Month: March 2017

The Mt. Gox incident – the largest bitcoin hack ever

An American software developer named Jed McCaleb founded a platform in 2006 named Magic: The Gathering Online eXchange. He set up the platform for secure exchange of trading cards used in a video game by the same name, using the domain name mtgox.com. This...

/ March 13, 2017

Canadian Securities Law (OSC statement) on Distributed Ledger Technologies (blockchain)

The Ontario Securities Commission (OSC) put up a press release on Wednesday (March 8th) containing cautionary advice against use of Distributed Ledger Technology or commonly the blockchain. In the press release OSC advises businesses using blockchain to offer securities, falling under the...

/ March 10, 2017

How blockchain is changing governance: Permissioned Blockchain

Permissioned blockchain arose out of the need of the public to interfere in private transactions. It is fundamentally the same concept as with the blockchain technology I previously wrote on. While the original blockchain allows all members to transact and verify transactions,...

/ March 7, 2017

How blockchain is changing the finance industry: Triple Entry Accounting

The blockchain technology brings in yet another revelation, this time in accounting principles. Enter the Triple Entry Accounting system. Compared to the traditional double entry accounting, triple entry brings in another dimension in the accounting process. In this article we will...

/ March 6, 2017

How blockchain is changing the legal industry: Smart Contracts

A smart contract is a self-regulated software which has it’s own impeccable sense of time, it is used to send automated electronic messages, either periodically or conditionally. Periods are based on specific intervals of time and conditions are reference to objective facts around...

/ March 2, 2017