
- Secure – With no central point of failure and secure using cryptography, applications are well protected against hacking attacks and fraudulent activities.
- Zero downtime – Apps never go down and can never be switched off.
Life...Art, Music, Authors and Musings
Oscar Wilde, opined in his 1889 essay The Decay of Lying that, "Life imitates Art far more than Art imitates Life".
Art, Music and Written Expression is empowering. They have the power to sustain, to heal, to humanize…to change something in you. It's a frightening power, and also a beautiful power....And these sensory delights are essential to civilized societies.
For example: Provenance (record of ownership) and authenticity are the main determinants of any artwork’s value outside the admirer’s enjoyment. The artist and creator of these enjoyments should have ultimate control over their work and rights. In our current age, it is impossible to have complete confidence about these aspects for many artists because of corruption, collusion, plagiarism and illegal copying.
We live in a world where Art, Music, Print and Digital Media coalesce but also collide. Blockchain enables people, creators and authors to efficiently, permanently memorialize and expertly protect artwork and transactional data. Blockchain using tokenization (converts rights to an asset into a digital token) is also a way to allow easier access to wider markets and potential investment; reducing transaction costs while increasing liquidity.
Froma a commerce perspective, Blockchain’s immutable registry tracks histories, provenance, and archival material thus allowing buyers to remain anonymous, if they wish, and thereby increasing buyer and seller confidence.
We know what we are, but know not what we may be. - William Shakespeare
Life is uncertain, unpredictable. In this digital age, day by day, life becomes increasingly more complex and scary. We have trust issues with those we wish to trust without question: our Governments. Our digital identities and and well-being are at risk, constantly.
In today’s rapidly modernizing digital economy, government organizations must improve efficiencies and cybersecurity to sustain the overall health and fiscal posture of the agency. People Chain, through collective partnership with YOU the Public, views digital transformation strategy as the foundation and core driver to improve productivity, efficacy, information security and collaboration with government. While protecting people’s data and identities.
Creation of a transformative digital roadmap is vital to understand this important journey along with the recognition that a successful strategy is not a “one-size-fits-all” approach. Rather, it involves innovatlie, hybrid technology solutions that are highly dependent on realistic goals, accountability, and a solid futuristic vision. For governmental agencies in charge of public records, registries, mission-critical files, or otherwise highly sensitive data – Blockchain offers an end-to-end solution, cryptographically proven to deliver authenticity, confidentiality, integrity and high availability for digital assets.
Adoption of Blockchain-based technology solutions for government agencies drives increased efficiencies for two prominent reasons: (1) The solutions strengthen the fundamental security of data hosted by government agencies; and (2) the technology lays out the foundation for a more trusted relationship between government and citizens.
Blockchains allow for the encrypted, immutable recording of a transaction or event via a distributed ledger — which vastly improves security while also reducing the cost and complexity of everyday tasks.