Top 5 Pain Points of Companies and How Blockchain Can Solve Them

Top 5 Pain Points of Companies and How Blockchain Can Solve Them

In this article, we’re going to explore the challenges of managing Enterprise IT infrastructure,

how blockchain helps Enterprise IT infrastructure, and unique challenges of integrating blockchain technology into your organization.Technology is constantly changing the way companies do business. Some technologies, ‘game-changing’ ones, actually go further than that and change the way companies are constructed and built. The competitiveness of a company these days is a direct function of its technological adoption and prowess.

However, it’s very challenging to manage new implementations of technology in a cost-effective way. IT solutions implemented incorrectly might be needlessly complex, and might be too transformative, requiring substantial retraining of employees in the organization. By harnessing technology appropriately, your organization can gain a competitive advantage – but you do need a roadmap to prevent you from becoming lost in the jungle of solutions. Blockchain technologies are currently becoming a hot topic for organizations, and I’d like to help provide this blockchain roadmap for companies out there.

5 Common Pain Points Companies Face

Trust Is Expensive Which Makes Collaboration Hard

There are obvious benefits when two organizations collaborate effectively. Many organizations form consortiums to leverage mutually beneficial ways to collaborate. Naturally, the challenge always comes down to trust. Organizations are run by groups of people, and groups of people don’t trust each other readily. Companies – even the ones who are in decade-long partnerships – may have competing interests and differing agendas. Who owns the servers that the shared system uses? Who has access to the cloud account that runs the apps? What happens when one organization wants to leave the consortium? How are decisions made between separate entities?

Data Jealousy Leads to Less Valuable Data

In 2017, the Economist proclaimed that data is more valuable than oil. Ginny Rometty of IBM declared it a ‘natural resource.’ The biggest and most powerful companies on our planet (Google, Facebook, Amazon, Apple, etc.) own the most data. Unfortunately, this mindset has led some companies into the rabbit hole of ‘data jealousy.’ This is the practice of refusing to share data, even with partnering companies. Big Data is only valuable if it’s big enough, and most companies only own data from “their point of view.” They struggle to leverage their data effectively because they only have access to the limited dataset they produce.

This is, of course, another systems issue. Companies that try to share data with each other on regular centralized systems come directly face to face with the questions: Who owns the actual data? Who can access the data and how frequently? How can I be sure that no one in my partner company tampered with the data? How can I be sure that my own data is accessed on a ‘need to know’ basis? The inability to answer these questions has led to investments in big data and analytics that do not show an ROI to an organization.

Reliance on Physical Documents Makes Audits Slow and Expensive

Most companies today still heavily rely on physical documents to ensure their business runs smoothly. This causes all kinds of headaches, especially during audits. It’s easy to digitize the documents. The challenge is keeping sensitive digital information secure. Since digital documents are easy to tamper with, they often cannot be relied upon for audits. This makes the audit process tedious and costly. During an audit, each division has competing interests with other divisions. Every division wants to pass the audit, even if it means another division fails. This is why we can’t use centralized systems’ digital documents as a basis for audit – they can be tampered with, and even server logs can be tampered by the IT division.

Automation Between Separate Companies Is Hard to Execute Fairly

While many companies seek to automate their operations, the challenge becomes ensuring that automation between companies is completed in a fair manner. For example, if two companies are partnering and have a business process automation solution in place to manage their collaboration, which company gets to own the server that runs the solution? No matter how well designed the centralized system is, the company that owns the server will have more control over the initiative. Even if you have a system that is really well-programmed, a server owner can still – literally – pull the plug on the automation.

Disaster Recovery and High Availability Systems Get Really Complicated and Pricey

Here’s how you create an Enterprise system these days: Maintain production uptime by adding a High Availability (HA) server. Maintain a failover system between Prod and HA. To ensure disaster preparedness, find another data center far away and put a server in there to act as a DRC. In case of further paranoia, get the DRC site an HA server as well. What about ‘putting it on the cloud’? Behind every cloud, there are computers too. Enterprise infrastructure is very familiar with declarations of ‘down for maintenance’ from every brand-name cloud. So you still set up DRCs or HA servers that interlink multiple cloud infras, just to make sure the business does not lose money from the downtime.

Companies today must maintain high availability of their IT systems. They must also ensure proper disaster recovery processes are in place. Unfortunately, these tools are continuing to rise in cost, which makes it hard for companies to stay profitable. Although technologies have become cheaper, customer expectations have become sky-high for constant access to apps and services, and are continuously increasing. This creates more demand for high-availability and DRC – not less. Even as companies shift towards cloud services, these enterprise data services can still become cost-prohibitive. Lower margin businesses are going to be priced out first.

