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‘The China equity trade is back’ and here are the stocks to pick, says SocGen
Fri, 07 Jun 2024 11:10:00 GMT
Analysts are getting increasingly more positive about Chinese stocks.
Match ID: 0 Score: 40.00 source: www.marketwatch.com age: 0 days
qualifiers: 40.00 china
The Justice Department Took Down the 911 S5 Botnet
2024-06-07T11:04:46Z
The US Justice Department has dismantled an enormous botnet:
According to an indictment unsealed on May 24, from 2014 through July 2022, Wang and others are alleged to have created and disseminated malware to compromise and amass a network of millions of residential Windows computers worldwide. These devices were associated with more than 19 million unique IP addresses, including 613,841 IP addresses located in the United States. Wang then generated millions of dollars by offering cybercriminals access to these infected IP addresses for a fee...
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Police say spectators ‘turned their backs toward the pitch and did not stand for the playing of the national anthem’
Three people have been arrested for turning their backs and remaining seated when China’s national anthem was played prior to Hong Kong’s home World Cup qualifier against Iran, police have said.
Football spectators in Hong Kong used to boo the Chinese anthem as a show of political discontent, but the government banned the practice in 2020 as part of a wider crackdown after huge democracy protests in the city.
Continue reading...Democracy campaigners welcome move by Lord Sumption and Lord Collins, who cited political situation in statement
Two of the last remaining British judges to sit on Hong Kong’s top court have resigned, with one citing the political situation in the former colony.
Lawrence Collins and Jonathan Sumption, former UK supreme court justices, announced their resignations on Thursday. “I have resigned from the court of final appeal because of the political situation in Hong Kong, but I continue to have the fullest confidence in the court and the total independence of its members,” Lord Collins said.
Continue reading...Although women are helping to address a desperate labour shortage, they face resistance in a sector dominated by men
With one last heave, Mayumi Okada launches a heavy, sopping wet rope into the Pacific Ocean. As a fresh afternoon wind forms frothy crests on the waves, her husband, Kuniaki, leaves his cabin, peers over the edge of their boat and confirms that the latest batch of oyster “spat” larvae is in position, ready to mature into the plump, highly prized bivalves associated with this region of north-east Japan.
Three years ago, the couple abandoned regular careers to build a new life in Tomari, a tiny coastal community 500km (310 miles) north of Tokyo. Kuniaki, 54, had always dreamed of earning a living going out to sea. Mayumi was supportive, but she also had maritime ambitions of her own.
Continue reading...Microsoft recently caught state-backed hackers using its generative AI tools to help with their attacks. In the security community, the immediate questions weren’t about how hackers were using the tools (that was utterly predictable), but about how Microsoft figured it out. The natural conclusion was that Microsoft was spying on its AI users, looking for harmful hackers at work.
Some pushed back at characterizing Microsoft’s actions as “spying.” Of course cloud service providers monitor what users are doing. And because we expect Microsoft to be doing something like this, it’s not fair to call it spying...
Sanmu Chen appeared to write the date of massacre in the air as anniversary becomes increasingly sensitive in Hong Kong
Hong Kong police detained an artist on Monday night after he appeared to write “8964” in the air with his hand, a reference to the date of the Tiananmen Square massacre, hours before Tuesday’s 35th anniversary.
Public acknowledgment of the events of 4 June 1989, when Chinese soldiers shut down a weeks-long peaceful protest with violence, killing anything from several hundred to several thousand people – is banned in mainland China and increasingly sensitive in Hong Kong.
Continue reading...We would like to hear from British Indians across the UK about their thoughts on the election result in India
We would like to hear from British Indians across the UK about their reaction to the election result in India declared on Tuesday. Prime Minister Narendra Modi’s Bharatiya Janata party (BJP) retained power in the national elections by winning the most seats, but not enough to pass the 272 parliamentary majority mark. Modi was forced to rely on coalition partners to return to power.
The opposition alliance, which goes by the acronym INDIA, collectively won more than 230 of the total 543 seats.
Continue reading...  | submitted by /u/branstarktreewizard [link] [comments] |
Smaller allies emerge as powerful kingmakers in effort to form government before swearing in of PM
Narendra Modi is facing the first test of coalition politics after losing his outright majority in the Indian election, with smaller coalition allies emerging as powerful kingmakers in the formation of the government.
