The Blockchain Academy Blog

Understanding Smart Contracts

The Blockchain Academy is ever ready to provide in-depth information to the bitcoin enthusiasts and blockchain users belonging to different industries, all over the world. In this post, I have decided to discuss the ever popular idea of smart contracts, which is in the limelight since the emergence of revolutionizing yet controversial technology of blockchain. 

So, what are people discussing about when they discuss about the smart contracts? In the context of the blockchain technology and cryptocurrency, the smart contracts are:

·         Pre-written logic (computer code)

·         Saved and replicated on the distributed storage media (For instance, a blockchain)

·         Run or executed by the computer network (generally the same ones operating the blockchain)

·         Can lead to...

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Blockchain Applications in Capital Markets & Global Trade Finance

Uncategorized Aug 23, 2017

Blockchain is indeed rising as one of the biggest revolutionary technologies for a number of industries, as discussed in last few posts of TheBlockchainAcademy.com[1]. We have been in the process of highlighting the potential of blockchain to the best we can, since it is expected to transform the way various industries work, to an incredible extent. This time the industry we have selected to discuss in regard to expected blockchain impacts upon it, is capital market and global trade finance. This industry is of prime importance since majority of the digital transactions around the world are carried out here, both with higher returns and risks involved. Let’s see how blockchain applications are on the way to place themselves within their scope.

Blockchains are developed on the stream of innovations in organizing and distributing data. The aim is to develop a single truth version, used by all the parties or participants, containing a much enhanced dataset than exist in any of...

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Blockchain and Global Shipping

Uncategorized Jul 12, 2017

We at TheBlockchainAcademy.com[1] has already discussed the transformations brought about in a number of industries around the world. In this article, the industry we are going to discuss for block chain technology adoption is global shipping. Global shipping, one of the biggest industries in the world, covers almost every region and involves trade in every country around the globe, with more than 4 trillion USD in goods being shipped around the world every year[2]. Never the less, the systems enabling all this trade, have not been much changed in last 60 years, and a lot of cases are still relied on matching physical paperwork with payment and shipment data. Now freight forwarding and global shipping businesses are taking new initiatives to leverage the potential of block chain for streamlining the tracking and administration of cargo, which is expected to revolutionize the shipping industry itself.

The end-to-end block chain solution is expected to alleviate the problems...

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Can Governments Encourage Blockchain Innovation

Uncategorized May 15, 2017

TheBlockchainAcademy.com[1] has been a keen and consistent provider of corporate training and development to government organizations’ employees. In view of the rising blockchain technology, we can’t neglect its potential role for governments around the globe. Our research urged us to determine whether the governments are equally embracing the blockchain technology benefits just like other industries and institutions and are they willing to support the blockchain innovation in their respective economies. This article talks about this.

In order to determine the government’s support for blockchain innovation, we will have to see the benefits first, which it brings to governments. Government services sector is one of the most immediate and evident application areas for blockchain. A number of governments all over the world are already working on a range of initiatives. Let me explain some examples. In Delaware, where most of the new businesses in North America are...

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Thoughtful Blockchain Regulation without Stifling Innovation

Uncategorized May 01, 2017

In this post I would be discussing the hot debate going on regarding blockchain regulations and the way it can be balanced with innovation. Blockchain technology, as we have discussed quite a lot of times before, is a distributed ledger that underlies crypto-currencies, and has become a vital factor for financial industry as virtual currencies like bitcoin are becoming increasingly popular. The rise of the blockchain technology can greatly transform how monetary transactions are carried out around the globe, leading to major disruptions for many industries, especially banking and finance. And like anything else concerned with money, the emerging blockchain technology is also raising cyber security and regulatory compliance questions both for businesses and consumers it serves.

In view of the polarizing debate regarding bitcoin, the regulators must think whether blockchain technology is equivalent to Internet of 25 years ago. Bitcoin, which raised the concept of blockchain in...

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What Impact will Blockchain Patents have on Blockchain Development?

