Ethereum Founder Buterin shows use cases of the Blockchain from the practice
Home News Ethereum Founder Buterin shows use cases of the Blockchain from the practice
Marcel Knobloch –
Totz of the downward trend and the consequent disappointment of many investors is progressing on the adaptation of the block chain technology. The founder of Ethereum has shown in a true “Twitter storm”, the many and varied fields of application for the Blockchain in practice.
Vitalik Buterin, founder of Ethereum, describes in his recent Tweets, that the Blockchain can be used not only for financial transactions and projects, but also away from it. The scaling is always better and, as a result, it is recommended to use for users, the easier these new innovations. According to Buterin, this part will affect the “story of our time considerably.” Furthermore, he argues that the Blockchain will be used not only as a transport medium, but the one of the cryptographic possibilities are very diverse.
The Blockchain can verify educational degrees, this is already used in some countries in the world. The Ministry of education of Malaysia announced recently that University degrees can be verified with the help of the NEM Blockchain. In the Bahamas, already in the beginning of the year was established in a similar System. Buterin also been criticised that the consciousness is drifted heavily in the financial sector and the real progress is in the Background, however, is much more important than to quickly generate easy profits.
Furthermore, he highlights the great safety as well as immutability of the Blockchain. This is. for example, in the case of information, the authorities are available is important, as it often occurred, that pre-existing information have been adjusted retroactively, without notice to the Person or the company in The storage of values in the Blockchain is, in his opinion, is also safer than Storing money in a Central Server, since this could change and decide, in retrospect, the rules. This is within the Blockchain is not possible, however, many Wallets are not 100% sure.
Particularly in the case of censorship, this property is special. Regier payments had so far simply let the option documents, or unwanted information, to disappear, due to the Blockchain technology, this is prevented, since a permanent storage is possible and there is no Central device (can be switched off, for example, a Server). Buterin has already said in the past that the interests of the further development of the crypto market should not only purely financial interests, but the progress of the entire Ecosystem is important.