How Energy Works on the Blockchain and Why Entrepreneurs Should Pay Attention

Most of us can’t control where our power is coming from, yet. But, with blockchain, that day is coming; and businesses will benefit. November 7, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. The UN’s Intergovernmental Panel on Climate Change recently issued a stern warning: End humanity’s dependence on fossil fuels within a decade or become directly responsible for not halting irreversible climate change. Related: #5 Ways Through Which Biotech Entrepreneurs are Going to Enhance Human Lives Clearly we have to pay attention to climate change. And, here, one of the biggest areas we can change is the power sector; that’s because, currently, 33 percent of the world’s power comes from oil, while coal is responsible for 28 percent, and natural gas, 24 percent. Cutting out fossil fuels and switching to cleaner, renewable sources of energy could do a lot to impact climate change, but we may […]

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One of the Biggest Issues Facing Blockchain Is Its Lack of Ability to Scale

Here’s what you need to know about the problems facing the technology backing Bitcoin and other cryptocurrencies. August 28, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. In order for the world economy to continue to grow, we need to develop digital infrastructure to sustain the speed and volume in which we share information. Data infrastructure needs to be scalable and deployable as the needs of our digital era continue to evolve. Even though blockchain is somewhat the “new kid on the block,” it has excited the world of business. According to a survey carried out by Gartner, 66 percent of the respondents said they believed that blockchain is a business disruption and 5 percent were willing to spend over $10 million on the technology. Blockchain has many uses and implications; however, the first mainstream application we’ve seen is through cryptocurrency. But the initial design of cryptocurrencies was not built for widespread […]

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3 Industries Blockchain Entrepreneurs Will Change for the Better

Here are promising markets for any entrepreneur looking to dive into a long-term blockchain project. August 3, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. With the emergence of blockchain technology, innovation seems far from over, and as new processes and systems emerge, entrepreneurs should be looking for market pain points in need of innovative solutions. Related: How Blockchain Is Poised to Disrupt the Gig Economy Of all the industries that can benefit from blockchain solutions, three stand out. Transparency and traceability in supply chain management Traceability, transparency and authenticity are the three key pillars of efficient logistics. However, the present day standard databases that are used to store the key information about the goods in transit are neither efficient nor foolproof. The records can be easily tampered with and manipulated, information is often not available or updated in real-time, and there is a serious lack of […]

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We Need to Start Educating Students and Hiring Teams About Blockchain. Why That’s Crucial.

Blockchain’s global market is predicted to hit $60.7 billion by 2024. What’s your H.R. team doing about it? July 27, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. It is often said that we are going from the internet of things to the internet of value and that by applying blockchain technologies, the rate of data propagation will become instantaneous. Related: Blockchain in Education can do Wonders. Here’s Why. Various global networks — proprietary and distributed — are changing the way we deliver value, whether the use be monetary or an offer of an agreement or vital information. Technological advancement across our digital planet continues to occur at an exponential rate. In this context, blockchain technology and distributed ledger networks have constituted the latest revolution in information infrastructure, akin to what email and the internet were in the 1990s. Blockchain and distributed ledgers, in fact, are transparent databases that allow network participants to […]

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Blockchain Could Be a Powerful Tool for Shrinking Pervasive Global Money Laundering

The world’s wealthiest people shield as much as $2 trillion annually from taxes. Blockchain’s transparency could make it a lot harder. July 19, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. Few instances in history have altered our perception of the global economy like the release of the Panama Papers in April 2015 — 11.5 million leaked documents detailing instances of offshore money transfers and tax avoidance from a staggering 214,448 entities in more than 50 countries. In an instant, the curtain shielding hundreds of thousands of potentially illegal financial transactions was stripped away and the general public realized our offshore financial ecosystem is not as ethical as we once may have thought. The Panama Papers are a wake-up call that fraud is an elusive and precarious threat to global commerce. Armed with the latest technological advancements, bad actors continuously find new, cunning ways to circumvent […]

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Basic Blockchain Lingo Every Entrepreneur Needs to Know

Do the terms ‘proof-of-stake,’ litecoin’ and ‘mining’ mean anything to you? If not, keep reading. July 6, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. With all the buzz lately around blockchain technology, it can be tough to keep up. Given how fast this industry is growing, new terms are being introduced on a regular basis, and if you have wanted to learn more about crypto, the blockchain and what it means to “HODL,” then here is a short list of essential vocabulary to digest. Related: Just What the Heck Is Blockchain? Watch This Explainer Video. Blockchain If you’re going to talk about blockchain, you have to know what the blockchain is first. Blockgeeks explain that blockchain is a distributed ledger of digital information. Created by an unknown individual named Satoshi Nakamoto (probably a pseudonym), the original use-case for blockchain was the digital currency Bitcoin. A significant benefit of […]

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How You Can Build a Career in Blockchain

