Top 5 blockchain stories of Q1
The winter of 2018 is behind us and spring has arrived. Readers of Blockchain Tech News weren't napping through Q1, though. They devoured stories on quantum computing, digital signage, role of blockchain in financial services and a KYC-AML use case.
In case you missed any of them, here's a countdown of the top five Blockchain Tech News features for January, February and March:
Blockchain is transforming many industries and has the potential to revolutionize the digital signage industry as well.
For the digital out-of-home industry, blockchain can provide a wide range of tools. For example, it can help create a more secure and stable trading platform, because of its immutable nature. It can also employ advanced techniques such as document registration and fingerprinting to assist with user verification.
It can also help provide decentralized content production and smarter advertising.
Over the last three years, more than CA$1 billion (US$773 million)has been invested in blockchain technologies. According to a report by Magister Advisors, blockchain investment will increase by another $1 billion in 2017.
This technology will likely impact a variety of services such as payments and clearance, capital markets, operations and currency.
The truth is that quantum computers not only exist, but they also are available commercially. Today anyone can easily access a quantum computer in the public cloud and do programming experiments, including the RSA cryptosystem-breaking Shor's algorithm — although no one has yet reached the full power to crack existing blockchain applications.
However, the day is coming when quantum computing will be able to crack bitcoin and other applications wide open, and companies need to prepare.
What do you need to create something like bitcoin?
Without trying to understand your personal motivation for creating a decentralized, anonymous system for exchanging money/information (but still hoping that it is in scope of moral and legal activities), let’s first break down the basic requirements for our new payment system ...
Among others, know your customer and anti-money laundering are potential blockchain use cases for blockchain technology.
Currently, institutions offering financial or professional services are obliged to follow time-consuming and expensive practices for each new customer. The adoption of blockchain technology could lead to the reduction of AML and KYC costs thanks to its cross-institution client verification capability, as well as its effectiveness in monitoring and analyzing data required for AML and KYC checks.
Bradley Cooper is a Technology Editor for DigitalSignageToday.com. His background is in information technology, advertising, and writing.www