Published : June 15, 2023
In February 2023, at an exclusive venue in Slovenia, Dr. Craig S. Wright, Chief Scientist of nChain, held his new Bitcoin Masterclass . Bitcoin Masterclasses are a monthly series designed to help attendees learn the fundamentals of Bitcoin and the technical knowledge behind it.
The Bitcoin Masterclass series will give you a comprehensive introduction to Bitcoin's history, theory, and design. Dr. Wright discussed the future of Bitcoin and the infinite scalability of nChain blockchain solutions, while also presenting potential use cases for Bitcoin across multiple industries.
In the final session of the first day of the masterclass, Dr. Wright discussed how blockchain can be used in various industries including the food and hospitality industries.
Blockchain Application Case Brainstorming
At the beginning of the last session, Dr. Wright divided the participants into several groups and asked them to brainstorm various application cases of blockchain, as follows:
Blockchain for food traceability
The panel discussed how blockchain can be used to track food from field to fork. We can achieve this by combining IoT sensors and blockchain , which can monitor everything from: temperature, where food is stored, and even the pesticides or chemicals used in the production process.
Blockchain used to provide an alternative to the Airbnb model
The blockchain could provide a real alternative to the Airbnb model by on-chaining available properties. Tourists visiting a particular city can join multicast groups in which hosts advertise rooms and apartments they have available. Visitors can then exchange keys with the host and check in.
Such a model has many benefits, for example, all parties involved can give anonymous feedback and ratings about each other and the service provided. In addition, the micropayment feature of the BSV blockchain can also incentivize passing travelers to respond to inquiries about accommodation.
Blockchain used to replace car insurance
This panel discusses how on-chaining of vehicles (and other assets) will revolutionize the insurance industry, as buyers have access to the vehicle's complete history. This will allow buyers to see if the vehicle has been in an accident, what parts have been replaced, and even identify faulty parts through the detection system.
Blockchain for microloans and investments
This group explains how smart contracts can be used on the blockchain for a new type of crowdfunding . A smart contract built on the blockchain will specify key details such as the amount and terms of the contract, as well as more detailed information such as the conditions under which funds should be returned and a repayment schedule.
Blockchain used to verify educational credentials and identity information
The group noted that the use of blockchain technology would make it easier to verify qualifications for schools of all kinds, thereby combating fraud. This idea can also be extended to the commercial field, so that the public can fully prove their identity.
blockchain for social media
This panel discusses how blockchain and IPv6 technologies could fundamentally change the way social media is used by linking people's profiles to personal IPv6 addresses. The group also noted that building social media platforms on the blockchain would also make it easier to track anonymous users and combat the spread of disinformation.
Blockchain used to improve travel and luggage security
The final panel noted that one of the biggest problems facing the travel industry today is lost and stolen luggage. They suggest a combination of Apple's Airtag and technologies such as NFTs to easily identify and track luggage. The group also discussed how blockchain could replace physical passports by storing and maintaining all necessary information on-chain.
At present, more than 400 projects around the world have been built on the BSV blockchain. With the rock-solid protocol and ultra-high network performance, the BSV ecosystem is developing rapidly, and we look forward to more unprecedented commercial applications in the future.
- Friends who are interested in the development of BSV blockchain can go to our Chinese developer zone or follow the following public account: BSV blockchain
