blockchain and new workplaces

Blockchain and new workplaces

Technological revolution may lead to the automation of certain processes and the reduction of workplaces. However, there is nothing to worry about – new ones will come in their place and maybe it will give a possibility to create completely new professions. The market functions to implement new technologies and is useful for project managers and sales specialists. Check out the future of blockchain and new workplaces.

Usefulness of blockchain

Blockchain is useful to store and transmit information about transactions concluded on the Internet. Each block in the transaction contains a certain number of data. When it fills up – another block creates, etc. Blockchain is a kind of modern accounting ledger created in peer-to-peer technology, excluding central computers and management systems. Each user has access to all transactions. Blockchain is useful in trading, shares, currencies, in the field of electricity, while tracking the supply chain and determining credit history.

Blockchains are very secure and transactions written in there are irreversible. To break a block, you need computing power equal to half of the devices with Internet access. Blockchains are also resistant to forgery.

Blockchain and new workplaces
Source: https://execfurnrent.com/modernizing-your-workplace/

Blockchain and new workplaces

In the blockchain field, work waits mainly for programmers – blockchain developers and engineers. The most important abilities work with decentralized applications, new libraries and providing them with adequate security in a database that will gather information for eternity.

Remember that there is no place for error in the blockchain. If you make a mistake – the application will not be usable, therefore, tests are an extremely important part of creating. In the case of blockchain, data migration is complicated. You cannot modify, overwrite or update them – just change to new ones is possible. The information spread all over the network and cannot move to another location.

The future of the blockchain technology

Blockchain technology is the industry of the future. It can bring many benefits both for employees and those involved in its development, but also for the whole world, for example, the poorest countries in the field of humanitarian aid. It is worth to give an opportunity for new solutions.

Blockchain is a topic of interest to the academic community. You can sign up for cryptocurrency courses at e.g. Stanford University or the Massachusetts Institute of Technology. Similar classes will appear in the offer of the University of Edinburgh soon. You can also sign up for the blockchain course in the capital of Poland – in Warsaw.

To implement blockchain technology get the right programming skills at first (JavaScript, Java, C ++, C #, NodeJS). Develop your skills interests in new technologies, participate in courses and meet-ups. However, you will find real experience during internships in specialist companies that know the structure and operation of blockchains from the inside out.

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Blockchain technology in government

Blockchain technology is a tool created i.e. to improve government services and transparency of the relationship between government and citizens. Distributed technology can optimize business processes by increasing efficiency and security when sharing data.

Blockchain technology in government
Blockchain in government. Source: https://gcn.com/articles/2016/03/22/blockchain-government.aspx

Blockchain technology in government

Blockchain appears also in the public sector. Distributed technology improves the level of service provision, eliminates bureaucracy, minimizes waste and prevents tax fraud. Digital transactions can affect changes in financial transactions between citizens and the government.

The public sector has become a symbol of corruption and bureaucracy, lack of trust in terms of solving problems and providing services. Blockchain makes that trust regarding regulation and leveling of multistage and expensive processes growth.

The advantages of blockchain technology

Blockchain technology has found applications in many fields. It is irreplaceable in health care brunch, social security issues, document management, and storage. Therefore, governments in different countries can improve operations and reduce their costs. They will increase trust in governments introducing modern, decentralized and autonomous infrastructure.

The problems with the functioning of the government

The centralized system and functions fulfilled by its principles gave governments a terrible reputation. People flee from any contacts with offices, which are still associated with huge, few hours long queues and inefficiency. If the only way out of fraud is bureaucracy, simple tasks extend repeatedly.

The main problem in the government is the lack of operations transparency. Any information about the activities that the state takes is difficult to obtain. The community does not know anything about expenses tax money, and additionally, updates on this subject delays.

It is extremely irritating that the government collect and store large amounts of information about taxpayers which violates the privacy of citizens. Even mobile phones are surveillance tools. A new information gathering system could provide an appropriate way of collecting information necessary to maintain relative national security.

It is equally problematic in most countries to submit applications, for example regarding benefits. Documents have to be provided several months in advance before the consideration. Many-stage verification and auditing process, unfortunately, take a lot of time, costs a lot of money and is very time-consuming.

