Application of blockchain in a "boring&quot

NEPTUNE, N.J., Dec. 27, 2017 /PRNewswire/ – Sterling Consolidated Corp. (OTC: STCC) (The Company), a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, today announced another forward step in its strategic growth strategy. The Company has announced plans for DiMO, a decentralized international marketplace for O-rings.

“We believe that, based on its highly fragmented structure with thousands of distributors and very few suppliers in Asia, the O-ring industry lends itself perfectly to utilization of the Blockchain and smart contract technology,” said Darren DeRosa, the Company CEO. "Our goal is to solve a problem for the entire O-ring industry and bring a new technology to a mature industry. Currently there are very high inventory carrying costs, and international suppliers require up-front payments on purchases which take months to deliver. Both of these factors put great stress on the cash flow of the average O-ring distributor. With DiMO we believe we can reduce financing costs and inventory carrying costs for the distributor and create better and faster service for O-ring customers.

Sterling has partnered with an expert Blockchain tech agency, BlockchainDriven ( to lead their integration efforts. “We consider that BlockchainDriven is the leader in the Blockchain space,” said DeRosa. “Their team will help take our strategic goals and integrate them on the Blockchain, utilizing the latest industry research and technology.”

I noticed two things - some companies may be able to get some kind of competitive advantage by using blockchain, and there are companies doing consulting and other services related to it.

So there are real investment opportunities (as opposed to crypto speculation), but it seems pretty early to spot the winners.


I understand automotive and truck equipment but I sure as heck don’t know much about this blockchain stuff and I’m leery of investing in it. I’m of the invest what you know variety of investor and although I have veered off that path at times, I’d rather get a good enough handle on whatever it is the company does or proposes to do.

Anyone have a nifty website that gives a thorough yet condensed definition and what it means for investors/businesses?

Lucky Dog

I noticed two things - some companies may be able to get some kind of competitive advantage by using blockchain, and there are companies doing consulting and other services related to it.

A thing thing is that some penny stock will tack on blockchain to their company just like they did “dot com” in the 1990’s.

Blockchain is somewhat similar to the development of a new accounting method that allows certain business operations to be done more easily or cheaply or securely, or all three. Or a new manufacturing process that has certain advantages in certain situations.

I don’t know of an article that spells out the details you’re looking for, but I’m coming across more information as I go on.

Yes, there is quite a similarity between adding “dot com” to your name in 1999, and adding “blockchain” to your name today. But some of those companies really did very well, though many more went down the tubes. Shorting opportunities and profit opportunities in both eras.


When I first started researching blockchain technology and cryptocurrencies, I found this presentation helpful. It’s about 90 minutes long but covers the topic extremely well:

“Blockchain is a technology,” Harvey explained. “It is a distributed ledger, which means it can be quickly and easily accessed by many.” He also said that blockchain “is immutable, which means you can only add to it, but not alter history. And it is cryptographically secured.”

Based on accessibility, blockchain is divided into public and private blockchains. While public blockchains do not require trust to access — they are open to all — access to private blockchains is restricted and trust is required. The distinction becomes very important in blockchain’s applications.


If you’re looking for something more condensed (and basic), here’s an article I wrote as an introduction to the topic.

Billionaire and entrepreneur-extraordinaire Mark Cuban recently tweeted that blockchain technology would be “at the core of most transactions in the future”. Fellow billionaire Richard Branson believes blockchain technology could bring about an economic revolution. International Business Machines Corp.'s (NYSE:IBM) vice president of blockchain, Jerry Cuomo, recently declared that 2016 was the year of blockchain experimentation and that 2017 would be the year of adoption.

So what’s all the fuss about? What makes blockchain technology so special that it could bring about an economic revolution? Many investors don’t even know what a blockchain is, much less what makes it worthy of so much attention from the world’s largest corporations and most-revered investors. Some might have a vague notion that it is what powers cryptocurrencies, like bitcoins.

It’s important for investors to understand the implications of blockchain technology, how it reaches far beyond the nascent market of cryptocurrencies and could even disrupt major industries in the near future. Let’s take a closer look at what it is, why so many are excited about its potential benefits, and how some companies are already incorporating this technology into their existing operations.


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I found Patrick O’Shaunessey’s 3 part podcast series “Hashpower” to be extremely interesting to listen to over a few days going to work. Would highly recommend listening for anyone who wants to understand it better.