In 2017, blockchain technology burst out from the shadows behind bitcoin and grabbed the spotlight as the Next Big Thing in data management at corporations all around the world. Here's a recap of the five DLT stories that most appealed to our readers last year.
1) How the blockchain could enable agent collaboration in the remittances market
Agents ensure last-mile connectivity for remittance service providers, but networks can suffer from issues such as lack of financial incentives and networking. A blockchain-based solution might help to improve collaboration, engagement and incentives.
2) How to create a new virtual currency
An expert explains the elements of virtual currency, including peer-to-peer networks, content delivery systems, cryptographic hashing, digital signatures and transferring value on the network. These elements are the basis for an anonymous system for exchanging money and information.
3) 4 effects of blockchain on financial services
Blockchain is best suited to environments involving shared data and distrust, or the need for validation between parties — which makes financial services providers prime candidates for its use in at least four areas.
4) From farm to table: How blockchain benefits food supply chains
The blockchain allows anyone with access to its distributed ledger to track what went into a product and who handled it along the way. This transparency is especially relevant to food supply chains, given their geographic expansion in recent years and the amount of data companies track.
5) Blockchain and artificial intelligence
A rarely discussed aspect of disruptive technologies is how few of them can be used in combination to deliver greater business value. Blockchain and AI are two disruptive technologies that could accomplish infinitely more together than either alone.