Blockchain Use Cases and Applications

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Blockchain brings transparency, governance, and security to the internet.

Here’s a list of use cases and applications for blockchain.

Smart contracts -- automates the execution of contracts online.

Replacing paper contracts, these code units automate the contract and maintain an online record of the transactions.

Cybersecurity -- secures the integrity of the data and systems.

Blockchain distributes the data across the network making it more secure from hackers.

Supply chain -- captures and stores the data from all participants in a supply chain.

Blockchain maintains the record of all transactions in a supply chain network giving everyone visibility on the system.

Cryptocurrency -- enables digital money.

Blockchain removes the gatekeepers and creates an online system for supporting digital currencies through online “trust”.

NFTs -- non-fungible tokens are unique digital assets.

Blockchain enables the creation, storage, and transfer of digital assets online.

Blockchain applications benefit from the online nature of the system in which manual steps, gatekeepers, and physical components such as paper contracts and physical coins and dollars are replaced with online equivalents.

Applications include healthcare such as electronic medical record keeping.

Governance such as voting for proposals and initiatives.

Identity such as replacing passports and driver's license for proof of identity.

Banking such as the use of digital currencies instead of physical ones.

Blockchain creates a new level of network connectivity enabling higher levels of connectivity and performance.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

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How To View the Blockchain World

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Blockchain brings a new technical paradigm to the internet.

Here are the key players and components of the blockchain world

Asset holders -- they acquire tokens, coins, and NFTs that represent value.

This includes exchanges, wallets, banks, funds and lenders.

Protocols -- these are computer protocols that manage the exchange of information and value.

This includes using coins as a store of value, or tokens to gain access to an asset, or NFTs as collectibles.

Smart contracts execute the transactions within the protocol.

Exchanges -- marketplaces for trading digital assets.

This includes traditional exchanges with a gatekeeper managing the process as well as decentralized exchanges with no intermediaries.

Chains -- these are databases which store the transactions.

Network effects impact the usefulness of chains. The more users on the chain, the more users will want to engage it.

Miners -- they run algorithms to ensure the information across the distributed nodes remains accurate and consistent.

Application software -- these are the applications that provide the user specific services such as a social network, managing real estate assets, or tracking insurance coverage.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
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What Is a Blockchain

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Blockchain is a way of recording information that is hard to hack or steal.

It is a ledger of transactions that are distributed across a network of computers

New transactions are added to each ledger throughout the network.

Multiple players manage this distributed information called the Distributed Ledger.

The blockchain can be programmed with smart contracts.

These code units execute transactions across the blockchain.

The records are immutable which means they cannot be changed.

Those transacting on the blockchain can be anonymous.

Every record is encrypted for security reasons.

Each record is time and date-stamped.

No single person or node controls the blockchain.

But every node holding the blockchain collectively agrees to the content.

The blockchain provides the mechanism for building “trust” into a network.

This provides the technical basis for digital money.

There no longer needs to be a gatekeeper for handling money.

An online network of computers through a series of computer code executions can replicate the gatekeeper function.

This enables online means to manage money.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.