Certainly one of my greatest needs for Africa is that we begin to strongly solve our personal problems using emerging technology. I firmly think another generation of problem solvers and revolutionary thinkers are properly prepared to implement designed solutions on the continent. Ultimately, these answers will end the pattern of poverty and corruption.
As it pertains to the Stone industry, there is number better time than today to use emerging technology to fix the extended running issue of conflict mining. By utilizing Blockchain we could eradicate the dishonest and forceful extraction of diamonds and different precious materials, that is often managed by rebel forces. Based on different study studies, these rebel makes can make everywhere from $3 million to $6 million each year from body diamonds. What is depressing is that much of the forceful labour is required on small and innocent civilians. Mostly in places just like the DRC, Sierra Leone, Angola, Main African-american Republic.
These rebel forces will make everywhere from $3 million to $6 million annually from body diamonds.
Searching the beginnings of diamonds hasn't been an easy or self-explanatory method, and for more than 100 years unethical individuals have were able to utilize the loopholes for their own benefit.
The good thing is the developments in
VidyCoin during the last few ages have presented better ways of processing information. My belief is that Blockchain engineering is really a pro-active way of enforcing transparency and rely upon the Diamonds industry. I will explain how below. (If you are unfamiliar with the engineering, this informative article provides a little more background)
One of the primary methods that comes to mind is TrustChain. Unlike a number of other Blockchains, this 1 is opposition to a "51 % bulk strike" as it presents an alternative party in the signing of each block. Thereby ensuring "Proof Confidence '.
Hacking a Blockchain
If you're thinking what that means, it applies to this popular issue; "Are Blockchains are very un-hackable? "
The fact is, their incredibly difficult to hack any Blockchain. Hacking anybody block will mean being forced to hack every previous and following stop before the following block is formed. That becomes exponentially difficult to complete as the chain of blocks grow.
Nevertheless, that does not mean a crack is impossible. A person or group of hackers can gain get a handle on if they can crack nearly all the network's hash charge to revise transaction record, this will reduce new transactions from being confirmed on the Blockchain. While this kind of assault is extremely unlikely and very difficult to execute, it is reassuring to understand that methods like TrustChain are designed to totally eliminate this possibility.