Future Use Cases for Blockchain Technology: Proper Decentralized Crowdfunding

Crowdfunding is a way of decentralizing project funding by people who have creative ideas or have come up with a new product. Developing a prototype of this idea is time-consuming and usually paid out of the creator’s own pocket. Taking the idea or product mainstream requires additional funding, and rather than sticking to one or a handful of investors, crowdfunding is a preferred option. At the same time, the current model of crowdfunding is centralized, and blockchain technology can help decentralize the decentralization of funding.

The Centralized Way of Crowdfunding Today

Over the past few years, crowdfunding has become more and more popular for the everyday consumer. Even though there are still a lot of people who view backing a crowdfunding campaign as a cheap way to get a hot new item, the genuine interest in the projects is there. Every day, more and more crowdfunding campaigns go live, but not all of them reach their intended goal.

It should come as no surprise then that various crowdfunding platforms have come into life, so that project creators can be connected to potential investors. The beautiful thing about crowdfunding campaigns is that every individual can become an investor in the project, without having to spend thousands of dollars. Even the smallest contributions matter, and help the creator(s)r each their goal.

In return for pledging their funds to a crowdfunding campaign, individual investors will be eligible for rewards, either in digital or physical form. Backing a movie project, for example, will most likely include backer rewards such as a digital download of the movie, a DVD, posters, or even a mention in the credits at the end.

But there is a downside to the way crowdfunding campaigns are being conducted right now. There are only a handful of websites to host projects, which is leading to centralization of the entire crowdfunding idea. In fact, this is in stark contrast to the idea of creating a project backed by many individuals, rather than a handful of investors.

Platforms such as Kickstarter, IndieGogo and GofundMe are making all the headlines when it comes to decentralized project funding, yet in their own way, all of these platforms are centralizing the ideology of crowdfunding. Unlike most Bitcoin exchanges, or centralized traditional financial institutions, none of these platforms holds funds in advance. Money will only change hands if and when the campaign reaches its intended goal, after which card payments will be processed by third-party companies.

There are several issues with crowdfunding campaigns as well though. Nearly half of the funded projects never completes their goal of developing a physical project for the masses, yet collects all of the pledges regardless. For the investor, there is no way to charge back the money, as the chargeback grace period expired.

If there is one thing that is abundantly clear, it is that crowdfunding campaigns are a positive trend, yet they lack the transparency required towards their investors. This is where blockchain technology, with its transparent nature, could play a pivotal role in the evolution of crowdfunding.

Blockchain Technology Provides More Transparency

Platforms where creators can post their idea and raise money through crowdfunding can greatly benefit from implementing blockchain technology into their ecosystem. Not only will all investors be able to see when and where the raised money went to, but the blockchain can also be used as a bookkeeping tool.

Doing so would instill confidence in the creators of projects,a s they have nothing to hide and are willing to be open regarding how funds is being allocated. Additionally, it could use serve as a way to share project progression with the people who pledged money to the campaign, by using blockchain technology as a way to send and transfer data.

Last but not last, the blockchain can also be used for direct communication between project developers and individual investors. Rather than relying on centralized crowdfunding platforms to post campaign updates, blockchain technology allows for transparent and real-time communication between all parties.

What are your thoughts on using blockchain technology for crowdfunding campaigns? Do you see additional benefits to doing so? Let us know in the comments below!

Images courtesy of Chicago Tribune, Rude Bagette and Alphr

Future Use Cases for Blockhain Technology: Distributed Email Services

In this day and age, most consumers use email addresses on a daily basis. However, it has to be said that most of these email addresses are associated with a certain centralized provider. Internet service providers have their own email address extension, Google has one as well, and there are the university and high school email addresses as well. Yet in the end, all of them are centralized services, and the blockchain can change all of that.

Also read: Future Use Cases for Blockchain Technology: Copyright Registration

Centralized Email Address Services Prone To Government Intrusion

Regardless of which email provider a consumer uses today, all of these services are centralized in their very own way. Let’s take internet service provider mailboxes, for example, which are complementary when signing a contract with one of these companies. They offer a handful of free mailboxes to the customer, but there are strings attached that are not known to the end user most of the time.

The first issue arises in terms of the mailbox belonging to the internet service provider itself, which means they will log any and all activity occurring with those specific email addresses. For most consumers, this is not something to worry about, as they have nothing to hide. But the fact that ISPs can spy on everyday communication is a worrying fact to say the last.

Secondly, all of these internet service providers have to answer to the government of their respective country. Assuming the government would ask the ISP to turn over all information on their users, including logs of certain mailboxes, there is nothing that can be done about it. Major companies, including ISPs, have to comply with government regulation, which is a particular worry for centralized services.

But even if the consumer would pick a different email provider, they are still not out of the woods. Even popular mail services such as Google’s Gmail are subject to regulation and privacy intrusion, both from the company itself and government officials around the world. Centralized services are not safe, nor secure, and should be avoided whenever possible.

Unfortunately for the everyday email user, the number of options is fairly limited outside of using centralized services. Granted, there are offshore email providers that operate in areas where there is no governmental influence from other nations. Then again, using such a service is usually associated with criminals, terrorists, and people who have something to hide in general.

Blockchain Technology to Create Decentralized Email Service?

A solution to the problem of centralized email providers might just be around the corner. Blockchain technology, the same that powers the Bitcoin network is quite versatile in terms of what can be achieved. In fact, there are thousands of possible applications for blockchain technology outside of the financial ecosystem.

Creating a decentralized distributed email service is one of those examples. The blockchain uses wallet addresses to identify Bitcoin users on the network, and the same ideology could be applied to email services. Issuing email addresses over the blockchain, and using the underlying technology to ensure communication, could create a whole new paradigm of online communication.

Unlike centralized email service providers such as Google or an ISP, email communication over the blockchain is not subject to governmental influence. There is no centralized server farm to take control of in order to gain access to personal records, as the entire system is decentralized and controlled by the individual users and network nodes.

Granted, it will take quite some time until such a system will be developed and made available to the public. But when Satoshi Nakamoto created Bitcoin, the underlying thought has always been to push adoption of blockchain technology for all kinds of different use cases. And if Bitcoin itself can benefit from that stimulated growth, all the better.

What are your thoughts on using blockchain technology for email communication? Let us know in the comments below!

Images courtesy of Shutterstock and Gmail

Future Use Cases for Blockchain Technology: Digital ID Verification

The number of use cases for blockchain technology is nearly limitless, but there are certain aspects of life that could, and perhaps even should, benefit from this wave of innovation sooner rather than later. One of the more interesting use cases for blockchain technology is digital ID verification, which makes the entire online experience more user-friendly for the everyday consumer.

Also read: Verification Procedures Ruin Online Shopping Experience, Blockchain-Based Solution To The Rescue?

Trusting Third Parties With ID Verification Is A Bad Idea

Society has evolved in various directions over the past few years, and both online and mobile experiences are playing an ever-increasing role in our lives. That being said, most of customer internet usage still takes place near a computer, and most services and platforms being used do not scale properly on mobile just yet.

But there is a certain drawback to most of the features and platforms consumers use on a daily basis: they all need some form of verification or registration before they can be used properly. One thing that has become clear is that using just a username and password to access any service is far from sufficient these days.

Two-factor authentication is an additional step in the right direction of providing customer security, but that only protects the login part of the experience. The major problem lies with the services that require users to submit some form of verification to confirm their identity, both in the Bitcoin space and outside of the realm of digital currency platforms.

Consumers are forced to submit documents - such as an ID scan, copy of passport and even a copy of a credit card - to third party services for verification purposes. All of these documents are then stored on centralized servers, where they become a favorable target for hackers and hoodlums. For the end consumer, Identity theft is a serious problem, especially since the Internet became more and more popular.

Luckily for all parties involved, there is a solution around the corner that could solve all of the above problems while still ensuring security for both business and customers alike. Issuing identity verification through blockchain technology allows consumers to verify their identity while there is no centralized storage of identity documents involved.

Blockchain-Issued ID Verification Has Lots of Potential

Using a digital token issued on the blockchain to perform identity verification sounds simple in theory, but is a lot harder to pull off in the real world. Granted, the technology is there to be used, and it shouldn’t take a team of skilled developers too long to create a blockchain token representing a user’s identity.

In terms of using this token, the user would send that token to the service or company they are using and sign off on the transfer with their private key. Doing so would allow the customer to keep the information confidential, rather than relying on a third-party service or platform to store that data. All of the information associated with that token would only be visible for the sender and intended recipient.

To provide an additional layer of security, an oracle or escrow-type service could be implemented, where a computer verifies the customer’s identity by getting access to the ID token. Once the identity has been checked, that token is then sent back to the owner, and the business or platform is notified of a successful user verification procedure.

In a way, blockchain-based verification would bypass the need for centralized services, additional storage capacity and it could even remove the human element from the verification procedure altogether. However, there is still a lot of research to be done on how this solution could be tackled in a secure manner for all parties.

What are your thoughts on using blockchain technology for verification procedures? Let us know in the comments below!

Images courtesy of Shutterstock

Future Use Cases for Blockchain Technology: Copyright Registration

Ever since the Internet came around, one of the biggest concerns has always been regarding copyright and the impact of online piracy on the earnings of content creators. Over the years, services such as Napster and Gnutella have come and gone, resulting in people legally buying music through platforms such as Itunes, or listening to internet radio via Spotify. But despite best efforts in the fight against piracy, it remains a real threat to this very day. This is where blockchain technology could make a huge difference.

Also read: What Is Bitcoin XT & What Is Happening With Development of The Bitcoin Core

Copyright Registration Is A Strange Process

Until a few years ago, most researchers concluded that piracy only took place because people don’t want to pay for things legally, even if it is of a high quality. To a certain extent, that statement seemed to hold merit, as the “new generation” has grown up with platforms where nearly all content they want is available for free, or else they know how to get it for free.

Yet at the same time, there has been a growth in terms of “all-you-can-consume” content service providers. Netflix is a prime example of how people will gladly pay a fair amount per month to consume all the movies and tv shows they want, whenever they want, on whatever device they want. The same can be said for services such as Spotify, digital prints of newspapers and magazines, and many more services around the world.

Our society has been evolving into a creature of habit, where convenience trumps everything. All-you-can-consume services, which charge a fixed pay rate per month, are seeing great success due to that shift in consumerism. The everyday consumer wants access to the content they need wherever they are, at any time, and preferably on any device.

This brings us back to the topic of copyrighting content in a proper manner. Despite there being plenty of ways to get content legally for a minor amount per month, piracy is still a major threat to content creators. Not only is online piracy hurting the income of content creators - although the true impact will always be a topic of debate - but it also exposes some weakness in the existing copyright issuing protocol.

Depending on where an artist lives in the world, obtaining copyright for self-created content is done in various ways. Countries such as Canada, for example, will simply send a certificate by postal mail for the price of US$50, which then indicates said person has a copyright claim to the specific content. However, when it comes to exerting that copyright claim in court, a simply certificate is not always enough.

Especially when it comes to creating digital content, such as an e-book for example, it becomes incredibly hard to obtain copyright registration for that type of content. Most countries around the world will automatically apply copyright registration as soon as content appears in some tangible medium. Digital content, on the other hand, is never tangible, but that doesn’t mean copyright registration does not apply there.

Using Blockchain Technology For Copyright Registration

To make the process of copyright registration for digital content more user-friendly, blockchain technology be the key factor in solving the puzzle. Copyright registration is effectively creating a form of ownership of that content while timestamping it and then tying that record to the person/group responsible for the creation of the content.

Blockchain technology could be of great importance in this regard, as it serves as a public ledger. Contrary to popular belief, the blockchain is capable of far more than just recording financial transactions of the past, present and future. In fact, blockchain technology can be used to issue and transfer copyright registration of both digital and physical content, if so desired.

Rather than tying the copyright registration to Bitcoin - the currency - a new platform can be built on top of the blockchain. This platform could then issue a token, serving as proof of authenticity, in which a timestamped copyright registration is contained. Once that token has been issued to a certain person, it can only be transferred to someone else when the owner signs off on the transaction with their private key.

From a legal perspective, transparency in terms of copyright registration can help content creators to exert copyright claims once they see their work being pirated. Due to the blockchain’s transparent nature, issued tokens can be viewed by anyone in the world, and the timestamp attached to each token will indicate whether or not a copyright registration was in place at the time of the pirated content making an appearance.

Copyright registration by using blockchain technology will not just provide benefit to digital content creators, but to any type of media owner out there. Not just because it should, in theory, be cheaper to register the copyright on the blockchain, but also because it is far more transparent than the current infrastructure.

What are your thoughts on using blockchain technology to issue copyright registration? Let us know in the comments below!

Source: Wikipedia

Images courtesy of Shutterstock

Bitcoin: A Technological Innovation Restoring Peer-to-Peer Interaction During The Shopping Experience

Many everyday consumers view technology as a major obstacle to overcome. Despite best efforts by developers and engineers to make all of the online services as easy to use and streamlined as possible, those efforts do not translate into real life applications. For example, in order to pay at a cashier, you have to manually feed bills into a machine near the counter, as the cashiers do not handle funds directly anymore. Yet at the same time, this shows the potential for future technology to improve on the current models.

Also read: Blockchain Tech and the Wizardry of Sharing Economies

Less Peer-to-Peer Contact Due To Technology?

Upon entering any medium-to-large-sized store these days, one of the elements that are clearly missing is social interaction. Standing in line at the cashier used to be filled with conversations going on all around you, and every time the cashier would be up for a bit of chit-chat while scanning your products and handling your payment.

Our society, on the other hand, has been spoiled with various degrees of technological innovation that slowly removed the human interaction element from the equation. On top of that, we are all being pushed and driven to consume more at a faster rate, leaving little to no room for socializing while doing everyday things.

Shopping at most locations has become far less of a social experience, and more and more a financial matter. Which products are cheaper at which location, are there any discounts involved and how much budget do I have right now? These are all questions we find ourselves asking more and more, all the while ignoring the people around us.

Even though traditional grocery shopping is not always the best place to strike up a conversation, chances are high consumers will cross paths with people they know. Other than a friendly “hello” or even a nod, no conversations are taking place anymore these days. And that trend has been spreading from the moment someone enters the store all the way to when they leave the premises again. Most consumers don’t speak a single word during the whole experience.

An often heard complaint is how “unfriendly” most cashiers have gotten in recent years. And while that is certainly true up to a certain extent, it is just a reflection of how unfriendly the everyday consumer has become as well. To explain this change in behavior, people will look for a scapegoat. In this case, the obvious scapegoat is no one else than the new technology we all love to use, yet blame for everything when things go wrong.

It is hard to say whether or not this criticism stems forth from a lack of understanding how the technology works, or whether he implementations are all wrong. Going back to the earlier cashier example, once bank and credit cards started becoming more popular, the time for social behavior was cut down by quite a margin.

Back in the day when consumers were frantically searching their wallet for the funds required, they would more often than not strike up a conversation with the cashier to counter the awkward silence. But with bank and credit cards, all a consumer has to do is insert their card, press a code, pull the card out and take off with their groceries. There is no real reason to have a conversation, as these transactions take place instantaneously, and no money-scrambling is involved.

Cashless Society = Socially Awkward Society?

Most of the new technologies we face during the shopping experience all focus on the financial part. Granted, financial matters are near and dear to the hearts of all consumers, as well as the stores where the shopping experience takes place. Facilitating the transfer of funds from the consumer to merchant and vice versa has become more streamlined over the years.

From a consumer point of view, the financial aspect of the shopping experience has become more convenient. Rather than looking for bills and coins, consumers can now use a card to facilitate payments. And more and more people are taking a liking towards this “cashless” trend, because of its sheer convenience.

For the merchant, however, these new technological innovations are both a blessing and a curse. Granted, having to deal with fewer cash transactions cuts down on overhead costs in terms of contracting a money transport to pick up funds at regular intervals. On the other hand, more overhead costs are created because card transactions are subject to various degrees of fees per transaction. Furthermore, funds from card transactions will not be in the merchant’s hands until 30 days after the transaction, which may cause an issue with paying suppliers.

Not that any of that will bother the consumer, mind you, as all they want is to get in and out of the store with the things they need as fast as possible. Faster payment methods were only the first step towards creating a socially awkward consumer society, as people have clearly forgotten how to strike up a conversation during their shopping experience.

Bringing Back Peer-to-Peer Interaction

One could go as far as saying that the entire aspect of “peer-to-peer interaction” has taken a back seat in the life of everyday consumers. In fact, most of the consumers are relying on card and mobile payments these days, all of which have one major security flaw, which most people aren’t even aware of to this very day.

Card and mobile payments rely on a centralized infrastructure, which causes a lot of havoc when that system goes down for any period of time. Bitcoin, on the other hand, has no central point of failure, and will be accessible anywhere in the world, at any given time, by any given person.It is important to keep in mind that Bitcoin, as a currency, is not here to overthrow existing payment methods, but rather wants to establish its place as an alternative payment method.

From a technology perspective, Bitcoin - or to be more precise, the blockchain - can remove the security flaw associated with traditional payments altogether. Bitcoin’s blockchain has no central point of failure, and there are thousands of users all around the world supporting the network on a 24/7 basis. Even if half of those users would face an outage at the same time - an event that is highly unlikely - the blockchain would still be able to process transactions without a hitch.

To put that into perspective versus traditional card and mobile payments: both of these services rely on the existing financial infrastructure to operate. If a major bank has system issues, all of its customers are affected, and making either mobile or card payments is impossible for an unknown period of time.

Or to take things one step further, most countries have one major payment network handling card transactions, and another network for mobile payments. Either of these networks are centralized as well, and once they face an outage, that type of payment will be unavailable throughout the country for a period. Not the ideal situation, as you can imagine.

This is where Bitcoin - either as a currency, or as a technology - can play a major role in improving the shopping experience as we know it. Bitcoin a s currency represents the truest form of peer-to-peer payment interaction in a frictionless manner, just like in the “good old days”. And as a technology, the blockchain removes any central points of failure, offering a global network that is growing month over month.

Truth be told, Bitcoin has a learning curve, both for its currency and technology aspect. But then again, any type of innovation, big or small, has had that same learning curve, and consumers managed to overcome that hurdle. There is no reason for history not to repeat itself, but this time in a way that will change the financial infrastructure - and the social aspect - for good.

Technology should never be blamed for the way our society has evolved in recent years. The only reason we use this technology is because it facilitated the way we do everyday things. But in the end, the consumer is responsible for how they “live” the shopping experience. And most of those consumers have become socially awkward, to put it mildly.

What are your thoughts on the social aspect during your shopping experiences? Let us know in the comments below!

Images courtesy of Shutterstock

FinTech - The Rehashing of Old Payment Methods And Focus on Blockchain Technology

FinTech is a term that will pop up across the world more and more. There is no denying that the world of finance is desperately in need for a new breed of technological advancement, after being “stuck” in the same principles and systems for over half a decade. Mobile payments are often touted as an important aspect of FinTech, but how innovative are these payment methods really? Not as innovative as Bitcoin and blockchain technology, that’s for sure.

Also read: Apple Pay: Same Old Ball & Chain

Innovation in the Financial Sector At a Standstill

Whenever someone talks about how the current financial ecosystem is working fine the way it is, the reason for the lack of innovation becomes crystal clear. Whenever something is not utterly broken, there is no reason to fix it, right? Well, that is where most people are wrong, especially when it comes to the way finances are and should be handled.

Our society has been reaping the benefits of an established banking structure in most parts of the world while leaving some regions underbanked and even unbanked. In the Western world, it is only normal to open a bank account at a certain age, and use a bank card tied to that account. At a later age, having a credit card is less of luxury and more of a mainstream commodity in that part of the world.

All of this is in stark contrast to the unbanked and underbanked parts of the globe, where people simply don’t have access to a financial system as the Western world knows it. Granted, everyone can open a bank account, yet some governments ask for certain documents for a citizen to qualify for even having the right to get an account. Not everyone can or wants to provide that form if documentation, as it only gives the local government even more insight into their financial habits.

During the recent Greece crisis/debacle/charade, “capital control” was a very popular term. To put this in layman terms: money from outside of Greece was not being accepted, and Greek citizens could not transfer their funds out of the country either. Despite having a unified currency - the EURO, which is used in most EU countries - financial institutions prohibited moving funds outside of the country. Quite an astonishing feat in this day and age, don’t you think?

This begs the question why a currency such as the EURO was invented in the first placed. Creating a unified Europe was one thing, but giving most countries exactly the same coin was something entirely different. On the one hand, the EURO solved the problem of currency exchange requirements while traveling from one European country to the next, a welcome change in that regard might I add.

But on the other hand, it creates a closed down financial ecosystem in which all countries where the EURO is used are tied to the European Central Bank. Every individual country still has their own local bank branches, but they all answer to the European Central Bank as well. And as was seen during the Greek Tragedy of 2015, that European Central Bank held all the cards to bail out Greece or drop them from the EU. Such financial power in the hands of a handful of people is wrong, an abomination of power that invites corruption on all levels. But that is a discussion for another time.

So what makes Greece able to exert capital controls in their own country, despite having to answer to the European Central Bank? The answer to that is simple: Greece still had a stash of cash within their own ecosystem of banks and locked down all of that funds for a time. Even though those funds belonged to the customers of those banks, the Greek government exerted its absolute power of the money of individuals. Clearly, the current financial system is broken.

FinTech Innovation: Rehashing The Old Ecosystem Without Changes

Alas, the time has finally come for developers, financial institutions and engineers to look at the future and build new platforms, most of which are focused on mobile payments. With so many people carrying a smartphone with them every day, it only makes sense to turn that device into a form of payment sooner or later. And it has to be said, the everyday consumer is taking a liking to the idea of using their mobile device for payments.

In a recent study, it showed that consumers are not a fan of digital wallets at all. They feel insecure by storing all of that financial data on their mobile device, and giving out sensitive information to app providers. Oddly enough, those same customers have no problem linking their credit card or bank account to mobile payment options such as Paypal or Apple Pay.

There is nothing that makes a digital wallet more or less secure than the Apple Pay or Paypal applications, mind you. All of these services control the consumer’s details, including financial data and process it on behalf of the customer. And the worst part is, all of these services are centralized, just like the European Central Bank is a centralized institution.

FinTech is currently evolving in such a way that the new “wave of innovation” will focus on bringing many more mobile payment applications will be revealed to the public. To counter that statement, just because a new mobile payment application is launched, that doesn’t make it FinTech or innovation, as it is rehashing the same old payment methods.

Take any type of mobile payment application in the App Store of your mobile operating system, and 99% of them will ask the consumer to link their bank account, credit card or debit card to this “new” service. In the end, there is very little innovation going on in this regard, as consumers are still forced to rely on the existing financial infrastructure that has been around for 50 years, and has seen little to no innovation to speak of.

The New Breed of Technology Is Already Here

However, it has to be said that a small number of mobile payment options are looking at a brand new technology, called the blockchain. The term blockchain is related to Bitcoin, a disruptive digital currency that acts as a borderless payment method. No central authorities are involved, nor are there any banks issuing Bitcoin, as all aspects of this new type of economy are controlled by the individual users.

And this is what a lot of financial institutions are exploring at this very moment. Creating a more transparent system which facilitates the transfer of value around the world at far cheaper rates is a true innovation in the world of finance. Blockchain technology is an area of technology that was despised by financial institutions in the early days, but as the technology evolved, the same institutions started to see the benefits of working with the blockchain.

It will take some time until the first blockchain-based applications and platforms make it to the world of finance as we know it. But rest assured, there is a new wave of innovation just around the corner, which will not rely on the outdated financial infrastructure we have all grown accustomed to. The blockchain will change the world of finance as we know it, and there has never been a more exciting time for FinTech than right now.

What are your thoughts on the current state of FinTech innovation, and what type of blockchain-based solutions can we expect in the next few years? Let us know in the comments below!

Images courtesy of Shutterstock

Hewlett Packard Shows Interest In Bitcoin

It seems the company Hewlett-Packard (HP), is showing strong interest in Bitcoin and the technology behind it. The company tweeted out a HP blog article saying “ With Bitcoin, the contract is the entire transaction. Period.” The tweet leads to a written blogpost called “The Technology Behind Bitcoin Could Replace Lawyers, Too.” with a great deal of descriptive narrative on blockchain technology and smart contracts.

The financial system has changed and HP has recognized this. In the HP post the company says that we've all heard the “hype” of bitcoin, however their company believes the tech behind it is the “real promise.” Namely the blockchain and its ability to service smart contract management. The writer states:

“In Bitcoin, the contract is the transaction itself: one party sending another funds. But in commercial banking or investments, smart contracts could execute unknowably complex contingencies based on the terms of the contract, all in real-time, with total transparency to the agreeing parties.”

The company refers to the technology as “warp speed” in comparison to the financial and legal system of today. Wall Street, bankers and lawyers being said to be reaping in “small fortunes” on what the blockchain could do for free. Blockchain transactions are recorded on the longest ledger on the internet and cannot be tampered with. This keeps transactions very transparent to run and watch. Who watches the watchmen? Well, the blockchain does of course.

Hewlett-Packard showing support for Bitcoin and it's underlying technology shows the company has a keen interest in the protocol. On October of 2015 HP is expected to split from its product enterprise of computers, printers and services into two factions. The result will lead to two different publicly traded businesses. With many speculating that HP will focus vastly into the service and networking arena, the concept of Bitcoin could help them.

HP believes that Bitcoin is something Fortune 500 better look at. With quite a lot of innovation going into the technology it's only a matter of time that Fortune and others do notice. If just “ two nerds” succeed in this venture of making smart contract peer-to-peer and accessible. It's only a matter of time before “legions” of law officials and financial firms get disrupted. Not only the financial and legal industry of the past but also circumventing the IRS as well. 

“The question is: if two nerds on the Internet hold a transaction, does anyone care? The Fortune 500 had better. Innovators in the block chain space are experimenting with ways to use the protocol in B2B payments without all the usual limits on transaction volume. If they succeed, credit card companies, payments processors, and legions of accounting and law firms would be devastated.

That'll cost jobs but save billions for companies and individuals alike. But it also will increase the speed of transactions at all levels of the economy. With that kind of uptick in volume, the IRS might end up being the most disrupted entity of them all.”

Blockchain-based Smart Contracts Are The New Form of Buyer Protection

In this day and age where online commerce is playing an increasingly important role, one of the key topics of discussion is buyer protection. As consumers are entrusting their information to third parties, who not only have access to their location but also sensitive information such as ID scans and whatnot, which protects the customer if something goes wrong? Smart contracts, based on blockchain technology, may play an important role in the not so distant future.

Buyer Protection In Its Current Form - Semi-Adequate At Best

Buyer protection, or customer protection as it is officially called, come in many shapes, ways and
forms. In its theoretical form, buyer protection is a combination of various laws and organizations ensuring the rights of every consumer as well as fair trade practices. On top of that, consumer protection is meant to spur on competition and accurate information in any marketplace, whether this is online or offline.

Not only will buyer protection laws prevent business with less than kosher agendas to gain an advantage over competitors, but they will also protect the buyer in case of financial harm. After all, the consumer is the most vulnerable entity in our society, which is focusing entirely on consumerism and little else these days.

In fact, buyer protection is a form of government regulation, a term hardly anyone is fond of these days. However, someone has to provide the rights of every individual consumer, which means there has to be an overarching entity to enforce those rules. In our world, that overarching entity is the government, located in the country of the consumer.

Over the past few years, many business have actively started promoting consumer protection to show they have nothing to hide and are compliant with government regulation. In the online space, platforms such as eBay, PayPal and AlIExpress come to mind, as all of these services offer buyer protection.

Some of the topics covered by buyer protection and its associated laws range from privacy rights to fraud and misrepresentation. Especially when dealing with online services or marketplaces, those are some of the biggest threats to consumers on a daily basis. Add product liability and unfair business practices on top of that mix, and you can see why it is important to have a form of buyer protection in place at any given time.

Consumer protection laws vary from country to country, and a detailed oversight can be found on Wikipedia. But even though these laws may vary based on a consumer’s location, there is one thing in common: buyer protection around the world is not being enforced in a proper manner at this time.

Entrusting Third Parties to Settle Arguments

The major problem with enforcing buyer protection in this day and age is the fact it is handled by eBay, Paypal, and AlIExpress - the consumer has to rely on human input overseeing the dispute. And that, hopefully, lead to taking the appropriate action in favor of the consumer.
third parties. In the case of the examples as mentioned earlier -

And this brings us to the key problem: even though all signs point towards the seller being in the wrong, the consumer will not always be right either. Depending on the person reviewing your case, he or she may decide in favor of the seller despite an insurmountable amount of evidence stating otherwise.

Having a human element in delicate matters such as settling disputes and providing buyer protection is asking for trouble sooner or later. As much as we like to think otherwise, every human is corruptible or affected by outside influences. If the person reviewing your case is having a bad day, the buyer may very well received the short end of the stick, as that person “can not be bothered” with these cases at that particular moment.

Or what if the person reviewing your buyer protection claim is only starting out at this job and is unsure which guidelines to follow? Decisions based on a gut feeling are not the rights ones in these cases, as there has to be evidence provided by all parties involved. And that evidence can only point one way: in favor of the seller, or the buyer. If the person entitled to make the decision can not do the job adequately, a wrong decision can have major consequences.

To make matters even worse, cases of buyer protection can take quite a while to solve, once again because of the human element involved. A person has to review the cases, both parties have to submit documents after the facts, and the entire process can take anywhere from days to weeks and even months. There is a much faster way to settle these matters, and that is by letting computers take the role of arbiters, rather than humans.

Smart Contracts - The New Buyer Protection?

Smart contracts are a new breed of technology, which can make use of blockchain technology to
create digital and public records of transactions between multiple parties. The idea of smart contracts has been kicked around for a few year snow, even before Bitcoin came into the picture. It has been long overdue for a system that cuts out the human element from any type of verification procedure.

The idea behind smart contracts is simple: rather than having a human element facilitate, verify or enforce the negotiation or performance of any given contract, this task will be taken over by a computer. In an ideal scenario, smart contracts would conclude themselves automatically, without any delays for settling payments or delivery of goods. .

In most cases, smart contracts can provide the ultimate buyer protection, and do so in a transparent and speedy manner. Because computers can only operate on facts and logic, rather than outside influence or corruption such as the human element, there are nearly no delays in making a decision as to who is in the right. Additionally, smart contracts would drastically reduce the costs associated with contracting in general, which is an added bonus.

One of the main reasons why smart contracts have become a hot topic yet again is because of Bitcoin and the blockchain technology. Whereas it was previously impractical to organize smart contracts - on centralized servers to boot - the blockchain allows decentralization in full effect. Without a central point of failure to attack, blockchain-based smart contracts will always be executed, no matter what.

That being said, we are still a few months, if not years, away from a working smart contracts integration with an easy-to-use interface for the average non-techie consumer. However, once such a solution is available - which will most likely be based on blockchain technology - buyer protection will change for the betterment of all consumers around the world.

What are your thoughts on using smart contracts as a way to enforce buyer protection? Let us know in the comments below!

Images courtesy of Shutterstock

Verification Procedures Ruin Online Shopping Experience, Blockchain-Based Solution To The Rescue?

In this day and age, there are a lot of people who enjoy the online shopping experience. Looking for items you want or need has never been easier, and paying through a credit card or even Bitcoin to get goods delivered to your door is as convenient as it gets. However, most websites will require their customers to verify their identity sooner or later, which is a rather annoying process.

Also read:  THE ECONOMIC REFORMATION: A NEW NINETY-FIVE THESES

Online Shopping - Great, As Long As No Documents Are Needed

The convenience factor associated with online shopping from the comfort of your own home is unmatched. Browsing the internet for things you may or may not need, and having them delivered to your doorstep from anywhere in the world is an unprecedented feeling. And many people seem to be enjoying this experience above anything else.

Year over year, online shopping is on the rise, as people spend more and more of their funds to buy things online, rather than go to a physical store. There are a few simple reasons for that, with the most important reason being the fact you will immediately know whether the item you want is in stock or not.

Some people enjoy shopping at a physical location but are put off by the human interaction associated with this processed. In-store salespeople and even the cashier can make or break a shopping experience, and in most cases, friendliness or a kind word is nowhere to be found. This is a direct result of how our society has evolved over the past decade, with true human interaction taking a backseat to consumerism.

While checking off your shopping list by browsing the online stores, there is no element of human interaction required. Everything can be done at the customer’s pace, without having to worry about what anyone else thinks. Especially when it comes to shopping with family members, such trips can prove to be quite a hassle in a physical environment.

Last but not least, there is no such thing as having to wait in line while shopping online. Once a customer fills up their basket with all of the items needed, they can simply check out and pay for their order. Everything else will be taken care of by the retailer or merchant, and goods will be sent on their way accordingly.

Or that would be the traditional story, assuming the site you are shopping at will not ask the customer to verify their identity. While it is no secret that credit card fraud is a real plague for e-commerce websites, the legitimate first-time customers can be put off by these verification requests. After all, a third party you don’t know personally wants a copy of very sensitive personal information, and the customer has to trust them in making sure this information is not abused.

Outdated Verification Process Will Hamper Online Shopping Growth

Whenever an online retailer or merchant asks a customer to verify their identity, the same reason is given every time. Either this request is a result of a random security check or the order has been flagged for a potential fraud risk. Needless to say, in most cases, neither of these stories are true, as the retailer or merchant just wants to see whether or not they can obtain a copy of very personal information for unknown reasons.

Granted, credit cards - the most commonly accepted online payment method - were never designed to be used over the internet. A credit card is a very insecure payment method, as the card number, expiry date and CVV code are all clearly visible on the card itself. Even when using a credit card to make a purchase at a physical location, customers are entrusting the cashier with their credit card data. Not exactly the safest form of payment, either online or offline, but society has gotten accustomed to relying on this payment method.

Should your online order become the subject of such a verification procedure, most websites will ask the customer to send a copy of the front - and sometimes back - of their credit card. Once again, credit card information is clearly visible on the card itself, and complying with this request will give the merchant or retailer full details of your preferred payment method, with the option to abuse it.

Not all of these inquiries are of malicious intent, but there have been numerous stories of customers who see mysterious charges on their credit card after submitting verification documents to a website they ordered from. Most retailers will let you blank out part of the digits on the front of the card, as well as the CVV code on the back, for security purposes, though. But it is a security risk to keep in mind regardless.

On top of that, customers will need to submit a scan of their government issued ID or passport. It goes without saying that providing this document is a strange request, as a copy of an ID or passport can be used to steal a customer’s identity. And identity theft is on the rise as well, making it even more worrisome when a website asks for this critical piece of personal information.

Using Blockchain Technology for Verification and Rating System

Regardless of how you look at the verification procedures associated with online shopping, things will need to change sooner rather than later. Every time a merchant or retailer gets a hold of a copy of personal and financial information, the door is wide open for misuse, abuse and potential fraud of either money or identity.

Bitcoin’s underlying blockchain technology can play an important role in changing the verification procedure associated with online shopping and other online procedures. Not only is the blockchain more transparent than any other form of technology being used right now. Not just in the form of transactions and financial data, but it also opens up a lot of technological innovation opportunities.

Many people see the blockchain as a public ledger for Bitcoin transactions, but the technology itself can be used for nearly any type of service in the world. Possibilities range from stopping counterfeit products from entering the market to transferring digital ownership, and even online ID verification and reputation systems.

Rather than relying on customers submitting a scan of their ID/passport and credit card, blockchain technology technology can be used to create a form of “online user verification”, which is automatically submitted at the time of payment. This online identity would not be visible for everyone to see, as only the owner of this identification decides who data is being shared with. ANd because the information is stored on the decentralized ledger that is the blockchain, the merchant or retailer will never have access to sensitive details either.

On top of that, blockchain technology can introduce a rating system for online payments. In doing so, both the customer and retailer can see the other’s reputation, and base their decision to either buy or not buy on that reputation score. Imagine this system similar to how eBay feedback and reputation works, but on a scale that goes beyond one single platform and becomes usable on the entire Internet. All of your online actions will influence your online reputation, which is visible for everyone to see.

What are your thoughts on the verification procedure during online shopping? And would you like to see a blockchain-based solution in the future? Let us know in the comments below!

Images courtesy of Shutterstock

FinTech Innovation is Not Centralized, Blockchain Technology Could Be The Key To Success

When it comes to innovations in the financial sector, most experts are looking towards London, as it is the financial capital of the world. But these experts tend to forget that Fintech innovation can come from any corner of the world, as not all of the development focused in centralized in London itself. In fact, there are at least five major cities that could take the crown from London in terms of Fintech innovation in a few years from now.

FinTech Development Efforts Are Not Centralized

There are only a handful of places on this planet where the financial sector is seeing its biggest growth and largest untapped potential. Silicon Valley, despite being mostly tech-oriented, has played - and will be playing - an integral role in the future development of FinTech applications and platforms.

And who can forget about London, the world’s financial capital. Most companies that are exploring technology, in general, or FinTech more specifically, are opening up shop in London. The reason for that is simple: potential investors are just a few streets away, and there is a lot of money changing hands in the financial capital of the world.

In fact, there are people from all over the world flocking to either Silicon Valley or London in the hopes of hitting paydirt with their idea. And while a lot of those projects will receive funding or guidance in one way, shape, or form, not all of them come to fruition. That is not a surprise either, as most ideas sound good on paper but are far from applicable in the real world.

Despite what financial and technology experts may tell you, there is a lot more development going on in the world of FinTech outside of those two places, though. Neither place is a requirement to create a mainstream FinTech idea and see it come to life after a financial injection from interested parties. For all of the allure both London and Silicon Valley have, they may very well be overshadowed by other parts of the world in a few years from now.

The FinTech revolution is not centralized, but will take on a decentralized aspect, just like Bitcoin has done in recent years. This new business paradigm will allow anyone in the world to contribute to the greater financial good of the entire world. Whether that is with Bitcoin, blockchain technology, or something else entirely, the decentralization revolution is coming.

As a result of the decentralized nature of technological development, FinTech innovations are unique and diverse. Gone are the days where the financial sector was controlled by state institutions, as outstanding technology and ideal infrastructures are being created by people from all over the world.

European Cities Show A Great Interest in FinTech

It should come as no surprise to find out that Europe is warming up to new and disruptive
technological innovation. And the same countries that are embracing Bitcoin more openly are also the countries to drive FinTech innovation to new heights in the near future. All of the European cities with “dark horse potential” are capital cities of their respective countries, for obvious reasons.

Mobile commerce and smartphone usage for payments are seeing unprecedented growth in Spain. Record venture rounds are taking place in the city of Madrid, which is home to various FinTech companies -- including Coinffeine and peerTransfer. In fact, the Spanish Association of FinTech Technology (SAFT) was formed in Madrid earlier in 2015.

FinTech startups - just like Bitcoin startups - are facing a hard time navigating the regulatory and legislative requirements in Spain. This is in stark contrast to traditional Spanish banks’ eagerness to adopt new technologies. BBVA, one of Spain’s major banks, was the first to venture into the world of FinTech, which has also led the bank to explore options in the field of Bitcoin and blockchain technology.

A little-known fact is that the DACH region - Germany, Austria and Switzerland - is attracting a lot of FinTech funding in Europe. More particularly, Berlin is often referred to as a “startup capital” - or even “Silicon Allee” - as the city has a unique ability to bolster tech innovation in an efficient and quick manner. On top of that, Germany has a rich financial history, which gives FinTech startups a powerful weapon in their quest to disrupt the banking system as we know it.

Amsterdam is not only one of the Bitcoin capitals of the world, but it is also home to a massive FinTech startup ecosystem. With help and incentives from the Dutch government to create FinTech solutions, startups in Amsterdam have a leg up over other cities in terms of guidance and support. Plus, The Netherlands has a very straightforward tax structure that attracts a ton of international developers and companies.

Australasia Is Making Headway In The FinTech World

Other important parts of the world are Singapore and Sydney, both of which are making a lot of
headway in terms of FinTech innovation. Singapore government is pushing hard to bring financial innovation to the entire world in recent years, and revealed plans to inject US$166m in the growing FinTech ecosystem over the course of five years.

Most people in Asia are unbanked, which creates a lot of opportunities for disruptive financial technologies, like Bitcoin. In fact, Asia is the biggest Bitcoin market to this very date, as it gives people an option to use financial services without needing a bank account or credit card. According to unconfirmed reports, Asians will skip the entire - ATM and credit card generation - and transition to online payments right away.

Sydney, on the other hand, is a new face in the FinTech development race. That being said, there is a huge potential for Australia’s service industries as Sydney becomes a FinTech hotspot in the years to come. Being home to digital, professional and creative industries is a valuable asset to stimulate and bolster financial technology development.

Similar to Singapore, Sydney can count on support from the government in terms of FinTech innovations. Additionally, plenty of private organizations have pledged their support to this sector as well. The Asia-Pacific region is long overdue for financial innovation, and there is no more opportune time than now.

Bitcoin The Driving Factor For FinTech Innovation?

Even though FinTech innovation is not synonymous with Bitcoin in most cases, the underlying blockchain technology could prove to be a powerful ally for developers. WIth this transparent ledger capabilities, and instant transfer of funds from anyone in the world to any place in the world, the potential for this technology has yet to be unlocked.

As more and more companies and developers focus their attention on the FinTech sector, they will undoubtedly come across blockchain implementations at some stage. And as more creative minds attempt to harness that technology for the greater good of all of Earth’s population, it is hard to imagine a world where neither Bitcoin nor the blockchain will play an important role. 

What are your thoughts and predictions for the FinTech innovation sector? Let us know in the comments below!

Source: TechCrunch

Images courtesy of Shutterstock

The Blockchain: Towards Crypto-Sovereignty

This article was written by Sterlin Lujan

Bitcoin represents the epitome of success for blockchain tech -- but this is just the start. The applications for the technology are manifold. They can potentially solve a myriad of social problems, especially in regards to government corruption and inefficiency. This new direction in digital problem-solving will generate peace of mind in the populace because it will instill people with the near certainty that their institutions are being honest, forthright, and civil.

Also read: Gold-Backed Cryptocurrencies: Innovative or Redundant?

Bitcoin transactions showcase two elegant traits: they are anonymous and transparent. This means a person can maintain their privacy; however, if they are part of a business and they need to be open about their actions, they can provide public information on the blockchain. This implies no more secrets from them. No more machinations. No more indecency. The public ledger of the blockchain tells all, especially if public interest dictates the desire for that knowledge, and those businesses want to likewise prove their trust.

How Open Source Ledgers Remedy Corruption

Imagine a corrupt security firm or night-watchman government. The corruptions and evils of these agencies could easily be snuffed out by the protocols on the blockchain, because the protocols would act as guards against human error. In other words, the ugly portion of human behavior can be "controlled" without infringing on individual rights.

This is essentially a capitalistic fix. It creates a way for the market to regulate various organizations without resorting to anti-civilized barbarity. It is technological regulation. If people see an institution being nefarious or fraudulent via the blockchain, they can simply cease their business or boycott them. This occurs because the blockchain is an open source public ledger, which records all transactions in a transparent fashion.

This trait provides society with a kind of mass crypto-sovereignty. People can exercise total freedom, but maintain power over their economic and social interactions. It is a brilliant answer to the question of how society will run without the State, or how chaos can be mitigated in the absence of political control.

The Ghost Outside the Machine, and the Cryptoscopic Environment

Blockchain solutions are the apotheosis of digitally impelled self-ownership, and there will not be anything to stop the momentum. Like Julie Tourianski said of Bitcoin, blockchain tech is "the ghost outside the machine." It is the tool that annihilates the need for an overseer. It absolutely eliminates any incentive for control-freak personalities, because they can no longer thrive in the cryptoscopic environment.

Here are some examples of cryptoscopic transactions: the blockchain could be used to conduct audits without ever needing in a central planner. A business could handle this auditing process without having to engage in petty politics or deal with crippling bureaucracy. The tech could also allow people to agree on contracts, or sell titles and deeds, and share that information when necessary. Medical documentation could even be distributed safely. The options are legion.

These ideas, of course, are mostly speculative, but the answers are in the palm of humanity's hand. The technology exists. All that is left is to instill that idea that crypto-sovereignty is an important step for society. People only have to take the initiative, and move towards fulfilling their digital dreams of security and safety.

What are some ways you think the blockchain can improve society? Let us know in the coments below!

---

The opinions expressed in this article are not necessarily those of Bitcoin.com.

Digital Governance: Why Decentralization of Information Matters

With all of the recent talks and discussions surrounding governments, encryption, and the lack of transparency, something will have to change sooner or later. To come to a new level of transparency and understanding, a request has been made in both New York and Chicago for a form of digital governance.

Also read: Bitcoin: Where do we go When the Lights go Out?

Using Private Information To Craft Rules & Regulations

For as long as most people can remember, government officials have always been able to come up with new rules and regulations based on information only accessible to them. All of this was made possible thanks to the existing tight hierarchical system, which centralizes information and locks it down.

