Tag: smart contract

Beyond Bitcoin: Understanding the Difference Between Blockchain and Crypto

Introduction

When people hear the word blockchain, the first thing that often comes to mind is Bitcoin or cryptocurrency. While it’s true that blockchain technology powers cryptocurrencies, the two terms are not interchangeable. In fact, the widespread association of blockchain with crypto has caused significant confusion and even skepticism in the general public.

This blog post aims to clear up that confusion. We’ll explain the fundamental difference between blockchain and cryptocurrency, and explore the wide array of real-world applications of blockchain technology — far beyond digital currencies.

What Is Blockchain?

At its core, blockchain is a type of distributed ledger technology (DLT). Think of it as a secure, digital record-keeping system that is shared across a network of computers. Each record (or “block”) is linked to the previous one, forming a “chain” that is immutable — meaning it cannot be altered once added.

The key features of blockchain include:

  • Transparency: Everyone in the network can view the same data.
  • Security: Data is encrypted and validated through consensus mechanisms.
  • Decentralization: No single authority controls the network.
  • Immutability: Records are permanent and tamper-proof.

What Is Cryptocurrency?

Cryptocurrency is a digital or virtual currency that uses cryptography for security. Cryptocurrencies like Bitcoin, Ethereum, and many others use blockchain to record transactions securely and transparently.

In simple terms:

Cryptocurrency is just one application of blockchain technology — not the technology itself.

Why the Confusion?

The confusion arises because Bitcoin was the first popular application of blockchain technology. For many people, their first and only exposure to blockchain has been through crypto trading, investing, or news coverage related to scams, price swings, or regulatory crackdowns.

This limited exposure creates the false impression that blockchain equals cryptocurrency, which is far from the truth.

Blockchain Applications Beyond Cryptocurrency

Here are several industries where blockchain is being used today — without involving cryptocurrencies:

1. Supply Chain Management

Blockchain allows companies to track goods from their origin to the end consumer. This improves transparency, prevents fraud, and ensures ethical sourcing (e.g., tracing whether diamonds or cocoa are conflict-free).

Example: IBM’s Food Trust platform helps companies trace the journey of food items, improving safety and reducing waste.

2. Healthcare

Blockchain can be used to secure patient records, ensuring that data is accessible only to authorized parties and protected from tampering or hacking.

Example: MedicalChain and other projects use blockchain to allow patients to control access to their own health data.

3. Voting Systems

Blockchain can power secure, transparent, and tamper-proof digital voting, potentially solving problems of election fraud and increasing voter trust.

Example: Estonia and some U.S. states have piloted blockchain voting systems.

4. Digital Identity

Blockchain can be used to create self-sovereign digital identities that are secure and verifiable — reducing identity theft and simplifying access to services.

Example: Projects like ID2020 and Sovrin aim to provide blockchain-based digital identity systems for refugees and underserved populations.

5. Finance and Banking (Beyond Crypto)

Banks are using blockchain for cross-border payments, smart contracts, and real-time settlement — increasing speed, reducing fees, and improving security.

Example: JP Morgan’s Onyx platform and RippleNet use blockchain for fast, international transactions without relying on cryptocurrencies directly.

6. Real Estate and Land Registry

Blockchain can simplify the process of buying and selling property by recording ownership, preventing fraud, and reducing paperwork.

Example: Countries like Sweden and Georgia have adopted blockchain to record land titles.

7. Education and Credentials

Universities and institutions are issuing tamper-proof academic certificates on the blockchain that are instantly verifiable by employers.

Example: MIT issues blockchain-based diplomas that graduates can share with employers or institutions globally.

Final Thoughts

It’s time to separate the technology (blockchain) from just one of its use cases (cryptocurrency). While cryptocurrencies have their place, the potential of blockchain stretches far beyond digital coins.

From revolutionizing healthcare and education to transforming government and finance, blockchain is poised to be one of the most impactful technologies of our time.

Understanding this distinction helps us better embrace innovation — and move past the hype or fear often associated with crypto headlines.

Call to Action
If you’ve only associated blockchain with Bitcoin, now is the time to dig deeper. Explore how this powerful technology can transform industries and improve trust, transparency, and efficiency in everyday life.

