Blockchain Idea Validator

You have an idea that you think that you can put on a blockchain?

Fill out the form below to validate your next blockchain idea.

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What is Blockchain?

"The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value."
Don & Alex Tapscott, authors Blockchain Revolution (2016)

A distributed database

Picture an Excel spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.

Information held on a blockchain exists as a shared — and continually reconciled — database. This is a way of using the network that has obvious benefits. The blockchain database isn’t stored in any single location, meaning the records it keeps are truly public and easily verifiable. No centralized version of this information exists for a hacker to corrupt. Hosted by millions of computers simultaneously, its data is accessible to anyone on the internet.

Web 3.0 The blockchain gives internet users the ability to create value and authenticate digital information. What new business applications will result?

Smart contracts

Distributed ledgers enable the coding of simple contracts that will execute when specified conditions are met.

The sharing economy

By enabling peer-to-peer payments, the blockchain opens the door to direct interaction between parties – a truly decentralized sharing economy results.

Crowd funding

Blockchains take this interest to the next level, potentially creating crowd-sourced venture capital funds.

Governance

By making the results fully transparent and publicly accessible, distributed database technology could bring full transparency to elections or any other kind of poll taking.

Supply chain auditing

Distributed ledgers provide an easy way to certify that the backstories of the things we buy are genuine. Transparency comes with blockchain-based timestamping of a date and location – on ethical diamonds, for instance – that corresponds to a product number.

File storage

Decentralizing file storage on the internet brings clear benefits. Distributing data throughout the network protects files from getting hacked or lost.

Prediction markets

Prediction markets that pay out according to event outcomes are already active. Blockchains are a “wisdom of the crowd” technology that will no doubt find other applications in the years to come.

Protection of intellectual property

Smart contracts can protect copyright and automate the sale of creative works online, eliminating the risk of file copying and redistribution.

Internet of Things (IoT)

Smart contracts make the automation of remote systems management possible. A combination of software, sensors, and the network facilitates an exchange of data between objects and mechanisms.

NeighbourhoodMicrogrids

Blockchain technology enables the buying and selling of the renewable energy generated by neighbourhoodmicrogrids.

Identity management

Distributed ledgers offer enhanced methods for proving who you are, along with the possibility to digitize personal documents. Having a secure identity will also be important for online interactions – for instance, in the sharing economy.

AML and KYC

Anti-money laundering (AML) and know your customer (KYC) practices have a strong potential for being adapted to the blockchain. Currently, financial institutions must perform a labour intensive multi-step process for each new customer. KYC costs could be reduced through cross-institution client verification, and at the same time increase monitoring and analysis effectiveness.

Data management

In the future, users will have the ability to manage and sell the data their online activity generates. Because it can be easily distributed in small fractional amounts, Bitcoin – or something like it.

Land title registration

AsPublicly-accessible ledgers, blockchains can make all kinds of record-keeping more efficient. Property titles are a case in point. They tend to be susceptible to fraud, as well as costly and labour intensive to administer.

Stock trading

When executed peer-to-peer, trade confirmations become almost instantaneous. This means intermediaries – such as the clearing house, auditors and custodians – get removed from the process.

You think you have the next great idea?

Question 1: Finality