Modi’s Bharatiya Janata party (BJP) won the most seats in the election results declared on Tuesday, but not enough to pass the 272 parliamentary majority mark, forcing it to rely on coalition partners to return to power.
Continue reading...In today’s newsletter: After pollsters and pundits predicted a sweeping victory that never came, is India’s prime minister entering his final act in politics?
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Good morning.
For months, the consensus was that India’s Bharatiya Janata party (BJP) was going to win a thumping majority in the general election. A few days ago, exit polls indicated the BJP was going to secure a sweeping victory, and could even gain seats to win a two-thirds majority in parliament. The party’s confidence came through most clearly in its highly publicised goal of winning 400 seats.
Israel-Gaza war | At least 30 Palestinians including five children have been killed in an Israeli airstrike on a UN school housing displaced people in al-Nuseirat, in the central Gaza Strip, medical officials have said, with dozens more wounded. The Israeli military confirmed it had targeted a UN school in al-Nuseirat, saying it had been housing Hamas terrorists from the 7 October attack on Israel who were planning further attacks.
Wales | The Welsh first minister, Vaughan Gething, has lost a no-confidence vote less than 12 weeks after taking office, following a series of scandals that have called into question his judgment and transparency.
General election 2024 | The UK Statistics Authority has opened an investigation into remarks made by Rishi Sunak about the economy “going gangbusters” amid concerns that politicians could misuse economic data in the run-up to the election. The watchdog’s intervention came soon after the chair of the organisation began a review of Sunak’s claim that the Treasury calculated that Labour would raise taxes by £2,000 for everyone if it won the election.
Climate crisis | Fossil fuel companies are the “godfathers of climate chaos” and should be banned in every country from advertising akin to restrictions on big tobacco, the secretary general of the United Nations has said while delivering dire new scientific warnings of global heating.
NHS | A cyber-attack thought to have been carried out by a Russian group has forced London NHS hospitals to resurrect long-discarded paper records systems in which porters hand-deliver blood test results because IT networks are disrupted.
Continue reading...Strongman-style leader set for historic third term but with authority diminished after loss of majority
Narendra Modi has secured the backing of his political allies in order to form a government and is expected to be sworn in over the weekend, after a dramatic election in which his party failed to secure an outright majority.
At a meeting in Delhi after Tuesday’s shock results, parties in the National Democratic Alliance, which is led by Modi’s Bharatiya Janata party (BJP), pledged their support to Modi and backed his return as prime minister for a historic third term. “We, the leaders of the NDA, unanimously elect Narendra Modi as our leader,” the party leaders said in a resolution.
Continue reading...Anger at rampant unemployment, stagnant wages and inflation led to surprise losses in Uttar Pradesh
It was less than six months ago that Narendra Modi walked solemnly through the ornate surroundings of the Ram Temple in Ayodhya, in Uttar Pradesh, India’s most populous state and one of its most politically crucial. His appearance in the holy city to inaugurate the newly constructed Hindu temple, built on the ruins of a mosque demolished two decades earlier, was cast as the pinnacle of the prime minister’s decade in power – the crowning glory of his Hindu nationalist agenda and his ticket to a third term in office. The ceremony was deemed to mark the unofficial launch of his election campaign.
But on Tuesday evening Modi was faced with a rude awakening. His Bharatiya Janata party (BJP), which has ruled India with an iron grip for a decade, has lost its majority as a single party and will have to rely on coalition partners to return to government. The losses were particularly heavy in Uttar Pradesh, long considered to be the BJP’s bastion – and nowhere more so than in Ayodhya.
Continue reading...Latest results reveal unexpected blow to PM, forcing negotiation with coalition partners to regain power
Narendra Modi’s ruling Bharatiya Janata party has lost its parliamentary majority, dealing an unexpected blow to the prime minister and forcing him to negotiate with coalition partners in order to return to power.
With all votes counted early on Wednesday morning, it was clear that the landslide for the BJP predicted in polls had not materialised and instead there had been a pushback against the strongman prime minister and his Hindu nationalist politics in swathes of the country.