Stay informed. Stay curious. The future is blockchained — with or without the coins.

RWA代币化：将现实世界资产引入Web3的创新路径

近年来，RWA代币化在Web3领域成为热门话题，但实际应用案例并不多。然而，随着加密货币逐渐被主流机构视为一种新的投资资产类别，RWA代币化作为一种创新工具正在崛起，可将非流动性资产转化为更具流动性和包容性的数字资产。

值得一提的是，比特币ETF（BTC ETF）和以太坊ETF（ETH ETF）并不属于RWA代币化。比特币ETF仅持有比特币这一资产本身，并未通过区块链上的代币形式代表所有权。而RWA代币化是指将现实世界中的资产（如房地产、股票或债券）在区块链上进行数字化表示。

比特币ETF与RWA代币化的比较

比特币ETF：

  • 关注点：让投资者获得比特币价格的敞口。
  • 运作机制：投资公司购入并持有比特币，投资者则购买ETF份额，这些份额代表一部分比特币持仓。
  • 非代币化：ETF并不等同于区块链上的代币，不存在通过区块链转移所有权。
  • 本质：ETF是股票市场的产品。

RWA代币化：

  • 关注点：将实体资产（房地产、股票、债券等）以代币形式在区块链上代表其所有权。
  • 运作机制：资产被转化为数字代币，实现可分割所有权、便捷交易及其它区块链优势。
  • 区别于比特币ETF：RWA代币化不用于直接投资比特币，而是用于代币化其它现实资产。

核心区别：

比特币ETF持有的是加密资产本身，而RWA代币化则是将其它现实资产数字化并上链。

RWA代币化的实际案例

1. 房地产代币化

房地产被视为相对安全的投资方式，但门槛高、流动性差。尽管房地产是全球最大的资产类别（总价值达228万亿美元），但散户投资者常因高额起投金额、流动性低、管理成本高等原因而被排除在外。

近几十年来，房地产证券化（如REITs、房地产基金、房地产ETF和众筹）一定程度上降低了散户参与的门槛，但仍存在限制，例如高起投额及无法直接投资于单个项目。

如今，一种新型证券化形式——房地产代币化（即RWA代币化）正在兴起。通过将房地产拆分为数字代币，资产所有者可更高效融资，投资者则可获得前所未有的透明度和流动性。

实际案例：法国巴黎 AnnA Villa

这座价值650万欧元的别墅成为法国首个通过区块链交易完成销售的房产。过程如下：

  1. 产权转让至“SAPEB AnnA”公司；
  2. 公司所有权被分割为10个以太坊代币；
  3. 每个代币进一步拆分为100,000份，即每份仅需€6.50即可投资。

2. 债券与股票代币化

债券代币化

每个代币代表对债券的利息及本金的索取权。相关条款通过智能合约编写。

优点：

  • 结算更快
  • 减少中介
  • 全球可访问
  • 流动性更高

案例：

  1. 欧洲投资银行（EIB） – 2021年发行1亿欧元数字债券（以太坊网络）
  2. 汇丰银行+新加坡政府 – 2023年在Orion平台上代币化新加坡政府债券，实现原子结算

股票代币化

代币与真实股票挂钩（1:1托管或模拟合约）。代表股票的权益，可全天候交易。

优点：

  • 24/7全球交易
  • 支持碎片化持有
  • 开放全球投资者参与

案例：

  1. FTX交易所（已倒闭） – 提供特斯拉、苹果等股票代币，1代币 = 1股票，由德国CM-Equity托管
  2. Swarm Markets（欧盟合规） – 提供苹果、特斯拉及美债代币，允许加密投资者合规投资传统资产

3. 艺术品与文物代币化

将艺术品、历史文物等现实资产的所有权或经济权利转为区块链上的数字代币，支持全权所有、共享所有权、或利润分配权。

案例：

  1. Masterworks.io：
    • 拆分高价值艺术品（如Banksy、Warhol）
    • 获SEC批准，可在二级市场交易
  2. Particle Collection：
    • 代币化Banksy的《Love Is in the Air》
    • 拆分为10,000个NFT，每个代表“粒子”，并记录在链上
  3. Artex 平台：
    • 目标：将博物馆、画廊收藏的画作代币化
    • 支持代币交易、质押和投资
  4. RARE Network：
    • 结合NFT和现实认证机制
    • 提供真品鉴定、储存验证

