While talking in an interview with a computing magazine, the senior executive at the tech giant from South Korea-Samsung said that decentralization is much more important than blockchain. In today’s blockchain news we are reading more about his opinions on the blockchain.
When he was asked what he thinks of the future of blockchain, Ricardo J. Mendez who is now a technical director at Samsung NEXT which is the innovative technology branch of Samsung, he said that he believes that the market will consolidate in the upcoming year but couldn’t stress enough how decentralization is important and also how to reshape the centralized structures.
On the importance of blockchain he explained:
“Without question. Blockchain is just one more tool, and one that can help in decentralized contexts, but a tool is always less important than the goal.”
The majority of the bigger companies are looking at the blockchain technology as a method for solving the key problems in any industry such as costs, paperwork, transparency and much more. However, Mendez says that decentralized systems are rarely mentioned and their benefits are often overlooked.
This is why Samsung wants to focus on other aspects of the blockchain phenomenon. Mendez also highlighted:
“You need only look at most cryptocurrencies, which are completely decentralized but also 100% public – their pseudonymity only needs to be broken once. Peer-to-peer approaches require you to broadcast your activity to peers, so they need an extra privacy layer (like a VPN or mix network). This is why, as an industry, we need to get better at explaining to users the trade-offs of different approaches.”
The tech giant is investing in blockchain technology and has a lot of interest in crypto-based experiments. Last year the company even revealed that they are looking for a UK patent for a crypto wallet.
Blockchain In Healthcare To Reach $1.7bn By 2026: Report
"The Asia Pacific is expressing the fastest growth for the blockchain in healthcare market due to the presence of huge opportunities and the presence of fastest growing economy. Japan is an important blockchain in healthcare market, with a mature market, large population, completed infrastructural facilities and high-leveled skilled labor. During last few decades, Japan has emerged as a country for the origin of new and advanced technology. The Japanese government has supported a number of companies to introduce the new technology. Japan accounts for roughly 40% of the global market for sensors, which is a central component of IoT technology," the report notes.The latest cryptocurrency news show that the rate at which blockchain is adopted is more than just impressive.
Tor Internet Privacy Project Launches BTC Donation Fund
‘’I will always remember how @BtcpayServer facilitated the #weareallhodlonaut fundraiser. Now they are powering a super important fundraiser for @torproject If you value privacy and online freedom, please consider donating!’’The official website noted that the funds which will be gathered from the campaign will go directly to the Ledger Nano S Wallet address of the project with no fees or intermediaries. There is also a video on the website which explains how Tor works and why people should use it in order to be safe on the internet. The advantage of donating in BTC is that there are no rounded up figures that you must donate so everyone can donate what they can afford. There are no banks or PayPal like intermediaries as well. The team is on their way to reach the $7,000 goal after more than 200 contributors donated to the project. Two of the contributors even donated more than a thousand dollars in bitcoin. The awareness through media exposure will also help the campaign since the compassion or this project is really high. In only one day, 65% of the target was already gathered. BitPay also tweeted a couple of hours later that a third of the donations arrived with the help of the Lightning Network:
‘’36% of donation amount via lightning network. Quake sounds played in the crowdfunding is making 10 donations of 5 USD via lightning way more satisfying than making 1 donation of 50 USD. Only possible via lightning!’’As noted in the best cryptocurrency news sites, the company is a non-profit one and relies only on donations.
Siemens Wants To Use Blockchain Tech For Car Sharing
"It's not only inconvenient for the drivers, it's inconvenient for the companies because fueling cards get stolen [and] they get sold on the internet [...] That's an example where, in an industrial context, you need something, a technology, that brings together different participants that [don't] fully trust each other [...] That's exactly where blockchain can add value."Siemens is also looking into other areas within the transportation sector for blockchain solutions. As the Siemens Corporate Technology plans show, the company has presented on a possible blockchain solution for "blockchain based smart parking" at the Bosch 2019 Connected World conference. As many best cryptocurrency news sites shared, Siemens is also considering blockchain use cases for supply chains and manufacturing. The company is apparently leaning towards using a permissioned blockchain. However, they are still in the testing and discovery phase and are still reportedly exploring the viability of such use cases.
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