Monthly Archives: December 2017

   Blockchain explained in plain English Understanding how blockchain works and identifying myths about its powers are the first steps to developing blockchain technologies. Blockchain is an algorithm and distributed data structure for managing electronic cash without a central administrator among people who know nothing about one another. Originally designed for the crypto-currency Bitcoin, the blockchain architecture was driven…

  If you are running a business with tight margins or a need to increase profits or raise funds for a worthy cause you need to ensure you keep overheads to a minimum and this can involve removing third party charges and delays from the system. Cut out the middleman so you can offer better value to your customers or…

    Awesome payment experience at the table. All the coupons, loyaty benefits, gift donation, and payment with tip all in one. Payment 3.0 Platform, World First User Centric Smart Integrated Payment Service, Gold Medal, Best Technology, Payment Innovation Projects 2013 at Harvard University. Best Security – Credentials(Financial Info, PIN etc) are not passed to Merchants. Credentials are not Stored…

 Whispers of History from wack on Vimeo. Railcoin exists partly to raise funds for heritage railways to reinstate abandoned railways. This one in Leeds  symbolises many other railways. which crisscrossed the UK opening up areas which included beautiful scenery to travelers. This is the view from atop a forgotten railway viaduct which is some 1500 yards long and leaps…

Understanding how blockchain works and identifying myths about its powers are the first steps to developing blockchain technologies. Blockchain is an algorithm and distributed data structure for managing electronic cash without a central administrator among people who know nothing about one another. Originally designed for the crypto-currency Bitcoin, the blockchain architecture was driven by a radical rejection of at (government-guaranteed) money and bank-controlled payments. Blockchain is a special instance of Distributed Ledger Technologies (DLTs), almost all of which have emerged in Bitcoin’s wake. HOW DOES BLOCKCHAIN WORK? Blockchain is a Distributed Ledger Technology (DLT) that was invented to support the Bitcoin cryptocurrency. Bitcoin was motivated by an extreme rejection of government-guaranteed money and bank-controlled payments. The developer of Bitcoin, Satoshi Nakamoto envisioned people spending money without friction, intermediaries, regulation or the need to know or trust other parties. Technically, the original blockchain is separable from Bitcoin, but this report will show that the blockchain design is so specific to Bitcoin that it’s not a good fit for much else. The central problem in electronic cash is Double Spend. Because pure electronic money is just data, nothing stops a currency holder from trying to spend it twice. Blockchain solves the Double Spend problem without a digital reserve fund or similar form of umpire. Blockchain monitors and verifies Bitcoin transactions by calling upon a decentralized network of volunteer-run nodes to, in effect, vote on the order in which transactions occur. The network’s algorithm ensures that each transaction is unique. Video created by the Centre of International Governance Innovation.

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