Many big companies like IBM, Microsoft, and Coca-Cola have announced interesting blockchain projects using this decentralized ledger technology. So now, both large companies and individuals alike are inspired by blockchain technology. Novice developers are intrigued by how this new technology will further their life’s passions while companies attempt to fill the voids and flaws of their current centralized systems.
Blockchain is a sophisticated, transparent, and secure way of sharing and storing information on transactions. Companies want to solve many issues in today’s market such as data privacy, transaction costs, and efficiencies.
For instance, Lufthansa, with help from German software company SAP, is hosting a Global Blockchain Challenge for the Aviation Industry. The successful start-up advertising company, Pinmo, is working on a blockchain-based project to improve its precise ad campaign analytics and back the system with its own cryptocurrency, the Pinmo Token.
Coca-Cola and the U.S. State Department: Fighting Forced Labor
Coca-Cola wishes to improve by using blockchain to create a registry to help enforce their workers contracts. The beverage giant and the U.S. State Department, with help of Emercoin and Bitfury Group, are building a blockchain-based registry to ensure that foreign employers respect all the terms of their employees contracts.
They will also report child labour, forced labour, and land rights from 28 country-level studies. The U.S. States Department will bring its labour data to the project as well. They hope to fight the use of forced labour worldwide.
Lufthansa and SAP: Global Blockchain Challenge for the Aviation Industry
Lufthansa announced its Global Blockchain Challenge for the Aviation Industry. The challenge seeks to explore potential opportunities and drive adoption of Blockchain technology in the airline industry. The challenge is divided into 3 categories: Airline, Traveler, and the Supplier Challenge.
- Airline Challenge hopes to eliminate errors and improve accuracy in airline operations through ease of data sharing across department and organization lines.
- Traveller Сhallenge is for solutions that improve the passenger experience by making it more efficient and comfortable.
- Supplier Challenge seeks to promote ideas that enhance transparency of supply chains and maintenance, essential for safe and reliable operations.
Pinmo – The Future of Advertising
Pinmo developed a successful advertising platform in 2017 using traditional fiat currency. They experienced great success with their use of extremely precise ad campaign analytics. IBM’s Watson AI supercomputer was used as a back-end management tool for client’s social ad campaign tracking.
Pinmo’s next step is to combine its already proven business model with blockchain technology to develop a dApp (decentralized application). This dApp will boost ad campaign security and data transparency. Also, Pinmo will handle advertiser payments through its own cryptocurrency, the Pinmo Token.
Google’s Uses Blockchain Project To Protect Users’ Private Data
It may come to some as a surprise that Google would even consider developing a blockchain application. Its nearly 1 trillion dollar empire was built on its centralized cloud infrastructure and it retains exclusive access to a googolplex of user data.
Privacy scandals plague tech companies. It’s not a good time to be a cloud company. Concerns over Facebook privacy scandal has cast doubt over the way centralized businesses protect, store, and use their users’ data. Google has also faced privacy issues. Blockchain, however, replaces centralized authorities with distributed ledgers that transfer the ownership of data to the users themselves.
The mere step of looking into blockchain technology indicates that Google is taking steps toward giving its users more control over the use of their data. However, Google hasn’t announced specifics on how it will use blockchain, but it is researching potential uses.
GoBlock!: 4,500 Year Old Chinese Board Game Joins Blockchain
Speaking of Google, back in 2016 Google’s AI, the AlphaGo, defeated the world champion Lee Sodol in a 4,500-year-old Chinese board game Go. Sedol is now working on a blockchain version of his favourite game in association with The Blockchain Inc.
The project is called GoBlock and is being developed by South Korean blockchain company, The Blockchain, Inc. Its main aim is to improve the eSports system by allowing them to compete in a global professional league. Sedol spoke about creating a rewards system from which players, league supporters, viewers, and advertisers may benefit. The platform will welcome both amateur and professional players and provide training for beginners.
“I was drawn to the blockchain technology due to decentralization and transparency features. If blockchain technology and the token economy are applied to Go game, it will be able to expand the game’s ecosystem and bring about unforeseen changes to the game’s ecosystem.”
GoBlock will be built on the Ethereum network. As part of the reward system, tokens will be issued to support match records, leagues, and game players.
IBM: Leading the Blockchain Pack
Tech giant IBM revealed in an investor briefing that it now has blockchain clients like VISA, HSBC, and Walmart. IBM’s CFO Jim Kavanaugh explains:
“For us, blockchain is a set of technologies that allow our clients to simplify complex, end-to-end processes in a way that couldn’t have been done before.”
IBM announced that 63 companies have adopted its blockchain technology. Their business blockchain is built on its native open-source blockchain platform Hyperledger. It will further protects data by using “permissioned networks” which allows some information to be sealed with a password. Most people generalize that blockchain adoption is only attractive to startup companies, however, IBM’s client list demonstrates how established companies are also interested in blockchain technology.
The Future is Bright for Blockchain
In this brief glimpse at the future of blockchain, we’ve seen a wide variety of companies around the globe, from the world’s largest companies to gaming champions, embrace the potential of this exciting technology.
Blockchain projects are changing the way we interact and do business. Google is looking into blockchain to improve data security. IBM is focused on providing solutions for clients by utilizing blockchain technology, while Lufthansa is using blockchain technology to improve the entire aviation industry.
It will be interesting to see how blockchain changes the world as we know it in a relatively short period of time.