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Blockchain at work

These blocks are linked together with the help of some cryptography magic, and data can be stored in real-time on these blocks. The best use of this data in today’s world has been in transactional data- where all processes are executed in the form of transactions. This explains why the finance and fintech sector is the most influenced by distributed ledger technology – because anything involving money has an inherent transactional nature attached to it.

Blocks in a Chain

Multiple participants (nodes) can be invited to a peer-to-peer network. Similar to the Bitcoin network. Each node will get a copy of our DLT database or blockchain-based application. As we put unlimited blocks (the previous block with pieces of information) in a chain, each participant can see the transferred data points. Therefore, transparency is granted, without the need for every node to see the details of a single data point.

Hence, it’s a myth that distributed ledger technology is only used for digital assets, digital currency, or money laundering, and other criminal activities. Much more it’s a much safer technology to protect intellectual property or sensitive data, f.e. in the financial services industry, from credit cards while sending over the internet.

02 Basics

BLOCKCHAIN – CATALYST FOR INDUSTRY REVOLUTION 4.0

Blockchain solutions – touted as a prime catalyst for the next industrial revolution, is phenomenal.

A good POC (Proof of Concept) and a scalable solution are all you need to leverage this technology and drive growth for your organization.

If you’ve heard the term block chain somewhere in an article, or from your friends, and cannot for the life of you figure out what this means, well, then you can learn about blockchain and implement it in your business processes right here! Read on and find out what this wondrous tech is all about.

Blockchain explained

Simply speaking, it is a ledger that is transparent and controlled by a decentralized network. Each node holds a private key. So for instance, a set of data released by a centralized organization can be tampered with as per convenience. With this distributed ledger technology at work, this won’t be the case.

Why Blockchain?

Because it embodies one very important function – decentralization. Blockchain applications do allow individuals or entities to make transactions without the middleman, for example, the bank. First introduced by Satoshi Nakamoto in 2008, Bitcoin disrupted the financial institutions, while Ethereum did the same with lawyers and notaries. This solution offers complete security, anonymity, and verifications of transactions, in addition to the basic features that centralized transaction networks offer.

This technology is still emerging. All of its use cases haven’t been established as commercial solutions to problems, but businesses and firms have already started harnessing its power.

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Distributed ledgers have existed for as long as transactions have existed in the world, which probably spans thousands of years. Ledgers were traditionally kept in paper form, and as the world moved towards scientifically advanced solutions, computerized ledgers took over. Although, computerized ledgers work in the same way paper ledgers do. So, where’s the benefit?

DLT in a Nutshell

Faster, safer, and more secure data transactions through DLT. What’s more, is that scalability gives it a significant boost. You can spread your data throughout the globe quickly. The decentralized distribution of your data is what makes it safe. Thanks to DLT!

With the advent of cryptography, the need for the central authority to verify what’s written in the ledgers has disappeared. The distributed ledger technology stores transactions and their information in multiple places at the same time.

No central authority

There is no central data store for DLTs, hence the name distributed. Blockchains are one of the most popular forms of distributed ledger technology, utilizing cryptography and advanced algorithms to store process, and validate transactions over a network, without the use of a central authority. 

Finding a good product-market fit and impressive use cases will help your IT strategy to the runway.

But, our expert blockchain consulting and insights will help you to truly take off!

No matter where your organization’s DLT strategy is right now, iMi will join you and start making an impact from the word go!

Years of experience and our industry-leading expertise with DLTs will help you navigate quickly to a successful implementation of the blockchain network.

WHAT ARE THE MOST POWERFUL BLOCKCHAIN USES OTHERS THAN BITCOIN? WHY DO WE NEED DISTRIBUTED LEDGER TECHNOLOGY? WHERE CAN BLOCKS HELP US TO OVERPERFORM?

In particular, a distributed ledger is a database. Once the data is set in a block, it is consensually shared and synchronized across a network. Likewise on multiple sites, institutions, or geographies. Each transaction got public witnesses. Hence, a distributed ledger is difficult to hack. Nodes (network participants) can access the recordings. Therefore, each node can own an identical copy. Furthermore, only the owner can make changes. Any change is immediately copied to all participants. The most noteworthy applications of today are:

06 intelligence

SMART BLOCKCHAINS

What is Artificial Intelligence (AI) and how can this technology be applied when it comes to DLT implementation? First of all, AI is the simulation of human intelligence that a computer system can process. Imagine a robot, acquiring information, and learning from it. Al system runs fully automated. Waymo, Google’s self-driving car, and Apple’s SIRI are only two examples of artificial intelligence (AI) applications. Google’s search algorithm or IBM’s Watson to autonomous weapons shows that this technology is improving very fast

Furthermore, scientists are already developing so-called Strong AI, better known as Artificial General Intelligence (AGI) a system with generalized human cognitive abilities.

09 partners

MEET OUR DLT PARTNERS

Meet our major partners. Above all, we only work with the best in class. In detail, we cooperate with the best technical universities. Furthermore, we partner with the most important associations. In addition, we attend all global summits when it comes to Block Chain Technology. As a result, we are proud to partner with the following companies:

ETH, the top-notch technical University of Zurich is offering ground-breaking research.

The University of Zurich is one of the leading research universities in Europe.

INATBA is the International Association for Trusted Applications.

The International Token Standardization Association for the global token economy.

We follow the Global Digital Finance Code of Conduct for the cryptoasset market.