How Blockchain Technology Helps Enterprise IT

Blockchain Enables Trusted Partnerships

The biggest challenge when creating systems of collaboration in a business consortium or partnership revolves around ensuring fairness between the parties. A blockchain can be used to ensure that each partner in the collaboration has control of the system – since each partner has a node of their own. If one partner tries to change the data in his or her node, the other nodes will immediately ostracize that node and ‘heal’ the data. Rather than having every partner put absolute trust to the company that runs the system, each partner can be secure in the understanding that its partners cannot tamper with decisions, data, or control.

Blockchains Enable Smaller Companies to Benefit From Big Data

Instead of small companies being stuck with their small silos of data, they can combine their data with other companies through the use of a blockchain, while maintaining the sovereignty of their data and their customers’ data. This enables more companies to access big data analytics instead of only the largest companies benefiting.

Blockchain Eliminates the Need For Physical Documents

Currently, it’s really hard to keep digital documents secure and safe. This forces many companies to keep paper records which are notoriously clumsy to work with. Imagine how much time is wasted trying to reconcile data across piles of paper? Time wasted is money wasted. Thankfully blockchains increase the ability to keep digital documents secure, which reduces the need to maintain physical paper documents for audit purposes or otherwise. This enables companies who leverage blockchains can reduce the time and money required to complete audits which will save money.

Blockchain Enables Business Process Automation With Smart Contracts

One of the most powerful concepts that blockchains enable is the use of smart contracts. Smart contracts are software contracts that execute predefined logic based on the parameters coded into the system. In other words, you can replace many business processes with software. For example, instead of hiring a team to handle contracts and procurement, you could run smart contracts that enforce the same procedures more effectively at a lower cost.

Some blockchain technologies (e.g., Nxt) use ‘smart transactions’ instead of smart contracts. Unlike smart contracts, which embed code inside the blockchain every time, smart transactions put the code inside the node that runs it, while referring to and using process templates inside the blockchain. This is less prone to coding errors and allows easier future tweaking of the code in Enterprise environments.

Other blockchains use different ways to ensure this type of flexibility, which is important since business processes in Enterprise environments constantly change. You need to be able to revise code you’ve deployed, in an agile fashion, quickly. This same concept can be more broadly applied to any business function that relies on multiparty business logic. Here’s a cheat code: Automation between parties enables better business SLAs, and blockchain enables automation between parties.

Blockchain Can Improve Data and Infrastructure Resilience

Traditional network architectures are heavily reliant on high availability & DRC servers to make sure the network data stays in sync. If there is a disaster scenario where one node is compromised, then the network is reliant on the backup server. This architecture is vulnerable to being compromised, whether by attacks, exploits, mismanagement, or disaster situations. In an equivalent blockchain architecture, there are two key advantages: data resilience and infrastructure resilience.

Data resilience is gained from the increase in total nodes on the network. Each node enforces consensus rules and prevents attackers from spreading false information. Infrastructure resilience is gained because each node can act as a backup server in case some nodes are taken down or compromised. This is a huge improvement over traditional infrastructure where the network might only rely on a single backup server. Lastly, the more nodes in a blockchain network, the more resilient the system is, whereas the opposite is true with traditional IT architecture.

Challenges When Implementing Blockchain Technology

While blockchains have the potential to improve the IT infrastructure of your organization, getting them integrating into your current systems requires some effort. Here are a few challenges to overcome when implementing a blockchain inside your organization.

Getting Buy-in From Upper Management

In order for any strategic initiative to be successful, the project leaders need to get support from management. Hiring a top tier blockchain consulting firm helps convince upper management that blockchain is worthy of company resources.

Ensuring Your Staff is Capable Of Supporting Blockchain

Whenever you’re considering adding new technology into your organization, it’s critical to consider your current staff. How advanced is your current IT staff? Do they have the time and ability to get skilled up?

Choosing the Right Blockchain For Your Needs

Not all blockchain projects are created equally, and each blockchain implementation makes necessary tradeoffs to maximize the intended use case. Be sure to define your needs upfront and ensure the correct blockchain is matched to your needs. Starting with a pilot project makes sense for many organizations.

Architecting the Right Solution Is Challenging

In order to maximize the chance of a successful implementation, it’s crucial that your organization gets the high-level architecture right. The best tool in the world is only effective if it’s used properly. If you don’t have expertise in house, consider hiring a consulting firm to guide the solution architecture.

What Should Be On-chain? What Should Stay Off-chain?

Blockchain technologies are incredible tools, but that doesn’t mean we should try to run our entire business on a blockchain. In fact, there are many use cases where a distributed ledger doesn’t make sense. Spend time upfront planning before moving into the implementation phase. It’s better to start small than trying to bite off more than you can chew.