Hint: It won’t involve a college degree. June 25, 2018 6 min read Opinions expressed by Entrepreneur contributors are their own. In the past 18 months, blockchain has leaped onto the world stage and presented itself as the next-generation solution for many of the tech sector’s most pressing problems. It’s received influential endorsements from government leaders, industry titans and ambitious entrepreneurs in an unprecedented acknowledgment of the technology‘s prowess. Related: The Cryptocurrency Job Market Is Exploding (Infographic) To be sure, they aren’t wrong. Blockchain, which was first developed to account for the popular cryptocurrency, Bitcoin, is now one of the most dynamic technologies today. As The New York Times wrote back in January, “The Bitcoin bubble may ultimately turn out to be a distraction from the true significance of the blockchain.” All of this enthusiasm has created a surging demand for blockchain-related jobs. According to Upwork, a global freelance exchange, blockchain-related skills […]

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Using Blockchain to Achieve Gender Equity

Just as social media connected a wave of women to raise their voices against sexual harassment and assault, blockchain can connect women together for global movement toward economic empowerment. June 21, 2018 4 min read This story originally appeared on Ellevate What is blockchain, exactly? Blockchain is often associated with bitcoin, the cryptocurrency it enables, but blockchain is far more than a cryptocurrency enabler (it has been used for medical records, copyright protection and voting records). At its core, blockchain is made up of blocks of transactions. Once those transactions are finished, the blocks are added to the chain. Each block is secured using cryptography. While blockchain is largely a male-dominated industry, it can be used as a tool for gender equity and inclusion. Related: 6 Tips for Building a Strong Support Network from Unlikely Sources How to use blockchain as a means to gender equity Just as social media connected a wave of women to raise their voices […]

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3 Lessons the Big Brands Hopping on to the Blockchain Can Teach Entrepreneurs

By mirroring strategies undertaken by big brands, startups can find ways to offer unique services taking advantage of the blockchain’s beneficial attributes. June 15, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. With the blockchain bandwagon gaining momentum, it’s easy to argue that the increasing number of large companies testing the waters is simply a money grab rather than a decision to dabble in innovation. Related: 7 Myths That Fuel Blockchain Hysteria For these brands, blockchain technology, which has commonly been linked to the startup ecosystem, may seem like a somewhat unnecessary add-on that is largely unrelated to core business processes and practices. Moreover, some of the high-profile public blockchain initiatives, like those by Kodak and Long Island Iced Tea (since renamed Long Blockchain Corp.), have flopped hard enough to make observers doubt the applicability of the technology to large companies (as  this Fortune article documented). Even […]

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How Blockchain Technology Is Helping Remodel the Private Equity Industry

A number of industries are benefiting from blockchain technology — including private equity. May 25, 2018 5 min read This story originally appeared on Due Private equity investment funds have made many people and institutional investors billions. However, structural issues prevent all parties from experiencing the full benefits of this powerful investment vehicle. Real estate investment has proven inaccessible to many investors across the marketplace. It has required massive initial buy-ins and/or intimate market knowledge for profitable participation. Private equity today Historically, private equity funds have been a reliable and steady source of income for investors and fund managers. Unlike public companies, a limited number of in-the-know partners hold private equity. Shares can’t be bought and sold on the stock market. Now, this is where shareholder governance and reporting are significantly easier. Unlike venture capital, private equity is traditionally used to invest in established businesses seeking to expand or restructure. Therefore, a […]

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Here’s the Real Reason You Should Embrace Blockchain

Ignore Bitcoin for the moment: Distributed-ledger technology is most useful for assuring quality within supply chains. Here’s how to incorporate it. May 10, 2018 6 min read Opinions expressed by Entrepreneur contributors are their own. The basis for all business is supply and demand, but recent events have shown that supply can be more fragile than we might expect. For example, KFC’s chicken shortages in the U.K. forced two-thirds of its 900 restaurants to close while the company worked to repair its delivery, via DHL. (And this was then followed by a gravy shortage.) Ultimately, it turned out that those U.K. events were because of human error, not any lack of chicken. And that revelation only reinforced how critical excellent record-keeping and accountability are for maintaining supply chain integrity. But help is on the way: Fortunately, the supply world will soon be revolutionized by the innovative solution of blockchain. Blockchain: the […]

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Blockchain Is Gaining Ground in Video-Streaming. Here’s Why.

