Blockchain: Distributed Shared Ledger Technology
Blockchain is changing more than just cryptocurrency - discover how this technology has the potential to revolutionize almost every industry sector.
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Deep Tech Focus #3 – Blockchain
Defining the Space
If you merely equate blockchain with Bitcoin, you’re missing the infinitely bigger innovation that underlies this core technology. Blockchain is an innovative, distributed shared ledger technology that enables transactions and tracking of asset ownership.
To unpack that:
- Distributed and shared means that anyone can access it, but no single user controls it.
- Transactions can mean sales agreements, exchanges of records, and more (see below).
- Assets can be anything—yes, cryptocurrencies, but also securities, contracts, medical records, contracts, escrow, digital identifies, and more. Virtually anything of value can be tracked and traded/exchanged on a blockchain network.
In Our Portfolio
AVG Portfolio Companies in the Blockchain Space
These are just a few of our portfolio companies putting blockchain technology to work:
- Algorand develops next-gen blockchain tech centered around a novel, more scalable, faster, and more efficient consensus protocol based on proof-of stake.
- Everynym is a decentralized, blockchain-based digital-identity solution that gives users control of their own identity at all times.
- Molten empowers media artists and businesses with a complete blockchain infrastructure to directly publish, license, and monetize their content (text, audio, image, video, VR).
Innovations in the Wings
- Blockchain will be more widely accepted as its advantages and uses grow more apparent to various industries.
- Computer processing of blockchain will grow more efficient, and energy consumption will be reduced.
- Cryptocurrency will offer companies and consumers cheaper and more flexible means to transfer money.
- Blockchain will be used by more companies and increasingly individuals to record, access, and protect data without it being corrupted.
- Some intermediaries may find themselves disrupted.
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