CinderBlock: A True Tale of Why You Need to Know About Blockchain and Its Relevance
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Once upon a time a beautiful young woman named Cinderella married Prince Charming and, so we are told, lived happily ever after. Yet what would have been the next part of her story, after their wedding, if Cinderella had been rescued from her slavery only 10 years ago?
The mice who had been her friends swiftly introduced her to their electronic cousin mouse, which enabled Cinderella to become a voracious reader, lykke nextgeneration trading platformbitcoin garden information and attaining great knowledge of world events, technology, commerce, the environment and social awareness. For while encouraging her husband to pursue his love of sustainable gardening, she built global brands in fashion design and mending, cleaning and wedding catering, the most lucrative of them all.
In recent years, her initial curiosity in Blockchain had transformed into a wholehearted devotion to the realm of possibilities offered by the new and emerging technologies. However, the Blockchain technology, essentially as a shared, trusted, transparent and immutable ledger, provides lykke nextgeneration trading platformbitcoin garden improved efficiencies, speed, security and, ever important, cost savings, particularly lykke nextgeneration trading platformbitcoin garden middle operators can be removed from the transaction.
Indeed, cognisant of lykke nextgeneration trading platformbitcoin garden disruptive impact of Blockchain on the financial sector, many banks are leading the development of Lykke nextgeneration trading platformbitcoin garden technology and solutions, to maintain their sustainable relevance. Cinderella adored her husband, who continued to look upon her with devotion and respect for her business acumen and beauty, in equal measure.
She admired lykke nextgeneration trading platformbitcoin garden long hours he toiled in the field, yet felt sorrow in her heart watching him wait 30 days, and often longer, to be paid after he delivered his grain and other crops to the collections silos. By executing automatically, the speed of the transaction to purchase grain and settle the agreement was vastly enhanced.
The record should show his great-grandfather and great-grandmamma, had first employed the fairy ancestors to roll tobacco leaves on their thighs at dawn for the sweetest cigars of all.
She encouraged the Prince to set his winemaking sights beyond the domestic market and into China. Beyond China, in south-east Asia the Prince was impressed to hear in September Singapore announced its intention to become a hub for Blockchain development in commodity trading.
The Prince contemplated the immense benefits and value of ensuring authenticity and provenance for food and other consumables through Blockchain, from paddock to plate. Privately, her parents hoped when the time came, she would lykke nextgeneration trading platformbitcoin garden need to adopt a nickname of Charlie to achieve recognition of her skills. On a bit of a lark one afternoon, the Princess flew her drone to the far reaches of the property and identified a barren area entirely unsuitable for cattle, wine and crops, but superbly located for an advanced technology solar farm.
As wise and supportive parents, Cinderella and the Prince had always encouraged their children to speak on areas of interest at mealtimes. Over breakfast the following morning, Princess Charlotte breathlessly recounted that the project will assess how cities can use Blockchain technology and data analytics to integrate distributed energy and water systems.
Using Blockchain technology and data analytics, it is envisaged the viability of interconnected advanced technology infrastructure will be demonstrated, involving the orchestrated use of:. While noting more fulsome details of the truly watershed initiative are available at https: What the princess found rather exciting was the transparent, auditable and automated market trading and clearing mechanisms enabled through Blockchain puts into the hands of consumers and the individual relatively small-scale generators rather than traditional major power generation companies:.
PowerLedger will develop and maintain all Blockchain applications for the project and purchase the community battery. So, dear reader, you can see the moral of our tale starting to form. Blockchain will become, and is already well on its way to becoming, an integral part of the infrastructure of our lives. Lykke nextgeneration trading platformbitcoin garden hour to midnight is rapidly approaching. What, you may ask, ever became of those wretched step-sisters of Cinderella? One does not wish to be unkind to their colleagues through association, but it was fact enough each had become a lower-middle-management bureaucrat.
One sat constantly, it should be observedin the Department of State Development and the other with beady-eyed precision as her finest attributein the Department of Treasury. The step-sisters themselves rejoiced in the comforting predictability of doing nothing new and beneficial. However, the Minister, Director-General and other senior representatives of each department, were greatly admired leaders for their focus on beneficial innovation, with a deep appreciation of the importance of government leading by example in the development and implementation of Blockchain solutions.
Through a rather strange turn of events, the day prior to senior representatives of a Ministerial trade delegation travelling to Estonia, each of the dozen representatives fell violently ill. Of course, one cannot dismiss the sneaking suspicion the apple cider served at the farewell barbeque, hurriedly arranged and hosted by the step-sisters rather unexpectedly, may have concealed a potion or seven.
Given the batting order collapse, it fell to the step-sisters to represent the Kingdom at the trade event in Estonia. It fell to Cinderella to brief the step-sisters prior to their departure, who advised them as follows.