Continue reading...Narendra Modi says India has placed its faith in the ruling coalition ‘for a third consecutive time’, as figures show his BJP party unlikely to secure an overall majority
Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP)-led alliance, the NDA bloc, is enjoying an early lead as votes are counted, pulling ahead in 154 seats of the total 543 in the lower house of parliament.
Early trends show the opposition INDIA alliance leading in 120 seats.
The first votes counted are postal ballots, which are paper ballots, mostly cast by troops serving outside their home constituencies or officials away from home on election duty.
This year, postal votes were also offered to voters over 85 years of age and people with disabilities to allow them to vote from home.
According to some exit polls, Modi and the BJP could be headed for a two-thirds majority in parliament, giving them an even stronger victory than in the 2019 elections.
Continue reading...Uncrewed Chang’e-6 lander is carrying rock and soil samples in ‘very important achievement’ after lunar liftoff
China’s uncrewed Chang’e-6 probe is on its way back to Earth carrying the first samples from the far side of the moon, in a major achievement for Beijing’s space programme.
The probe landed on the lunar surface on Sunday, within one of the oldest craters on the moon – the South Pole-Aitken (SPA) basin – then spent two days gathering rock and soil samples using its drill and robotic arm.
Continue reading...Trump fans say his conviction is an overreach. But a close look at another recent fraud trial shows his case was run-of-the-mill.
The post To Understand the Trump Verdict, Look at the Case Against Shukhratjon Mirsaidov appeared first on The Intercept.
Critics label as ‘absurd’ idea from government-backed thinktank as country seeks to address population decline
A government thinktank in South Korea has sparked anger after suggesting that girls start primary school a year earlier than boys because the measure could raise the country’s low birthrate.
A report by analysts at the Korea Institute of Public Finance said creating a one-year age gap between girls and boys at school would make them more attractive to each other by the time they reached marriageable age.
Continue reading...I don’t think it’s an exaggeration to predict that artificial intelligence will affect every aspect of our society. Not by doing new things. But mostly by doing things that are already being done by humans, perfectly competently.
Replacing humans with AIs isn’t necessarily interesting. But when an AI takes over a human task, the task changes.
In particular, there are potential changes over four dimensions: Speed, scale, scope and sophistication. The problem with AIs trading stocks isn’t that they’re better than humans—it’s that they’re faster. But computers are better at chess and Go because they use more sophisticated strategies than humans. We’re worried about AI-controlled social media accounts because they operate on a superhuman scale...
A court in the Philippines has banned the commercial growth of golden rice, a genetically modified rice which was created to help tackle vitamin A deficiency in developing countries. It’s just the latest twist in a long and controversial journey for this rice. Ian Sample hears from the Observer science and environment editor, Robin McKie, and from Glenn Stone, a research professor of environmental science at Sweet Briar College in Virginia who is also an anthropologist who has studied golden rice, about why it has taken so long for this potentially life-saving technology to reach the fields, if it is the silver bullet so many had hoped for, and whether this ban is really the end of the story
Continue reading...“It’s hard to see this wildly disproportionate response as anything other than an attempt to chill speech on this issue.”
The post Columbia Coincidentally Rewrites Disciplinary Rules Just in Time to Screw Over Student Protesters appeared first on The Intercept.
Residents living near the volcano have been ordered to evacuate as authorities warn of further eruptions
Authorities in the Philippines have ordered residents living near Kanlaon volcano in the country’s west to evacuate, after an eruption sent a 5km (three mile) plume of ash into the sky.
The six-minute explosive eruption on Monday caused a “strong earthquake” and prompted the suspension of work and schools in nearby Canlaon City, while three airlines cancelled 32 flights on Tuesday.
Continue reading...Found guilty on 34 counts by a New York jury, Trump might find himself campaigning behind bars.
The post These Convictions Thwart Trump’s Plan to Pardon Himself appeared first on The Intercept.
All over the country, architecture firms make the case for bigger jails — then get hired to design them.
The post The Little-Known Reason Counties Keep Building Bigger Jails: Architecture Firms appeared first on The Intercept.
Deterrence policy against asylum seeker boats is under strain, with three vessels arriving in a week in May
The number of asylum seekers on Nauru appears to have topped 100, with a further two groups of 37 people sent to the Pacific Island.
The people, classified as “unauthorised maritime arrivals”, include 33 Bangladeshis who were found on Christmas Island on 9 May, one of who is a woman. Their boat was destroyed by bad weather.