技术流程：

  • 评估与托管：资产经鉴定并储存在安全场所
  • 法律结构：资产由LLC等实体持有，代币代表股权
  • 发行代币：基于Ethereum、Avalanche或Polygon等平台
  • 智能合约：控制所有权转移、分红、转售等
  • 二级市场交易：可在OpenSea或专属平台买卖

挑战：

问题说明
法律问题如何确保代币持有者的合法权益
估值难度艺术价格波动大
托管风险必须安全保存实物
法规不确定某些国家将其视为证券
流动性问题艺术市场本身交易频率低

应用场景

  • 散户拥有高价值艺术品的部分所有权
  • 博物馆通过代币筹集资金
  • 艺术家控制作品转售及获取版税
  • 文博机构通过代币化吸引公众参与文化遗产保护

总结

RWA代币化通过将现实资产数字化，为传统资产注入流动性、可分割性和透明度，架起传统金融与区块链之间的桥梁。

尽管仍面临法规、技术和市场等挑战，但这一领域正快速发展，有望在不久的将来迎来广泛应用。

ICP Developer Guide -Chapter 1

In the previous post, you learned about the fundamental concepts of the Internet Computer Protocol (ICP), a third-generation blockchain designed to power the next evolution of the internet. At its core, ICP functions as a decentralized cloud, enabling developers to build and deploy applications entirely on-chain without relying on traditional centralized servers like AWS or Google Cloud.

You might be wondering—how is this even possible? To clear up any doubts, I will walk you through the process of creating and deploying an application on the Internet Computer. Unlike conventional web hosting, ICP allows you to launch apps without registering a domain name or provisioning a cloud server, leveraging blockchain-native web hosting for a truly decentralized experience.

Prerequisite

To start coding in IC(Internet Computer) , there are some prerequisites you need to set up or install before you can jump into developing your first app. Following are the prerequisites:

  • Ensure you have the supporting operating system-
    • Windows 10 or 11 with WSL2 installed with Ubuntu Linux v20.04
    • Mac OSX 12 or above
    • Ubuntu Linux v20.04
  • NodeJs v20
  • GitHub Account
  • IC SDK
  • Visual Studio Code IDE
  • Basic programming knowledge- JavaScript, CSS, HTML

Here are the references to install the or set up the prerequisites:

You must install IC SDK before you can start coding. Use the following command in the WSL ubuntu terminal to install the SDK:

·sh -ci “$(curl -fsSL https://internetcomputer.org/install.sh)”

After installation, check its version using the command dfx –version, you should see something like dfx 0.24.3

*·If you are using a machine running Apple silicon, you will need to have Rosetta installed. You can install Rosetta by running softwareupdate –install-rosetta in your terminal.

The next step is to create an account in IC. In ICP, authentication requires a key pair consisting of a private and a public key, while the account itself is identified by a unique principal ID. Additionally, a ledger is needed to store accounts and transactions. This ledger is a smart contract known as a system canister. Each user will have a ledger account identifier, also called an account ID, which is used to hold ICP tokens. Furthermore, a wallet must be created to store cycles and facilitate sending cycles to and from canisters.

Creating ICP Account

To create an account in IC, using the following command:

dfx identity new <identity_name>

·💡Identity names must use alphanumeric characters comprising uppercase and lower letters, numbers and special characters. Example: My_chatb@t

·ℹ️Most importantly, REMEMBER to back up the 24-word account/identity seed phrase. This is essential for restoring your account if you forget your password or need to access it from another device. Additionally, you can create multiple accounts on your device.