What improvements does blockchain bring?

Changes in the governments’ action system could certainly reduce the level of corruption, tax evasion, and data falsification. It is incredibly problematic in developing countries. However, frauds concern not only the government side but also citizens who, for example, evade paying taxes.

Work in the public sector is extremely expensive and long-lasting. Documents verification is a multi-stage and long-lasting process. Shortening at least some of the processes using blockchain technology would bring substantial financial profits and limit their duration.

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A hard fork is upcoming! Check this out!

The hard fork is upcoming! In connection to blockchain technology, a hard fork is a change in the protocol which influences on transactions and blocks. It requires users and nodes to update the newest version of the software’s protocol.

The hard fork is upcoming! – how does it work?

Put another way, it is is a new section of a blockchain version. The previous nodes’ release will be no longer valid. It creates some kind of fork in the blockchain. One of two paths follows the new blockchain, the second – along the old one. 

what-is-a-hard-fork
Source: https://blockgeeks.com/guides/ethereum-constantinople-hard-fork/

This activity involves splitting the path of a blockchain by invalidating transactions confirmed by nodes that have not been upgraded to the new version of the protocol software. Users of the old blockchain quickly realize that its version is outdated and needs an update. Moreover, it allows reducing security threats in older versions of the software to develop functionality and rollback transactions.

Differences between a hard fork and soft fork

Obviously, a hard fork and a soft fork are a very similar process in which cryptocurrency code changes. In the case of the soft fork, only one blockchain is valid when users accept the changes while a hard fork relates with two blockchains. All users and programmers decide to carry out a hard fork for security reasons, although soft fork could also do the job. Furthermore, a hard fork associates with the release of high computing power – it is much safer than a soft fork.

We are so happy that the hard fork is upcoming soon!

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blockchain in know your customer technology

Blockchain in Know Your Customer technology

Blockchain is an excellent tool to protect information on the Internet – it allows to store them in open databases in the cloud, while providing guarantees of authenticity and security. It is also possible solution to the “Know Your Client” – known as “KYC” procedure. In this article you will look how blockchain in Know Your Customer technology may change clients, business and government. Continue reading

blockchain in insurance industry

Blockchain in insurance industry. Is it possible to make it better?

The insurance industry, despite paying huge premiums, experience big problems with high financial losses. Poor data quality, low efficiency of business processes and multitude of scams are one of the biggest difficulties. Access to blockchain technology will help to eliminate some of problems and slightly modernize the industry. How? Through decentralization, transparency and increase of security, reducing transaction costs and time of its duration. Continue reading

blockchain in agriculture

Advantages of blockchain in agriculture

One of the largest and, unfortunately, most inefficient branches of the world economy is agriculture. Long supply chains, old accounting system and bureaucracy are just some of the problems that affect the industry. Blockchain in agriculture is one of the solutions for unfavorable situation. Continue reading

Future of cryptocurrencies and blockchain

Future of cryptos and blockchain technology

The financial future will certainly be dominated by blockchain technology. An efficient infrastructure of cryptocurrencies will contribute to cost reduction for market participants. Furthermore, it will revolutionize global banking. It will increase efficiency of operations by simplifying settlement of transactions with help of scattered accounting books. Continue reading

Save your retirement capital in cryptocurrency!

Unfortunately, few young people who has just started their professional career or have been working for several years think about the distant future. However, it is worth considering a little earlier to save money for retirement. Pension systems in most countries helps to save money for the future, but they do not fully fulfill its function. To improve the quality of your life at later date, it is good to save on your own account. One of the ideas for an effective investment is retirement capital in cryptocurrency and blockchain technology. Continue reading

mining

Advantages of blockchain in finance

Blockchain technology develops very fast. Although new solutions arouse reluctance and lack of trust very often, it is worth to take a look at the next raised actions and see all benefits of using them. Check out what advantages brings blockchain in finance! Continue reading

Cryptocurrency and blockchain development

Blockchain development has an increasing impact on industrial progress. More and more people notice the possibilities that it brings. Blockchain is not just a decentralized system or a secure register. It also means secure user identification, secure storage and intelligent contracts. This technology, through saving specific resources, has contributed to the development of companies and global GDP growth. Continue reading