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Using Distributed Hash Tables, IPv6 and Blockchain in Business

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Using Distributed Hash Tables, IPv6 and Blockchain in Business

One of the key focus points of this session was acknowledging the immense potential of blockchain and IoT devices in completely transforming supply chains.

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 second session on the second day of his Slovenian Masterclass, Dr Wright asked the workshop attendees to break into groups and discuss applications that can utilise distributed hash tables, IPv6 and blockchain across different industries.

A use-case for business and governments

One of the key focus points of this session was acknowledging the immense potential of blockchain and IoT devices in completely transforming supply chains. This collective has conceived the idea of utilising this technology to monitor the movement of goods, particularly those being transported via train.

By employing IoT devices equipped with distinct IPv6 addresses, seamless communication can be established between the devices and various entities such as receivers, customs officials, and others involved in the process. This communication network facilitates real-time tracking as the goods transition between different locations, undergo offloading and reloading operations, and more.

Some of the specific sectors and ideas which were discussed as part of the session include:

  • The Payday loan industry;
  • Electronic timestamping for contracts;
  • Wallets payment contracts;
  • Peer-lending applications;
  • Finance scoring information;
  • Classifying information geographically;
  • Collateralised Debt Organisation;
  • Various applications for sports and events;
  • Health trackers;
  • Legal applications, including smart contracts and documented properties;
  • NFTs and transferable digital goods;
  • Fishing and the supply-chain industry;
  • Social media and microtransactions for data;
  • Government regulations and promulgation.

You can Dr Wright’s full presentation and the various group discussions in the video below:

Ryan Brothwell

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