Blockchain is bringing about Internet 3.0. Are you going to be involved? May 9, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. The internet revolutionized the way the world operates, stays connected and communicates — that was Internet 1.0. Internet 2.0 then arrived, to overhaul static web pages, making them more dynamic, as well as strengthen mobile applications and the responsive web. Related: Omar Kassim’s Esanjo Uses Blockchain To Reimagine Real Estate Investment At this point, today, we are entering the next phase — or Internet 3.0, which many experts are calling it (check out this CoinDesk article). Internet 3.0’s central factor? Blockchain technology, which seeks to decentralize everything from banking to healthcare to real estate. Video-streaming is poised to play a major role in the coming Blockchain world: As online content has exploded, video-streaming has become the de facto way to watch movies and videos […]

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No Bosses, Banks or Retirement)

“You have to unlearn everything about ‘I’m the boss, I make the rules.’ In the blockchain world, nobody makes the rules,” he says. May 8, 2018 14 min read Politics, race and religion could all be fair game for dinnertime conversation with John McAfee, but if you’re a blockchain skeptic, you might want to keep your mouth shut. McAfee, the computer programmer and businessman behind the once-multibillion-dollar software company that bore his name, fiercely believes that cryptocurrency — as well as blockchain, the technology that allows it to work — will completely upend life as we know it. Blockchain is a platform that securely verifies transactions and identities through a network of multiple decentralized records. It’s a new way to interact with others because the platform can both securely verify who you’re doing business with and track the origin and path of whatever it is you’re exchanging. This is true […]

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4 Everyday Industries Blockchain Technology Is Changing

May 7, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. We are currently in the midst of the second dot-com-type boom — this time it’s “the blockchain boom.” Just as the internet changed every aspect of the business world, many believe blockchain technology is the next breakthrough. Not only is blockchain altering industry norms, but it’s also challenging organizations to re-think how and why they implement new projects. The decentralized philosophy behind blockchain technology is flowing into team structures — for the better. Ivan Goldensohn, CMO of Dispatch Labs, a blockchain architecture which facilitates the development of secure, decentralized, peer-to-peer applications, believes that taking a decentralized approach to leading newly-formed blockchain team efforts is integral to success. Goldensohn says, “I’m all about autonomous elements on my team. By establishing trust and granting autonomy, people tend to be more creative, more engaged and do better work.” As organizations […]

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8 Influential Women Making Headlines in Blockchain

Just because the number of women in technology-related fields has always been dramatically lower than that of men doesn’t mean that things will stay that way. April 17, 2018 4 min read Opinions expressed by Entrepreneur contributors are their own. A few weeks ago, I wrote a post about nine influential women in blockchain who received a lot of praise and positive feedback. So I decided to write a follow-up post with a new list.  The latest tech boom has revolved around blockchain and cryptocurrencies. And while this brand-new field is still heavily dominated by men, women are quickly closing in and making big names for themselves. The blockchain space, in fact, is the perfect place for women who want to make a big impact to get involved. Related: Here Are the Best Tech Companies for Women to Work Here are eight women currently crushing it in the blockchain and crypto space and […]

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How Blockchain Technology Is Making Other Industries More Efficient

The ways blockchain is transforming business and technology is alarming. March 30, 2018 5 min read This story originally appeared on Due The ways blockchain is transforming business and technology is alarming. It seems like only a year ago only the most committed early adopters of cryptocurrencies and blockchain had heard of the tech. There were fewer who had accepted it. However, the technology is maturing. It’s gone from simple store of value to quickly building value. In fact, it’s making many industries more efficient. This includes startups who create and profit from the technology. Also, blockchain is helping numerous businesses be safer, quicker and more efficient.   Related: The Best Business Credit Card for Every Type of Spender Artificial Intelligence  It’s no secret that data is new the oil when it comes to value. This is one of the main examples of how blockchain is making industries more efficient. Companies like Google and Facebook exchange free […]

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5 Blockchain Innovations Wall Street Is Watching in 2018

Financial professionals need to pay attention to how blockchain is impacting their industry. March 23, 2018 4 min read This story originally appeared on Due Blockchain technology was one of this past year’s biggest stories. For example, Bitcoin, the pioneer of cryptocurrencies, closed out 2017 at nearly $15,000. As Bitcoin’s popularity has grown, more blockchain innovations and cryptocurrencies have emerged from the shadows. Now, it’s nearly considered mainstream. Since then, investors and fund managers have flocked to blockchain for fintech. Related: The Best Business Credit Card for Every Type of Spender However, blockchain is more than just something to drive digital assets. That’s why financial professionals need to pay attention to how their industry is changing. Now, here are five ways blockchain innovations will reshape the financial system. 1. Paying with cryptocurrency First, one of blockchain’s most exciting applications is its ability to facilitate financial transactions in a very different […]

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Stop! Before You Launch an Initial Coin Offering, You Need to First Build a Community.

Consumer communities built by Blockchain businesses can give novice consumers the resources they need. to connect to those already familiar with the product and concept February 23, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. The blockchain world is, or at least once was, inherently exclusive. The reason is that, since blockchain’s inception,  entrepreneurs, investors and consumers outside the development community  have struggled to fully grasp just how big the prospect of a blockchain world is. Chalk that struggle up to the overshadowing of blockchain by Bitcoin and the persisting mythology around that currency. Related: More Than Just Bitcoin: Blockchain Has Value Across Multiple Industries In fact, it wasn’t until this past year that the world at large began to understand the potentially huge implications of blockchain, both financially and socially. Today, up-and-coming blockchain applications have an advantage that others who vied for initial coin offerings (ICOs) in the past […]

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