An insightful and coherent session on the many varied uses of Blockchain was presented by Shamit Bhat, Interoperability Solutions Director at GSMA at the IET London – Harrow event held at Harrow College.
He explained how chains are made and how they interact to create blocks – It is the combination of how the blocks are used by different nodes in a given network that highlights the benefits of Blockchain technology with respect to confidentially, integrity and availability.
He also explained the concepts of alternative crypto currencies and how if there is enough buzz/traction mixed with market capitlisation of the coin, the market is likely to respond in kind :) He then spoke about the efficiencies of self executing contracts and how they can reduce transaction times down to seconds.
Speaking with Shamit, I asked him how A.I might make Blockchain ready of Industry 4.0 and we then discussed the benefits of Blockchain systems as it can increase the barriers to entry for an opportunistic hack attempt. Thoughts on Blockchain was covered in the Nov 2017 Cyber Lens blog here, however since then, as Shamit explained, Blockchain has moved into alt-coins and is now laying the foundations on how basic transactions take place across most industries - One step closer to Industry 4.0.
See the IET post on Blockchain Technology here.
He also explained the concepts of alternative crypto currencies and how if there is enough buzz/traction mixed with market capitlisation of the coin, the market is likely to respond in kind :) He then spoke about the efficiencies of self executing contracts and how they can reduce transaction times down to seconds.
Speaking with Shamit, I asked him how A.I might make Blockchain ready of Industry 4.0 and we then discussed the benefits of Blockchain systems as it can increase the barriers to entry for an opportunistic hack attempt. Thoughts on Blockchain was covered in the Nov 2017 Cyber Lens blog here, however since then, as Shamit explained, Blockchain has moved into alt-coins and is now laying the foundations on how basic transactions take place across most industries - One step closer to Industry 4.0.
See the IET post on Blockchain Technology here.