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« on: 01 July , 2019, 12:04:41 pm »
Goodmorning everybody,
with this post I want to share with you some information about the application of blockchain technology in economy.
here you have some links:
(PDF) Governance in the Blockchain Economy: A Framework and Research Agenda
How Blockchain Technology Can Transform the Economy
(PDF) Blockchain Economics and Marketing
Have a nice day and have a good work

Re: Economy
« Reply #1 on: 30 July , 2019, 18:58:58 pm »
    Hi every IYSC participant:

    As Giovanni has already stated, Blockchain is probably bound to change the world economy in a permanent way. Although the most famous application of this technology is Bitcoin (and, as virtual coins, it is inherently linked to Economy), it is much more complex and rich in functionality. Technology has the power to change our habits and society, and Blockchain is no exception: it provides a way to make exchanges through the Internet in a completely private and secure way, apart more flexibility. Have you consider in your texts...
    • the simplification of some procedures (like voting) compared to the costs of implementing this technology?
    • the risks (or lack of risks) Blockchain has, and the costs (or saving) it involves?
    • the prospects of evolution of this technology and the inversion required?
    • its impact on the perspectives of economical growth and international business?

    I would sincerely like you to share your opinions or findings regarding to this question or any you might find interesting to comment. I hope it might help you to carry out your research.

    Yours sincerely,
    José Javier
« Last Edit: 31 July , 2019, 12:26:50 pm by VET-ES-JoseJavier »

Re: Economy
« Reply #2 on: 31 July , 2019, 12:23:34 pm »
Good morning,

Everything is Blockchain. Or at least, everything will be.” – Enrique Dans (Innovation teacher at the IE Business School)

As Dans stated, everything will be powered by Blockchain, it will be the technological base of any process. This is not difficult to prove, during the last year we have been hearing news about this revolutionary system and how will it change the way we live.
Taking into account this fact, I am completely sure that Blockchain has the ability to change economy, to make it evolve.

Blockchain is a technology we can compare with the apparition of the personal computer or even with the creation of the Internet, it will probably be the biggest and significant change we experience in our life.
As José Javier said, one of the most famous applications of this technology, Bitcoin, is linked with Economy. However, we will see how this is not the only use we can give to Blockchain, when talking about economy we could think about solving poverty in some countries by adding a cryptocurrency system or even removing the centralization which banks are now owning.
This are some little aspects we could highlight about Blockchain changing the way economy works, however this is just the tip of the iceberg, but if we go further, if we continue studying this technology we will be able to see a reality which is completely different from the one we nowadays know, and this reality will be built on top of Blockchain.

Do you think this sounds futuristic? Well, we haven't discovered anything compared to what Blockchain is capable of doing. In the future, it won't matter if we are storing information on the network, signing a contract or even voting in an election, in any case we will be using Blockchain.

And the most interesting thing is that Blockchain will not change the way we process information or we communicate, but will, as José Javier said, change our habits and society, it will change our lives.

I just wanted to post this message so that we can all understand why is Blockchain important and the huge power this technology contains to change our future. I think the questions in the previous post are very interesting, I have already talked in the forum, so I encourage anyone who hasn't posted anything to answer these questions so that we can all discuss them.

I will also add some interesting questions so that everyone has the chance to answer and leave his or her opinion.
  • How can we assimilate a technology with that amount of potential to affect industry, politics or even humanity?
  • How is it possible that in so little time we have attributed this technology the potential to change digital economy?
  • How can we fight ideas, which this technology entails, that question, redefine and change some basic elements of business and economy?
  • How to understand that this technology has solved every problem which digital transactions presented and has given reliance to all its users?
I again encourage everyone to share your opinion about these Blockchain doubts and post any idea that comes to your mind, because, as Enrique Dans said: "The future, more than ever, is for those who invest in understanding it."

Best regards,
Manuel Cortés (Spain)

Re: Economy
« Reply #3 on: 01 August , 2019, 15:36:58 pm »
Good afternoon everyone,

Blockchain technology has relevance for most of all areas, but because of its nature as a secure value exchange protocol, the most known are within economy. As we may know, blockchain has the capacity to decentralize economic activity, creating distributing P2P networks (peer-to-peer) of exchange. This webs offer the capacity to link individuals and small organizations directly into the global economy, greatly expanding their opportunity for economic developments. The blockchain has many applications for enabling the global economy of exchange, including its capacity to establish property rights where previously there were none and in enabling supply chain provenance.

The first components in enabling economic exchange in developments is the capacity to define and enforce property rights. In this respect, Hernando de Soto has been a prominent economist in highlighting the importance of ownership in economic developments. Then main message of the Soto's work is: "no nation can have a strong market economy without adequate participation in an information framework that records ownership of property and other economic assets." Unrecorded economic activity results in many small entrepreneurs who lack legal agreements of their property, making it difficult for them to obtain credits, sell their business or expand. Lack of information on income prevents governments from collecting taxes and acting in the public welfare. As Soto writes, the existence of such massive exclusion generates two parallel economies, one legal and other extra-legal. Traditional, top-down attempts have been both costly to implement on large scale and have been unsuccessful at increasing global property rights. A bottom-up approach instead follows a process wherein claims are made by individuals, verified by those affected, aggregated by the community and then brought to the legal authority. The blockchain user monitored digital registry is a kind of tool that allows communities to serve themselves in the face of unresponsive governments. One example of this is Honduras, a country with nearly 60% of its land undocumented, and antiquated artisanal land registry that is about bureaucrats to oversee land seizures for their personal use with a total lack of accountability. Under foreign pressure, a digital registry for the country, using blockchain technology, is being built in the coming years which will enable the people of Honduras to switch over to a system with the self-verification features of the blockchain.

Supply chains are of the primary areas of the blockchain has found application in, largely due to the fact that they involve many different organizations. Here, it works to improve collaboration by creating a single database and source of truth. It can reduce fraud and corruption, automate manual process and control for issues of authentication and trust, making what are currently obscure supply chains transparent and visible to end users. With blockchain technology, we can get a much more gradual view of the complete supply chain. We could record things like all of the manufacturing data for an aircraft assembly, where all the elements are or the subsystems have been in its journey from the original manufacturer all the way through to integration into the final aircrafts. The hashing and time stamping capacity of the blockchain mean we can record exactly who does what the asset over its lifecycle, with all the parties having access to and being able to trust this information.
Currently, supply chains for many organizations are very complex in a pack, given the fact that they have many tiers with many different parties involved. When something goes wrong, like a supermarket discovering food contamination, it can take weeks for them to dig through the complicated layers to find exactly where that issue came from. With the blockchain registry, you could know this information almost immediately.
A London-based company called ever ledger, has put more than 1.6 million diamonds onto a blockchain. Entries on the digital record include dozens of attributes for each diamonds, including the colour, carat and their certificate numbers, which can be inscribed into the stone by laser. They do this to make sure that there are no false diamonds entering into the supply chain. Effectively, the retailer can be sure of the complete audit trail or provenance of the diamonds they are buying and hence increase the value the diamonds through the improvement of trust and transparency.

There are many more examples of supply chain use cases across product based industries, as the advantages for businesses are quite clear, the trust between parties goes up because everyone knows who has done what to each asset, as it goes through its lifecycle. Everyone, including the end-user can know who has owned each asset, where it has been geographically and therefore the whole supply chain becomes much more efficient and transparent.

What do you think about this? Do not hesitate to leave your opinion here!

Best wishes,
David Corral Pazos

I leave here some websites in case you want to find more information.