If you are coming here to TARTLE you probably have at least a basic knowledge of blockchain. On the off chance you are new here, blockchain is most commonly associated with Bitcoin and other cryptocurrencies. It is a means of recording information that relies on unique lines of code that are copied on nodes around the world rather than on a centralized server. This makes it secure since the information exists in many copies at once and every transaction is recorded. Every time that your favorite crypto changes hands a record of that translation is made and copied. That means every blockchain node in the world contains a record of every owner going all the way back to its origin. If you think about it that is pretty cool. It’s like being able to take a dollar bill out of your wallet and instantly being able to see everywhere it’s been and everyone who has ever had it in their own wallet. As cool as this is, is it possible to use this same technology elsewhere?
The answer is a resounding ‘yes’. We’ve actually seen an example of what that looks like in pop culture just recently. There is a scene in The Mandalorian in which Boba Fett, after getting his armor back from Mando, shows him a chain code, showing everyone who has owned the armor from Boba back to the first one. That is literally an example of blockchain being applied to a material object in a mainstream science fiction show. Again, that’s pretty cool. It shows knowledge of blockchain is getting out in front of the regular population.
However, that’s still fiction. How might that work in the real world? Think about those guys who are selling knock off versions of high end things like Rolex watches or Gucci bags or maybe the real thing but heavily discounted. So discounted that maybe you go home and wonder if you just bought something that was stolen. How would you prove it? And even if you could, how could you make sure that it got back to whomever the rightful owner is?
If the manufacturer was making use of blockchain technology, it would be simple. There would be a code on the device, or even a chip within it that could transmit the code so anyone with a receiver could check it out. That code would then be checked against a blockchain registry demonstrating authorized chains of custody. If the person you bought that killer watch from isn’t on the registry, then yeah, you bought something stolen.
This can also be used for detecting inefficiencies in a supply chain. If a given shipment has been out of scanning range for longer than expected, it would send up a warning flag that either the system isn’t working the way that it is supposed to or that someone is trying to do something nefarious.
We’ve also made mention of how blockchain could be used to keep secure track of things like property titles, without the need for middle men like banks and title companies.
With blockchain already firmly established as the means through which cryptocurrencies are traded, it is only a matter of time before it starts breaking more into the mainstream. Given that many companies now accept various cryptos as valid means of payment, that crypto is regularly discussed on national news programs, and it has even begun to penetrate pop culture, this time is not far away. In just a few years, it is highly likely that you’ll be purchasing a new car, home, wedding ring, and a host of other things with a blockchain based chain of ownership.
This is the way.