Let’s Wrap Up

Blockchains are incredible tools, but they need to be approached with care. In order to maximize their benefit, consider hiring a reputable consulting firm to see if blockchain can help your business, and starting with a pilot project. As your team gets more comfortable with the technology, you can continue to build your footprint, letting the technology grow in value as you collaborate more.

Article Produced By
Ms. Pandu Sastrowardoyo

Ms. Pandu Sastrowardoyo is a Co-Founder of Blockchain Zoo, Supervisory Board Member of Asosiasi Blockchain Indonesia, Senior Partner of Blocksphere, Co-Founder of and, Former IBM ASEAN Senior Consultant & Territory General Manager of MSPs. Listed among 100 global blockchain leaders.

iCoin Takes Diamond Mining to Blockchain Launches IEO

iCoin Takes Diamond Mining to Blockchain, Launches IEO


A Bitcoin Press Release:

Blockchain-based platform iCoin International is aiming to disrupt the diamond mining industry using decentralized technology fused with artificial intelligence announces the launch of its initial exchange offering for early backers.


6th of August 2019, Sierra Leone:iCoin International is owned by Millennium Mining Corporation, and opts to leverage the power of blockchain and artificial intelligence to deliver efficiency, speed, and transparency to the precious gem industry. It has announced the launch of its initial exchange offering (IEO) in collaboration with LATOKEN to provide an opportunity to early backers to support the development and growth of the platform.

Decentralized Diamonds

Diamonds are one of the most sought after precious gems and have great value in both the industrial and social sectors. Their use in the production of aesthetic jewelries as well as their well-known physical property as one of the hardest naturally occurring material makes them truly invaluable. However, the lack of a proper monitoring infrastructure has led to the lack of transparent and effective mining and distribution operations of diamonds, and onerous government policies have only made the illegal distribution more prevalent.

iCoin will tokenize the diamond mining industry, and introduce a well-organized real-time monitoring and auditing system into the precious stone industry using emerging technologies such as the blockchain and artificial intelligence. This will enable the platform to create a holistic business environment for diamonds to thrive and create a whole new economy out of diamonds. The platform aims to achieve the following with the incorporation of blockchain technology into the diamond mining business:

  • To build a trustless network without a chance of corruption or duplication of data.
  • Provide a system with automatic and instant transactions through the use of a smart contract.
  • Enable transparency for all financial transactions through an open and distributed ledger.
  • Each diamond extraction will be time-stamped on the blockchain, giving complete traceability on the ledger throughout the supply chain.

 Unique Selling Point

Millennium Mining Corporation is located in Freetown, Sierra Leone — a country famous for its diamond operations and has a large diamond industry with about 2,500 small-scale operations. In 2018, the country exported over USD 150 million worth of diamonds. Millennium Mining Corporation has conducted several tests in the location of Baimbawai Pool in the Sewa River. The pool is a deep section of the river with slow-moving water. Based on the geological surveys and the potential, it is estimated that the pool has around 1 to 1.5 million cubic meters of diamond-bearing gravel with grades ranging from 0.2 to 0.5 carat per cubic meter. This translates into approximately 200,000 to 750,000 carats of diamonds in the pool. Previous mining in the area has shown results as high as 4 carats per cubic meter. The largest diamond that Millennium Mining Corporation has found is a clear 8.25-carat piece in 2005.

Profits made from the mined diamonds will be injected back into the iCoin market and thereby facilitate the growth of the platform with a projected iCoin valuation of about 5000% return on value growth over the course of 5 years from the launch of the platform. In the long term, Millennium Mining Corporation plans to launch into other natural resource markets, thereby expanding its base of operation according to set timeline.

 iCoin: Tokenizing Mining

The blockchain mining operations for the diamonds will be monetized through ICOIN, the ERC20 native token of the iCoin platform. The ICOIN is currently being offered to early backers through an IEO event on the LATOKEN exchange, giving an opportunity to take part in the ground launch of the iCoin platform as well as its development. Traders and investors who are already users of the LATOKEN do not need to go through anti-money laundering (AML) and Know Your Customer (KYC) verifications.

There are only 600,000,000 ICOIN tokens ever to be minted, with 10,000,000 tokens offered during the IEO event at an issue price of USD 1 per token, and a minimum investment of USD 100. Backers can obtain the tokens using BTC, ETH or USD through exchange. The ICOIN tokens will be released to investors as soon as the event is over, giving them a chance to trade the tokens, use as a medium of exchange or hold to gain profits. The money raised from the IEO will be used to finance the mining operations, along with the mining proceeds being funneled back into the iCoin International market. iCoin is a utility token will serve both as a currency to purchase diamond merchandises on its website, the token will also be available for trade with other ERC20 tokens in the secondary market, and lastly, a year after the IEO, Millennium Mining Corp will offer up a buy-back program for iCoin International token at the market price rate.

