Blockchain

The Blockchain is a basic resp. meta technology. The Blockchain itself is composed from several technologies and at the same time influences further technological methods.

The components of the Blockchain are computer, decentrally structured data bases and clients which come together in a software environment.

The Blockchain can be compared to the origins of the internet. The internet is a network for exchanging information. The Blockchain can be seen as a network for transactions and is based on the internet.

There are different definitions of Blockchain depending on the point of view. The approaches depend on the application scenarios and partially overlap.

Technical definition:

The Blockchain is a decentrally structured and endlessly expandable list of data sets which are transparently and publicly visible and which are unchangeable.

Economic definition:

The Blockchain allows a pseudo-anonymous exchange of goods and services, and in the course of this eliminate the middlemen.

Legal definition:

The blockchain controls transactions between two participants with its unchangeable list. This makes it possible to dispense with an intermediary, such as a notary

Advantages of the Blockchain

The potential of the Blockchain is best summarized with the terms Security and Zero Marginal Cost Economy.

Each transaction is attached to the end of the chain of the previous information and can no longer be changed. As a result, the transaction history is unchangeable and unambiguously transparent.

The use of kryptographic procedures ensures that transactions can be carried out 100% secure in the Blockchain.

Middlemen who would either ensure the trust of both transaction partners or take over administrative functions are eliminated. This creates a maximally efficient process and therefore lowest possible transaction cost.

The technical term for this efficiency is known as Zero Marginal Cost Economy.

The Blockchain stands for: 

• Trust (without central contact)
  
• Security (integrity and protection from misuse)
  
• Transparency (forgery-proof)
  
• Transaction capability (automated)
  

We offer Blockchain Consulting

Blockchain can be used to create entirely new efficient applications or make existing applications significantly faster, better and cheaper.

We start with our approach in the consultation and guide you as our client until presentation. We have ressources for inhouse development and therefore fast implementation of your ideas.

An example of a first workshop could look as follows.

Contents for a Blockchain workshop example:

• Blockchain introduction
  
• Tokens und smart contracts
  
• Public und private blockchains
  
• Business models
  
• Blockchain use cases for your company (example application scenarios)
  

Development of Blockchain applications

The new direction offers decentralized, end-to-end solutions with competences in the areas strategy, technology, project management and software development.

So we have all the skills needed to develop a successful blockchain-based solution.

In general, a Blockchain project starts for us with an introductory seminar and strategic workshops. The goals must be clearly defined to go together in one direction.

We coach you in close and in-depth cooperation through the development phase to the testing of a dApp. 

Smart Contracts und dApps

With smart contracts completely autonomous machine-to-machine (M2M) interactions can be displayed.

What are Smart Contracts?

Smart contracts are intelligent contracts. They can be described as software scripts defining conditions for interaction between machines and therefore are used for executing transaction processes.

In this connection, every communication in the blockchain is called transaction which includes every secured communication, from ordinary recorded data through to the automated execution of complex business processes resp. rules. 

What are dApps?

DApp is the abbreviated version of a decentralized resp. distributed application. It is pronounced d-app similar to e-mail. The backend code of a dApp is decentrally stored in a peer-to-peer network.

In addition, a dApp contains frontend code and thus a user interface. This can be written in different languages and allows access to the application.