Continue reading...Kuo Chiu, known as KC to his friends, teaches urban design at Tunghai University in Taiwan. He’s also one of many of the country's citizens who practises rifle skills in his spare time, in case of a Chinese invasion.
The population of Taiwan has long grown familiar with Beijing’s pledge to one day ‘unify’ what it claims is a breakaway province. But recently, there has been a significant increase in aggressive and intimidatory acts.
Taiwan’s 160,000 active military personnel are vastly outnumbered by China’s 2 million-member armed forces, leading many civilians to turn to voluntary medical and combat training to protect themselves.
The Guardian's video team spent time with KC to see how he is preparing
Continue reading...Ahead of the election in India, the Guardian’s video team travelled through the country to explore how fake news and censorship might shape the outcome.
Almost one billion people are registered to vote. The country's prime minister, Narendra Modi, has been in power for more than 10 years, and his Hindu nationalist Bharatiya Janata party (BJP) is seeking a third term.
But critics of Modi and the BJP say his government has become increasingly authoritarian, fracturing the country along religious lines and threatening India’s secular democracy. At the same time, the space for freedom of speech has been shrinking while disinformation and hate speech has exploded on social media.
Tinned chickpeas are flying off the shelves at Tesco. Vegan influencer Christina Soteriou and child nutritionist Charlotte Stirling-Reed explain why – and share their tips for recipes and moreish snacks
“Chickpeas are flying off the shelves, so our priority is making sure they’re always available when customers want them,” says Ashley Wainaina, Tesco’s canned pulses buyer. “We’ve even changed our stocking system to make it more efficient, so we can keep up with demand.”
As the UK’s largest food retailer, Tesco is helping customers make better choices when they shop by highlighting better foods, such as snacks containing under 100 calories or foods that are high in fibre or low in sugar, through its Better Baskets campaign. Chickpeas are loaded with protein and fibre, they’re filling, a third of a tin counts as one of your five a day, and they can be cooked in a plethora of different ways. They’ve been eaten for millennia across the Middle East, India and the Mediterranean, and their popularity has soared here recently, too.
Continue reading...We know turbulence is a common part of flying – but are some routes more prone? And where is it the worst? Turbulence is the leading cause of in-flight injuries to crew and passengers and after the fatal Singapore Airlines incident and injuries to passengers above Turkey on a Qatar Airways flight, you might be wondering if flights are about to get bumpier. Incidents of severe turbulence are on the rise – increasing by 55% between 1979 and 2020 – and the climate crisis is thought to be a responsible factor
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Continue reading...Ban Khun Samut Chin, a coastal village in Samut Prakan province, Thailand, has been slowly swallowed by the sea over the past few decades. This has led to the relocation of the school and many homes, resulting in a dwindling population. Currently, there are only four students attending the school, often leaving just one in each classroom. The village has experienced severe coastal erosion, causing 1.1-2km (0.5-1.2 miles) of shoreline to disappear since the mid-1950s
Continue reading...
Rolling coverage of the latest economic and financial news
Global food commodity prices have risen again, in a blow to households worldwide.
The United Nations world food price index rose for a third consecutive month in May, as falling prices for sugar and vegetable oil were counted by rising prices for cereal and dairy products.
Continue reading...Shares slide after drinks firm says Patrick McMahon will leave roles as CEO and director immediately
The owner of Magners and Bulmers cider has parted with its chief executive after accounting mistakes led to the company taking a €17m charge.
Shares in the drinks company C&C Group fell 8% to 155.48p in early trading on Friday, the biggest faller on the FTSE 250 index, after the company announced that Patrick McMahon, who was chief financial officer during the time of the accounting shortcomings, had agreed to step down.
Continue reading...A restaurant that exists only in the minds of its owners
July, an Alsace-inspired restaurant, is a lovely idea, which is how all restaurants begin. Nobody, back in the blue-sky-thinking days of opening a joint, has ever planned to open a stinker. Restaurants are perilously expensive ventures. Pop stars KLF may once have burned £1m on Jura, but at least they got to go to bed afterwards. Hospitality, however, never sleeps, so if, like Solynka Dumas and Julian Oschmann, you are burning money by opening a 44-cover, all-day German/Swiss dining experience at the hectic end of London’s Charlotte Street, you’ll be pretty tied up.
