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Crypto-fall-prediction: the new use for blockchain

Bitcoin, last year’s craze for investors around the world, may have taken a hit this year but the technology behind it may be the real winner.

Bitcoin was founded by the mysterious Satoshi Nakamoto when in 2008 he released the white paper “Bitcoin: A Peer to Peer Electronic Cash System”. Not long after he released the first bitcoins and the accompanying software “version 0.1”.

It was set up as a “purely peer to peer version of electronic cash [that] would allow online payments to be sent directly from one party to another without going through a financial institution,” according to the original Bitcoin whitepaper. It is viewed by its champions as a utopian vision of a monetary future.

However, the blockchain technology which allows all cryptocurrencies to run is what interests experts around the world. Blockchain is a ledger that everyone can see verifying all the information. In the case of cryptocurrency it runs a series of cryptographic proofs every ten minutes on all prior transactions. And then the whole network can check and make sure that the network is doing what it is supposed to do, and no one is misbehaving.

Steve Strange, CEO and founder of Health Metrics, believes Blockchain has many applications beyond currency and has recently published a paper looking into its efficacy in predicting falls in aged care.

Aged Care Inite spoke with Strange to find out more.

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