ATLANTA, Feb. 8, 2017 /PRNewswire/ -- Professor Vijay Madisetti of Georgia Institute of Technology (Georgia Tech) and Arshdeep Bahga (former Research Scientist at Georgia Tech) release a new textbook on "Blockchain Applications: A Hands-On Approach," published by VP Technologies, Inc.
Atlanta, Georgia, USA and available on Amazon.com
The services and manufacturing sectors provide employment to millions of professionals.
These sectors are highly automated, and driven by sophisticated business processes forming an integral part of the digital economy. While the applications themselves may be distributed over the Internet in time and space, the core business, regulatory, and financial aspects of the digital economy are still centralized, with the need for centralized agencies (such as banks, customs authorities, and tax agencies) to authenticate and settle payments and transactions.
These centralized services often are manual, difficult to automate, and represent a bottleneck to facilitating a frictionless digital economy.
The next revolutionary step in the services and manufacturing economy of the future is the development of automated distributed applications that do not depend on these traditional centralized agencies for controlling, facilitating and settling multi-party transactions that may themselves be subject to complex contractual constraints. The blockchain technology is an integral part of these next steps that promises a smart new world of automation of complex services and manufacturing processes.
Blockchain is a distributed and public ledger that maintains records of all the transactions on a blockchain network comprising suppliers of products and services and consumers.
With the blockchain's ability to establish trust in a peer-to-peer network through a distributed consensus mechanism rather than relying on a powerful centralized authority, the technology is seen by the industry experts as one of the greatest innovations since the invention of the Internet.
As per Santander, blockchain technologies can reduce annual costs for financial firms by $20b by streamlining processes and improving efficiency. In addition, investment and spending on blockchain technology is expected to increase at a compound annual growth rate (CAGR) of 52% through 2019.
The new textbook, "Blockchain Applications," by Arshdeep Bahga and Vijay Madisetti, attempts to provide a solid foundation in the areas of financial and regulation technologies, business analytics, Internet of Things, and cryptocurrency, in a manner that can be taught in colleges and universities to students who have completed at least one course in programming languages.
The book is also written for use within industries in the FinTech and RegTech space that may be interested in rolling out products and services that utilize this new area of technology.
Through extensive use of examples and case studies, with full code support, the book allows students to learn through doing.
The book proposes a blockchain stack comprising a decentralized computation platform, a decentralized messaging platform, and a decentralized storage platform.
A specific realization of the blockchain stack based on the Ethereum blockchain platform is described.
This new book is available from Amazon.com (https://www.amazon.com/dp/0996025553/) and other major online distribution channels, and a website is available for instructors and students (http://www.hands-on-books-series.com/).
Instructors at colleges can request an evaluation copy on this website.
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How does a blockchain work - Simply Explained
SOURCE VP Technologies, Inc.
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