How Blockchain Went From Bitcoin To Big Business by Forbes


Reporter Michael Del Castillo did a great job explaining in simple English how large enterprises are using permissioned blockchain to build whole new ways of doing businesses that let them move everything from money to records of tuna transactions, using shared distributed ledger without unnecessary middlemen.


The biggest difference between the permissioned block and permissionless blockchain such as Bitcoin and Ethereum is where the source of trust comes from. The latter's source of trust comes from the external such as mathematics and electricity, which makes the transaction easier to view. For regulatory reasons enterprises are reluctant to accept the external source of trust, hence arises a comprised version of blockchain - permissioned and invitation-only blockchain.


In the end, blockchain is just a way to prove you move things from one place to another, without relying on middlemen.


The video talked about the real life case of the household brand Bumble Bee Tuna, which adopts distributed ledger technology to track the origin of tuna, allowing consumers to have access to the source of information through the shared distributed ledger used by all supply chain participants, a unlikely practice without blockchain.


IBM and trueDigital are two technology companies that work with enterprises to move things using blockchain. trueDigial lately created a blockchain based platform Signet for Signature Bank, which supports 24/7/365 transferring of US dollar.

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