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Blockchain-based networks, decentralized apps (DApps), and distributed ledgers are becoming the foundation of much of your digital life. There's a new immutable digital fabric remaking the internet beneath us, and you probably don't even realize it.
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PCMag reviews products independently , but we may earn affiliate commissions from buying links on this page. Terms of use .

This feature was originally published in the PCMag Digital Edition and has been updated.

Blockchain isn't a household buzzword, like the cloud or the Internet of Things. It's not an in-your-face innovation you can see and touch as easily as a smartphone or a package from Amazon. But in a world where anyone can edit a Wikipedia entry, blockchain is the answer to a question we've been asking since the dawn of the internet age: How can we collectively trust what happens online?

Every year we run more of our lives—more core functions of our governments, economies, and societies—on the internet. We do our banking online. We Low Cost Online Valentino Patent Leather Bow Flats Free Shipping Genuine cNT5l
. We log into apps and services that make up our digital selves and send information back and forth. Think of blockchain as a historical fabric underneath recording everything that happens—every digital transaction; exchange of value, goods and services; or private data—exactly as it occurs. Then the chain stitches that data into encrypted blocks that can never be modified and scatters the pieces across a worldwide network of distributed computers or "nodes."

Think about a blockchain as a distributed database that maintains a shared list of records. These records are called blocks, and each encrypted block of code contains the history of every block that came before it with timestamped transaction data down to the second. In effect, you know, chaining those blocks together. Hence blockchain.

A blockchain is made up of two primary components: a decentralized network facilitating and verifying transactions, and the immutable ledger that network maintains. Everyone in the network can see this shared transaction ledger, but there is no single point of failure from which records or digital assets can be hacked or corrupted. Because of that decentralized trust, there's also no one organization controlling that data, be it a big bank or a tech giant like Facebook or Google. No third-parties serving as the gatekeepers of the internet. The power of blockchain's distributed ledger technology has applications across every kind of digital record and transaction, and we're already beginning to see major industries leaning into the shift.

First up are the big banks and tech giants . Big business will always drive innovation, and the rise of blockchain-based smart contracts (read on for a deeper explanation) turns blockchain into a middleman to execute all manner of complex business deals, legal agreements, and automated exchanges of data. Companies such as Microsoft and IBM are using their cloud infrastructure to build custom blockchains for customers and experiment with their own use cases, like building a worldwide food safety network of manufacturers and retailers. On the academic side, researchers are exploring blockchain applications for projects ranging from digital identity to medical and insurance records.

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Future Lighthouse
Time travelers. Builders of worlds. Psychonauts. We tell stories in virtual reality.

Almost 3 years ago we started the adventure to convert Future Lighthouse into a world-class VR studio and lead the way in VR storytelling. Through hard work and an amazingly talented creative and technical staff, we have become a lead player in the industry. Our accomplishments have been impressive, especially for a startup coming from Spain with a little over $1M of invested capital:

18 VR productions

40 VR festival awards and selections

Ministry of Time, the first ever VR episode linked to a TV show in broadcast . The second episode amassed more than 100k downloads on PSVR in 2 short months.

SnatchVR, production for Sony Crackle that was selected at the Bienale Internationale Di Venezia Film Festival , and profiled by Forbes as an example of how VR can engage TV series superfans.

BeefeaterXO, perhaps the most ambitious VR branded content campaign to date, which was selected as the first ever VR piece in the Tribeca X awards .

Tomorrow, our first original production, which is playing successfully in VR Cinemas around the world and considered a great first experience for someone that has not tried VR.

Melita, our most ambitious original production that premiered at the Venice Film Festival and is licensed to Oculus . According to Variety it is a shining example of what cinematic VR can be.

And in the coming months we will be premiering the following:

2 episodes of Campfire Creepers which we produced for Oculus, starring Rober Englund (aka Freddy Krueger) and directed by Alex Aja

SnatchVR for Sony/Crackle starring Rupert Grint

In the Clouds Afterlife VR for Sony/Crackle

FelixVR for Movistar+ in Spain

And hopefully, Ray , a Lighthouse Originals that has garnered numerous festival selections.

Despite our achievements and potential operational profitability in 2018, sadly Future Lighthouse has not reached its capital raising goals in 2017. We could have grown organically as the industry progressed, but we decided to make a bet and put everything out there. To hire an incredible team of talented people and invest our own money in original content. But the slow down of the market hit us and without investment capital for future growth, we have been forced to make the tough decision to wind down operations in the coming months.

