16 Blockchain Disruptions (Infographic)

Blockchain technology is claimed to be according to blockchain proponents to be one of the most impactfull discoveries in the recent history. It is promised to have a massive potential to change how we handle online transactions. Despite some skeptics, the majority of experts agree that blockchain has the potential to disrupt the banking and financial industry, and many other ones! To put it simply, blockchain enables decentralized transactions across a P2P network. There are applications where those propertied can be very useful, but there are many cases where blockchain migh not be the best solution even though it is hyped to be solution for very many application (remember to ask Do you need a blockchain? often).

This 16 Blockchain Disruptions (Infographic) by bitfortune.net tries to help you understand how the blockchain technology can and will improve 16 different industries, from music to government.

Infographic by bitfortune.net

327 Comments

  1. Tomi Engdahl says:

    Financial Times:
    Crypto adoption is accelerating in the developing world, especially in regions with a history of financial instability, like sub-Saharan Africa and Asia Pacific
    https://t.co/RPPF6qQSKl

    Reply
  2. Tomi Engdahl says:

    Spend Bitcoin at Amazon? You already can (and elsewhere too)!
    https://www.youtube.com/watch?v=Y-xESmsXtUU

    There was a news article a few weeks ago which suggested that Amazon may be preparing to accept cryptocurrency payments. Newsflash, people: you already can!

    Reply
  3. Tomi Engdahl says:

    Mastercard to Acquire Blockchain Analytics Firm CipherTrace
    https://www.securityweek.com/mastercard-acquire-blockchain-analytics-firm-ciphertrace

    Payments giant Mastercard (NYSE: MA) announced Thursday that it has agreed to acquire cryptocurrency intelligence and blockchain analytics company CipherTrace for an undisclosed sum.

    Reply
  4. Tomi Engdahl says:

    Jamie Crawley / CoinDesk:
    Spain’s La Liga soccer league partners with French platform Sorare to offer NFTs of all its players, the first major European soccer league to do so

    La Liga Becomes First Top Soccer League to Offer NFTs of All Players
    https://www.coindesk.com/business/2021/09/09/la-liga-becomes-first-top-soccer-league-to-offer-nfts-of-all-players/

    Fans will be able to trade and play fantasy tournaments with NFTs representing players from the top 20 clubs in Spain.

    Spain’s La Liga has become the first of Europe’s top soccer leagues to offer non-fungible tokens (NFTs) of all its players.

    A partnership with French digital soccer collectibles platform Sorare will allow fans to trade and play fantasy tournaments with NFTs representing players from the 20 biggest clubs in Spain, including Barcelona, Real Madrid and Atlético Madrid.
    The collaboration is the first such deal Sorare has struck with one of the top European soccer leagues, according to an announcement Thursday.
    Sorare plans to strike similar deals with the top 20 leagues worldwide by the end of 2022.
    A number of the world’s elite individual teams already have NFTs on the platform, including Bayern Munich, Juventus and Liverpool.
    The platform’s game allows users to build a team made up of five players represented by NFTs, which they enter in various fantasy football tournaments to earn prizes based on the players’ real-life performances.
    Sorare was reportedly set to receive $532 million in funding in June, which would value the platform at over $3.8 billion.

    Reply
  5. Tomi Engdahl says:

    Matt Levine / Bloomberg:
    While SEC rules are hazy, Coinbase’s Lend product likely does constitute a security; to avoid SEC oversight, Coinbase would need to be regulated like a bank

    https://www.bloomberg.com/opinion/articles/2021-09-08/lending-bitcoins-is-tricky

    Reply
  6. Tomi Engdahl says:

    Tässä on omaa pohdintaani liittyen bitcoiniin. https://miljonaariksi25vuodessa.com/onko-bitcoin-kupla/

    Eli bitcoinin suhteellinen arvo laskee sen markkinaosuuden alentuessa parempiin kryptovaluuttoihin nähden, eikä se sovi luotettavaksi vaihdannan välineeksi suurten kurssivaihteluiden takia, ja sitä on helppo käyttää rikolliseen rahaliikenteeseen eikä sillä ole mitään pysyvää arvoa kuten kullalla.

