Build Your Own Private Blockchain With Multichain
With the thought of helping users create a private blockchain MultiChain platform. This popular platform for permissioned blockchain helps smooth flow of financial transactions carried by organizations, thus helping them. A simple API and a command-line interface are what the platform provides us. This helps to the preservation and setting up if the chain.
Multichain’s objective is to make sure Blockchain‘s visibility is always actively kept within the chosen participants so as to ensure there is stability and control in the way in which transactions exist.
Dr Gideon Greenspan is the founder and CEO of Coin Sciences Ltd which is the company behind MultiChain. Permissions management, native assets, data streams and simple configuration and deployment are all what make Multichain unique. These features have successfully helped in blockchain projects of world’s largest banks, consulting firms, financial technology and IT companies.
A well-known writer on permissioned blockchains, Dr Greenspan is also a well-known writer has always had keen interest in knowing and understanding genuine and practical applications of this technology. He has covered many topics that revolve around trade-offs between blockchains and regular centralised databases, the challenges of implementing smart contracts, and the criteria one should assess do make a decision on whether or not to use blockchain.
Dr Greenspan first heard about bitcoin in 2011, but was not paying much attention to it. But the price rise back in 2013( upto $50) made him spend more time understanding the whole concept. He spent a full day studying the system and how it works, and by the end was left stunned by its brilliance and simplicity. “Two things about it particularly interested me”, he mentions.
“First, the creation of a new type of money, which was instantaneous and digital, but free of intermediaries. Second, the general idea of a decentralised database, upon which many more complex applications could be built. The sense that this was “green field territory” is what led me to founding Coin Sciences”.
Dr.Greenspan conducts a large number of conversations with companies who want feedback on whether a particular blockchain use case makes sense, and what problems they might possibly face and what should they beware of.
Their piece “Avoiding the pointless blockchain project” has received about 100,000 views, several multinational consultancies have been using the post as a reference making it a formal checklist when assessing blockchain projects for their clients.
The finance and governmental sectors are the ones using blockchain to its full potential as of now. But a future where more and more industries will be accepting of blockchain and the miracles it can do is definitely possible.