Blockchains: how can they be used? (Use cases for Blockchains)
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- Опубликовано: 28 май 2018
- We've all heard about Blockchains but how can they be used in the real world? How can we apply them? What problems can they solve?
Well, in this video I'll give you 9 examples of use cases. Let's go!
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As soon as I heard of this blockchain stuff it crossed my mind that this is needed to be implemented in government money tracking system (especially the one of developing countries) to prevent corruption and ensure that everything that concerns public interest (read ''everything that targets taxpayers' money") is being kept public... speaking of republics and democracies, this stuff is real deal
I would rather see what banks are doing,
I agree, tax money should be tracked by everyone
It's only a matter of time before people get ways around it
@@abiolajimoh8590 How?
@@antonfranzen9931 You could buy a bunch of gold/silver with the government currency and barter for things using that to get around the tracking system. Or you could buy privacy crypto currencies like Monero and send money over the internet using those currencies.
You gave me the piece I was missing. Most people talk about the back end, the blockchain, but this talks about the user interface. Thank you
You produce really great stuff, simple and in layman terms in a short time.Kudos!
You are so good at explaining things. Clear and concise in one go.
You always made complicated thing explained in simple way. Super love your channel
So would it be right to say that, as a rule of thumb, blockchain tech can be used wherever two parties are involved with different (or even opposite) goals, but reliant on a single crucial resource/knowledge that neither can trust the other with? I feel like that would be a good thing to keep in mind for thinking about starting a blockchain-based business.
Simple and comprehensive as expected
I need your help to create one application for my idea and I was looking a person like you to have a deep knowledge about Blockchain.
I am waiting for your response to discuss further thanks
عاش يا دكتور
The only problem i see, with shipment for example, is that most of the time, the officers in charge don't scan the packages when they pass some distribution centers, the human factor could be a huge problem for some of these applications :)
Another great video! happy midweek and keep on programming!
This can also be solved with technology. We could put RFID stickers on each shipment and read them once they enter the facility. Also tracking richt now is pretty reliable, no? Packages just go on a conveyor belt and are automatically scanned and tracked.
You made it so easy to understand, tha you for this video
good job man! nice content flawlesly explained. Suscribed!
Very informative video. Looking forward for more. Thank you so much.
Explained very nicely !!
I first time listening such informative video. Very well done bro keep sharing informative video.
Amazing content, simple as well as great..!
thanks for the creator for making such a quality content
Very good explanation, thx
So nice, good explanation
Thanks for the video. I came across it while doing research for a book and it is a great explanation of the applications of blockchain technology.
Congratulations ! I understood many things about decentralized technology in a few minutes ! Beautiful simple graphics .. may I ask which software have you used for the graphics ?
These videos are first class! Would love to see one on edge and mist computing
Nice video and gives some good ideas of business use cases. Just one comment however not all blockchain solutions will be public and open. Depending upon the actual business need they could be open or closed. Also they could be public or private. There's little consensus (pun intended) around terminology but I'm using; open/close for the readability of the data and public/private to define who can write the data. Ethereum technologies tend to offer open / public solutions and Hyperledger private / closed.
Best Blockchain Explanation on RUclips
Super Duper Phenomenal presentation
Very well explained
great video... thank you for the explanation.
what program do you use to create videos like this?
This is a really nice explenation
Amazing thank you so much
Project very well organized and will certainly be very successful
Well, in my one-year+ of involvement of this topic, the best use of blockchain (or similar) technology seems to be for money. As this video points out, there may be other uses, but in its use as money, I think it could change the course of history (a little).
(I recall daily the episode of the Three Stooges, where their elusive fortune was based on the perfection of a pen that writes under whipped cream.)
Next thing you know, we'll be putting the agenda for next week's bingo game and pot luck dinner on a blockchain.
I liked the idea of smart contracts
Good introductory material helps to learn how to explain BC applications to others in 5 minutes. Thank you!
Thanks!
Verry Good
Sad for not being able to press LIKE more than once!
From my heart, Thanks
My favorite is Everscale, what I see is it can do voting faster and safe, you can check it to verify
its funny bc a month ago I was wondering if there was a digital way to "timestamp" a document to be used as patent evidence, know I found this!!! lol
This is a really interesting video
Are you sure about that?
thank you
Great vid as always. And how can those blockchains communicate and transfer data with each other? Through interoperability. Like the XRouter from Blocknet. Would love a explanation video about that.
