Blockchain is a revolutionary new technology which we have been on the forefront of since 2017 and have worked with many Blockchain startups either directly as a development partner or at C-suite level.
What have JPMorganChase, Ford, Coral Health, Disney, VISA, WFP and Columbia Records all got in common ? The are already implementing and taking advantage of distributed technologies already, not to mention that the International Monetary Fund, the World Bank have both launched a private blockchain complete with cryptocurrency called “Learning Coin” and not to forget Leading French bank, Societe Generale, issued the first covered bond worth €100 million as a security token on the Ethereum blockchain.
Blockchain is certainly not a silver bullet solution but with our expertise we can advise you if it suits your use case or if a more traditional database might be better.
Some interesting legitimate use cases of on chain solutions are the following list we put together below.
The indelible nature of distributed ledger technology makes it the perfect backend data store within the supply chain and logistics sector providing maximum accountability.
We can design and build a system where a Pineapple farmer in Ecuador will package up his consignment and scan its barcode which creates a record (on-chain), the crate will arrive at Fyffes European distribution center in Dundalk, Ireland where they will once again scan it and then it will arrive in Prague, Czech Republic where it will be scanned again and then it will be freighted 2 hours away to Mariánské Lázně distribution center, scanned and then distributed once again to each supermarket in the town.
This is a basic example of a Blockchain powered supply chain and the fantastic thing about this is that nobody can deny nor delete any of these records, we have an iron clan and totally undisputed timeline based on each point within a global supply chain.
And we are your one stop shop, we can build your private blockchain, the handheld scanning devices and provide implementation support with regard to the network.
Remittance and International Transfers
Your bank operates Monday to Friday during business hours, if you transfer large amounts of money you will usually have to answer questions as well as pay exorbitant fees and waiting times etc. To paraphrase Gordon Geckos famous line “Money Never Sleeps” and this is truly the case with distributed P2P Blockchain networks.
Transactions can be carried out instantaneously and, depending on network congestion, for minimal cost.
So long as you have your private key you have full control over your assets, here, there or anywhere in the world.
One of the most interesting use cases of DLT is identity management in crisis zones where most of the populations records have been wiped due to either analog centralised storage or incomplete digitalisation – creating a federated layered network for storing and accessing data can be of high value especially if a country is already engulfed in a conflict or rebellion against a wayward nation state.
There has already been examples of its use case where as well as having an autonomous federated network that will be able to store displaced persons data, you can also pay them directly on the same network giving them a sense of self worth or indeed children in rural areas who are without any official identity an onchain id can be provided making it more difficult for trafficking.
This all may sound like science fiction but it is in fact already moving at a very fast pace, the World Food Program has already built a similar solution with the apt name “Building Blocks” as well as integrated Biometrics so that when a refugee scans their retina they can be identified.
This is an area we are especially interested in. We have built a PoC using a private blockchain and some internally developed hardware comprising of a Raspberry pi with a custom built RFID reader designed specifically for FDX-B (ISO 11784/11785) animals implants.
This crude system allows us to carry our further research and development in this truly innovative area which we are now seeking a partner who wishes to further advance and implement it.
It is literally possible to tokenise anything. You have a house which needs to trade hands, you have an extremely rare picasso painting, you have a non tangible collectable card of a cat – all of these things can be tokenised and give a store of value on a blockchain.
Blockchain is exceptionally well suited to the e-gaming world. We have discussed all kinds of implementations within the e-gaming sector, whether it be crypto kitties, buying a new in-game car using a token or a poker tournament there is one thing in common and that is that people like the pseudo anonymous nature of being able to cash out with a digital currency or indeed perhaps your game is built using tokenised assets like the well known crypto kitties.
Leaving the last and most obvious until last because after all anyone can create a crypto currency or ERC standard token, but it is worth nothing unless someone attaches some value to that be it a Utility token to carry out operations on a network, a Security token with a store of value attached to it or of course the main Cryptos like Bitcoin, Monero, Ethereum.
Infrastructure and Wallets
We have banded around words like private keys, distributed Public Private Federated networks but with little explaination of who builds them.
We have extensive experience with building and architecting decentralised autonomous networks as well as the digitial wallets used for storing and accessing your assets.
We also have experience in building custom built hardware solutions either scanners, card/RFID readers and even point of sale crypto currency terminals for brick and mortar stores.