Photo Credit: Medium.com
In this week's Technology Today, we delve into the surge that blockchain is currently experiencing.
We have all seen blockchain, in regard to bitcoin, fluctuate in popularity and value over the past year - now that blockchain is experiencing a serge, it's a little hard to take seriously. We must keep top of mind, the potential it has to alter the traditional way we perceive business and how it could improve the landscape, as we know it.
Massive enterprise companies, such as Amazon, IBM, Microsoft and Oracle, are all toying with the idea of offering BaaS (Blockchain as a Service) to their customers - as it's the latest and greatest. What's the holdup? Simple - there are still a plethora of kinks in it's infrastructure, making it difficult for enterprises to sell/utilize. Although this is a shortcoming, some companies, as well as the open-source realm, are taking it upon themselves to solve and add-on to the concept - in hopes that it will eradicate current flaws.
Another issue - blockchain was originally linked to bitcoin. Thus, it's reputation is correlated alongside bitcoin and other digital currency methods - making people blocked off - pun intended - from other possible uses. Reputation and connotations can be very powerful - this is one of may cases in which it has inflicted burden, and hindered progression.
WHAT MAKES IT GREAT
What should be celebrated? Blockchain technology is an impenetrable force - once something is noted in the digital ledger, it cannot be altered or tampered with, in any way. Making it one of the most trusted, ownership systems out there. Other ways blockchain would be of great use - decentralized internet, content ownership, tracking authenticity, 'smart' contracts, distributed cloud storage, decentralized social channels, authenticated voting and real estate.
WHAT DO YOU THINK?
Are you over hearing about blockchain or do you think we are on the verge of a revolution? Sound off, below!
Did you find this blog informative? If so, be sure to subscribe to our emails!
Until next time, Techies!