This technology was vigorously discussed at the recent World Economic Forum in Davos. Bankers from Wall Street invest money in it. Mark Andreesen, the famous developer of the world's first Web browser (Netscape) and one of the founders of Netscape Communications, called it the most important technology since the advent of the Internet. What is it about? Of course, about the blockchain.
Created by a mysterious hacker named Satoshi Nakamoto, distributed register technology, which is the basis of the crypto currency, Bitcoin, also known as a blockchain, can drastically change many industries, from finance and real estate to the entertainment industry. This forces the Silicon Valley titans, world financial leaders and even independent developers to hastily calculate the consequences of the appearance of this technology, so as not to be caught unaware.
Tim Swanson, the head of R3's development department (a New York start-up, organized with the support of a consortium of large banks), called the blockchain something like glutene: everybody talks about it, but no one really knows all the details. Quite simply, the blockchain is used to transfer something that has value: money, shares, property rights, digital license fees, even the votes of voters in the elections through the Internet from one party to another...
We offer blockchain development solutions for any kind of buisness: online payments, financial software, royalty collection.
Today, such transactions often pass through many intermediate parties in the process of authorization, clearing and processing, and are stored in centralized registries of organizations such as the Central Bank (if it comes to financial transactions) or the system of electronic registration of mortgage transactions.
Blockchain distributes the functions of validation and storing the transactions between several computers in a safe and open way, eliminating the need for intermediaries. As a result, the time and costs of processing transactions are practically reduced to zero. Alex Tapscott, CEO of Northwest Passage Ventures (specializing in block chains), sees this technology as the next generation of the Internet, which he calls the Internet of Value.
Since both the original technology of block chains for bitcoins and its new variations, according to Tepskott, have the most powerful potential for transforming huge branches of the economy, the first attempts to develop solutions based on blockchain were made in two areas: in financial services and in creativity, namely music and advertising.