“In one corner, we have Apple, the largest publicly traded company in the U.S. based on market cap and a business that likely needs no introduction,” Sean Williams writes for The Motley Fool. “In the other corner, we have blockchain technology, which is being touted as the greatest thing since sliced bread for industries ranging from financial services to retail and technology.”
“Blockchain describes the digital, distributed, and decentralized ledger that’s responsible for transparently and immutably (i.e., in an unchanging manner) recording all transactions without the need for a financial intermediary, which is often a bank,” Williams writes. “Blockchain is also being examined as a means to more effectively control supply chains, as well as quickly locate inefficiencies within logistics operations. Additionally, it can be used to immutably log medical records, create digital IDs, and act as a loyalty-rewards platform for retailers, to name a few of its noncurrency projects.”
“Now, the world’s most valuable company and the buzziest concept in the business universe may be joining forces,” Williams writes. “Back on Dec. 7, 2017, it became public information that Apple had filed a patent application (officially, “Obtaining and Using Time Information on a Secure Element”) with the U.S. Patent and Trademark Office for a timestamp verification system that would potentially incorporate the use of blockchain.”
Read more in the full article here.
MacDailyNews Take: Security.
SEE ALSO:
Apple patent filing hints at Blockchain use – December 9, 2017
I had to look it up. Not sure that it’s good for the commons since it seems to not pay any taxes to finance the commons. So I am provisionally concluding that it’s promoted by the wealthy to the detriment of the poor and dispossessed.
“Is blockchain technology the new internet?
The blockchain is an undeniably ingenious invention – the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto. But since then, it has evolved into something greater, and the main question every single person is asking is: What is Blockchain?
By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency, Bitcoin, (Buy Bitcoin) the tech community is now finding other potential uses for the technology.
Bitcoin has been called “digital gold,” and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value. Like the internet (or your car), you don’t need to know how the blockchain works to use it. However, having a basic knowledge of this new technology shows why it’s considered revolutionary.”
“Blockchain describes the digital, distributed, and decentralized ledger that’s responsible for transparently and immutably (i.e., in an unchanging manner) recording all transactions…”
I have seen this exact phrase repeated so many times over the last several months I’m beginning to believe authors of articles like this have absolutely zero idea about the subject and are instead just doing a copy and paste from other articles that are extremely buzzword heavy.
Blockchain is the (relatively) new miracle drug for the digital world. Right now too many people are claiming it is the tool for everything and anything. Maybe it will shine my shoes too!
Once the hype settles down in a year or two or three, maybe we’ll find out the best uses for it.