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by Yap Heng Kiong
Blockchain is a network of computers (nodes) that can compute the authenticity of transactions in a decentralised manner. Due to its distributed database, Blockchain effectively cuts down on operational inefficiencies and ultimately saves money. Blockchains taps on existing proven technology concepts and mathematical functions to build a secure, immutable record of who owns what and when. This eliminates the need for third parties (intermediaries such as banks). Even though in the early stages of adoption, many believe that Blockchain can potentially reshape how businesses can be done around the globe. For example, in Logistics and Supply Chain, moving to Blockchain has potential to allow trades and transactions to become more efficient, especially across borders. In summary, Blockchain SIMPLIFIES workflow processes and REDUCES the cost of conducting business transactions. Benefits for businesses include:
Any industry striving to achieve better operational efficiencies and seeking to reduce cost of business are potential used cases for Blockchain. There is a nice picture I found online showing potential industry disruption: Newco Shift | Graphic: Blockchain for Every Industry Is It Difficult to Learn About Blockchain?Well it depends on to what level of competency you wish to master. Largely, I think we can divide into the following -
I am creating a multi-part guide on the fundamentals of Blockchain. Part 1 and 2 have been released and can be found at below link. Click here to access the guide Part 1 - What is Blockchain? Part 2 - Centralised vs Decentralised Database
2 Comments
2/27/2024 11:02:22 pm
IoT (Internet of Things) SIM cards are specialized SIM cards designed for devices in the IoT ecosystem. They enable connectivity for various IoT devices, allowing them to communicate over cellular networks. Unlike traditional SIM cards, IoT SIMs offer features like lower power consumption, remote management, and enhanced security. They cater to the specific needs of IoT applications such as smart meters, asset tracking, wearable devices, and industrial sensors, facilitating seamless data transfer and communication in the IoT environment.
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2/27/2024 11:16:16 pm
IoT (Internet of Things) SIM cards are specialized subscriber identity module cards designed for IoT devices. These SIM cards enable connectivity and communication between IoT devices and networks, allowing them to transmit and receive data over the internet. IoT SIM cards often come with features like low power consumption, remote management capabilities, and secure data transmission. They play a crucial role in facilitating the operation and functionality of various IoT applications across industries such as smart home technology, healthcare, transportation, and agriculture.
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