A blockchain is a database with user-distributed validation. If youve ever heard of Bitcoin, youve seen one of blockchains biggest current applications. Through our workshop, youll develop a deep understanding of how blockchain works and why developers are becoming so interested in the technology. Well start by reviewing current blockchain-based models such as cryptocurrency, business order tracking, banking, and contract validation. By the end of our workshop, youll know how cryptocurrencies function, which emerging startups are currently getting funded in the blockchain scene, and why blockchain ledgers are considered the technology of the future.
If only time travel were possible then majority of people would wish to back in 2010 to buy bitcoins. A mere 10,000 rupees invested in bitcoins back then would have fetched you over mind boggling 330 crores by now! The world was stunned with such a phenomenal growth of bitcoins as a cryptocurrency. Keep reading this post as we will explain about bitcoin shortly. But how could such a currency grow stupendously on a global scale? The answer is Blockchain. Simple as it may sound there are huge mechanisms in place in making the technology work. The time spent by IBM global financing was reduced by 75% in solving financial disputes using Blockchain technology. Did you know that in international trade finance and remittances ICICI bank using Blockchain technology successfully executed transactions? Did you know SBI is using it in its KYC norms and smart projects? Did you know that Azure is already providing Blockchain as a service(BaaS)? And these are just three instances of the applications of Blockchain and the most obvious use case is bitcoin.
A blockchain is a decentralized digital ledger that saves transactions on thousands of computers around the globe. These are registered in a way that inhibits their subsequent modification. Blockchain technology increases the security and speeds up the exchange of information in a way that is cost-effective and more transparent. It also dispenses with third parties whose main role was to provide a trust and certification element in transactions (such as notaries and banks).
Today we are taking a look at an UAE blockchain developer software company, Leeway Hertz – https://www.leewayhertz.com/blockchain-developers-uae/
They provide various services including : Permissioned and Permissionless Blockchain Development. We have completed permissioned and permissionless blockchain development for startups and enterprises.
Development Portfolio example:
Blockchain-based Pharma Supply Chain Solution
To track the movement of drugs from the manufacturer to the end consumer at global locations. Blockchain technology helps to maintain trust between all parties by capturing records from every location to the chain, eliminating paperwork. Ensuring no counterfeit medications slips because of lack of traceability. Ability to identify stock locations in case of a medical recall.
We convert ideas into practical applications that are scalable and reliable. We recommend following a process to test quickly and get product maturity at early stages. With the experience of building 100+ digital platforms for clouds, apps, and blockchain companies, we have tailored our process to match the ongoing blockchain industry changes.
Brainstorm idea and business requirements
Identify any existing system migration to Distributed Ledger
Prioritize use cases in Fail fast, MVP & v2.0
Define off chain & on chain business entities
Define technical component
Roadmap of the product
Supporting the following platforms:
1. Ethereum – A decentralized public platform that runs dApps
2. Hyperledger – A provisioned private network meant to share data and process for enterprises
3. R3 – A solution for managing financial agreements
4. Stellar – Stellar is an open platform for building financial products that connect people everywhere.
5. EOS – EOS is a decentralized blockchain, which can process fast and free transactions.
6. Hashgraph – Fair, Fast and most secured acrylic graph DLT.
7. Corda – Corda is an open source blockchain platform for businesses.
8. Credits – Credits blockchain platform manages for creates financial services based on blockchain/ledger
9. NEO – NEO is a blockchain platform designed to build a scalable network of decentralized applications.