Tech Talk: Blockchain is the key to the future

By
October 27, 2015 22:28

“The blockchain is a shared public ledger on which the entire Bitcoin network relies."

3 minute read.



Smar phone  LG’s G Flex 2

Smart phone LG’s G Flex 2. (photo credit: Courtesy)

The Israeli start-up Wave, a Bitcoin technology developer, is one of the first two companies chosen to participate in the global Barclays FinTech Accelerator.

Wave, which took part in the accelerator that began Last July in New York and finished last week, has signed a cooperation agreement to continue working on the development of its products within the framework of the bank.

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Wave has plans to revolutionize global trade. Currently, most import and export receipts and paperwork for sea shipments are sent by mail and these papers need to be verified and signed before payment can be authorized. What the new start-up Wave proposes is that Bitcoin blockchain technology be used to help determine ownership of airway bills, which would greatly facilitate global trade.

According to bitcoin.org, “The blockchain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the blockchain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender.”

“Our goal is to completely eliminate the use of paper in international trade,” says Gadi Rushin, CEO of Wave. “Using paper generates avoidable costs, mistakes, delays and unnecessary risks. We use blockchain technology, which enables the people and organizations involved in international trade to transfer documents electronically in a decentralized manner. Wave’s system automatically confirms that a document is the original and is exclusively owned by the user. Currently, shipping companies rely completely on printed paperwork when containers are sent from one location on the globe to another. Wave has succeeded in maintaining existing labor practices, but has made shipping faster and more secure.”

“There is an extremely vibrant Bitcoin community in Israel,” says Manny Rosenfeld, chairman of the Israeli Bitcoin Association. “Israeli entrepreneurs are actively engaged in the development of innovative Bitcoin technologies and Rushin’s success proves that international banks understand the need for us to begin using blockchain and other unusual technologies that are being created by Israeli start-ups.”


Fantastic new product or just more of the same?


Samsung is continually coming out with creative new devices and the Galaxy Note 5 is one of Samsung’s two new elite devices. The design is similar to previous models, it has a slim profile and a quality finish.

Here’s a list of 10 things you might not have known about the Galaxy Note 5:

1. This device is mainly used by professionals in place of their notebook computers.

2. It has a 5.7-inch screen and is very convenient to use if your hand is big enough.

3. You can use the screen even in direct sunlight, which is a huge advantage.

4. If you insert the stylus in the phone backwards, you can damage the phone.

5. When you take out the S Pen, you can write even when the screen is off.

6. The camera takes really good pictures even in the dark.

7. The strong battery can last more than a full day with heavy use, and even longer in battery-saving mode.

8. The fingerprint mechanism has been improved and works extremely efficiently.

9. If you are a sworn Android user, then this is the ultimate device for you.

10. And as for the biggest question of all: Should you upgrade from a Note 4? Well, that depends on how fat your wallet is at the moment.

Price: NIS 3,790 Score: 9.5 If you run a young start-up, have developed an interesting app or have a question, please feel free to contact info@social-wisdom.com.

Translated by Hannah Hochner.


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