Article Produced By
Carolyn Coley

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.


See How Apple Are Utilising The Blockchain

See How Apple Are Utilising The Blockchain


Apple Inc are best known for their flagship iMac and iPhone products,

though historically, of course, it all really started (in the mainstream at least) with the launch of the iPod. Apple Inc is a US-based multinational company that specialises in the design and development of various hardware and software products and are often considered as Microsoft's only true rival in terms of tech dominance. With an estimated revenue of $265.595 billion in 2018, it’s clear to see that Apple are frankly huge. It’s also clear that such a large tech firm will wish to explore blockchain technology sooner, rather than later. No, Apple aren’t launching their own Applecoin or iCoin just yet, however, according to reports out during the middle of last week, Apple Inc have confirmed that they will be using blockchain technology to explore new methods of manufacture that aim to make Apple’s hardware products far more environmentally friendly.

According to CCN:

“When you think of Apple, you think iPhone, iPad, or even privacy concerns. You probably don’t think conflict minerals used in the manufacturing of its devices or how blockchain could prove the cure for an ethical supply chain. Well, you should. The tech giant has filed a report with the U.S. Securities and Exchange Commission indicating it is studying ways to implement Blockchain in some form or fashion.”

Now, within their filing Apple have not actually said they will be using blockchain technology, rather they simply hint at the fact that they could use the blockchain in order to find solutions designed to make their sourcing of natural minerals and products more ethical.


This comes after Apple pledged to work in a more efficient manner back in 2018:

“In 2018, Apple chaired the board of the Responsible Business Alliance, served on the Steering Committee of the RMI, continued its participation in the European Partnership for Responsible Minerals, and served on the Governance Committee of the Public-Private Alliance for Responsible Minerals Trade. Apple also contributed to several RMI working groups, including, but not limited to, the working groups for tin, gold, and other minerals; the smelter engagement team; the Blockchain team; and the minerals reporting template team.”

Blockchain technology can seriously transform the way companies like Apple source the products that they need to make intricate pieces of hardware that go into the iPhone and the iMac. Audit trails, database maintenance and of course, product authentication can all benefit from blockchain integration, perhaps Apple have finally realised that?

Article Produced By
Adrian Barkley

Adrian has been leading teams in the finance sector for over a decade. He is highly experienced, and is responsible for ensuring that the latest news is delivered to you as it is breaking. He has a keen interest in virtual currencies, and has even made investments himself, so is incredibly passionate when it comes to writing about this topic.

Crypto-Derivatives Could Become Illegal in the UK Next Year

Crypto-Derivatives Could Become Illegal in the UK Next Year


Various governments around the world aren’t too sure how to tackle Bitcoin.

Numerous aspects of this particular industry need to be treated very differently from one another. Crypto-derivatives are getting some unfavorable attention in the United Kingdom. So much even that these vehicles may be considered illegal in the near future. 

Crypto-Derivatives are Appealing

Although a lot of people would love to speculate on the Bitcoin price, most of those traders have no intention of physically owning cryptocurrency. New solutions need to be found to cater to these people. The introduction of crypto-derivatives offers a remarkably viable solution. It allows traders to “gamble’ on the Bitcoin price movements without buying cryptocurrency directly. 

Service providers have noted there is a genuine demand for these vehicles. The fluctuations of Bitcoin are notorious. It is this price volatility that makes crypto-derivatives a gambling operation, to some extent. That particular aspect has now drawn a lot of criticism from some UK government officials. They want to see this market be deemed illegal once and for all. That could hinder the growth of cryptocurrency in the UK, although nothing has been decided as of yet. 

The Proposal

One has to keep in mind the crypto-derivatives industry is quite vast. It spans options, futures contracts, and other similarly oriented trading vehicles. As Bitcoin is not officially regulated in the UK at this time, it is only normal investors with an appetite for risk explore these options. That being said, these products do not adhere to strict derivatives guidelines present in this region, which creates a fair bit of friction. 

Under the current proposal, the Financial Conduct Authority seeks to introduce a blanket ban on crypto-derivatives sold to retail investors. This would make any Bitcoin-related trading vehicle – except for BTC itself – illegal in the United Kingdom. A bit of an odd choice as regulating this industry should have more beneficial long-term effects for all parties involved. A blanket ban is never the answer in any financial sector. For now, the proposal has yet to be voted upon. A decision is expected to be made public by Q2 2020 at the latest.

Bitcoin in the UK

It is not easy for cryptocurrencies to gain any form of mainstream traction. That situation is no different in the UK, despite it being a more open-minded region regarding such innovative tools. One does have to wonder if a blanket ban on crypto-derivatives would have real effects on the Bitcoin price. After all, appeasing retail investors has never been a high priority among the Bitcoin faithful. 

Article Produced By
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.

