Blockchain for Business

15Advance Concepts of Blockchain

Raj Kumar

Manav Rachna International Institute of Research & Studies, Faridabad, India

Abstract

The blockchain technology is going to revolutionize the world in the near future. It will become a household name in times to come. The blockchain technology can be used for wide range of services such as making secure online transactions, creating digital identifications, improving efficiency of supply chain, and can be used to create data backup which can’t be mutated. It can be utilized by hospitals for maintaining patient records. The blockchain technology provides much needed privacy for patient data. The crime control agencies can use blockchain technology for tracking ownership of weapons. The future applications of blockchain technology are numerous and it is very difficult to explain it in a single chapter. However, the topics such as community supercomputing, blockchain geonomics, blockchain learning, community coin, monetary and non-monetary currencies, some prominent alternate coins, demurrage currencies have been discussed in detail.

Keywords: Blockchain, bitcoin, supercomputing, genomics, non-monetary currencies

15.1 Community Supercomputing

Community supercomputing is a novel concept and blockchain is the underlying technology which helps to make it possible. The world population is 7.8 billion plus and the number of connected devices is 22 billion plus worldwide. This number is bound to grow exponentially with the rise of new technology ...