The pair’s new restaurant in the heart of Fitzrovia is decked out in sumptuous, sunset-hued suede and leather, and offers a list of low-intervention wines that’s apparently curated by that wine-world name du jour, Honey Spencer. July also splashed the cash on employing someone to take lovely snaps of its Alsace-themed fantasy menu, including yummy-looking breaded deep-fried munster , pork terrine, herb dumplings in broth, exquisite salads, lamb hearts with green sauce, and white asparagus with ham and hollandaise. The dreamy list goes on: at weekends, I’m told, there will be whole Fosse Meadow chickens with homemade mayo, which I imagined as a bit like Bob Fosse chickens, having danced wild and free, and built up plenty of lovely, tasty flesh.
Continue reading...I think of the fear and empty fridges in Ceauseșcu’s Romania – and I’ll be thinking of Ukraine and Georgia on 9 June
It’s December 1989 and a young woman is sitting in a Bucharest theatre, watching a sold-out performance of Hamlet. The air is laden with danger. “Something is rotten in the state of Denmark,” Marcellus is about to say. Nearly 35 years later that woman, my mum, still remembers how electric the atmosphere inside the theatre was.
Everyone knew exactly what the line meant, but no one uttered a peep. It was common knowledge that secret police agents were watching. Any hint of support for Marcellus’s words guaranteed arrest. On that day in early December, my mum couldn’t have imagined that within weeks, the Ceaușescu dictatorship would be over. That we’d always have enough food in the fridge, freedom of speech, freedom of choice over our bodies, agency. That support for a line of Shakespeare wouldn’t mean arrest. That we’d be free. That I’d be sitting here, writing this, to you.
Continue reading...International aid organisations are warning Gaza is on the brink of famine. But since the start of the year groups of protesters have been trying to prevent food and supplies from getting in. Emma Graham-Harrison reports
Since the start of the year, groups of Israeli demonstrators have been gathering, first on the border with Gaza and then later in the West Bank, to lie down in front of food trucks – or in the West Bank even to attack them and their drivers – to try to prevent food aid getting into Gaza.
Who are these protesters and why would they try to prevent supplies from getting into the Gaza Strip, where international agencies say some children are already starving? Emma Graham-Harrison went to speak to the protesters to find out. She tells Michael Safi how, while their actions may seem extreme, believing aid should not be sent to Gaza is a worryingly mainstream view in Israel.
Continue reading...The hubs seek to produce, store and distribute food to the one-quarter of Native Americans experiencing food insecurity
On the Hopi reservation in the high desert of northern Arizona, construction is underway.
A dilapidated auto garage is being converted into a fully-equipped kitchen, food storage areas, dining room and an attached greenhouse. The new facilities will become the first-ever Hopi-region food hub, used to increase Indigenous access to fresh, healthy and affordable food through farm shares, farmer’s markets, agricultural workshops, seed sharing, cooking lessons and other programs.
Continue reading...Oceans are critical to life but have never been so vulnerable. In her new book, marine biologist Helen Scales outlines how to halt the decline
Some ocean species and habitats struggle to recover on their own and need help. Take sea otters, which were virtually eliminated by the end of the 19th century by commercial hunting for their super-dense pelts.
Continue reading...A court in the Philippines has banned the commercial growth of golden rice, a genetically modified rice which was created to help tackle vitamin A deficiency in developing countries. It’s just the latest twist in a long and controversial journey for this rice. Ian Sample hears from the Observer science and environment editor, Robin McKie, and from Glenn Stone, a research professor of environmental science at Sweet Briar College in Virginia who is also an anthropologist who has studied golden rice, about why it has taken so long for this potentially life-saving technology to reach the fields, if it is the silver bullet so many had hoped for, and whether this ban is really the end of the story
Continue reading...Andrew Bailey’s office has a losing record of fighting against exonerations recommended by local prosecutors — but it’s not giving up.
The post Missouri’s Attorney General Is Waging War to Keep the Wrongly Convicted Locked Up appeared first on The Intercept.