Principal ID

Having created your account, you can obtain your principal id using the following commands:

dfx identity use <identity_name>

dfx identity get-principal

Your account’s principal ID will resemble this:

zxyfn-yljyi-bn6dy-ixi7n-jez74-nk723-pvj3m-jykes-dhqon-3ktql-uae

Ledger Account ID

You can also obtain your ledger account id using the following commands:

dfx identity use <identity_name>

dfx ledger account-id

Your Ledger account ID will resemble this :

1370f0ea74b35f33d2a2fee64a7a8c53cd52d6dd82c1cdfe08712dcd863692ab

Importing Account

In case you have changed your device and need to use the same account to develop ICP apps, you may import the 24-word seed phrase you have saved as a plaintext into your new development environment using the following command:

dfx identity import –seed-file <seedfile.txt> <Identity Name>

ICP Token Balance

To check the ICP token balance in ledger account on ICP Main Network, use the following commend:

dfx ledger –network ic balance

·💡–network ic or –ic: Connect to ICP Main Network, without this parameter, it will connect to the local network

Internet Identity

Internet Identity is a decentralized authentication system for the ICP. If you haven’t already, set up an Internet Identity:

  • Go to the Internet Identity portal: https://identity.ic0.app/.
  • Click “Create New” to create a new identity.
  • Follow the prompts to register your device . For Windows 10 user, require to use your mobile phone to scan the QR Code to store the credential information in the mobile phone. For Android device, recommend to use Google Lens to perform Passkey QR code scanning.
  • Note down your Internet Identity number (e.g., 12345).

 ICP Account Address

To receive ICP tokens, you need an ICP account address associated with your Internet Identity. Here’s how to get it:

  • Go to the Network Nervous System (NNS) Dapp: https://nns.ic0.app/.
  • Authenticate using your Internet Identity.
  • Once logged in, navigate to the “Accounts” section.

Plug Wallet

You may also use the Plug Wallet to store your ICP tokens. Plug wallet can be installed as a browser extension on a laptop or can be installed as a mobile app on your phone. You can download Plug Wallet using the link below.

https://plugwallet.ooo/

Network Nervous System

The Network Nervous System (NNS) is the decentralized governance system aka DAO that controls and manages the Internet Computer (ICP), a blockchain-based computing platform developed by the DFINITY Foundation. The NNS is one of the most critical components of the Internet Computer, as it enables the network to operate autonomously and evolve over time through community participation.

Key Functions of the NNS

  1. Governance:
    • The NNS allows ICP token holders to participate in the governance of the Internet Computer by submitting and voting on proposals.
    • Proposals can cover a wide range of topics, such as upgrading the protocol, adjusting network parameters, or funding ecosystem projects.
  2. Token Economics:
    • The NNS manages the ICP utility token, including its minting, burning, and distribution.
    • It also handles the creation of cycles, which are used to pay for computation and storage on the Internet Computer.
  3. Node Management:
    • The NNS oversees the addition, removal, and configuration of node machines that power the Internet Computer.
    • It ensures the network remains secure, scalable, and efficient.
  4. Canister Management:
    • The NNS manages the lifecycle of canisters (smart contracts) on the Internet Computer, including their creation, upgrading, and deletion.
  5. Network Upgrades:
    • The NNS facilitates seamless upgrades to the Internet Computer protocol without requiring hard forks or downtime.
    • This is achieved through a decentralized voting process.

What is ICP Blockchain? A Brief Introduction

The Internet Computer Protocol (ICP) is a groundbreaking blockchain technology developed by the DFINITY Foundation. Often referred to as the third generation of blockchain, ICP aims to transform the way the internet works by allowing it to natively host software, smart contracts, and web services — all directly on the blockchain.

What Makes ICP Unique?

Unlike traditional blockchains that rely on external cloud services or centralized web servers, ICP enables developers to build fully decentralized applications (dApps) that run 100% on-chain. This is a major leap forward in creating a truly open, secure, and tamper-proof version of the internet.

ICP does more than just support cryptocurrencies or DeFi — it provides the infrastructure for building entire systems and platforms, including websites, enterprise software, and social media apps, directly on the blockchain.

How Does It Work?

ICP operates through a global network of independent data centers that run specialized nodes. These nodes are organized into subnets, each capable of hosting canisters — a new kind of smart contract optimized for performance and scalability.

The protocol uses advanced cryptography, including Chain Key Technology, to manage, validate, and synchronize data across the network at web speed. This makes ICP one of the fastest and most scalable blockchains in existence.