    Reply
  7. Tomi Engdahl says:

    Kyllä. Markkina on muutautumassa aika pitkälti siihe suuntaan, että sijoitat lohkoketjuprojektiin kun ostat sen kryptoja.

    El Salvador on ottamassa bitcoinin vertaivaluutaksi käyttöön

    Sitten Etiopian valtion ottaa Cardano (ADA) lohkoketjun heidän koulutusjärjestelmän tueksi. Cardanon “louhinta” ei kuluta sähkö juurikaan, koska sen “louhinta” malli on Proof of Stake. Ei niin kuin bitcoinin Proof of Work.

    Afrikka on muutenkin todella hyvä alue lohkoketju teknologian laajenemiselle päivittäiseen käyttöön, koska siellä ei ole mahdollisuus pankkitiliin 20% väestöstä ja lohkoketju ratkaisisi tämän ongelman.

    Kryptojen perusajatushan on pankittomat ajat. Lohkoketju ja siihen tehdyt sovellukset korvaisi pankit.

    Reply
  8. Tomi Engdahl says:

    Cryptocurrency & Mining
    Chia Coin price crash forces miners to sell SSDs and HDDs at a loss
    Chia Coin cryptocurrency price crashes, miners start offloading their SSDs and HDDs — for well below what they paid for them.

    Read more: https://www.tweaktown.com/news/81500/chia-coin-price-crash-forces-miners-to-sell-ssds-and-hdds-at-loss/index.html

    Reply
  9. Tomi Engdahl says:

    This Toilet Turns Your Shit Into Shitcoins
    https://gizmodo.com/this-toilet-turns-your-shit-into-shitcoins-1847262332

    In 2021, joke cryptos seem to be in a never-ending turf war to see which one can be the most ridiculous. Aside from the classic DogeCoin, crypto-fans can now try to get rich off of CumCoin, PissCoin, ASS Tokens, and god knows what else. Now one South Korean professor is taking the trend one step further, with a cryptocurrency that actually pays you to poop. Yes, really.

    Scientist Invents Toilet That Turns Human Feces Into Cryptocurrency
    https://futurism.com/toilet-poop-green-energy/amp

    Reply
  10. Tomi Engdahl says:

    Even Garbage Is Using Blockchain Now
    https://www.bloomberg.com/news/articles/2021-03-18/even-garbage-is-using-blockchain-now

    Pilot projects that use innovative data collection to encourage recycling and responsible waste management are underway in Argentina, India and the U.S.

    Reply
  11. Tomi Engdahl says:

    Bloomberg:
    Sources: US officials are considering a Financial Stability Oversight Council review into whether Tether and other stablecoins threaten financial stability

    https://www.bloomberg.com/news/articles/2021-09-11/stablecoins-face-crackdown-as-u-s-discusses-risk-council-review

    Reply
  12. Tomi Engdahl says:

    ELON MUSK ADOPTS SHIBA INU, CAUSING CRYPTOCURRENCY MAYHEM
    https://futurism.com/the-byte/elon-musk-shiba-inu-cryptocurrency-mayhem

    DOGECOIN KNOCKOFFS NAMED AFTER THE DOG SOARED BY OVER 1000 PERCENT.

    Tesla and SpaceX CEO Elon Musk has officially adopted a furry companion friend named Floki — and, of course, the internet is aflame.

    But not just because Musk got a dog. Floki is a Shiba Inu, the face of the alternative cryptocurrency Dogecoin, Musk’s much beloved crypto.

    And, hands to our hearts, that’s one cute puppy.

    “I like him,” Dogecoin creator Billy Markus, who goes by the handle Shibetoshi Nakamoto, commented in a tweet.

