SECTION 1 – What is Cryptocurrency and the Blockchain?
Thought Provoking Questions:
What are your thoughts on Billionaires getting richer by more than 1 trillion dollars in 2020?
Are you frustrated about missing out on the Internet and real estate recovery of 2008?
How do you feel about privacy on the internet?
On a scale of 1 to 10 with 1 being not at all and 10 being very worried, how worried are you about online hackers?
How would you like to retain all ownership over your content uploaded on social media sites?
Would you be interested in participating with a community of people focused on the financial improvement of everyone in the community?
SECTION 2 – Who is currently using the Blockchain?
As an extension of Amazon Web Services, the e-commerce behemoth offers blockchain tools for companies that don’t want to build their own. In Australia, Nestlé used Amazon’s blockchain product to help launch a new coffee brand, “Chain of Origin,” where consumers can look inside the coffee’s supply chain.
At the end of 2019 Anthem health insurance company started rolling out a blockchain-powered feature that allows patients to securely access and share their medical data. In the next two to three years, all 40 million members will gain access to it.
The luxury automaker currently has a pilot program with suppliers with plants in Europe, Mexico and the U.S. and uses blockchain to track materials, components and parts across its supply chain. BMW is also a member of the Mobile Open Blockchain Initiative (MOBI), which is made up of a consortium of auto manufacturers including Honda and Ford. In July 2019, MOBI launched the auto industry’s first blockchain vehicle identity standard, which gives new cars a digital identity.
Citi recently digitally issued its first letter of credit using its trade-finance-focused blockchain Komgo. Citi is also working with Goldman Sachs and 13 other trading firms to automate the matching and reconciliation of equity-swaps derivative contracts using Axoni’s Axcore blockchain. By moving the entire workflow to the blockchain, Citi hopes to reduce errors and operational costs and minimize disputes over the valuation of assets.
Eight years after its start, Coinbase has opened 35 million accounts, presides over $21 billion of assets and is on target, we estimate, to top $800 million in revenue this year. Think of Coinbase as the blue chip among dozens of cryptocurrency exchanges, abiding by regulations and serving institutional investors, pension funds, endowments and retail investors alike. In February 2020, Coinbase announced that it had received authority from Visa to issue its own credit cards.
The German auto giant has overseen several blockchain pilots, ranging from letting Daimler truck owners make payments for fuel using e-euros to issuing a one-year €100 German debt instrument known as a Schuldschein. It is also using blockchain technology to track contracts along the supply chain through subsidiary Mercedes-Benz.
After several high-profile recalls last decade, Dole has adopted blockchain across all vegetable processing, for millions of pounds of lettuce, spinach and coleslaw. Customers at Walmart can now check where their fruit comes from by scanning a code used by farmers. Dole’s fruit business is next. Dole’s new level of traceability starts on the farm and ends at the grocery aisle. Through partner IBM Food Trust, current transaction volumes are about 11,300 transactions a day, or 2.3 million a year.
GE is actively exploring blockchain through its $30 billion (revs) Aviation subsidiary, which has built what it calls a “back-to-birth” record of an airplane engine that records important details of the manufacturing process and specifics about the maintenance performed. In an industry where complete, easily accessible records are critical to productivity (airline parts without proper documentation are not easily bought and sold without proper documentation), GE’s blockchain team has created a digitized paper trail in order to prevent engines with incomplete paperwork from sitting unused.
In June, the search giant announced that it was integrating its BigQuery data analytics platform with Chainlink, allowing data from outside sources to be used in applications built directly on the blockchain. The partnership could help process futures contracts, settle speculative bets and make transactions more private. Earlier in 2019, Google launched a suite of tools on BigQuery that made blockchain data for bitcoin and seven other major cryptocurrencies fully searchable.
The world’s largest publicly traded food company launched three products thanks to IBM Food Trust in 2019, with another two slated by the spring. European customers can now scan QR Codes and track organic infant formula, baby food and instant mashed potatoes from manufacturing to the grocery shelf. Through OpenSC, Nestlé is also piloting another project with dairy farmers in New Zealand and palm oil producers in South America.
More Top 50
Section 3 – What Markets Benefit from Crypto-Blockchain
Guggenheim Investments, an asset management firm with over $230 billion under management, has valued Bitcoin at $400,000 based on fundamental analysis. Guggenheim wanted to invest in Bitcoin when the price of the cryptocurrency was at the $10,000 level. The company is currently waiting for approval from the U.S. Securities and Exchange Commission (SEC) to start investing in Bitcoin.