Germany wants to introduce Blockchain securities in 2019

Germany wants to introduce Blockchain securities in 2019


Germany is not considered a pioneer in digitization.

Fast Internet is a nuisance in many places, networked mobility new territory and top-end IT research chronically underfunded. But at least in one area, the Grand Coalition in Berlin wants to put pressure: in promoting blockchain technology. Until this Monday, it was worked on in the ministries, this Wednesday, the blockchain strategy is already adopted by the Federal Cabinet. Contrary to some fears, the strategy for decentralized database technology and virtual mapping of assets (tokens) has by no means been tentative. The Federal Government is obviously willing to make Germany the Blockchain pioneer – despite all the problems that brings the still young technology with it. “Using blockchain technology, all imaginable values, rights and obligations in tangible and intangible goods can be represented by tokens and their trade and interchangeability can potentially be simplified,” the strategy states.

Germany has a “dynamic ecosystem of developers and providers of blockchain-based services” and thus “a promising basis for the development of a token economy”. “To clarify and develop the potential (…) and to prevent abuse possibilities action of the Federal Government is required.” This action is now taking concrete shape: By 2019, the Grand Coalition wants to submit a bill for Blockchain bonds. Specifically, the strategy states: “The Federal Government wants to open German law for electronic securities. The currently mandatory specification of the securitized embodiment of securities (ie in paper form) should no longer apply without restriction. “

Electronic debt will come this year. Electronic shares and investment fund shares will subsequently be audited. “By the end of 2020, the Federal Government will investigate potential applications in corporate and cooperative law,” it states. In the end, there could be a “blockchain society” whose shareholders are established and vote by virtue of a virtual register. Thomas Heilmann, the blockchain expert of the CDU / CSU parliamentary group and father of the idea of ??the digital security, also sees significant progress: “The strategy is a good signal for the digital economy. Germany is becoming a pioneer in blockchain technology. And the substantive ideas that the CDU / CSU parliamentary group set in June can be found in good part. “

Not only Blockchain securities are to be regulated quickly. The government plans to “publish a bill this year to regulate the public offering of certain crypto-tokens,” said the strategy. A public offer of tokens is likely to take place only “if the provider has previously published an information sheet prepared in accordance with legal requirements, the publication of the Federal Financial Supervisory Authority (Bafin) has allowed.” The aim is a “high level of investor protection” and “legal certainty over with certain token designs associated legal consequences “. The Federal Government is reacting to the problems on the market for virtual IPOs, so-called ICOs.

Article Produced By – Bitcoin News source since 2012

Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest. Everything on this website can be seen as Advertisment and most comes from Press Releases, is is not responsible for any of the content of or from external sites and feeds. Sponsored or guest posts, articles and PRs are NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.

Brooklyn Nets Point Guard Looks To Break New Ground In NBA With Tokenized Contract

Brooklyn Nets Point Guard Looks To Break New Ground In NBA With Tokenized Contract

Have you ever wanted to invest in an NBA player's future? It might be possible in the upcoming season. 

Spencer Dinwiddie, a Brooklyn Nets point guard, is planning to securitize his NBA contract in the form of a digital token asset tied to his three-year, $34 million contract extension. The decision would allow Dinwiddie to raise money upfront, as opposed to waiting three years to be paid out in full, and investors would be paid principal plus interest over the course of the deal.

The Deal

Dinwiddie is planning to start his own company to sell the offering and make investments upon fundraising, according to Fox Business. “This is a newer concept utilizing the power of blockchain and crypto and bypassing a third-party intermediary. We will see how it goes and if it’s successful — and whether the league has an opinion on [whether] this is something that should be allowed under the current collective bargaining agreement,” sports attorney Darren Heitner told Benzinga.

Little else is known about the extent of the offer as well as what Dinwiddie plans to do with the money he raises. The move is certainly not without risk, and Heitner recommends potential investors do proper due diligence before investing. “To an extent I believe he is breaking new ground, and I hope he is resting on the advice of his advisors, but I certainly wouldn't advise this route to any of my clients.” Dinwiddie is certainly not without competition on the court either, after his team signed point guards Kyrie Irving and rookie phenom Jaylen Hands in the offseason.

Article Produced By
Brett Hershman

Benzinga Staff Writer

AI and Robotics Enhanced By Blockchain-Based Solutions

AI and Robotics Enhanced By Blockchain-Based Solutions

Blockchain, artificial intelligence, and robotics are three of the most innovative and catchy technologies of the modern world.

Many companies actively implement them, build their ideas upon them, and create cutting-edge products. Still, only a few startups merge these tech solutions to develop even more promising projects. Further, we will review the brightest examples of blockchain/AI integration, their common features, and how these technologies are reshaping industries.

