Blockchain: Trends in 2019

With the accelerated evolution of specific blockchain transactions in 2017, which have taken most of us off guard, the following year has proven quieter, more instrospective giving more opportunities to reflect, broaden and enliven the purpose blockchain appeared in the first place.  Thus, specialists and organizations in various fields acknowledge the need of blockchain education as well as defining, developing and deploying it as a service BaaS, Blockchain As A Service.

More blockchain education for the general public means that blockchain’s

  • Innovative concepts
  • Broadening use beyond the cryptocurrencies
  • Enlarging the coverage of economy sectors beyond banking and finance

make the blockchain promoters to push the boundaries of knowledge and spreading it to areas where more flexibility, less traditionalism and a genuine desire for progress precedes the risks, for example retail sector or entertainment where security, timeliness and accuracy of transactions is still a must while conservatism in using a specific old proven technology is not.

Besides the information tech specialists the promoters can include other persons such as subject matter experts, and general public, people who would use and desire to us blockchain for the purpose of improving the business transactions. Therefore, the projects which can be satisfied by blockchain will combine the knowledge of different specialists and users who can look, review and decide which project to take and complete in the blockchain technology. This leads us to the next point, providing blockchain as a service BaaS with the capabilities, power and connectedness to world wide networks.

Blockchain as a service can create an expansion of its use beyond certain sectors, it could serve a variety of fields such as banking, finance, media and entertainment, health care, supply chain, government and public sector, manufacturing and energy generation and distribution, and it would provide strong networking capability, flexibility, governing networks with ease.

In its starter form, blockchain takes the shape of a general purpose platform which help organizations create models for their enterprise transactions and transform the way they perform regular business in areas like land registry, loyalty programs, digital collectables, intellectual property rights, payments, reservation systems, disease monitoring. Blockchain facilitates the configuration and building of required solution rapidly where the expertise of tech people is already embedded in the APIs.

Creating an efficient, secure, and easy to use system by a mix of experts and users allows for less time spent to build it, less costs involved to create it and improves the ROI. Blockchain supports the “shared IT” concept meaning that each user has some responsibilities and no user is in full control of the system. Since during the past few years Cloud platforms have evolved to satisfy customers’ essential needs in terms of accessibility, performance and security, blockchain is expected to offer integration services with Cloud and even create blockchain that mirrors a Cloud platform with its particular features.

Just these couple blockchain above-enumerated 2019 trends can open numerous opportunities to enhance the economy sectors while improving the returns on investments, providing additional wealth and satisfying the blockchain beneficiaries at a superior level.

 

Cory Popescu

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