A blockchain is an append-only transaction ledger. The ledger can be written onto with new information, but the previous information stored in blocks cannot be edited, adjusted, or changed.
Blockchain fundamentally transforms how transactions are made. This change is as big as how the combustion engine transformed the transportation industry, or how internet transformed communication. The best case in point to explain the success of blockchain is Bitcoin, which has a market cap of $120 billion (Aug 2018). Bitcoin is essentially an application based on blockchain technology, which has proved the viability of the technology.
Industries such as transportation, aviation, healthcare, education, banking & finances, logistics, insurance, and more are trying to find their way into capitalizing on blockchain technology.
Blockchain is still in infancy, regarding the maturity of the technology. Therefore, any company or individual getting onboard with blockchain will be an early entrant with a competitive advantage over most others. We at Fidenz understand this well. Thus, we invest time, energy, and resources to learn and master blockchain.
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed and a decentralized blockchain network. They render transactions traceable, transparent, and irreversible.
At Fidenz, we transform digital applications into true ‘trustless’ and decentralised solutions. Our expertise in Solidity and decentralised application design and development could help you to build real world blockchain based applications, which deliver true values of decentralised ledger technology. You may read more about our design approaches in this article.
dApps are digital applications or programs that exist and run on a blockchain or P2P network of computers instead of a single computer, and are outside the purview and control of a single authority.
Most dApps are web based, thus most apps are relying on web3.js, a library providing all necessary functions to interact with blockchain. We at Fidenz have been using web3.js since its inception, and have delivered many projects using this technology. We have contributed to dApp development community by building a wrapper around web3.js. You may find more information about that here.
We are collaborating with Diwala on a year long project which intertwine blockchain technology on skill verification.
Diwala primarily verifies skills of refugees and displaced people. Blockchain enhances such services.
Fidenz introduced blockchain technology at Google I/O extended Sri Lanka. We designed and built a blockchain based event registration and user management solution to enable participants the hands on experience of blockchain technology.