    Reply
  13. Tomi Engdahl says:

    Solana Has Been Down for Hours Due to ‘Resource Exhaustion’
    Validators may have to restart the recently-rising blockchain network after it was overwhelmed by transactions.
    https://decrypt.co/80917/solana-down-for-hours-resource-exhaustion

    Reply
  14. Tomi Engdahl says:

    Dean Takahashi / VentureBeat:
    Sydney-based Immutable, which develops Ethereum-based tools to monetize NFTs in games, raises $60M

    https://venturebeat.com/2021/09/14/immutable-raises-60m-for-nft-games-platform-on-ethereum/

    Reply
  15. Tomi Engdahl says:

    “Ethereum markkina-arvo tätä kirjoitettaessa on 413 miljardia dollaria. Se on Bitcoinin jälkeen markkina-arvoltaan toiseksi suurin krypto. Vuosi sitten sen hinta oli noin 330 dollarissa, tällä hetkellä se treidaa noin 3 300 taalassa huolimatta rajusta (ja odottamattomasta) pudotuksesta viimeisen viikon aikana. Nousua vuoden aikana on silti tullut huimat 1 000 prosenttia.”

    Ethereum jatkaa nousemistaan?
    https://www.sijoitustieto.fi/sijoitusartikkelit/ethereum-jatkaa-nousemistaan

    Ethereum on Non-Fungible Token (NFT)-buumin myötä noussut uutisiin. Ethereum alustana tarjoaa tällä hetkellä monipuolisimman vaihtoehdon rakentaa tulevaisuuden internetiä, jossa arvoa voidaan vaihtaa aiempaa paremmin.

    Kävin aiemmassa artikkelissani läpi Ethereumin perusteita, mutta otetaan muistin virkistämiseksi lyhyt yhteenveto.

    Ethereum, kuten Bitcoin, on kryptovaluutta. Termi on kuitenkin hämäävä, sillä Bitcoin ja Ethereum eivät niiden yhteisöjen molemminpuolisesta nokittamisesta huolimatta kuitenkaan ole suoranaisia kilpailijoita. Siinä missä Bitcoin on “kova raha”, jota luodaan vain rajoitettu määrä, Ethereum on alusta jolle Web 3.0, eli tulevaisuuden internet, voidaan rakentaa.

    Ethereumin suoria kilpailijoita ovat muut smart contracts-alustat kuten Solana, Cardano, Polkadot ja Binance Smart.

    Bitcoin on varsin jäykkä, eikä sen protokolla juuri muutu. Ethereum on jatkuvassa muutoksessa kehittäjien muokatessa protokollan toimintaa entistä paremmaksi, sujuvammaksi ja halvemmaksi. Ether, ETH, on kryptovaluutta, jota Ethereum-verkko käyttää toimeksiantojen toteuttamiseen.

    Ethereum on lohkoketju, eli hakkeroimattomaksi suunniteltu tietokanta. Lohkoketjuun informaatio tallennettiin kronologisessa ketjussa, joka muodostuu lohkoista dataa. Jokainen ETH-kolikolla toteutettava transaktio tulee todentaa ja tallentaa lohkona ketjun uniikkiin lohkoketjuun. Tämän prosessin ansiosta lohkoketjua verrataan usein tilikirjaan.

    Ethereum-lohkoketjuun tallennetaan enemmän dataa kuin pelkät ETH-kolikoilla tehtävät transaktiot. Lohkoketjun älysopimukset mahdollistavat kehittäjien rakentavan dAppseja, eli hajautettuja sovelluksia kuten pelejä tai bisnessovelluksia. Ethereum-verkkoon voidaan mintata myös NFT:tä ja rakentaa DeFi-sovelluksia.

    Ethereum markkina-arvo tätä kirjoitettaessa on 413 miljardia dollaria. Se on Bitcoinin jälkeen markkina-arvoltaan toiseksi suurin krypto. Vuosi sitten sen hinta oli noin 330 dollarissa, tällä hetkellä se treidaa noin 3 300 taalassa

    Reply
  16. Tomi Engdahl says:

    Fake Walmart press release causes cryptocurrency price surge https://www.bitdefender.com/blog/hotforsecurity/fake-walmart-press-release-causes-cryptocurrency-price-surge/
    The cryptocurrency Litecoin soared in value earlier this week upon the news that supermarket giant Walmart would accept it as a form of payment at its retail stores across America. The only problem was…
    it simply wasn’t true.

