Google Labs Working On Blockchain, Distributed Computing

Storage may be a consideration when determining information included on-chain, particularly if the information recordsdata are large or change typically. Some states also embrace regulatory necessities for medical record storage that can affect selections regarding on-chain data. The Proof of Work consensus algorithm involves fixing a computational difficult downside to find a way to create new blocks, referred to as mining. Watch Abdullah Albeyatti, MBBS, BSc, MRCS, CEO and co-founder at Medicalchain, discuss with HIMSS TV about applying the technology to healthcare.

It could probably be helpful for everybody to have access to a decentralized source of record saying who owns a given parcel of land. The method could even have some humanitarian implications in scenarios where land has been redistributed with out due course of or compensation, such as during a war. The concept is that once land ownership has been agreed upon, it could be recorded in a distributed ledger and would not be subject to counterclaims. The Republic of Georgia has already adopted a blockchain-based land titling system, with the objective of lowering fraud and corruption in real estate.