Blockchain Meetups in San Diego
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A Blockchain is a type of database that is highly distributed. Blockchain technology has been around for quite some time.
It has only recently gained notoriety as Crypto Currencies, which rely on Blockchain databases, have started to gain traction. Typical databases are run and controlled blockchain technology group san diego a single server, which makes processing transactions very simple. However, as you can imagine, having only one copy of the database can be risky if something were to happen to that server. Blockchain by comparison, requires a multitude of servers to maintain a copy of the database.
When a transaction is written to the database all the servers must process the transaction, and agree that the transaction is valid before committing the blockchain technology group san diego to the database. This process can be quite intensive as the amount of transactions and servers grow. The main benefit however, is the technologies resiliency and reliability.
The Blockchain is one long ledger of transactions. Blockchains can be built to record various types of information. Crypto Currencies such as Bitcoin record who paid who how much digital currency and when. Ie Joe paid Ann 32 Bitcoin on Other blockchains allow for more complicated information to be recorded. Blockchains have limitations and drawbacks, but there are a number of reasons why they can be transformational.
The absence of a singular authority guarantees that as long as the parties remain interested in the information being shared, the information will blockchain technology group san diego be available.
As an example, IBM is working on Blockchain technology that can unite a global supply chain. Imagine every company that participates in the automotive industry from the ore mines, to Ford motors making available supply and demand information. You can imagine that supplying markets with goods could be dramatically more efficient. A singular supply chain ledger blockchain technology group san diego communicate very important information to these interested third parties.
The Steel Mill could understand current ore supplies, which happens now. But it could also understand future demands for it product based on transactions that are occurring further up the supply chain.
This blockchain technology group san diego just one exciting example of what Blockchain technology will have in store for us.
We are still in the very beginning when it comes to creating use cases for Blockchains. There is a huge amount of development being done in this area. The short answer to this question is, probably not right now.
We are keeping a keen eye open to developments in Blockchain. Here at PCG, we see this technology as a possible huge boom for our clients in the future. We will keep you informed as to developments that might affect you and your company. Here is a list of interesting Blockchain projects: Can Blockchain technology help my company?