    Reply
  17. Tomi Engdahl says:

    This Father-Son Hacker Duo Is Helping People Crack Into Their Lost Bitcoin Wallets
    It’s estimated that there’s about $140 billion USD in unclaimed Bitcoin.
    https://hypebeast.com/2021/9/bitcoin-wallet-hacker-chris-charlie-crypto-asset-recovery

    Reply
  18. Tomi Engdahl says:

    Yogita Khatri / The Block:
    As bitcoin falls to ~$43K, El Salvador’s President Nayib Bukele says the country “bought the dip” and acquired 150 more BTC, taking its total holding to 700

    El Salvador buys 150 more bitcoins, worth $6.8 million
    https://www.theblockcrypto.com/linked/118055/el-salvador-bitcoin-btc-buy-150-more

    El Salvador has purchased 150 more bitcoins (worth $6.8 million at current prices), President Nayib Bukele said on Twitter Monday, tweeting, “We just bought the dip.”

    El Salvador now holds a total of 700 bitcoins, worth about $32 million at current prices. One bitcoin is currently priced at around $45,600, according to TradingView.

    El Salvador legalized bitcoin on September 7, becoming the first country to do so. The Central American nation is also the first country in the world to hold bitcoin on its balance sheet and hold it in its reserves.

    El Salvador has taken several initiatives in recent weeks to grow the adoption of bitcoin in the country. It operates a wallet app called Chivo, which citizens can use to transact in bitcoin. El Salvador also brought bitcoin ATMs dubbed Chivo to several U.S. cities to make remittances easier and cheaper.

    Reply
  19. Tomi Engdahl says:

    The cryptocurrency has a hidden cost.

    One Bitcoin Transaction Produces Double The E-Waste Of Discarding An iPhone, Finds Study
    https://www.iflscience.com/technology/one-bitcoin-transaction-produces-double-the-ewaste-of-discarding-an-iphone-finds-study/

    Cryptocurrency has taken the digital world by storm, with over 1,000,000 individual users throwing their computer rigs – no matter how small or powerful – into mining Bitcoin, Ethereum, and more. However, a new report outlines the hidden cost of cryptocurrency transactions.

    A single transaction of Bitcoin produces 272 grams (9.59 ounces) of electronic waste, equal to the weight of two iPhones being thrown away – and when scaled up to the enormous number of transactions per year, Bitcoin now produces 30.7 metric kilotons of e-waste a year.

    Alongside the electricity used, mining generates e-waste. E-waste encompasses toxic chemicals leaching into soil and water systems, poor recycling of electronic hardware, and any other environmental impacts of discarded devices.

    At present, the researchers state the e-waste produced by Bitcoin rivals the amount made by the Netherlands, but even this huge number could be much worse.

    Reply
  20. Tomi Engdahl says:

    Tatum lets you interact with blockchains using API calls
    https://techcrunch.com/2021/09/21/tatum-lets-you-interact-with-blockchains-using-api-calls/?tpcc=ECFB2021

    Meet Tatum, a blockchain infrastructure startup that wants to make it much easier to develop your own blockchain-based product. The company operates a platform-as-a-service product so that you don’t have to manage your own nodes and learn how to interact with each client.

    https://tatum.io/

    Reply
  21. Tomi Engdahl says:

    China Officially Backs A CryptoCurrency And Establishes It As Their Official Coin
    https://priceponiter.com/digital-age/?fbclid=IwAR3uXtoBOyCC8WDwcx9H90uvD_6Y4magwJacykTXEuf-Tcki2E4H2grE2x0

    The government of China just informed that they have chosen a preferred firm for the purchase and marketing of their new coin – YuanPay Group. The sales of China’s coin officially started September 21 of 2021 and currently these coins can be bought only from YuanPay Group.