VR investors have been overly conservative and we didn’t catch the first wave of investment in 2016, making our more than necessary second funding round in 2017 unsuccessful.

We are still bullish on the future of VR, but also know that the next couple of years will be challenging. Those that cross the desert will be extremely well positioned to reap the benefits of this new and wonderful medium that will change how we interact and enjoy all forms of content in the future.

We didn’t make it, but we’ve enjoyed the ride. And, foremost, we believe the best part of the VR industry is the people we’ve met.

If you are getting this email, it’s because at some point our paths crossed in our mission to make Future Lighthouse a stand out company. Perhaps we did projects together, perhaps we explored possibilities, perhaps we had great conversations, perhaps you were on our VR Bus in Tribeca, perhaps we partied together or perhaps we just met more casually at an event. Regardless of the circumstance, it has been a pleasure and an honor to meet you and add our little grain of sand to making the VR industry a wonderful market for all.

Although we are sad to see the Lighthouse go, we still think VR is the future. We still firmly believe that it will change us. So, before saying good bye and formally turn off the lights in the Lighthouse, there are some last things in which you can give us a helping hand to keep our legacy alive:

We’ve created amazing content that needs a new home. We are looking for somebody to acquire our IPs :: (dossiers in the links below)

Tomorrow — VR the Evolution of Language that continues to delight audiences in VR Cinemas around the world

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 — Our stand out cinematic VR production that has a great runway for exploitation in other platforms (especially PSVR) and VR Cinemas and is about to launch in China. This is an incredibly well positioned IP that can gather audiences and which parts 2 and 3 were in the works, waiting to get developed.

 — Our VR fairytale that has not yet been premiered but has gotten numerous festival selections and awards.

We are also looking for somebody to acquire our Development Pipeline of projects and amazing ideas for all sorts of VR experiences. Christian Louboutin Slingback Espadrille Wedges Professional For Sale For Sale Cheap Price Inexpensive For Sale AqohQDWVa
.

Or hire a member of our talented team — ultimately it was them that made everything possible!

If you have not done so already, buy Melita for Oculus or Gear VR on the Oculus Store! (Every dollar helps.)

Once again, thank you. We couldn’t have made this without you. Our team. Our clients. Our friends. We deeply admire you and wish you all the best.

Sincerely,

The Team at Future Lighthouse

Like what you read? Give Future Lighthouse a round of applause.

From a quick cheer to a standing ovation, clap to show how much you enjoyed this story.

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Explore SAP blockchain solutions

Simplify complex multi-party processes and create trust among participants – with blockchain and distributed ledger solutions from SAP.
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This blockchain-as-a-service (BaaS) provides the easiest, lowest-risk gateway to experimenting with distributed ledger technology in the cloud. Eliminate the need for a large upfront capital investment and fast-track blockchain implementation across your business.

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Innovate with blockchain and other SAP Leonardo technologies

of global GDP will be stored in blockchain by 2027.

World Economic Forum

Learn how SAP Leonardo’s systematic approach to digital innovation can help you build state-of-the art applications with blockchain capabilities. You can also integrate blockchain with other technologies – such as analytics, Big Data, machine learning, and the IoT.

of global GDP will be stored in blockchain by 2027.
of SAP Blockchain Community members surveyed have started their blockchain journey.

SAP Blockchain Survey

of SAP Blockchain Community members surveyed are already live with some blockchain functionality.

Why SAP for blockchain?

At SAP, our approach to blockchain focuses on more than just the technology. Use cases, business value, and impacted processes are paramount – and data quality and integrity are ensured from the get-go.

Combining your company’s digital core with a vibrant and active business network is key to blockchain success. SAP lives and breathes business networks – and can help you integrate seamlessly and securely.

Our BaaS solution includes an abstraction layer that supports open standards, offers built-in integration with SAP applications – and insulates you and your partners from the technology’s volatility.

Choose your SAP blockchain applications and services

of SAP Blockchain Community members surveyed have started their blockchain journey.
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SAP Cloud Platform Blockchain service

SAP Cloud Platform Blockchain service

SAP Cloud Platform Blockchain service

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SAP Cloud Platform Blockchain service

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Start experimenting with blockchain in the cloud. Our blockchain-as-a-service (BaaS) offering delivers a low-cost, low-risk way for businesses to explore the technology, integrate it into their SAP landscapes, and capitalize on its potential.

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