SinceEstonia has demonstrated unprecedented leadership to embrace the digital age, by issuing essentially each of its 1. SinceEstonia has been testing Blockchain technology. The system uses KSI Blockchain technology developed in Estonia by Guardtimeto ensure the integrity of the data and reduce the risk of internal threats to the data. The information includes blood-type, allergies, recent treatments, ongoing medication and pregnancy, which is particularly useful in time-critical treatments.
Additionally, inEstonia started working towards cross-border data exchange facilities with Finland, which will allow doctors in one country to access medical records of a patient in another country.
The technology is now available in countries. Estonia has the second fastest court proceedings in Europe, given the fully automated court processes, electronic communication tools and, sincepaperless proceedings. The significant transparency afforded by the system reduces corruption and encourages citizens to take an active interest in the business of the Council and creation of laws.
Holding a verified, government-issued identity reduces risk particularly to overcome the challenges often associated with not knowing the party with whom one is dealing lykke nextgeneration trading platformbitcoin garden businessand promotes commercial trade. The primary focus of the e-Residency is to promote and enable entrepreneurial potential, by democratising access to e-commerce, regardless of where the person lives in the world.
I am delighted to report that despite the narrow avoidance of an international diplomatic incident involving a sailing boat, the trade delegation by the step-sisters was heralded as an overwhelming success. Most surprising of all, other than the quantities of oysters and champagne each step-sister consumed, was their wholehearted endorsement of all things Blockchain that are currently being used, and which one may imagine could be used, to promote and enable swift efficiency in government systems.
The often lamented, traditional yet largely unnecessary, 30 to 45 day standard escrow and property settlement period, could be removed with the crisp efficiency of a navy and cream cushion on a tan leather couch.
Lykke nextgeneration trading platformbitcoin garden of the ladies was well-familiar with the derision and staunch objection to change of The Establishment. They understood the entrenched practices of banks, title registries, insurance firms, real estate agents and, perhaps most frightening, their lawyers, could be stubborn and obstructionist when it came to changing processes steeped in tradition and lykke nextgeneration trading platformbitcoin garden.
With perhaps undue compassion, the princesses acknowledged the self-protectionist attitude that prevailed amongst some, who would likely have their relevance and involvement diminished or extinguished entirely, through lykke nextgeneration trading platformbitcoin garden use of Blockchain solutions lykke nextgeneration trading platformbitcoin garden real estate transactions.
Nonetheless, if the Torrens title system lykke nextgeneration trading platformbitcoin garden been created so long ago without the benefit of technology, surely the world could adapt to a Blockchain-based title system. Indeed, in those societies that currently struggle under the burden of dubious title systems, one might think the establishment lykke nextgeneration trading platformbitcoin garden an lykke nextgeneration trading platformbitcoin garden and transparent Blockchain title system ought reasonably be embraced.
The ladies took some confidence that in July in Australia, the ANZ Bank and Westpac, with the collaborative involvement of IBA and Scentre Group a shopping centre groupused Blockchain for bank guarantees on commercial property leasing, for a paperless guarantee transaction. In addition to providing greater transactional efficiencies, key benefits included removing the costs of fraud, error and operational risk, particularly given the traditionally cumbersome use of guarantees and tracking them, especially in the retail leasing sector.
The use of digital signatures that can be verified automatically is an inherent part of the automated smart contracts Blockchain format. Lykke nextgeneration trading platformbitcoin garden, legal impediments remain, particularly in relation to the legal validity of digital signatures.
Importantly, the veracity of the Blockchain system will likely significantly reduce the need for real estate insurance systems that currently cover risks such as forgery and human error.
Other countries are seeking guidance from Sweden lykke nextgeneration trading platformbitcoin garden the purpose of introducing Blockchain for their own land title systems. Early one morning, as Cinderella settled in front of her computer, her phone rang. Before she could give a greeting, the unmistakeable voice of her dear builder, Barry, penetrated her lykke nextgeneration trading platformbitcoin garden, straight through to the centre of her brain. She smiled at his distinct British accent and charm.
He was the only person she allowed to call her by that name, such was her affection for him and respect for the high quality of his work. Cinderella was building a technologically advanced medical centre and she trusted no-one more than Barry to see her vision for the design fulfilled, with its absolute focus on standards of excellence in patient care. Perhaps through the genetic force of recessive pirate blood, Barry … spoke.
It is a little difficult for one to describe his style of expression, other than to quote him. She reassured him that over the weekend she would compile a list of ways in which Blockchain could benefit the construction industry lykke nextgeneration trading platformbitcoin garden reduce aspects of angst within the current system.
This tale is already longer than an ordinary bedtime tale, so you will simply have to wait patiently for the next chapter, which will be told shortly. However, there is one final event of which I know you desire to hear, so if you settle and be still for a few more moments, I will recount it to you.
Despite all her business success, in her heart and as her true self, Cinderella wished most of all to use her commercial acumen to protect and empower others, particularly those in need and extreme poverty.
