Blockchain is a relatively new form of records management, that is considered somewhat foolproof. That is because the chain of information is comprised of blocks that are linked and secured using cryptography. The most recent block (record) added can be changed by that builder alone, but previous blocks in the chain must be changed by respective builders, and if one builder is not onboard with making a change in the blockchain, then the blockchain can not be altered. That means that the process is more democratic than anything else, meaning that a blockchain is a very secure system for records management.
Blockchain, a new type of computer coding, is the technology behind cryptocurrency.
During the weekend of April 13-15, University at Buffalo (UB), the Buffalo Niagara Medical Campus, and software development company ConsenSys, will be hosting the first ever Blockchain Buildathon (focusing on technology). The event will see over 200 students and tech enthusiasts (hackers) coming together to brainstorm how the technology could help solve local and global challenges. According to a recent UB release, “While best known for Bitcoin, fans say blockchain could form the backbone of a new type of internet — one that could affect banking, digital rights management, the insurance industry and many other markets.”
“This is a watershed moment in the evolution of the internet. With blockchain and cryptocurrency technologies, we are transforming from centralized to decentralized applications. This is expected to usher in new applications that transcend demographics and national barriers, and disrupt traditional industries. Simply put, blockchain technology has the potential to transform every industry that we interact with,” said conference organizers Sam Marrazzo and Bina Ramamurthy in a joint statement.
Marrazo, chief innovation officer at the Buffalo Niagara Medical Campus, and Ramamurthy, research associate professor of computer science and engineering, added: “It is imperative that we educate and enable the creation of an inclusive society where everyone benefits. Initiatives at UB, such as the Blockchain Thinklab and the UB Blockchain Buildathon, which are supported by the local community and businesses, will establish Buffalo as a premier center for blockchain education and research.”
“Blockchain is clearly a disruptive technology with significant business and social impact. ValueCentric envisions blockchain as potentially solving pharmaceutical industry needs including the ability to trace movements of a pharmaceutical package immutably back to the source. We are proud to support collaboration between the university and industry to engage some of our brightest and most creative students to attack these real world issues. As a technology company, we are thrilled to see this level of talent continue to develop locally,” said Judy Feldman, ValueCentric’s chief information officer. ValueCentric is a buildathon sponsor and provider of cloud-based data aggregation and analytics for manufacturers in the life sciences industry.
Companies sponsoring the UB Blockchain Buildathon are:
- Premiere level — Moog Inc., M&T Bank
- Gold level — Computer Task Group, Praxair, ValueCentric, Rich Products Corp
- Silver level — Topcoder, Helm Experience & Design, UB Blockchain Thinklab
For more information on the buildathon, which will be held at the new downtown home of the Jacobs School of Medicine and Biomedical Sciences at UB, visit: www.ethBuffalo.org.