Pioneered by Bitcoin, cryptocurrency transfer apps are exploding in popularity right now. Blockchain is especially popular in finance for the money and time it can save financial companies of all sizes. By eliminating bureaucratic red tape, making ledger systems real-time and reducing third-party fees, blockchain can save the largest banks $8-$12 billion a year, according to a recent article by ComputerWorld. We’ll take a deeper dive into four companies using blockchain to efficiently transfer money.
Cryptocurrency has become a global phenomenon in recent years. Various industries are benefiting from the convenience of cryptocurrency, and one of those industries is online gaming. According to the Wax report, around 75% of online game players want to exchange their virtual assets for a currency that they could use to buy and sell on other platforms. Cryptocurrencies enable players to collect and trade in virtual assets, which they can exchange and trade across anywhere in the world. Hence, it offers the gaming industry a safe and easy medium to make money.
According to identity theft expert LifeLock, more than 16 million Americans complained of identity fraud and theft in 2017 alone, with an identity stolen every two seconds. Fraud on this scale can occur via everything from forged documents to hacking into personal files. By keeping social security numbers, birth certificates, birth dates and other sensitive information on a decentralized blockchain ledger, the government could see a drastic drop in identity theft claims. Here are a few blockchain-based enterprises at the forefront of identity security.
A major complaint in the shipping industry is the lack of communication and transparency due to the large number of logistics companies crowding the space. According to a joint study by Accenture and logistics giant DHL, there are more than 500,000 shipping companies in the US alone, causing data siloing and transparency issues. The report says blockchain can solve many of the problems plaguing logistics and supply chain management.
One of the most surprising applications for blockchain can be in the form of improving government. As mentioned previously, some state governments like Illinois are already using the technology to secure government documents, but blockchain can also improve bureaucratic efficiency, accountability and reduce massive financial burdens. According to the New York Times, blockchain has the potential to cut through millions of hours of red tape every year, hold public officials accountable through smart contracts and provide transparency by recording a public record of all activity.
Mediachain uses smart contracts to get musicians the money they deserve. By entering into a decentralized, transparent contract, artists can agree to higher royalties and actually get paid in full and on time. Streaming giant Spotify acquired Mediachain in April 2017.
BurstIQ’s big data blockchain contracts help patients and doctors securely transfer sensitive medical information. The smart contracts establish the parameters of what data can be shared and even displays details of personalized health plans for each patient.
Section 4 – Follow the Money
ACTIVE PATENTS & PENDING APPLICATIONS
Blockchain Patent Applications Filed (as of 10/1/2019)
COMPANY ACTIVE PATENTS & PENDING APPLICATIONS
IBM | 252 | $252,000,000 |
Alibaba | 93 | $93,000,000 |
Bank of America | 81 | $81,000,000 |
Mastercard | 73 | $73,000,000 |
Wal-mart | 63 | $63,000,000 |
Accenture | 52 | $52,000,000 |
Intel | 46 | $46,000,000 |
Nchain | 32 | $32,000,000 |
Coinplug | 29 | $29,000,000 |
TD Bank | 28 | $28,000,000 |
Winklevoss IP | 13 | $13,000,000 |
Capital One | 12 | $12,000,000 |
Dell | 9 | $9,000,000 |
Vijay Madisetti | 9 | $9,000,000 |
TD Bank | 9 | $9,000,000 |
Blockchain Asics | 7 | $7,000,000 |
200 countries could potentially cost about $1,000,000 for issuance and filing
Yes Rich Got Richer During COVID-19
Section 5 – Talent Moving to the Blockchain & Cryptocurrency
Billionaires Cashing In On Bitcoin’s
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Brian Armstrong Net worth: $6.5 billion -
Sam Bankman-Fried Net worth: $4.5 billion -
Chris Larsen Net worth: $2.9 billion -
Michael Saylor Net worth: $2 billion -
Changpeng Zhao (“CZ”) Net worth: $1.9 billion -
Tyler and Cameron Winklevoss Net worth: $1.6 billion each -
Barry Silbert Net worth: $1.5 billion
Adrian Xinli Zhang was climbing the ranks at Deutsche Bank AG in New York when he discovered Bitcoin. The 29-year-old made enough money trading digital currencies in his spare time to leave the German bank in March, the same month he was promoted to director, people familiar with the matter said. Click image for article.
Section 6 – What Has Some Cryptocurrency Been Up To?
Section 7 – How is Cryptocurrency Used?
Section 8 – How to Earn Cryptocurrency
- Trading on DigieBot
- Coinbase
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- Brave Browser
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- Airdrops.io
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