Technology was once simply a tool—and a small one at that—used to amplify human intent and capacity. That was the story of the industrial revolution: we could control nature and build large, complex human societies, and the more we employed and mastered technology, the better things got. We don’t live in that world anymore. Not only has technology become entangled with the structure of society, but we also can no longer see the world around us without it. The separation is gone, and the control we thought we once had has revealed itself as a mirage. We’re in a transitional period of history right now...
Tinned chickpeas are flying off the shelves at Tesco. Vegan influencer Christina Soteriou and child nutritionist Charlotte Stirling-Reed explain why – and share their tips for recipes and moreish snacks
“Chickpeas are flying off the shelves, so our priority is making sure they’re always available when customers want them,” says Ashley Wainaina, Tesco’s canned pulses buyer. “We’ve even changed our stocking system to make it more efficient, so we can keep up with demand.”
As the UK’s largest food retailer, Tesco is helping customers make better choices when they shop by highlighting better foods, such as snacks containing under 100 calories or foods that are high in fibre or low in sugar, through its Better Baskets campaign. Chickpeas are loaded with protein and fibre, they’re filling, a third of a tin counts as one of your five a day, and they can be cooked in a plethora of different ways. They’ve been eaten for millennia across the Middle East, India and the Mediterranean, and their popularity has soared here recently, too.
Continue reading...A weekly email from Yotam Ottolenghi, Meera Sodha, Felicity Cloake and Rachel Roddy, featuring the latest recipes and seasonal eating ideas
Each week we’ll send you an exclusive newsletter from our star food writers. We’ll also send you the latest recipes from Yotam Ottolenghi, Nigel Slater, Meera Sodha and all our star cooks, stand-out food features and seasonal eating inspiration, plus restaurant reviews from Grace Dent and Jay Rayner.
Sign up below to start receiving the best of our culinary journalism in one mouth-watering weekly email.
Continue reading...Michelle Roach bought a used ice-cream van in order to bring cheap, affordable food to Liverpool's struggling communities. She wanted a vehicle with freezers built in for frozen food, and also something cheerful that was able to break down stigmas around food poverty. Using a '10 items for £5' model, Michelle sources discount food from supermarket surplus and donations.
The Guardian's Christopher Cherry follows Michelle and the van on its rounds, with the service struggling to meet overwhelming demand as the cost of living crisis deepens, and the UK's general election fast approaches.
Continue reading...South Africa's case against Israel over allegations of genocide before the international court of justice has raised a central question of international law: what is genocide and how do you prove it? It is one of three genocide cases being considered by the UN's world court, but since the genocide convention was approved in 1948, only three instances have been legally recognised as genocide. Josh Toussaint-Strauss looks back on these historical cases to find out why the crime is so much harder to prove than other atrocities, and what bearing this has on South Africa's case against Israel and future cases
What is the genocide convention and how might it apply to the UK and Israel?
‘Famine is setting in’: UN court orders Israel to unblock Gaza food aid
Video:
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On the last day of his Huginn mission, ESA astronaut Andreas Mogensen takes us on a tour of the place he called home for 6 months: the International Space Station. From the beautiful views of Cupola to the kitchen in Node 1 filled with food and friends and all the way to the science of Columbus, the Space Station is the work and living place for astronauts as they help push science forward.
Style, with substance: what’s really trending this week, a roundup of the best fashion journalism and your wardrobe dilemmas solved, direct to your inbox every Thursday
Style, with substance: what’s really trending this week, a roundup of the best fashion journalism and your wardrobe dilemmas solved, delivered straight to your inbox every Thursday
Explore all our newsletters: whether you love film, football, fashion or food, we’ve got something for you
Continue reading... |
Imagine a world in which you can do transactions and many other things without having to give your personal information. A world in which you don’t need to rely on banks or governments anymore. Sounds amazing, right? That’s exactly what blockchain technology allows us to do.
It’s like your computer’s hard drive. blockchain is a technology that lets you store data in digital blocks, which are connected together like links in a chain.
Blockchain technology was originally invented in 1991 by two mathematicians, Stuart Haber and W. Scot Stornetta. They first proposed the system to ensure that timestamps could not be tampered with.
A few years later, in 1998, software developer Nick Szabo proposed using a similar kind of technology to secure a digital payments system he called “Bit Gold.” However, this innovation was not adopted until Satoshi Nakamoto claimed to have invented the first Blockchain and Bitcoin.
