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Practical ways to use Blockchain and IPv6

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Practical ways to use Blockchain and IPv6

Dr Wright began the session by discussing some of the key differences between IPv4 and IPv6.

The Bitcoin Masterclass (Slovenia) Day 2

Dr Craig S. Wright, Chief Scientist at nChain, held the second edition of his Bitcoin Masterclass series at an exclusive venue in Slovenia in February. The Masterclass course forms part of a monthly series aimed at helping attendees understand the fundamentals of Bitcoin and the technology behind it.

The Bitcoin Masterclass series will give you a comprehensive overview of Bitcoin’s history, theory and design. Wright discussed the future of Bitcoin and the unbounded scalability of nChain’s blockchain solutions, with potential use cases across several industries.

In the final session of his Slovenian Masterclass, Dr Wright asked the group to discuss some practical ways to use blockchain and IPv6. He specifically asked attendees to discuss some of the applications that could be built using these technologies across various sectors.

Dr Wright began the session by discussing some of the key differences between IPv4 and IPv6. He also re-emphasised the importance of meticulous design when developing distributed applications and noted that IPv6 provides ample redundancy due to the abundance of available IP addresses.

The attendees were then asked to split into groups to discuss applications which can be built using blockchain and IPv6. Some of the ideas are outlined in more detail below.

Applications that can be built using blockchain and IPv6

Logistics and tracking

The first group discussed using blockchain and IPv6 within the logistics sector by tracking and tracing goods. IoT devices, all with unique IPv6 addresses, could be used to communicate with receivers, customs officials, and more as they move from location to location, are offloaded and reloaded.

IoT can also be used to monitor containers and capture internal activities, including crate openings. By automatically updating data on the blockchain, this system ensures that all relevant parties are informed about the same occurrences and locations.

Moreover, it effectively safeguards against fraud, theft, and other related concerns. These IoT devices can also retrieve valuable information such as container temperatures and travel distances.

Property management and access control

The second group discussed using blockchain and IPv6 for property management. The group discussed linking keys to certificates and subsequently ownership. These certificates could be registered at the Deeds office and can be transferred when the property is sold or rented. They could also be used to provide access to the property in specific instances and to prove ownership in cases where keys need to be duplicated by a locksmith.

Smart technologies and IoT devices

The third group discussed the different ways in which smart technologies such as watches and televisions could incorporate IPv6 and blockchain alongside IoT.

This included watches which send alerts when stolen, smart fridges capable of automatically placing orders for depleted goods, smart cars that detect potential issues in advance and validate the authenticity of replacement parts, and smart parking systems that enable users to pay exclusively for the duration they have utilised.

Product recalls

The last group discussed how blockchain and IPv6 can be used in cases where a product needs to be recalled from the shelves due to a defect. This further extends to using IoT devices to track the quality and safety of food throughout the supply chain. The group also discussed using tokens across smart systems.

You can watch the final Masterclass session in Slovenia below:

Ryan Brothwell

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