Key Features of ICP:

  • Decentralized Hosting: Apps run entirely on the blockchain, eliminating the need for centralized web hosting.
  • Web Speed Performance: Processes transactions and updates data in seconds.
  • Smart Contract Canisters: Advanced, upgradeable smart contracts that scale horizontally.
  • No Middlemen: Users interact directly with dApps through any browser — no need for plugins or wallets.
  • Governance via NNS: The Network Nervous System (NNS) governs upgrades, configurations, and economics of the Internet Computer.

Real-World Use Cases

ICP is already powering a wide range of innovative projects:

  • OpenChat: A decentralized alternative to WhatsApp.
  • DSCVR: A blockchain-based social network similar to Reddit.
  • Internet Identity: A secure, anonymous authentication system without usernames or passwords.

Startups, enterprises, and developers are using ICP to build next-generation services that are censorship-resistant, interoperable, and cost-effective.

The Role of the DFINITY Foundation

Founded in Zurich, Switzerland, the DFINITY Foundation is a not-for-profit organization behind the Internet Computer. With one of the largest R&D teams in blockchain, DFINITY is committed to building an internet that’s open, secure, and owned by its users — not centralized corporations.

Final Thoughts

ICP isn’t just another blockchain. It’s a bold vision of the future — a new internet where apps and data live on a public, decentralized infrastructure. Whether you’re a developer, investor, or curious tech enthusiast, keeping an eye on ICP could mean witnessing the next big leap in the evolution of the web.

Refer to ICP Overview for further reading.


Building Blockchain for Business

Blockchain is the underlying technology for Bitcoin, Ethereum, and other cryptocurrencies. However, cryptocurrency is far from the only application of blockchain for businesses. One of the most popular business applications of blockchain is fundraising, especially for startups. Apart from conventional ways of funding, blockchain enables alternative methods of fundraising such as ICO or STO.

In the past few years, many companies have raised an incredible amount of money via ICO. Some of the biggest and most successful ICO projects include NEO, Ethereum, Spectrecoin, and Lisk. More info about ICO can be found on the Investopedia website.

That said, I am not going to discuss ICO in this article. Instead, we shall explore blockchain applications in businesses. Though we can use blockchain for all kinds of business applications, whether or not blockchain is suitable for a particular business depends on the nature of the business, the business model, the requirements, and many other factors.

Before implementing blockchain, the C-level management team of a business organization should conduct a feasibility study to determine whether it is necessary and plausible to adopt blockchain technology. You should ask the following questions:

  • Can blockchain add value to the current business?
  • Can blockchain increase the organization’s competitiveness?
  • Do you need to deal with many trustless parties?
  • Do you need a decentralized and distributed database system?
  • Can blockchain improve workflow efficiency?
  • Can blockchain increase revenue and profit?
  • Do you have enough financial resources to implement blockchain?
  • Can blockchain technology integrate with existing systems?
  • Do you have enough talents to manage the blockchain system?

Once you’ve decided that implementing blockchain would benefit your company, you need to carry out the following steps:

  1. Identify a suitable use case.
  2. Assemble your team.
  3. Design the blockchain architecture.

Identify a suitable use case

To embark on a blockchain project, you need to identify the most suitable use case for your business. The best way is to examine use cases in an industry that is similar to your business. Generally, there are three areas in which blockchains can perform very well.

Data Authentication & Verification

This includes immutable storage, digital signatures, and encryption. Data in almost any format can be stored in the blockchain. Blockchains can create public-private key pairs and also be used for generating and verifying digital signatures. Therefore, it can be used for data authentication & verification.

One of the best usages is counterfeiting prevention. For example, Luxtag, a Malaysia-based blockchain company, has patented an anti-counterfeit technology. This technology enables businesses and their customers to protect the authenticity and ownership of their valuable assets by providing digitized certificates using blockchain technology. They have rolled out their first product, known as e-Scroll, for a consortium of Malaysian public universities to verify and validate certificates using a blockchain-powered web application.

Another area related to authentication and verification is data provenance. One of the most successful companies in this area is Everledger. This company has built the Diamond Time-Lapse Protocol, a traceability initiative built on a blockchain-based platform for the diamond and jewelry industry. The system is to ensure that there is transparency along the entire diamond’s lifetime journey, instilling consumer confidence and driving industry growth.

