1. Time stamping on the blockchain is already a well-functioning application.
“Blockchain brings time stamping to big data, which is much cheaper than previous versions of time stamping big data. I’m surprised how many features you can build on that simple feature,” Gilles Cadignan, chief executive and cofounder of Rennes, France-based Woleet, a Bitcoin blockchain-data anchoring company, said in a panel. This, of course, presumes that the data is accurate and trustworthy. Woleet’s service uses the Bitcoin blockchain to track, say, the provenance of pharmaceuticals to prevent counterfeiting. He also noted, “Even if Woleet disappears,” the record of any data that the company has stamped onto the Bitcoin blockchain will endure if that ledger does.