Uncategorized Apr 24, 2017

Here we are again at www.TheBlockchainAcademy.com[1] to bring some of the latest blockchain developments. A much hyped issue that has been a center of experts’ attention is blockchain patents and the impacts they will be having on blockchain. We want to highlight it in view of a patent’s land grab being developed in the blockchain space, which can potentially make business operations more challenging to handle for those seeking to build upon open source technologies in the future. Are patents going to be beneficial for blockchain adoption or they will they just be a hindrance? We will try to find the answer here.

Bank of America is leading the march in adoption of latest developments going on in the technology behind digital currency bitcoin, by having an increasing number of blockchain-based patents[2]. Blockchain functions like a massive decentralized ledger for bitcoin, the digital currency, which records each transaction and saves the information on a global...

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Will Blockchain streamline Securities Lending?

Uncategorized Apr 17, 2017

It seems that newer and more valued developments are going to continue in lieu of blockchain technology in the coming year, and TheBlockchainAcademy.com[1] will make you understand the ways to embrace these for your businesses in 2017. After bringing revolution for a number of industries including banking & finance, global freight and trade, e-commerce, patents, digital regulations, the blockchain technology seems to expand its area around securities lending, all around the world. It can be said so in view of the latest testing case of blockchain system for securities lending, by State Street, which opens a new area of discussion in the course of technology development.

State Street Corporation has recently tested the blockchain system in an effort to streamline its securities lending process, since the financial sector has speeded up its efforts to adopt and apply this emerging technology. The State Street’s senior Managing Director of Emerging Technologies Center, Hu...

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Bitcoin Mining is Too Expensive!

Uncategorized Apr 10, 2017

For all the fluctuation in bitcoin pricing, the year of 2014 is looked as a year when bitcoin started to shift past the proof-of-concept phase and towards mainstream markets. More than 6 million bitcoin wallets were set up in 2014, as stated by Coindesk, which is a huge increase over 2013, while around 75,000 merchants are now accepting digital currency, including Expedia, Dell and Overstock[2].

However, one area of the bitcoin economy is maturing much quicker than the others, even to the point where profits are getting increasingly difficult to come by and diversification and consolidation are already taking place: the bitcoin mining. For years, bitcoins had been mainly a far-flung network of the desktop hobbyists. However, a small group of businesses developing big data centers is ready for the sole task of mining the new bitcoins.

Though, mining is the throwback to the pre-digital period of gold pans and pickaxes, bitocins are mined in a different way, by leveraging computing...

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Is every Blockchain Project worthwhile? Or are many useless?

Uncategorized Apr 03, 2017

In last few posts at TheBlockchainAcademy.com[1], we have already observed that blockchains are often over-hyped enough to let everyone climb on the rope, especially the start ups looking for harnessing the blockchain technology sooner. Well, everyone who is thinking to set up a start-up in the blockchain space must read this post, since the industry still seems in its infancy. Everybody is grasping for the buzzword that may, in reality, be well-sorted with the relational database and it can be there is no need for the blockchain in the concept. All of us, being a part of the industry, are waiting to have a clearer understanding of where exactly the blockchains can genuinely add value in an enterprise project, and where we can just have a useless outcome. This blog sets out to define the scenarios which become the basis of making this difficult decision.

If your project requirements are met by relational databases available today, don’t be insane to initiate a blockchain...

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Understand DAO's (Decentralized Autonomous Organizations)

Uncategorized Mar 20, 2017

Blockchain technology and increasingly advanced protocols being developed out of the concept, have gained global recognition by the corporate world, especially the banking and finance industry. The hottest buzzwords include the idea of Decentralized Autonomous Organizations (DAOs), which TheBlockchainAcademy.com[1] has included in this post to discuss, in continuation of providing highly researched blockchain content for the readers and end users.

A decentralized autonomous organization, also called a decentralized autonomous corporation sometimes, is the entity that is operated by means of rules encoded as computer programs termed as smart contracts. The financial transactions record and the program rules of the DAOs are maintained on the blockchain[2]. A lot of examples of this kind of business model are seen, while the accurate legal status of this kind of business organization needs more research and analysis to be described.  The biggest example of this model is the DAO...

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