This article is published in collaboration with The Conversation.Most people who have heard the term think that the “blockchain” is only something to do with cryptocurrencies such as bitcoin, litecoin, doguecoin and others.It’s the technology that underpins digital currencies and ensures that all transactions are properly conducted and recorded.But what is stored on the blockchain need not be just a currency unit – it can be put to all manner of other interesting uses.The blockchain is defined as “a system that’s secure without a higher authority, distributed across many strangers’ computers, yet tamper-proof, and promises a mechanism for trust mediated directly between individuals”.Essentially, by providing a distributed means to guarantee and verify transactions, the blockchain offers the ultimate opportunity to cut out the middleman.A key aspect is the programmable smart contract: code stored on the blockchain that automatically executes when certain conditions have been met.

In uses that involve a financial transaction, it makes sense to use bitcoin or some other digital currency for the same reason – by doing so, transactions can be automated and guaranteed without recourse to third parties, such as a bank.Not all uses involve payments.For example, Kim Jackson and Zach LeBeau were married on the blockchain in November.Is a blockchain marriage legally binding?Well, some parts of it would fall within contract law, but it’s a first symbolic step.Many major companies are looking to the blockchain as a way to simplify and strengthen supply chains, where the blockchain could record each step a product has taken.For example, it could be used to guarantee the origin of foods.In other cases, the blockchain can be used for peer-to-peer exchange or sale.Imagine you have an electric car.When your charger is unused, you can rent it out to other car owners, paid in bitcoins via a blockchain smart contract.Another use is automated security, using code embedded on the blockchain to trigger granting or denying access depending on the requester.

This way security is assured, as no third parties are involve and no one holds the “keys”: the lock has become one with the key, and assurance lies in the distributed trust of a shared, anonymous network.One firm supplying this is Slock.The owner can set a deposit amount and a price for renting a property, which the user pays through a blockchain transaction (not even Slock is a middleman), which permits the user to open and close the smart lock through their smartphone.It’s a lock activated by money, without any need for third-party authority.And it’s not just start-ups such as Slock that are taking notice – bigger players, including IBM, are onto it too.A radically different application comes from Bitnation, a project aimed at using blockchain to decentralise governance.Bitnation is offering victims of the refugee crisis an emergency digital ID and bitcoin-based credit card which can be used to receive funds from family members or friends without bank accounts.With this it is possible for an individual to prove their existence and identity through family relations cryptographically, recorded on the blockchain like a distributed public ledger.

This acts as a sort of international notary public.Bitnation works by generating a QR code – a barcode – which can be used with a cellphone to apply for a bitcoin credit card which can be used throughout Europe and the UK without a bank account.bitcoin split private keyAustralian software firm Edgelogic offers a glimpse of how blockchain technology could be used at home, a bridge between digital payments and the Internet of Things.bitcoin xbt vs xbteFor example, a sensor could report to the blockchain when it detects damp, an alert which triggers a set of instructions that transfers cash for repairs from an insurer to a claimant’s account, even before the person knows anything is wrong.ethereum cpu mining speed

A digital crypto-currency has just launched that is generated by human movement.Bitwalking dollars can be earned simply by walking, unlike other digital currencies such as bitcoins that require “mining” though using computers to solve cryptographic problems.bitcoin gh/s minerWith Bitwalking, a phone app counts and verifies users’ steps and walkers earning approximately BW$1 for every 10,000 steps (about five miles).bitcoin annual turnoverThese can be spent in an online store, or traded for cash.ethereum symbol stockWhile some ideas may seem like solutions looking for a problem, others are more closely tied to real needs.They redefine what use the blockchain could be put to – eliminating the need for banks, or even for aspects of government.It’s clear that the blockchain has expanded beyond bitcoin and cryptocurrencies – but as with all disruptive technologies, in which direction it will be taken remains to be seen.

Publication does not imply endorsement of views by the World Economic Forum.To keep up with the Agenda subscribe to our weekly newsletter.Author: Paul Levy is a Senior Researcher in Innovation Management at the University of Brighton.Image: A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration.News about Bitcoin and Litecoin Monday, 29 September 2014 News Inside Bitcoins Returns to Las Vegas Next Week – Get 15% OFF!Inside Bitcoins Las Vegas is just around the corner, and we’re excited to announce that we’re once again partnering with the event this year to offer you an exclusive discount!The event, which will take place October 5-7 at the Flamingo Hotel and Casino, will feature 35 informational sessions, over 70 speakers, 4 keynotes, and a half day of workshops.... 1 Friday, 13 December 2013 News Litecoin miners to account for $195 million in AMD GPU sales?With the recent run up in prices in litecoin, the second most popular crypto-currency reached a market cap of $1 billion dollars in November.

Litecoin had traditionally hovered around $3.00 for several months, then rose to an all time high of $48.Litecoin's meteoric rise has recently outpaced bitcoin, which topped the $1200 mark around the same time.Led by promising news of broader adoption by some of the larger currency exchanges, such as Mt.Which says it will fully support litecoin when they've completed the implementation of their new trading engine, code named "Midas".This news has led Coinbase, the largest US based crypto-currency payment processor, to state that they will adopt litecoin after the Mt.Gox, and Bitstamp implementations.... 3 Tuesday, 03 December 2013 News In response to the current success and buzz surrounding Bitcoins, Mediabistro is sending Inside Bitcoins to Las Vegas next week, December 10-11.The conference will attract experts from the Bitcoin and cryptocurrency industry for networking and discussion surrounding the role Bitcoins play in the economy today and the future.... 1 Tuesday, 26 November 2013 News Open letter to Peter Schiff Stefan Molyneux recently did an interview you, allowing you to further explain your negative comments regarding bitcoin.

