blockchain

Blockchain Technology to Track Real Blocks

- Adam Clare 1 Comment

Blockchain technology is changing the world of commerce and law, now it can be used to track real world blocks instead of just digital blocks. The technology got attention thanks to the rise of Bitcoin, which is still going strong, and has been improved since then. More recent takes on the technology like Ethereum have evolved blockchains to be more robust, faster, and malleable for unique circumstances. A new startup, Peer Ledger, wants to use this technology to monitor ethical mining practices.

However, Ms. Jutla says there is mounting pressure from the international community to stop the unethical production of minerals, and she says Peer Ledger’s Mimosi product provides a solution to this problem. Mimosi uses a private permissioned blockchain, which chronologically and permanently logs information that’s copied across a computer network accessed by multiple collaborating parties. When a transaction is carried out, it’s grouped together in a cryptographically protected block. In the case of the Mimosi technology, every transaction involving a source of ore can be linked back to older blocks containing previous sales transactions for the ore. This allows Mimosi users to trace gold and other precious and industrial metals (mainly tin, tantalum and tungsten) from the refiner, to the processor, to the distributor.
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Ms. Jutla is confident customers will want Mimosi. Not only does she think the technology will make it tougher for unethical sources of precious and industrial metals to make it into the supply chain, she says it will reduce a client’s compliance costs in this area by 75 per cent.

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Hermicity: A Drone-Based City Where Inhabitants Eat Soylent

- Adam Clare

Hermicity is a proposed community for hermits. The inhabitants would live on their own to cater to their need for isolation, they won’t even need to go to the grocery store. Drones would be used to deliver the meal alternative Soylent to the people paying to live in the community. What’s more is that the entire operation will be based around a blockchain!

This is how it’s described on the website:

A hermit colony ran as a decentralised autonomous organisation on the ethereum blockchain.

We now have the technology to allow people to live completely alone. Drones will airlift soylent packets and water to the members of the hermit colony.

Membership is paid with ether to a smart contract. The smart contract sends drone from a solar powered docking station to the members.

In an interview this is the way the creator described his motivation:

almost every great thinker has spent much time alone. I know the time I have spent alone (admittedly somewhat forced by circumstance) has made me a wiser, more intelligent person. Perhaps by making being alone more accessible we can unlock a lot of human potential that is standing idle at the moment, locked away in bodies that are too distracted by the other bodies around them and are therefore unable to look in and unlock their unique ideas and energy.

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A Way to Think About Digital Currency Replacing Cash

- Adam Clare

Bitcoin, Dogecoin, and other digital currencies are shaking up how the internet thinks about money. In turn, this has forced countries and large institutions to rethink how money works and who claims to have control over it. Perhaps it’s time for the decentralized blockchain-systems to replaced by a robot-controlled centrally-backed system. Or, at the very least, let’s think about it.

Currently, coins and paper notes are the only state-issued money available for use by you and me; the vast bulk of what we normally call “money” is a deposit with a bank. Up to a limit (currently €100,000 in Europe), this is state-backed in the sense that the government guarantees that it will be available for spending no matter what happens with the bank. Even this is surprisingly recent. On the eve of the financial crisis, the pan-European limit was much lower and EU law explicitly prohibited deposit insurance schemes from being backed by the state (they had to be industry-funded schemes).

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