Yotta Laboratories are at the forefront of Blockchain development and thought leadership. This highly disruptive technology doesn’t just need to be used at the engine behind Crypto Currencies, like Bitcoin, Blockchain and Smart Contracts can be used to manage wealth, pay governmental benefits and even prove countries of origin from people to pigs. Crucially, using Blockchain ensures levels of security hitherto unimagined.
The World Economic Forum describes Blockchain technology like this: Blockchain or distributed ledger technology (DLT) is a technological protocol that enables data to be exchanged directly between different contracting parties within a network without the need for intermediaries. The network participants interact with encrypted identities (anonymously); each transaction is then added to an immutable transaction chain and distributed to all network nodes.
The ramifications of this technology will be profound. Trust is key in any transaction. To take place a transaction requires the buyer to believe that the seller will deliver their goods or services. A transaction built around Blockchain remove any element of surprise. Authentication using Blockchain will take micro and macro digital transactions to new levels. Blockchain will be to FinTech what steam did to the engine.
We believe Blockchain technology is going to be as transformative to society as the web. It is our mission to deliver tomorrow’s technology today using this disruptive, linked and highly secure digital cryptography.