A few more Blockchain thoughts, and a potential idea…

One of the things I have been looking at a lot recently is the reality of Blockchain. Not Bitcoin, that particular cryptocurrency makes me nervous. Anytime something goes from worth nothing to worth millions in a very short time, then frankly it is an equal amount of time for it to go back to zero. Just ask all the people holding Dutch Tulip futures or other financial fads that rose quickly in value and then took real money with them as they quickly rode down the no-value pipeline.

Blockchains offers the opportunity to structure financial transactions in such a way that they are secure. Secure in that modifications within the chain have checks and balances, not the least being that there are multiple distributed nodes, so if a change isn’t expected it can be examined. The other side of Blockchain is that it offers much more clarity around the next tier process of validating information. I posted a few days ago about the concept of having news, and other information pushed through a validation Blockchain. The reality of the impact of Blockchain is still in the art of the possible, but not in the art of now. As we move out of the possible and into the new, it is important to remember that where we are now, isn’t where we will be when all is said and done.

Today the Blockchain focus is in the world of financial transactions. It, Blockchain, offers a more secure structure for those transactions. From contracts to actual money changing hands it does, in fact, offer some interesting potential. I suspect that there are some other areas where the security capabilities within Blockchain will emerge as value-adds. One of the things I think might be interesting is the reality of creating a Blockchain structure of IoT devices. Using Blockchain as the basis of the security of IoT devices. Each IoT device a node in a distributed Blockchain. Just something that Blockchain may enable, tomorrow!