Nearly 99% blockchain project tells you they will upload something to blockchain. But why should all these be put on blockchain? What if the information is not true at the first place?
It sounds like Internet of thing to some extent. But a trustworthy blockchain project can’t allow anyone to upload anything to the blockchain. DGX, a Singapore blockchain company may be the first one who linked gold with blockchain. The process is that regulators, including gold supplier, hosting provider and audit, confirm the value of one gram of gold through continuing digital signatures. Then assets certification cards maintaining information transmitted like time stamp , the stock unit of the gold bar, the serial number of the gold bar, the basis of purchase, the audit document, the stored data, the digital signature of the regulators, etc., can be produced and uploaded on a database permanently. The transactions and transmissions record of gold are completely transparent, thus it could be under monitored which means no one could pretend he or she has more gold than what he or she really has.
All information based on authorities in the real world makes this gold truly valuable.
Blockchain can expand its full potential without linking with the real world.
Gold on blockchain is one of many blockchain projects, actually, all valuable physical things, say, antiques, paintings, artwork whose provenance are highly significant which should be on the blockchain to fight against counterfeiting. As long as good enough mount of authenticate information on blockchain, the following costs for buying art are able to low down. But the art industry is full of false information for about thousands of years.
Who can understand the importance of these than Freyrchain? That’s exactly why Freyrchain will verify information based on real world information first before uploading it to blockchain. Freyrchain will combine the physical world with blockchain technology to ensure everyone in the Freyr ecosystem can benefit from blockchain technology.
Maybe this dose not quit fit blockchain’s initial intention about anonymous and privacy. But it’s believed that in some industry, it’s a necessary basis for us to push blockchain forward.
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