The beginning of the post-Bitcoin era

Underpinning the revolutionary introduction of decentralized currency, Blockchain technology surfaced and evolved after Bitcoin made it to the headlines.

It wasn’t just the uniqueness of decentralized currency that captured the attention rather the complexity of background technology of Block chain got the tech-geeks talking.

Blockchain means a block of chains, but contextually the blocks are storage spaces for digital information store in the public database.

Each block consists of a specific set of pieces of information, which could details about a transaction, transacted amount, digital signature and unique hash code for identification.

Blockchain Technology—the now and future:

Digital administrative control and regulations needed to evolve and Blockchain emerged as the savior of what would have been a gridlock trap for the digitalized economy.

In other words, Blockchain empowered the economic system with automated transaction and records, eliminating the chance of data tampering. Bitcoin can be regarded as the introductory session of Blockchain since the technology is still far from reaching its full potential.

Equipped with state-of-the-art cryptography and an open-source distributed database, the applications of Blockchain are no longer restricted to financial and economic aspects.

1. Supply Chain Management:

Offering immutable ledger and transparent and well-stored data, Blockchain Technology serves a great source for real-time tracking of moving goods and equipment. Deploying Blockchain in supply chain management not only opens up more options; rather, it also offers a dynamic way to organize and utilize the tracking data.

2. Healthcare sector:

Generally, the healthcare data includes personal details like medical history, age and gender. Individually, none of this data would be used in identifying the patient, which is why shared storage space is needed—deployment of Blockchain Technology. With an increase in usage of medical devices, this technology helps in keeping the medical devices in line with the patient records while appending the usage as the requirements.

3. Real estate sector:

The real estate market data and information can become unmanageable if not for Blockchain Technology potentials.

From the range of rents in a particular locality to value of property and sale expedition, the technology comes in handy in the verification of individual’s credentials, determining the transparency of finances and encrypting the records.

The entire process of selling and purchasing the property could be fraud-free and reliability for both the tenants and landlord or buyer and seller.

4. