Blockchain Post-It Activity by https://padlet.com/audrey_low9/blockchain Internet of the Future en-us 2020-10-11 06:14:04 UTC 2021-04-30 03:33:27 UTC hello@padlet.com https://padlet.net/icons/png/267b.png Siti Rusydia AJ rusydiaaj https://padlet.com/audrey_low9/blockchain/wish/1472902652 1) As defined by PricewaterhouseCoopers, Blockchain Technology is a decentralized ledger of all transactions across a peer-to-peer network. Using this technology, participants can confirm transactions without a need for a central clearing authority. Potential applications can include fund transfers, settling trades, voting, and many other issues. 

This concept was first mentioned by Satoshi Nakomoto in his white paper about Bitcoin, in reference to the financial crisis and many bank closures in 2007-2008 and as a solution for it. In his literature, he detailed the whole system, from Proof -of-Work to Privacy and Calculations. 

Several other factors gave rise to the Blockchain Technology, such as the explosion of social media, internet and e-commerce. 

I believe the future holds many possibilities for Blockchain and it would be best to understand more about it.

2) How can blockchain technology be infused in the Social Sector?

]]> 2021-04-29 09:26:04 UTC https://padlet.com/audrey_low9/blockchain/wish/1472902652 Low Choong Huat https://padlet.com/audrey_low9/blockchain/wish/1472903714 1)Blockchain technology is a ledger database which is trustworthy, immutability and maintain privacy. It promotes peer to peer transactions  without an third party proofing. Instead it uses POW(proof of work) supported by a clever codes SHA 256.It has vast potentials of applications. I would think that more applications from this technology will appear in coming 2 to 5 years.While this technology provides a trust backing with clever codes and it starts to shape a new era of human behaviours. However it still does not address the fundamentals of "trust". Human greed cannot be address just by using technology.
2)How is the issues of energy consumptions and hoarding of resources in particular to the hardware needed to support mining being addressed?

]]> 2021-04-29 09:26:27 UTC https://padlet.com/audrey_low9/blockchain/wish/1472903714 Remy😊 https://padlet.com/audrey_low9/blockchain/wish/1472903850 Summary of what I have learnt:

1) Blockchain
-Once (just this morning) totally foreign concept till now, some understanding . Particularly intrigued to find out about "Bitcoin" and applauded the ingenuity of Mr Satoshi Nakamoto (whoever he or she might be..) to come up with the idea way back in 2008! 
-Some term/ terminologies and an overview of technicality related to it
-Insights to how it works, ultimately how it can/may work for me.
-Clarified areas; my impression of "peer-to-peer" concept was similar to the operations of paynow. Now I know it is decentralized,  governed by "clever codes" and protected by cryptography. Wonders of Hashing, it is like a set of  "Morse code" to keep the hackers away.
- Very pleased to be introduced to Tribe Accelerator and shall continue to explore this platform on the possibilities to tap on for social causes.
-Found assurance that technology can be utilized to safeguard public interests/health.

Questions
1) Possibilities of social enterprises to benefit from blockchains (in Singapore's context)?
2) Concerns in view of energy consumption of Blockchain Technology, as cryptocurrency is famously, or rather infamously hungry for energy still weighing its pros against cons, e.g. carbon footprints-> impact on the environment.
3) For a person who still finds sense of security, or rather false sense of security in cash money (and perhaps still hides money in biscuit tins) how do we go about convincing them to cross over and embrace the idea of cryptocurrency?
]]> 2021-04-29 09:26:30 UTC https://padlet.com/audrey_low9/blockchain/wish/1472903850 Chung Keong https://padlet.com/audrey_low9/blockchain/wish/1472903903 1) Very Technical - A Tech Tool formula to generate a futuristic currency

2) Is it substainable or tangible? ]]> 2021-04-29 09:26:32 UTC https://padlet.com/audrey_low9/blockchain/wish/1472903903 Eunice Wong https://padlet.com/audrey_low9/blockchain/wish/1472904056 1) Summary 
With zero background, experience nor knowledge pertaining block chain, today’s class provided a reservoir of insight pertaining block chain. What stood out for me pertaining block chain was the video exploring the usage of block chain in the food industry and the dire consequences and impact should it be mis-used, quoting the case of the milk powder incident. 

2) Question
Rather than a question, I was just reflecting on what would happen to those who are not IT-savvy (like myself, if the world goes into the aspect of complete crypto currency); what alternatives would there be. 

]]> 2021-04-29 09:26:35 UTC https://padlet.com/audrey_low9/blockchain/wish/1472904056 Kwek Hwei Min https://padlet.com/audrey_low9/blockchain/wish/1472904068 1) Summary of Blockchain
A database/distributed ledger that uses encryption technology to allow peer to peer transaction without the need for a 3rd party (eg financial institution), such that it is immutable, private and highly secure. Blocks(transactions) are added to the first genesis block to form an immutable chain.
Miners are nodes who try to add transaction into blockchain by validating it, the first one to do so will gets a reward eg Bitcoin. The block will be added to the chain if consensus reached. The longest chain will thus be the recognised one. This will solve the problem of double spending, which can happen in other non block chain digital transaction. This process is usually decentralised and trustless, hence very secure.
Blockchain technology can also be used in many other areas and industries to solve problem. An example is to track food (eg milk powder, wine, sea cucumber etc) from manufactured origin to point of sales to proof its authenticity and also allow faster tracing if anything goes wrong.  ICO (initial coin offering) is the way entrepreneurs raise funds for new blockchain solutions.

2) Question
When the quota of maximum amount of Bitcoins is reached in near future eg 2040, and the miners have no more incentive to mine, what will likely happen? Will the bitcoin proof of work be changed?

]]> 2021-04-29 09:26:36 UTC https://padlet.com/audrey_low9/blockchain/wish/1472904068 Jennifer Chan jenfeb2021 https://padlet.com/audrey_low9/blockchain/wish/1472904665 (1) In summary,  I understand blockchain concepts a little more - now 5pm on a scale of 2/5, was at 1/5 at 9am today. It's here to stay, like it or not, got to learn more about it to benefit from it. >> It is like the pillar of a building - a vital structure in the cryptocurrency world. It is key to secured P2P virtual transactions. How robust the mechanism is? I suppose, time will tell. One thing is for sure...the chain of thoughts of the brains behind the invention, is simply, PHENOMENAL!! How could a human come up with Blockchain?!

(2) Question (technically, just 1 qn on Mint) - 
While I read about it from the Satoshi bitcoin white paper, I saw Mint in the account you demo..who (which body) exactly is Mint? Is it regulated by an organisation? If cost is imposed by Mint for being the central authority, is it passed on to the users for transacting? If so, then wouldn't it be similar to having a 'bank' in between and not exactly solely P2P.

Thanks for the mind-boggling sharing today!]]> 2021-04-29 09:26:51 UTC https://padlet.com/audrey_low9/blockchain/wish/1472904665 Aik Peng aikpeng58 https://padlet.com/audrey_low9/blockchain/wish/1472905812 1) A block chain is a digital record of transactions. The use of digital signatures and hash functions makes the digital record extremely difficult to be amended by anyone. Thus, blockchains are very secure. Blockchain technology can be used in many areas: voting, food tracking, cyber security protocol, etc. Blockchains are also used in recording transactions made with Bitcoins.

NB. It is said that Stuart Haber and Scott Stornetta invented the blockchain in 1991.

2) No system is perfect. What is the future for Blockchain technology? Will it dominate the world forever? What other type of technology might replace it?

]]> 2021-04-29 09:27:15 UTC https://padlet.com/audrey_low9/blockchain/wish/1472905812 Wan Azreena Suleiman azreenasuleiman https://padlet.com/audrey_low9/blockchain/wish/1472906008 1) From what I've understood; blockchain technology allows direct transfers of data (including bitcoin) via P2P in an encrypted manner (cryptography)  

2) Based on the above, is there a possibility that the future of transferring of all kinds of data be done with blockchain i.e., sharing sensitive info like bank details, work-related content that are P&C via email or whatsapp? ]]> 2021-04-29 09:27:20 UTC https://padlet.com/audrey_low9/blockchain/wish/1472906008 Hwee Ng hweeng1309 https://padlet.com/audrey_low9/blockchain/wish/1472906038 1)Summary of what I have learnt:
Blockchain Technology is a great example of a new technological innovation replacing older, outdated ones. The fact that the system is decentralized & uses P2P technology is extremely appealing to the younger generations. From the videos, it seems likely to become a major big player in the way technology is used in everyday life in the not so distant future. I have a clearer understanding of the overall big picture of the structure of Blockchain technology. In order to be adept at using Blockchain, it is imperative to know the different types,  characteristics & functions of the various components (cryptography, keys, signatures, hashing etc). Satoshi's Bitcoin White paper provides comprehensive, valuable background information on Blockchain technology.

2)Questions on Blockchain:

-How could someone from a non-technical background with a fixed mindset who's used to doing things the old way, be persuaded to learn and use Blockchain? i.e. can it be made more appealing & less intimidating for those who aren't as technologically savvy?

- Apart from buying cryptocurrency, what are some of the most common & practical ways to apply Blockchain technology to life now & in the near future in Singapore?]]> 2021-04-29 09:27:21 UTC https://padlet.com/audrey_low9/blockchain/wish/1472906038 Su https://padlet.com/audrey_low9/blockchain/wish/1472906309 2021-04-29 09:27:27 UTC https://padlet.com/audrey_low9/blockchain/wish/1472906309 Alyssa https://padlet.com/audrey_low9/blockchain/wish/1472906428 1) I learned that blockchain is really complicated. There are blocks that make up a chain. The first block is called the Genesis block. Things that enter the blockchain cannot be erased. It's difficult to be hacked because it would be very tedious, as hackers would need to find ways to hack each part individually.  The transparency of the history of transactions increases accountability. However, it is still possible for people to cheat the system (and other humans) by replacing the product, copying QR codes, etc. Therefore, I conclude that blockchain can be very useful when used with the right intentions, but precautions and additional steps would be helpful in assuring end users of authenticity of products.
2) I don't really have any questions at the moment, thank you. ]]> 2021-04-29 09:27:30 UTC https://padlet.com/audrey_low9/blockchain/wish/1472906428 Nursafarah https://padlet.com/audrey_low9/blockchain/wish/1472907289 1. In my own  terms, I (think) blockchain is like paywave/paynow but without the financial institutions or organisations because its like transferring of transaction to one another. There are risks to it but they are getting popular with the advancement of technology. 

Also, it's cool to learn about the invention of blockchain databases and how the cryptocurrencies are invented such as bitcoin. It takes a great mind to create this invention. Salute to you Satoshi Nakamoto (wherever you may be).

2. If blockchain will be the norm, how will we educate the baby boomers and generation x as we know that they might shy away from learning new trends. ]]> 2021-04-29 09:27:48 UTC https://padlet.com/audrey_low9/blockchain/wish/1472907289 Mangeswary https://padlet.com/audrey_low9/blockchain/wish/1472908075 1) Summary
The first blockchain is known as Genesis
Focus on removing of the third party in the transaction process
Uses cryptography
Was created to counter hacking 
Is a technology that is being adopted by many especially firms in China to ensure product quality
 
2) Question
How soon will Blockchain technology become mainstream in the world?

]]> 2021-04-29 09:28:06 UTC https://padlet.com/audrey_low9/blockchain/wish/1472908075 Dawn Yap dawnyaptm https://padlet.com/audrey_low9/blockchain/wish/1472908480 1)Summary - it involves immutable peer-to-peer transactions in a decentralized environment using cryptography for tracking and security.
2) How is blockchain related to 
counseling?]]> 2021-04-29 09:28:15 UTC https://padlet.com/audrey_low9/blockchain/wish/1472908480 Goh Qiu Ting https://padlet.com/audrey_low9/blockchain/wish/1472908968 1. Summary of what I have learnt:
Blockchain is a technological database. It is an open source software that can be accessed worldwide via peer-to-peer networks. There is no central governing body to regulate processes. There are 4 different kinds of blockchains:
public-permissionless,
public-permissioned,
private-permissionless
and private-permissioned.

Secure Hashing Algorithm (SHA 256) is used by Blockchain. It produces irreversible and unique hashes, consisting of 64 characters, so that there is little chance of duplication. This also deters possible hackers from trying to beat the system.

In Singapore, start-ups using blockchains are supported by an agency called Tribe Accelerator. I am heartened to know that! Also, my main takeaway today was the video showing how Blockchain technology helped to fight fake  food scandals in China. It added a layer of legitimacy to consumer products and gained the trust of consumers again. Learning the  real-world applications of Blockchain would allow me to appreciate the technology better, though I know venturing into Bitcoin / ETH is something I probably will not do in the near future.

2. Questions on Blockchain
i. What other real-world applications are there currently? 
ii. What are some emerging trends of Blockchain technology that we may see 10 years from now?
iii. With the rise in cryptocurrencies and the focus on them (as opposed to Fiat), won't there be anxieties stemming from economic insecurities and subsequently widening inequalities between the super rich and the sandwiched middle?

]]> 2021-04-29 09:28:27 UTC https://padlet.com/audrey_low9/blockchain/wish/1472908968 Prabin Sultana parbinxsultana https://padlet.com/audrey_low9/blockchain/wish/1472909123 1) Summary

Blockchains make it easier, faster, and cheaper for us to directly verify that a piece of data is true. This can potentially replace trusted 3rd party/ central institutions like banks and governments, and big internet platforms, serving as intermediaries. In a blockchain we can embed this power to verify that data's true in software programs or machines (nodes), which makes it possible for them to, say, continue with a next step in a business process. There can be 4 types of Blockchains. 
It is characterized by use of cryptographic algorithms, hashing with public/private key combination for peer to peer communication and use of distributed ledger concept on the tenets of consensus, trustless and immutability for decentralization. Mining is an essential component of Blockchain that drives peer to peer process of solving complex mathematical problems not done manually but powerful computers. Miners are participants in this solving a computational puzzle called proof of work.
Blockchain emerges as the essential supporting mechanism for a new digital currency called Bitcoin, a new form of peer-to-peer electronic cash, that could be used without any intermediaries or governing authority. 
Blockchain has practical use in food supply chain, financial sector and global distribution.

2) Question
With no central controlling or governing body and transcending national borders, there are apprehensions that Bitcoin and other uses of Blockchain can be used for money laundering, terrorist funding and non-legitimate purpose. How do we plug these loopholes in future?]]> 2021-04-29 09:28:30 UTC https://padlet.com/audrey_low9/blockchain/wish/1472909123 Linda Odelia Poh https://padlet.com/audrey_low9/blockchain/wish/1472912525 1. Summary Of What I Have Learnt:
To me, blockchain is a digital platform that records data and transactions. These data and transactions are created in blocks that are linked to form a chain. These blockchains record transactions made with cryptocurrencies such as bitcoins.
2) Questions:
- Is blockchain reliable?
- Apart from the financial sector, which business industry will find using Blockchain more relevant?]]> 2021-04-29 09:29:52 UTC https://padlet.com/audrey_low9/blockchain/wish/1472912525 Goh Jia Ling jialinggoh95 https://padlet.com/audrey_low9/blockchain/wish/1473005938 1) Summary: I learnt that Blockchain is a database ledger that is extremely secure; it requires users' unique digital signatures and keeps their identities confidential throughout the various transactions. It interests me to know how the system is based on cryptographic proof rather than trust. In the same vein, as a user (and a human), human errors are bound to occur and thus knowing that I do not have to go through an intermediary during transactions would allow me to feel more at ease. I also understand that the process involves the input of data (no matter the length of the text), which uses the Secure Hashing Algorithm (SHA 256) to convert it into a unique 64-bit text. From reading Satoshi Nakamoto's white paper, what intrigued me about the technology is how hackers/attackers would  perhaps think it makes more sense to generate new coins instead of compromising the system/other users, which is a smart approach to prevent fraud. 

2) Question: 
-Blockchain / cryptocurrency can still be quite a mind boggling concept for many, in terms of usage, and predictions. It's definitely going to be the next big thing in the coming years (if it isn't already), so how can people keep up with it and not be fearful of the transition/change? And especially seeing that it can be potentially used to make purchases in the future (like fiat currency).]]> 2021-04-29 10:05:41 UTC https://padlet.com/audrey_low9/blockchain/wish/1473005938 Lee Kuo Yao https://padlet.com/audrey_low9/blockchain/wish/1473041009 1) Summary
The beauty of Blockchain is that it is a technology where there is no centralised authority to validate and verify the transactions, yet every transaction in Blockchain is considered to be secured and verified. With the sophistication and multi-chain block consisting of nodes in the network, it discourages hackers from breaking it. Blockchain has many uses, but predominantly used in Crytocurrency. Blockchain has been seen to disrupt the financial industry as in FINTECH. In  today’s session I have really learned more about the technical terms and details which I would normally not have gone deep into on my own.

2) Questions
Do you foresee that Blockchain technology security would be compromised one day when there are hackers equipped with more powerful computing power? How far down in time do you think this would happen? 

]]> 2021-04-29 10:19:51 UTC https://padlet.com/audrey_low9/blockchain/wish/1473041009 NurEliza https://padlet.com/audrey_low9/blockchain/wish/1473987021 (1) Summary of What I Have Learnt

(i) Blockchain’s historical origin was documented in the White Paper in 2008, from the creator Satoshi Nakamoto, who advocates peer-to-peer version of direct electronic cash payment from one party to another (Bitcoin) without any dependency or attachment with an intermediary such as financial institutions which traditionally served as trusted third parties to process such electronic payments.
 
(ii) With the rapid development of internet in 1983 and related  rise of ecommerce and social media, this spur further development in the technology of Blockchain (or also known as Distributed Ledger Technology - DLT).  
  
(iii) However, although there is no existence of a central authority to validate and verify cryptocurrency transactions, it is reassuring to know, from the lesson today, that every transaction in the Blockchain is considered completely secured and verified, thanks to Consensus Algorithms.  A procedure through which all the peers of the Blockchain network reach a common agreement about the present state of the distributed ledger.  Now, data is immutable, validated and recorded.  Digital transactions are now be easily tracked.
 
(iv) Last but not the least,  Blockchain has benefits which can bring changes to consumers, businesses, trade and ecosystem such as (1) Everledger (to store product information and tracking of unique items of values such as arts and cars), (2) revolutionize cross-border trade digitalization, and last but not the least (3) Humanitarian aid.

(2) Question on Blockchain
How has Blockchain helped to mitigate the impact of current  Covid-19 climate and vaccination supplies on unified global front?

(3) Sharing ðŸ˜ƒ
]]> 2021-04-29 14:26:12 UTC https://padlet.com/audrey_low9/blockchain/wish/1473987021