Understanding the Concepts behind Technologies

It will be impossible to explore innovative potential of the above-mentioned technologies without realizing how they function. Robotics deals with pre-programmed machines, which can handle certain tasks without human control. Most people think that robots are humanoid machines from sci-fi movies, but there are many more types of them – from assembly machines at Tesla factories to robot dogs created by Boston Dynamics. Robots are everywhere now, so we want to focus more on blockchain and AI – technologies that are less popular and a bit more complicated to understand.


Blockchain is a decentralized network, which consists of multiple nodes and allows for secure data storage, exchange, and management. Such networks are maintained by all participants and do not rely on a single central authority. Blockchains are faster and more transparent than centralized storages. In addition, they get rid of middlemen, speed up transactions, and reduce potential fees (e.g. related to money transfers).

Blockchain is usually associated with cryptocurrencies – digital assets protected by cryptography and independent of traditional financial organizations. Cryptocurrencies have evolved into a huge industry with a total market cap of $113 billion, and hundreds of high-frequency trading platforms powering it. Traders use cryptos to earn profit, while developers implement them in industry-specific applications. The most famous crypto assets are Bitcoin (frequently used as a form of payment) and Ethereum (which serves as a platform for developers).

Artificial Intelligence

AI focuses on making robots or other machines intelligent and conscious. Now, no machine has passed the Turing test, so there’s still much room for improvement. Nevertheless, the developers are actively working on so-called ‘narrow AI systems’, which are formally intelligent, but actually pre-programmed using strict algorithms. You definitely know about such robots:

  • Chatbots
  • Smart assistants
  • Self-driving cars
  • IoT devices
  • Neural networks
  • Prediction systems

AI is a highly promising technology, but it requires a lot of investment and expertise to progress.

Essential Common Features

Despite different areas of focus, both AI and blockchain share three common features, which can serve as ‘contact points’ at integration steps:

  • Require data sharing. While blockchain allows for simple and safe transfers of all data types, AI benefits from analyzing big data for making predictions and self-learning.
  • Focus on security. Blockchain is protected by unique cryptographic protocols, and AI needs a perfectly secure environment to avoid cyberattacks.
  • Must be trustworthy. All technologies have to be trusted by users. Blockchain can help AI in this regard and push its wider adoption.

Ways to Transform the Markets

But what about real use cases of integrated AI/blockchain technologies? How can they change the world or specific industries? Look through the list below to learn about potential advantages of the technology duet:

  • Open data with proper management. Giants like Google or Facebook store tons of valuable information. Moving data to decentralized networks will make it highly protected and available for everyone, so AI machines and their developers will have a larger knowledge base to work with.
  • Perfect security and control. When stored within a blockchain, information is protected from any breaches, leaks and direct hacks. Using smart contracts, AI developers can set permissions levels, track digital identity, control data flows, etc.
  • Accurate AI predictions. Traditional systems dent the existing AI models because of large portions of superfluous data. Blockchain solves redundancy issues and maintains verified databases with accurate info in them. What’s more, such systems are immutable. 

Use Cases

Some startups and even large enterprises are currently working on merging these two innovations to develop breakthrough solutions.

SingularityNET – a decentralized marketplace for AI
which has its own AGI token. Right now, it’s pretty similar to other marketplaces built on blockchain, but its developers have really ambitious goals as they want to create a self-maintaining network powered by AI. Just imagine, the whole market maintained by smart machines. SingularityNET stands a good chance to prosper as the team works with David Hanson and his masterpiece – Sophia the robot. Another project that serves a similar purpose is

DeepBrain Chain – a blockchain-based computing platform for AI systems.

We also suggest checking Colony, a platform that tries to connect professionals with decentralized autonomous organizations. The developers aim to build a feature-rich ecosystem for blockchain companies, and use AI to effectively match individuals with organizations. State Street – the US-based bank – plans to set up a decentralized storage to protect clients’ data and use it properly. Thus, blockchain will be a technical framework, while AI tools will be used for structuring and analyzing data.

Finally, the likes of IBM seek ways to integrate blockchain, robotics, and IoT. The enterprise is developing a system for device lifecycle management, where blockchain will be used for registration, identity tracking, and permission granting, while AI will process core information and perform big data analysis. IBM also focuses on creating cognitive contracts – new versions of smart contracts which will be more adaptive and self-learning.

Article Produced By
Julia Beyers

Benzinga Contributor

What Is Waves?

What Is Waves?


The Waves (WAVES) platform is an open-source, blockchain-based network for building and deploying decentralized applications (dApps).

According to its creators, the Waves platform allows developers to build software solutions that are compatible with the evolving Web 3.0 standard. As noted on its official website, the developers of Waves believe blockchain technology has the potential to significantly improve the efficiency of a wide range of routine business procedures. These may include processes involving supply chain management, developing tokenized economies, and building secure data transfer platforms.

Addressing the Blockchain Scalability Problem

By leveraging the transparent and immutable nature of blockchain technology, Waves’ development team intends to build a fast, secure, energy-efficient, and “versatile” financial ecosystem. The Waves platform uses the Waves-NG protocol to achieve fast transaction speeds and consistently high network throughput. As noted in its technical documentation, Waves-NG aims to solve the scalability problem by reducing transaction confirmation times to seconds – instead of minutes (like on the Bitcoin and Ethereum networks)

Waves Platform Supports 13 Different Types of Transactions

In order to provide greater flexibility and allow developers to build advanced dApps, the Waves platform supports 13 different types of transactions. These include alias, burn, and data transactions (among others). An alias transaction is a short and easy-to-remember name for a Waves address that cannot be deleted. As its name implies, a burn transaction is used to burn (or destroy) crypto tokens on the Waves platform. Meanwhile, a data transaction records data to Waves’ account data storage system.

Using the Energy Efficient Proof of Stake Consensus Algorithm

As mentioned on its website, the Waves platform uses a proof-of-stake (PoS)-based consensus protocol – as it requires a relatively small amount of computing power and electricity when compared to the energy-intensive proof-of-work (PoW) mechanism. The Waves network is able to maintain low transaction costs as it does not require “gas” to function and users are only required to pay a small transfer fee with the WAVES token. 

dApps Created Using “Purpose-Designed” Programming Language

As an open-source blockchain, the Waves platform allows developers to build scalable, enterprise-grade applications. According to its developers, the Waves blockchain uses “persistent” scripts (which execute in an automatic and trustless manner) to maintain the security of the network. dApps may be developed on the Waves platform by using a “purpose-designed” programming language, called RID

Fast Debugging Process, dApps Don’t Require “Variable” Gas to Run

As explained, dApps built on the Waves network do not require “variable” gas to run. The Waves platform also supports atomic execution, meaning that the output from dApps is only registered on the blockchain if all its associated scripts are able to run properly. Debugging or checking for errors in software programs is fast and “code ambiguity” does not affect the execution process. This, as Waves’ RIDE is a “strongly-typed” programming language.

Managing Private Keys with Waves Keeper

In order to support secure cryptocurrency transactions, the Waves team has created a browser extension, called the “Waves Keeper.” Users can install the extension in order to manage their private keys and conduct secure transactions on dApps and other Waves-based web services. Waves’ suite of products also includes a user-friendly and secure multi-currency wallet. In addition to supporting transactions in major cryptoassets including bitcoin (BTC), ether (ETH), and litecoin (LTC), the Waves wallet allows fiat currency (USD, Euros) transfers.

Waves Lab Focused on Developing Web 3.0 Compatible Technologies

The developers of Waves have launched a project incubator organization, known as Waves Lab, which aims to support application developers and blockchain startups. The management at Waves Lab intends to work with development teams that are focused on building decentralized technologies for the Web 3.0 standard. In order to accelerate the growth and adoption of crypto-related technology, the Waves Lab offers “financial, technical, and marketing support” to fintech startups. The Waves team also helps developers learn how to create dApps that are written in the RIDE smart contract language.

Vostok, a Blockchain Platform for Large Enterprises

Waves’ developers have created a separate platform, called Vostok, which allows large enterprises and public organizations to build blockchain-powered software. As noted on Vostok’s official website, the initiative was launched in order to develop “modern information infrastructure” for the rapidly evolving digital economy. In addition to leveraging blockchain technology, the Vostok project uses artificial intelligence, big data, neural networks, and internet-of-things (IoT)-based applications to collect and validate information. The Vostok platform has also been designed to help organizations perform predictive analysis and pattern detection and access distributed storage services.

Waves’ Developers Propose New “Decentralized Token Rating System”

In late April 2019, Waves’ development team proposed a new protocol for “decentralized asset verification.” According to Waves’ management, the platform’s community members and data providers such as BetterTokens will offer information regarding which crypto tokens are “safe and reliable. The Waves community will provide a “collective” rating score for token projects, in order to help investors make more informed decisions. 

Waves’ Developers to Focus on Creating Improve Trading Tools

On May 30th, 2019, Waves’ developers revealed that they would be prioritizing the development of new trading features on the platform’s DEX Client App. Instead of developing the Waves DEX as a “universal application”, the Waves team has decided to mainly focus on improving the trading process on the peer-to-peer (P2P) exchange. However, Waves’ management clarified that the platform’s flagship products such as its multi-currency wallet and token leasing option will remain “an integral part” of the DEX App.

