Blockchain and Bitcoins are buzzwords in the current digital world. They are read frequently on the internet, in news, blogs, social media and much more. Most of the people don’t know their meaning and use; both of them are interconnected but not the same.
Today, we have brought this post to make you know what do both mean and let you know famous companies who have started investing in blockchain stock. Let us first check out the definitions of both.
What is Bitcoin?
It is a digital currency created by developer Satoshi Nakamoto. Bitcoin is operated by a decentralized authority and has lower transaction fees than traditional online payment methods.
It has no physical form rather the transactions done are kept on a public ledger in the cloud.
They are not backed by any government or bank and also, they are not valuable as a commodity. After their successful use and high demand, many similar currencies (called cryptocurrencies) have arrived in the market.
What is Blockchain?
Blockchain is a technology that powers Bitcoin and other cryptocurrencies. It is a chain of blocks in a simple sense; it is a chain of information that is stored in the form of connected blocks. If you do any transaction, for example, you transfer 100 bitcoins to your friend then it is done with Blockchain technology. The information on the transaction is stored in the form of blocks.
Now, let us have a look at famous companies who have started leveraging this technology to make our lives easy.
Everyone reading this article must be familiar with MasterCard Inc. and most of you might have also done a payment with a MasterCard debit or credit card. It is already in the payment processing business so there is no surprise knowing that it has also entered the Blockchain market.
Now, the company has started facilitating payments with blockchain-based technologies which are quite secured and robust so user’s money will remain safer now. For this, it is not a compulsion to have Bitcoins. The debit cards and credit cards will be enabled with this technology and the payments will be done via it.
IBM, the tech-giant who has a big name doing innovation in AI, cloud computing, hardware products, and data analytics, has already started putting efforts in this field. It has launched a small version of its blockchain platform and it has received a lot of appreciation from experts in this field.
There are several different benefits and use-cases of this technology and IBM is putting its efforts to explore more and make our lives simpler.
Overstock is an online eCommerce store that sells several different items such as furniture, rugs, kitchen items, jewelry and much more. Over the past couple of years, the company has entered the blockchain market.
They have created tZERO, a cryptocurrency, and distributed ledger platform. It is an alternative trading system (ATS) regulated by the Securities and Exchange Commission (SEC). It is one platform where one can start investing.
Kodak is quite worldwide for making photography and camera related products. The brand name of this company has degraded with time as new technologies came for clicking photos and recording videos.
This company is also planning to grow again with the advent of blockchain. Kodakcoin development is going on currently, it is a photographer-oriented cryptocurrency that will be used for doing payments for licensing photographs. It will be also used to make sure that the photograph is not used without the owner’s permission.
CEO, Jeff Clarke said that their plan is to make licensing fair to artists so that the photographer’s long-efforts of clicking the photos are not harmed. It will solve the problem of a photograph being used unethically.
Now, let us have a look at what can be the real-world use-cases of this technology. These are just brief use-cases and many more use-cases will come as more advancements are made in this field.
- Monitor supply chains
- Loyalty Rewards program in Retail
- Digital IDs
- Online voting
- Copyright protection
- Real estate title transfer
- Tax regulation
- Medical record storage
- Equity trading
- Drug tracking
- Food safety
So, here was a brief article on bitcoin and blockchain investments. I hope it answers your question of how to invest in blockchain. Gather more information about different sources of investment in this field and invest your money in the right place.
Stay tuned to get more information on this wonderful technology which is going to make our day-to-day transactions more secured for sure!