It goes without saying that many people are not exactly amused by this system, as the everyday person is forced to follow rules based on information they have no knowledge of nor any control over. In a way, this created a society where citizens are passive recipients, forced to live a life as determined by others.

To make matters even worse, government officials monopolize any response with the authority they are empowered with. Rather than opening up this slew of useful information to the relevant communities and creating a foundation for a fruitful dialog, the gap between government and everyday people only widens on a daily basis.

That being said, both Chicago and new York are looking at ways to implement a more modern and transparent system. None of this would be possible without the local communities, who have expressed their desire to connect with officials and the available information in a public manner. This change could serve a multitude of purposes.

First and foremost, making this information openly socialized keeps government officials accountable for all of their action. But what is more important is the basis for co-producing solutions to existing problems with an ever-dynamic team. Additionally, it will also help expose flaws and abuse of power in cities such as new York and Chicago, which will be beneficial to all parties involved.

Governance as a Social Network-esque Platform

With data openly available to both government officials and local communities, a form of governance as a social network is created. Even though that might sound scary at first, previous test projects have produced positive social results in unexpected ways. Having a fresh set of eyes to look at a problematic matter can do wonders, even when it comes to governance.

This change is governance comes at an opportune time, as both technology and transparency are evolving at an accelerated pace. In return, both of these values are being respected and requested more and more by the everyday consumer, leading to the decentralization of information and decision making.

Gone are the times when people had to attend occasional city hall meetings in the hopes of having a say on matters near and dear to their hearts. Even if someone did attend a meeting, their pleas would usually be ignored by government officials anyway. This will no longer be the case, now that communities and officials are in this together to come up with a creative solution.

Both New York and Chicago have tackled this problem by slowly reforming the 311 call center "institute" into a new platform with a Facebook-ish appeal. Additionally, citizens can help the New York City Council members decide how to spend their US$32m budget in their neighborhoods. This process of participatory budgeting is working out quite well so far.

Open Data Movement To Adopt Bitcoin Technology?

The first step has been taken by creating a form of a social network where information is shared and is freely accessible to everyone. But one has to think about the next logical step in the evolution of the open data movement. Bitcoin’s underlying blockchain technology could play an important role in that regard.

If there is one major fact blockchain technology has taught us, it is that sharing information on a global scale can lead to a unified point of view across the board. Granted, this will not apply to local matters per sé, but it opens up the door to invite a multitude of views and suggestions, which can all benefit communities around the world.

And even though governments and communities can adopt the blockchain without using Bitcoin as a payment method, decentralization is about much more than just information. Knowledge is power -- no one will deny that fact. But if we are truly on the brink of an open data revolution, alternate payment methods that operate in a decentralized manner should be one of the top priorities. And right now, Bitcoin is the perfect candidate.

What are your thoughts on the open data movement and creating social network-esque governance? Let us know in the comments below!

Source: TechCrunch

Images courtesy of Shutterstock

Vortex: Interactive Coding Education Robot for Kids

If we want Bitcoin and other technologies to improve our everyday lives and succeed in overcoming new hurdles in the future, educational efforts will need to start teaching kids to code at young ages. And even though some schools around the world are offering these classes already, the focus on coding at a young age will need to become larger and larger. Maybe Vortex can be of assistance to achieve that goal.

Also read: FBI Director Calls for Decryption Tools To Combat "Going Dark," Bitcoin Users Affected

Vortex: A Toy Robot Helping Kids Code 

Teaching children how to code at a young age may sound like a drastic measure, but it could offer many benefits. Not only will children learn how the world works in a playful manner through hands-on practice, but they will also be stimulated to embrace technology at a very young age. And what better way to present coding to children than by using an interactive robot? 

DFRobot, a company known for its line of robotic devices aimed at the educational market, recently unveiled its first interactive and programmable robot called Vortex. While Vortex is aimed at children of ages six and up, they will be able to control the robot through a mobile application, which is available on both iOS and Android.

Rather than controlling Vortex’s movements with clunky on-screen joysticks, children can tap the application’s screen to guide the robot in the preferred direction. Every tap on the screen is interpreted as a pre-configured command, which will be transferred to Vortex via Bluetooth. Additionally, Vortex comes with four pre-installed games, all of which can be customized by the children to create their own unique experience.

DFRobot’s CEO Ricky Ye explained to Bitcoin.com that the company’s goal was to come up with an interactive way to teach kids the inner workings of robotics. Due to the company’s vast experience in building educational robot kits since 2006, the most popular elements of previous products have been combined into one streamlined experience. 

Powering up the Vortex takes four AA batteries and the Vortexbot mobile app. DFRobot also wants to stimulate team play, as some of the built-in games require an additional robot toy to play. It is important to note that other games can be played independently, or against the robot AI. 

Programming the Robot With the WhenDo App

Playing some of the pre-programmed games is all fine and dandy, but Vortex really shines when children start to explore its coding options. By installing the WhenDo mobile application on a tablet or smartphone, access to a variety of tutorials is unlocked. Programming games is easy and intuitive to do, all the while children are effectively learning the basics of coding.

As you would come to expect from learn-to-code programs in this day and age, WhenDo offers a drag-and-drop interface to make the learning curve less steep. That being said, mastering this application without the help of a parent will prove to be quite the challenge for six-year-olds. 

  Kickstarter Campaign Is Live

So far, everything about Vortex sounds like a great tool and platform to learn children how to code at an early age. However, it will take a lot of time, effort and money in order to mass-produce these little robots, which is why DFRobot is running a Kickstarter campaign right now. With a crowdfunding campaign goal of GBP35,000 - of which GBP13,000+ has already been pledged - there are 33 days left to hit the target. 

Because the mobile applications for Vortex have already been developed and are available for download, it looks like DFRobot will do everything in their power to bring Vortex to market. If the crowdfunding campaign gets funded, orders will start shipping out by the end of October 2015.

Kid Developers are the Future of Blockchain Technology

Teaching children how to code at an early age will offer tremendous benefits to all aspects of life. And blockchain technology is one area that will greatly benefit the influx of new coders, as they try to tackle current problems. Our children are our future, and it is in our best interest to get them acquainted with technology as early as possible.  

Blockchain technology is being integrated into various aspects of our daily lives, ranging from monetary services to contracts and transfer of ownership. As we discover more of the blockchain’s potential, additional jobs will be created which need to be filled by a new generation of developers. Vortex could be a powerful tool to put young children on their path to becoming the next leading edge developer. 

Will you be buying a Vortex for your children? If so, let us know why in the comments below!

---

 Source: TechCrunch

Images courtesy of DFRobot, Vortex, Shutterstock