More disruptive than the internet
At Morpheos, we live our lives fond of technology all around. We believe in its potential and future developments, and we know that it applies to you as well. We all dream to achieve a better world through innovations that solve problems and make our lives easier and more enjoyable.
As Mark Pepermaster, CEO @ AMD said:
“The blockchain revolution is comparable to the internet”
So much truth in his words. The blockchain, this new system for tracking information and independently verifying its authenticity without external intermediaries that belongs to no one (and, for this reason, it is for the benefit of all those who work honestly) is finding consent and giving value to many industries beyond cryptocurrencies.
Beyond cryptocurrencies: some examples
- Smart contracts: these are contracts/agreements, both between individuals and companies, valid even without the intervention of an intermediary. In fact, it is the mechanism behind the blockchain that approves the contract if and only if (through the resolution of complicated mathematical problems) the conditions stipulated by the parties are verified.
- Elections: Some highly corrupted countries have tested the implementation of blockchain to register the electoral preferences of voters. The technology structurally excludes fraud.
- Supply chain: Made in Italy products, manufacturers and distributors could gain great advantages from Blockchain: only verified products will be recognized as true “Made in Italy” ones, preserving this “brand” from fake copycats.
- Public administration: registers of any kind and all that until a few years ago was stored in paper and now in digital archives (stored in local memory supports and/or in the cloud) will be transferred to the blockchain.
One of the most robust point of its innovation, is the capability of the blockchain to be hack-resistant: in order to corrupt an information that is stored in a block, an ill-intentioned person should replicate the hack into each and every copy of the blockchain, potentially managed by millions of computers.
This is a great reason to look at blockchain as a way to improve other technologies as well: it is setting itself as the technological infrastructure of the very tomorrow.
What awaits us in the near future?
This post isn’t aimed to give an explanation from a technical point of view because it would get way too complex, but to give an overview instead:
Of course, even the blockchain must overcome its challenges to become a standard. In order to maintain its efficacy, it needs lots of distributed computing power, with high costs for machines and their maintenance. One of the most promising proposals in this concern is Intel’s new chip. Smaller than a grain of salt, it could potentially make lots of devices blockchain-capable. This, with other innovations, will create an enormous paradigm switch that will bring our world to the next level of development, at least on the technology side. The blockchain, together with connected devices, increases accuracy, speed and reliability on many industries.
Let’s say your smart thermostat should communicate with the air-conditioning system of your house, and all the data must be managed by the “brain” of it. This must keep record, at the same time, of security data, manage the alarm system, collect useful data for preventing contingencies.
The unchangeability of the blockchain plays a main role here: insurance companies can dispose of a very efficient anti-fraud system while giving more and better information of what happens, making targeted and effective assistance inteventions possible.
Regarding insurances, do you know that according to the insurance company Aviva, we are the most promising italian startup in insurtech?
To industry 4.0, for real!
The Internet of Things, connects the most various devices (among which our Momo) to improve comfort, quality of life and also the efficiency of industrial production.
On an industrial point of view, let’s imagine a factory where robots and humans cooperate: with the constant increase of speed and efficiency, information are stored in may different ways at the same time. In this tumult of productivity, the task of collecting and processing information is crucial. And Planet Earth has never seen a method so good.
The term “Industry 4.0” synthesizes all of that. Of course, as it happened with steam first, electricity and mass production, oil, microprocessors and the internet, once the challenges are overcame, they deliver esponential development and disruptive improvement.
The speed of this progress is very promising and encouraging for the future.
All the possibilities introduced by the Internet of Things will get a boost thanks to the blockchain: the reliability loop in complex systems will be finally closed.