    In fact, China deputy minister of finances, Liu Kun, informed that their new official coin stating price is just CNY 0.12!

    https://yuanpaygroup.com/pages/fi.html

    Reply
  22. Tomi Engdahl says:

    China says all cryptocurrency-related transactions are illegal and must be banned
    https://techcrunch.com/2021/09/24/china-says-all-cryptocurrency-related-transactions-are-illegal/?tpcc=ECFB2021

    China’s central bank said on Friday that all cryptocurrency-related transactions are illegal in the country and they must be banned, citing concerns around national security and “safety of people’s assets.” The world’s most populated nation also said that foreign exchanges are banned from providing services to users in the country.

    In a joint statement, ten Chinese government agencies vowed to work closely to maintain a “high pressure” crackdown on trading of cryptocurrencies in the nation. The People’s Bank of China separately ordered internet, financial and payment companies from facilitating cryptocurrency trading on their platforms.

    The central bank said cryptocurrencies, including Bitcoin and Tether, cannot be circulated in the market as they are not fiat currency. The surge in usage of cryptocurrencies has disrupted “economic and financial order,” and prompted a proliferation of “money laundering, illegal fund-raising, fraud, pyramid schemes and other illegal and criminal activities,” it said.

    Reply
  23. Tomi Engdahl says:

    China rules all crypto transactions illegal, causing value of Bitcoin to fall
    https://www.dailymail.co.uk/news/article-10025677/China-rules-crypto-transactions-illegal-causing-value-Bitcoin-fall.html?ito=social-facebook

    The notice bans all related financial activities involving cryptocurrencies

    Bitcoin sank by as much as 8.9 per cent to $41,019 in European afternoon trading

    China said crypto had given rise to laundering, fraud and pyramid schemes

    Reply
  24. Tomi Engdahl says:

    Daily Crunch: Chinese regulators issue blanket ban on crypto trading, mining
    https://techcrunch.com/2021/09/24/daily-crunch-68/?tpcc=ECFB2021

    Reply
  25. Tomi Engdahl says:

    A hamster has been trading cryptocurrencies in a cage rigged to automatically buy and sell tokens since June — and it’s currently outperforming the S&P 500
    https://lm.facebook.com/l.php?u=https%3A%2F%2Fmarkets.businessinsider.com%2Fnews%2Fcurrencies%2Fhamster-trading-cryptocurrencies-rigged-cage-goxx-bitcoin-price-ether-doge-2021-9&h=AT2U-Zsb2JmwneR5S1U1Ces7TAFYwOcKOVgfVvt0gSAeSothMTLzXWlI_s3OXu5spWzFpiIMMj7Xqd2zoeLZE4W8eMW0lylrQS0PiTUpazKqa_57JbZ_UO50DpvaXl6VjjRRIyOXk6j-cXStbQ

    A hamster named Mr. Goxx has been trading cryptocurrencies in a rigged box since June.
    The hamster determines which crypto to buy or sell by running on a wheel and strolling through one of two tunnels.
    Since it started trading on June 12, Goxx’s crypto portfolio returned 24% as of Friday

    A hamster in Germany is redefining “A Random Walk Down Wall Street” author Burton Malkiel’s belief that a blindfolded monkey throwing darts at a stock ticker list in the newspaper could do just as good as a human investment professional.

    The livestreamed hamster, named Mr. Goxx, has been independently trading a portfolio of various cryptocurrencies since June 12, and so far its performance has been impressive. As of Friday, the portfolio was up nearly 24%, according to the @mrgoxx twitter feed that documents daily performance, along with every trade made by the hamster. Mr. Goxx’s performance outpaces bitcoin and the S&P 500 over the same time period.

    Mr. Goxx has so far generated profits of 77 euros as of Friday afternoon. Its portfolio hit a high of nearly $580 in mid-September, when its performance was up nearly 50% in less than three months, according to performance data compiled by Protos. But since then, the recent crypto sell-off put a dent into the hamster’s profits.

    Reply

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