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Kathleen Martin
Guest
“We are in the midst of the digital revolution. The number of transactions that a global company completes every day is huge. Naturally, it is all conducted automatically using billing systems etc. However, all communications with a commercial entity begin with an agreement on the terms and conditions of the agreement and as long as this is formulated in human language, there will always be points that are overlooked and room for different interpretation of the text,” says Dror Bin, CEO of the Israel Innovation Authority. “Blockchain's digital smart contracts lead us to a new era thanks to the dramatic increase in the efficiency of transaction management and the high level of trust that can be created between the parties. Nevertheless, this field's great potential is accompanied by several risks. We are proud of the privilege we have had to support companies engaged in the core of this technology that is building trust between business entities in tomorrow's world".
"Already today, it's clear that blockchain is the next generation of the financial system", declares Eran Haggiag, CEO of Clear. Blockchain is a sophisticated computer technology that was invented by developers of the first virtual currency – Bitcoin. It is a method for encoding data (cryptography) in a way that enables visible and secure business activity via the internet and verification of transactions without the need for a central controlling entity.
"At the most basic level, the blockchain network allows us to change the reality in which we need central entities that everyone trusts (such as government entities or banks) to create agreement and trust around information like identity as well as ownership of assets and real estate etc.", Haggiag explains. The blockchain network enables the verification of all these details, not via a central entity, but rather, with a network that is operated by many different entities. By using advanced algorithms and cryptographic signatures, the network facilitates complete authenticity of information and prevents its deliberate disruption. As a result, in many ways, this system is more secure than centrally controlled systems. One day, all the world's financial records will migrate to this infrastructure – it's a real revolution".
Continue reading: https://www.calcalistech.com/ctech/articles/0,7340,L-3918939,00.html
"Already today, it's clear that blockchain is the next generation of the financial system", declares Eran Haggiag, CEO of Clear. Blockchain is a sophisticated computer technology that was invented by developers of the first virtual currency – Bitcoin. It is a method for encoding data (cryptography) in a way that enables visible and secure business activity via the internet and verification of transactions without the need for a central controlling entity.
"At the most basic level, the blockchain network allows us to change the reality in which we need central entities that everyone trusts (such as government entities or banks) to create agreement and trust around information like identity as well as ownership of assets and real estate etc.", Haggiag explains. The blockchain network enables the verification of all these details, not via a central entity, but rather, with a network that is operated by many different entities. By using advanced algorithms and cryptographic signatures, the network facilitates complete authenticity of information and prevents its deliberate disruption. As a result, in many ways, this system is more secure than centrally controlled systems. One day, all the world's financial records will migrate to this infrastructure – it's a real revolution".
Continue reading: https://www.calcalistech.com/ctech/articles/0,7340,L-3918939,00.html