Right now blockchains cannot really communicate with one another. They have no notion of what happens in other chains. That is something that people behind Cardano for instance try to solve. Thanks for the suggestion, could indeed be an interesting video!
i was thinking the other day how we could use blockchain tech to verify the voting system or use it as a notary. but what about package tracking and shipment tracking? perhaps we could get a more realtime updated tracking on such things? why stop there? GPS even? idk where we are going. so far crypto has been changing the financial world. maybe little by little we can get everything decentralized and give less power to the governments and big banks etc. but then again i have absolutely no idea what im talking about.
I have a question. Are they suggesting that we can track the provenance of food based on its packaging by scanning it? What if someone copies the package and it shows the information of the "real" food but the content is "fake"? How can we prevent that?
Great explanation
Nice video 😉
Great work!
The for the explanation! Great video!
Oh my! This technology needs to be incorporated with Statistics. Why? After learning it, I understood that you can pretty much make a statistic say what you want it to say by the collection of data or the presentation of such said data.
Blockchain for Electronic Components Project: Focus on the HTS 8532 and 8533 Because it includes Conflict Minerals and Endangered Species.
This video is really helpful , Savjee haha. what about analyzing Airtrade project?
Great explanation! Keep up the good work! Also, what about car insurance against theft when your car is still? What if you're in the supermarket, car is in the parking lot and somebody bumps into it? Not insured because it's not driving?
Hah good point! Although if someone bumped into your car and you have no proof, I doubt the insurance companies would compensate you for the damage. But that's beside the point. You could indeed create a second type of insurance contract to detect a bump to your car when it's parked.
Thank you! Really helpful! Subscribed!
Well about the stamp thing: You could also just hash the document and publish the hash (and a title or smth) public like on twitter, the newspaper ...
First of all there would be too many to publish on the news paper
Second that is not the purpose of Twitter or newspaper so having a network dedicated to that would be better
Not to take away from your stellar videos, for which I am grateful, however reducing some reverb in your voice and/or using more sound dampening techniques would give your voice more direct power, hence greater effect. 😊 Please don't hear what I'm not saying. Your videos are awesome and some of the most helpful. Just giving some perspective on the impact of audio as someone with a background in this area to help you impact more people. Blessings 😊
This is an older video of mine. I have a much better microphone now, so things are improving ;)
Thank you for this video. It is very informative!
Do a video on Hyperledger
Since "Agora" comes for the greek term for "public square", "gathering space", "assemply", it should be pronounced "Agorà". Otherwise it sounds like the Portuguese word for "now", which is less likely to convey a sense of public participation in a vote than "public square".
ἀγορά
Your videos are very helpful. Thank you
Effective presentation...i need to listen from you about digital voting using blockchain
Nice video, simple explanation.
I don't understand the example at the artist part. E.g. I don't think that Spotify couldn't track what their subscribers are usually listening to. They could calculate percentages of that and cash out to artists based on the calculated datas. Where does the blockchain come in, and why is it coming in?
i want a brief video on block chain mapping with example of any product .humble request
Quick question: for the examples (such as the food example) in the beginning - when smart contracts haven't had been mentioned yet in the video - wouldn't we also have to create smart contracts? In the case of the food example: each piece of food e.g. a steak when created is identified via smart contracts on the blockchain. Thanks a lot in advance!
It sort of depends on the implementation.
Smart contracts are not a requirement in a blockchain, it is just an additional feature to it.
When he was talking about the steak, he was referring to being easily capable of tracing payments made to an address.
Companies could already do that with records of transactions in their database, but now all of it would have publicity (if the blockchain is public) or since the idea is to keep a record of who purchased the product, another entity sends a message to everyone who bought meat in the last 2 weeks.
the very beginning of this video nails it-that’s why i am here.
I love this channel and i have made a research paper and it was a primary source to know about blockchain
Great to hear! Also check out the sources that I consulted for my research. I publish them for each video and they could inform you even more ;)
Simply Explained - Savjee yes sir i would really love to do that , thank you so much for sharing this beautifu and informative l cotent
Blockchains are so exciting!