At a personal level, she saw the immense benefits Blockchain could provide for the many unbanked and underbanked people in developing communities, particularly women and girls. She understood the importance of financial inclusion, yet the absence of an official identity precluded their participation in so many systems for which the establishment of identify was the first and fundamental step.
While one may reasonably expect Cinderella to be a whiz at planning a ball, and there certainly had been legendary celebrations within the palace over the years, over a simple and elegant meal in the Reflective Garden, Cinderella wished lykke nextgeneration trading platformbitcoin garden honour the outstanding and innovative work of so many start-up and established organisations focused on Blockchain solutions. In drawing together the sharpest minds in Blockchain, the theme would be to identify how Blockchain could most effectively be used to alleviate global poverty and empower the weak and vulnerable.
She also intended to put to the collective knowledge how Lykke nextgeneration trading platformbitcoin garden could be best utilised in emergency and post-natural disaster situations, particularly to organise the efficient distribution of resources. Cinderella relished the opportunity to establish strategic collaborations between powerful organisations and people, so with an alignment of interests they could benefit many.
The long banquet table would be flanked by high hedges to remind of the importance of respecting the need for commercial confidentiality to promote open conversation amongst the guests. The thousands of fairy lights in the hedges and the crystal clear pond at one end of the table would be a constant reminder of the inability of millions to access clean drinking water while so many in the world enjoyed lavish opportunities. Knowing she could call upon her Fairy Godmother to have the palace ready in time, provided Cinderella gave her sufficient notice to schedule the preparations between her apprenticeship training businesses, horse-racing interests and online share-trading in international markets, Cinderella prepared the invitation list.
First at the table was CoinDesk, a veritable fountain of knowledge when it comes to Blockchain news, current events, information and guidance www. She was particularly intrigued by Ethereum Wallet, given the number of cryptocurrencies swirling in the space. Lykke nextgeneration trading platformbitcoin garden on the importance of creating identities for the purpose of providing access to financial and other services for the many unbanked and underbanked, Cinderella delighted at the thought of speaking with the senior representatives of Qadre, who were so dedicated to developing Blockchain solutions to create and manage identity and trust.
Together with the ever impressive Dr Jane Thomason, CEO of Abt Associates Australia and Britain and member of the Advisory Board of the British Blockchain Association, Cinderella could only count her blessings at the opportunity to also invite the three to speak about their December announcement of the establishment of the Blockchain Academy for Girls. The purpose of the Academy would be to provide training and guidance for girls in Blockchain, to enhance their career and other opportunities. She was then simply lykke nextgeneration trading platformbitcoin garden breathless to discover Circle used Blockchain and Ethereum to allow customers to transfer fiat currencies of US dollars, British pounds sterling and Euros on their mobile phones, extraordinarily, without any fees or foreign exchange mark-ups.
Cinderella knew she would find a kindred spirit in the CEO of BitPesa, who was leading the company to achieve such impressive month on month growth. So cleverly, BitPesa enables businesses to swiftly and inexpensively make payments to and from Africa and within Africa, across borders as never before. Blockchain is the crucial vehicle through which the transactions are facilitated as a currency is converted to Bitcoin, moved across a border and converted into the currency of the destination country.
The use of Bitcoin on the Blockchain enables transactions to occur within the hour, whereas ordinarily businesses and people are forced to endure the time delay, inherent costs and frustrations associated with traditional financial processes.
Using Blockchain, BRER provides victims of the refugee crisis in Europe and the United Kingdom with an emergency digital identification and bitcoin-based credit card, through which they may receive funds from family and friends, without the traditional use of bank accounts.
While recognising the need for administration costs and salaries of not-for-profit organisations to be covered to enable the work of the organisations to be undertaken, Cinderella was acutely sensitive to the costs of middle operators depleting the funds that could otherwise be available to support people lykke nextgeneration trading platformbitcoin garden need. Bankymoon electricity meters are installed adjacent to schools in need in Africa.
Through Blockchain technology, donors from around the world can donate directly to the meter in the cryptocurrency of their choice, to pay for electricity for the schools in areas where prepayment of power is required. Through the AgriLedger app, farmers can move away from the traditional paper-based records and verbal promises, with their associated vulnerability to corruption and lack of transparency.
Though ordinarily that may generate as much excitement as one may muster for a full garage cleanout, the decision heralded a new age and lykke nextgeneration trading platformbitcoin garden shift in the Australian financial landscape.
There were so many representatives of cryptocurrency companies, it simply would have been unthinkingly impolite to cause the table conversation to be dominated by the topic. Cinderella thought it best to limit the number lykke nextgeneration trading platformbitcoin garden guests to only a few. Naturally, Bitcoin would be warmly welcomed as an old friend, whose continuing rising value was the talk of people, from Presidents to shoe-shiners.
The detailed knowledge by the latter caused some naysayers to forecast precarious days ahead. As a chat messenger service, no doubt Kik would bring considerable conversation to the table.