Peter, it seems you don't fully understand what bitcoin is, and/or what the current value & future potential holds.I hope that your rehearsed argument for bitcoin, is not solely because your financial brokerage business, needs to maintain the monetary status quo in order for it to flourish, as most of your recommendations are a hedge on poor monetary policy.Full disclosure, as I and family members are/have been clients of Euro Pacific.... 1 Thursday, 21 November 2013 News Competing crypto-currencies:  The good, the bad, and the ugly.The emerging world of digital currencies has created a mad rush of innovation, some good, and some outright shameful.I will be treading lighting on this subject, because there is an emotional aspect for early adopters of any crypto-currency.This is not unwarranted, as a passionate group of individuals can bring obscure ideas to light, much like Satoshi Nakamoto did with bitcoin in 2009.These dedicated, and passionate supporters & visionaries help to create what could be most revolutionary technology in over a century.... 5 Wednesday, 20 November 2013 News Bitcoin, the true free market Bitcoin was front and center at the Senate hearings this week in Washington DC.

Where several people testified about bitcoin, and the implications is has for the government, and consumers.This seemed to spark a new round of interest in bitcoin, as it promptly rose to $900.Thus, triggering the same talk about price volatility, and the alleged bitcoin bubble.The mysterious nature of bitcoin has placed some of the most engrained financial pundits, and economists in a quandary of sorts.Many of them are still blithefully ignorant of what bitcoin is, and continue to remain firmly entrenched in the highly regulated & centralized financial system, they so wrongly call the "Free market".... 1 Saturday, 16 November 2013 News Litecoin VS.sanitized bitcoin The US Senate has called for hearings to be held about bitcoin, on November 18, 2013.Recently there has been a lot of speculation about the potential regulatory requirements on bitcoin.This news raged through the bitcoin community, and came about because of the announcement of a company called CoinValidation.

This company proposes to create a blacklist database for government enforcement agencies, to track any bitcoin addresses that have allegedly been used for "illicit" transactions.... 2 Thursday, 14 November 2013 News Sanitized Bitcoin and Digital Nanny State Everyday bitcoin becomes more mainstream, and in doing so, it instigates scrutiny from Government officials.Bitcoin, like any currency, can be bartered, traded, purchased; and eventually any form of exchange can be used in what the State would consider an “illegal” manner.... 1 Wednesday, 13 November 2013 News Is Peter Schiff wrong?Peter schiff did a phone interview with CNBC on Tuesday, where he went on to skewer bitcoin as a "modern day tulip mania".This was in response to Tyler & Cameron Winklevoss's statement about bitcoin being gold 2.0.There might be some excitement in bitcoin right now, but it's on a very small scale, given the vast majority of people are not aware of bitcoin, and certainly don't own any.... 1 Tuesday, 12 November 2013 News CoinAxis Announces Media Partnership with Inside Bitcoins Conference – Get 15% OFF Inside Bitcoins, Mediabistro’s bitcoin-focused conference that debuted last summer in NYC, is headed to Las Vegas after receiving tremendous interest and positive feedback following the first event.... 1 Monday, 11 November 2013 News Zillow CEO obfuscates bitcoin with delicious irony.

Spencer Rascoff, the CEO of the real estate marketing company, Zillow, was on Bloomberg recently.During this program, the discussion turned to bitcoin, and the direction it has been heading lately.Rascoff made the following statement:... 3 Thursday, 07 November 2013 News Gold vs.Bitcoin Gold has been considered money for centuries; although, FED chairman Ben Bernanke would disagree.In his now infamous answer to former Congressman Ron Paul's question:  "Do you think gold is money?"Bernanke had a very puzzled look on his face when posed with such a straight forward question.His answer was an emphatic "No".If you understood the position of the Federal Reserve Bank, you'd understand why such a question is a double-edged sword.The lifeblood of the Federal Reserve Bank is DEBT, and to them, anything other than debt is one more nail in their monopoly coffin.... 4 Friday, 01 November 2013 News Why litecoin is important With the recent popularity of bitcoin, and the exponential growth of hashing (mining) power on the bitcoin network, there has been little news about bitcoins closest complimentary currency, litecoin.

For those of you who don't already know, litecoin is similar to bitcoin.It has a couple of technical differences that may or may not be highly influential in bitcoin and/or litecoin's success.More on this later.... 4 Tuesday, 29 October 2013 News Austin and Beccy, from Life On Bitcoin talk to Coin Republic about their journey It is a great experiment traveling the world, and living only on bitcoin.Austin and Beccy are on their final leg of their travels.Currently in Singapore, they sit down with Coin Republic for a brief interview.Enjoy.... 1 Friday, 25 October 2013 News Open letter to Russell Brand Dear Russell: I just finished watching your interview with Jeremy Paxman, aside from Mr.Paxman being a trite individual, it was fantastic exchange of new ideas vs.I'm sure you were expecting Sinead O'Conner, or Miley Cyrus to write you this open-air missive.Alas, I'm going to underwhelm you, because my fame and fortune are nonexistent.So, here it is, you get me, Michael, writing you in hopes to get your attention to some important issues, in which are pertinent to your revolutionary interview.... 6