Favorite would be the medical information protected transfer
so the alternative to buying servers to store data we have blockchain?
Voting should be block chained... Government should develop voting app which runs in sand box environment completely detached from host environment.. Deploy such app on smartphone, Mac and windows.. Can it be possible?
im interested in BC voting systems...very interesting
About voting system, what about a combination of IPFS, ZK SNARK and blockchain system? All problems might be resolved
I understand the odometer example but I don't understand the effectiveness of the food-tracking or shipment-tracking example. Because when nodes/participants in the blockchain "verify" the "transaction" they don't necessarily know what has actually happened - whatever the "transaction" is, just "becomes" when its verified and consensus is achieved. So isn't there still a risk here? Yes, the blockchain may be a faster tracking tool, but it doesn't make sure, that the initiated entry is correct in any way, am I right? If i'm right, I don't see it solve the presented problem = proving where it (e.g. the food) came from. Because that all depends on the first entry.
hey i wanna to study smart contract using blockchain technology in construction projects what shall you recommend me to study ma tesis paper on this technology
VeChain and CarVertical baby!!
Good
Hey on the application regarding tracking food, I don't understand why you need to use blockchain , all it needs is constantly tracking it - it doesn't require publicly broadcasting the data. So why do you require blockchain? Please correct me if I'm wrong.
Fast food restaurants could maintain transparency with its customers regarding the quality of the ingredients used, I suppose.
3:00 the significance of this rings totally different after 2020...
Still, doubters would still find a way to doubt, I'm sure.
Another great use for the blockchain going forward, would be for fact-checking.
Imagine having it all securely validated... it would be a great solution to derail the spread of misinformation, that become practically viral (more so than the actual covid virus) after the way social media platforms made it so easy to spread.
3:25 What about computing power voting? The cyberpunk we deserve!
Hi can you simply explain Ethereum Dapps and decentralized autonomous companies (DAO)
Great Video. Explained effortlessly. The best application would be Food industry tracking.
How could i use blockchain to support marketing campaigns? Ex. promoting a new music release.
The only thing I still don't get is how/why these different blockchains get represented by coins that you can buy. Like VeChain does the shipping blockchain like you were mentioning, but what does that have to do with "currency"? If this was the next video, that'd be amazing!
They mostly add that element to raise money and to give an incentive for people to join and secure their network. Could make for a next video, yes! Thx!
Simply Explained - Savjee I guess that makes sense... hmm. A video on it would still be helpful if you want to.
i cant believe you only have 85k subs
I know right! Spread the word ;)
What is Blockchain payment ?
It just seems like a lot of these use cases can be done by a good vlookup and solid integration. These still don’t feel like they justify the advanced blockchain or the sheer massive computing infrastructure needed to support it. Traditional cyber security it’s still probably the way forward for the next 50 years.
You are dead wrong haha.. Blockchain is the real deal.
Clarified a lot! But everyone talks about Blockchains as literal things, when, if I understand correctly, Blockchain is a kind of data protocol, no?
Im confused about how smart contracts allow musicians to get paid based on the amount of listeners the get, I thought thats what spotify does already? How is that different?
Hello
Your videos are very beautiful and attractive
Please create a video about ico
Thanks
For railways verification and timing it will reduce accident in India
Blockchain technology will only be implemented if it’s spectacularly better than the thing that it’s replacing. With the exception of things requiring public transparency like voting or use of public funds, blockchain isn’t actually better than a well designed and maintained data infrastructure using convention technologies. Blockchain is a very specific piece of technology that can be made to do a lot - but not made to do a lot well.
Education
A Blockchain is a linked list and doesn't mean much unless you specify:
- is it private or public, permissioned or permissionless? (in case of private and permissioned a DB is always a better choice)
- what is the consensus mechanism?
- who are validators?
- does it represents a digital asset that "lives" inside the blockchain or is it a representation of an external asset? in this last case how do you manage counterparty risk?
If you answer these questions you'll see that some of your examples are not realistic
Can you say (specifically) which examples aren't realistic? The parameters you mention matter when implementing or choosing a Blockchain. Not when you try to explain possible applications.