A blockchain is a distributed database shared between the nodes of a computer network. It saves information in digital format. Many people first heard of blockchain technology when they started to look up information about bitcoin.
Blockchain is used in cryptocurrency systems to ensure secure, decentralized records of transactions.
Blockchain allowed people to guarantee the fidelity and security of a record of data without the need for a third party to ensure accuracy.
To understand how a blockchain works, Consider these basic steps:
Let’s get to know more about the blockchain.
Blockchain records digital information and distributes it across the network without changing it. The information is distributed among many users and stored in an immutable, permanent ledger that can't be changed or destroyed. That's why blockchain is also called "Distributed Ledger Technology" or DLT.
Here’s how it works:
And that’s the beauty of it! The process may seem complicated, but it’s done in minutes with modern technology. And because technology is advancing rapidly, I expect things to move even more quickly than ever.
Even though blockchain is integral to cryptocurrency, it has other applications. For example, blockchain can be used for storing reliable data about transactions. Many people confuse blockchain with cryptocurrencies like bitcoin and ethereum.
Blockchain already being adopted by some big-name companies, such as Walmart, AIG, Siemens, Pfizer, and Unilever. For example, IBM's Food Trust uses blockchain to track food's journey before reaching its final destination.
Although some of you may consider this practice excessive, food suppliers and manufacturers adhere to the policy of tracing their products because bacteria such as E. coli and Salmonella have been found in packaged foods. In addition, there have been isolated cases where dangerous allergens such as peanuts have accidentally been introduced into certain products.
Tracing and identifying the sources of an outbreak is a challenging task that can take months or years. Thanks to the Blockchain, however, companies now know exactly where their food has been—so they can trace its location and prevent future outbreaks.
Blockchain technology allows systems to react much faster in the event of a hazard. It also has many other uses in the modern world.
Blockchain technology is safe, even if it’s public. People can access the technology using an internet connection.
Have you ever been in a situation where you had all your data stored at one place and that one secure place got compromised? Wouldn't it be great if there was a way to prevent your data from leaking out even when the security of your storage systems is compromised?
Blockchain technology provides a way of avoiding this situation by using multiple computers at different locations to store information about transactions. If one computer experiences problems with a transaction, it will not affect the other nodes.
Instead, other nodes will use the correct information to cross-reference your incorrect node. This is called “Decentralization,” meaning all the information is stored in multiple places.
Blockchain guarantees your data's authenticity—not just its accuracy, but also its irreversibility. It can also be used to store data that are difficult to register, like legal contracts, state identifications, or a company's product inventory.
Blockchain has many advantages and disadvantages.
I’ll answer the most frequently asked questions about blockchain in this section.
Blockchain is not a cryptocurrency but a technology that makes cryptocurrencies possible. It's a digital ledger that records every transaction seamlessly.
Yes, blockchain can be theoretically hacked, but it is a complicated task to be achieved. A network of users constantly reviews it, which makes hacking the blockchain difficult.
Coinbase Global is currently the biggest blockchain company in the world. The company runs a commendable infrastructure, services, and technology for the digital currency economy.
Blockchain is a decentralized technology. It’s a chain of distributed ledgers connected with nodes. Each node can be any electronic device. Thus, one owns blockhain.
Bitcoin is a cryptocurrency, which is powered by Blockchain technology while Blockchain is a distributed ledger of cryptocurrency
Generally a database is a collection of data which can be stored and organized using a database management system. The people who have access to the database can view or edit the information stored there. The client-server network architecture is used to implement databases. whereas a blockchain is a growing list of records, called blocks, stored in a distributed system. Each block contains a cryptographic hash of the previous block, timestamp and transaction information. Modification of data is not allowed due to the design of the blockchain. The technology allows decentralized control and eliminates risks of data modification by other parties.
Blockchain has a wide spectrum of applications and, over the next 5-10 years, we will likely see it being integrated into all sorts of industries. From finance to healthcare, blockchain could revolutionize the way we store and share data. Although there is some hesitation to adopt blockchain systems right now, that won't be the case in 2022-2023 (and even less so in 2026). Once people become more comfortable with the technology and understand how it can work for them, owners, CEOs and entrepreneurs alike will be quick to leverage blockchain technology for their own gain. Hope you like this article if you have any question let me know in the comments section
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