Another application is supply chain management. The most notable is the initiative by Walmart using blockchain technology to ensure food safety. Walmart has been working with IBM on a food safety blockchain solution requiring all suppliers of leafy green vegetables for Sam’s and Walmart to upload their data to the blockchain by September 2019. By placing a supply chain on the blockchain, it makes the process more traceable, transparent and fully digital.

Watch the following video about food safety:

Other business applications could be medical records management, insurance, KYC management for banks, and more.

Digital Asset Management

Any asset that can be digitized is considered a digital asset. Digital assets include ebooks, digital art, images, video, music, journals, newspapers, audio books, online training courses, recipes, and more. With the invention of blockchain technology, digital assets also include crypto assets. Crypto assets can be cryptocurrencies like Bitcoin, Ethereum, and other altcoins, or the tokenized version of a real-world asset such as gold, silver, oil, land titles, property, paintings, etc.

Currently, most digital assets are traded over the Internet via the centralized e-commerce marketplace. However, digital assets can be traded more efficiently over the decentralized peer-to-peer blockchain platforms.

Some real world use cases for digital assets management in blockchain include:

  • AlphaPoint. Provides enterprise-grade software that enables institutions to convert assets to securities tokens and trade those assets on an exchange.
  • Polymath. Enables trillions of dollars of securities to migrate to the blockchain.
  • Harbor. Offers a digital securities platform for compliant fundraising, investor management, and liquidity.
  • Powerledger. Provides a platform for peer-to-peer energy trading.

Smart Contracts

A smart contract is a programmable contract that enables auto execution of a contract the moment it fulfills certain terms and conditions. It is akin to a vending machine – you get your product by inserting some coins or banknotes.

According to Investopedia, 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, decentralized blockchain network. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. They render transactions traceable, transparent, and irreversible.”

Almost any blockchain business application involves the use of a smart contract. A famous use case is Cryptokitties. A smart contract is executed when a user acquires a unique virtual kitty from the Cryptokitties collectible marketplace via a bidding process. The highest bidder gets to own the digital asset. Other dapp transactions also make use of smart contracts.

Blockchain-powered supply chain management makes use of smart contracts to handle transactions between manufacturer, suppliers, wholesalers, and retailers.

In the insurance industry, the client who wishes to buy insurance can provide personal information including sensitive data like medical records via a smart contract to the insurance company. In the health care industry, a patient can get faster and more accurate diagnoses and treatment via a smart contract that allows them to share medical records.

Assemble your Team

After conceptualizing a business use case that is suitable for your business, you need to assemble your team to kick-start the blockchain project. Getting the right people in your team is crucial to success. Your team should comprise people with business skills and also people with technical skills. People with business skills should be able to see the overall picture of your business model and know how to execute it. They must also have good interpersonal skills, strategic thinking, good networks, and financial knowledge. The people with business skills should be assigned the posts of CEO, CFO, marketing manager, business development manager, and so on.

People with good IT skill in general and blockchain in particular are equally important. The CTO must have many years of experience in the IT and software industry and have a good grasp of blockchain. He or she must be assisted by a technical lead who has good practical experience in setting up the blockchain platform, know how to program the smart contract, sound knowledge of programming languages including Solidity, JavaScript, Goland, C++, Java, Python, and so on.

In addition, if you plan to raise funds via ICO, you need to employ a compliance officer, preferably a lawyer who understands the guidelines provided by the security commission and the central bank.

Designing the Blockchain Architecture

You need to decide whether to build the blockchain network from scratch, or use a third party blockchain solution like Azure blockchain, Oracle, or AWS blockchain. The former is time-consuming, whereas the latter could be up in as little as 30 minutes.

Each of the the aforementioned enterprise blockchains offer their own functionalities and features as well as cost advantages. Both AWS and Azure offers solutions for Ethereum, Hyperledger Fabric, Corda, and Quorum, while Oracle only caters for Hyperledger Fabric. We can compare their features in the following table:

Courtesy of 101 Blockchains


The cost of setting up Azure Blockchain Workbench is roughly $400-$500 depending on your region and usage. The main costs are three VMs and one app service. Two VMs are for the default blockchain network, and one VM is for the microservices on Workbench. For AWS Blockchain pricing, refer to: https://aws.amazon.com/managed-blockchain/pricing/

References