Notarization for instance is a notable use case especially on the bitcoin blockchain (the most secure). Food tracking and car mileage registration for instance are not. Answer the questions above and to the question who is in charge to send transactions? So far you have not explained a solution but only an approach: use blockchain and IMO it does not work for some examples.
The parameters I mentioned matters because when you propose a solution you have to explain why it is better than others.
Food tracking is perfectly doable. Put a tag on each piece of food and have companies scan it when it enters/leaves their facilities. It gets harvested? Farmer adds that event to the blockchain. Arrives at a shipping company, they add it as well. Arrives at the store, they add another event. Customer buys it, another event.
The used consensus algorithm is of no importance. You can use PoW or PoS, doesn't really matter as long as the chosen algorithm does in fact generate consensus amongst everyone on the network. The "validators" or "miners" in this example are every company who is involved in the process. They want to make sure that the data is not tampered with (so that the store cannot accuse the shipping company of bad practices for instance).
How is this better than the regular food tracking system? Well it's a LOT faster! Check out some of my sources ;)
"The used consensus algorithm is of no importance." Are you serious? It must be granted that all participants in the supply chain do not have to trust each other (otherwise why a blockchain?)
Could HackMeNow be a good name for this blockchain? Have you heard about the numerous 51% attacks on some altcoins in the past few days?
Who pays the extra effort of validators?
Scanning a barcode and send this data to a blockchain is enough for you? What about temperature, humidity, hygenic conditions, ...?
Who guarantees that the barcodes are not counterfeit?
What happens if you discover an error? Would you suggest to use an editable blockchain?
I have only seen 51% attacks in a few coins. There are hundreds to choose from that do a better job that those that have suffered a 51% attack.
If companies adopt already existing cryptocurrencies, the problem of paying to validators is solved.
Scanning a barcode is just an example. All the other things that you have mentioned depend on the sensors available and the willingness to track something. Maybe the company just wants to know where the package is. Why would it then care about hygienic conditions? Any data can be put on the blockchain including temperature, humidity, hygienic conditions.
What do you mean by counterfeit barcodes? How many problems with barcodes have you seen in supermarkets now? Why would it be different? Don't get this question...
What kind of error are you talking about?
where are these blockchains usually used ?
I read that Blockchain can be used to distribute electricity. But how ?
In water bottle identity sell out at in populous areas i.e. hospital religious place, railways, bus stand
I can truly attest that when the Lord said "let us create inhabitants on the earth in Our Image" is indicative of the very smart, intelligent, knowledgeable creative inhabitants who have occupied this Planet since then. History is replete with the greatest minds who ever existed and do exist today, minds as the Gods would have them. Simply astonishing to be made aware of all the developments in technology we have today, and what to expect into the future. There is so much I do not know, because of the fast rate of new discoveries and applications, it is hard to keep up, and this Block Chain technology is one of them. Very informative video though. Thanks.
Very helpful video. One question though, regarding the car odometer example. You mention that by replacing the report method of the car mileage with a smart odometer which would send the data to the blockchain network where it will be stored as immutable data. My question is, if the odometer itself is "tampered" and reports half of the distance then we have not really gained anything. More like an illusion that the guys car mileage is legit. My understanding is that blockchain is about data integrity and not about data validity. New to blockchain, so am I missing something here?
You're correct! The data inside a blockchain is tamper-proof, but it might have been tampered with before. In case of an odometer, you could protect the device in various ways and even detect tamper attempts. A bit like what electrical companies do with smart meters.
@@simplyexplained Got it. Thank you for your time!
Please can to made new videos about smart contracts thanks bro regards from Colombia sud-America
I'll think about! Thanks!
Thanks for the fish
so, is this now the new addition to the Data Structures family ?
Most of these use cases seems more like a monitoring technology that messes up with people's privacy. Sounds scary
Savjee I've One more question.
Can Nakamoto generate more bitcoins??
The generation of bitcoins is solely reliant upon the underlying algorithm, and that algorithm will slowly release bitcoins to miners up until the 21 million bitcoin cap is reached, I believe in 2024 or 2032 or something. So yeah, nobody can create anymore bitcoins.
Is the environmental cost of using these applications worth the positive of the use case?