Article Produced By
Omar Faridi

Walmart Deploys Blockchain Technology: Things You Need to Know

Walmart Deploys Blockchain Technology: Things You Need to Know


Over the past few years, blockchain technology has become synonymous with cryptocurrencies,

but it is important to note that the technology in itself has a wide variety of uses. Plenty of companies that have nothing to do with cryptocurrencies are now exploring ways in which to incorporate blockchain technology into operations. Walmart is one of those companies.

Important Update

In a new development, it has emerged that retail behemoth Walmart (NYSE:WMT) is now deploying blockchain technology in order to improve the system for food traceability. The whole system is based on proof of concept, and the company has tested the whole system twice.The testing has been on done on two separate projects. The whole point of the use of such a system is to trace the origin of the food products that are being sold at Walmart. Considering the sheer size of Walmart’s operations, the use of such a system could prove to be a huge boost for the company. The first project was engaged in tracing the origins of all the variants of mangoes that were being sold in Walmart stores in the United States. The other one was to trace the source of pork that the company brings in from a range of Chinese outlets. Since the whole project is about food, traceability is a hugely important factor for the safety of the consumers.

However, the company has now expanded the whole project significantly and the system, known as Walmart’s Hyperledger Fabric, run on blockchain, can now trace as many as 25 different products. Moreover, the system can trace it from as many as five different suppliers. Walmart had been trying to install a traceability system for years, but it had not been able to do so, and now it seems that blockchain technology has come to the company’s rescue. The company is now going to incorporate all of its vegetable suppliers into the new system.

Article Produced By
Ankit Singhania

Based in India, Ankit is a financial content writer and stock market analyst. He has worked for almost a decade on several financial projects related to the stock market news, fundamental research and technical analysis for several websites. He obtained his Masters Degree In finance (MS – finance) from ICFAI. Currently, he serves as a financial consultant and technical analyst at

Bloconomic Explores The Future Of Blockchain

Bloconomic Explores The Future Of Blockchain



Blockchain and distributed ledgers are considered by many to be primitive technologies

that are still in their early stages. But, contrary to this archaic perception, mass adoption of the technologies is well within view. Industry leaders from various verticals such as finance, retail, health care, supply chain management, education, insurance, real estate and many more have begun implementing blockchain into their products and services in one way or another. Self-sustaining, energy-efficient, eco-friendly smart cities that leverage the blockchain are being envisioned. In spite of this, blockchain remains to be an unknown territory to a vast majority, whose apprehensions are fueled by skeptics and naysayers.

Bloconomic Expo – The Purpose

To combat the enigma surrounding blockchain, proponents of the technology organize events to create awareness on the benefits of adopting the technology, provide a platform for sharing insights among attendees, and allow entrepreneurs to propose their innovations. The Bloconomic Expo is one such attempt by Alphacap and the Malaysian Blockchain association to facilitate the large-scale adoption of blockchain; to bring in valuable cognitive and intellectual resources into South-East Asia; to discuss the possibilities of potential use-cases that can transform or be a solution to the stagnant, unreliable and redundant conventional practices; and to lay the foundations for the technology’s mainstream use in the future by creating a network of blockchain developers, researchers and entrepreneurs.

The 2019 Edition of the Event

The yearly event brings together blockchain businesses, blockchain thought leaders, influential speakers, educationalists, economists, investors, venture capitalists, crypto enthusiasts, government delegates, lawmakers and regulators of various jurisdictions from across the globe. Specifically, Bloconomic aims to discuss the application of blockchain in fields such as finance, healthcare, travel, energy trading, supply chain management, digital identity authentication, electronic record authentication, E-KYC, government governance, and IoT. The 2019 edition of the event, held on the 15th and 16th of August at LeMeridian Putrajaya, saw a huge turnout. Keynotes were delivered by VIPs and speakers from various organizations involved in panel discussions. Some of the topics of discussion were blockchain in economy, social impact, regulatory compliance, safety and privacy matters, finance and banking etc.

Awards and Recognitions

The Expo recognizes the efforts taken by the organizations to bring about constructive changes to the current scenario and awards them under categories such as best blockchain technology developer, best finance disruptor, best blockchain innovation, and best crypto community, etc. ‘The Best Crypto Community Award’ was received by Mr. Afanddy Bin Hushni, Chairman of Beldex International, and was honored by Mr. Dato’ Rayson Wong, President of Malaysia Blockchain Association in the presence of Mr. Datuk Seri Mohd Redzuan Md Yusof, Minister of Entrepreneur Development,


Beldex provides the crypto community with a privacy-centric platform. CEO Mr. Liew Kang Loon states that “The community drives home our vision of developing a privacy centered ecosystem and proactively promulgates our cause. They have been and will continue to be the focal point of our operations.” Further adding that Beldex serves in its community’s best interests, he said that he expects their continued support.

Article Produced By
Bitcoin Garden

This content is brought to you by the Bitcoin Garden staff.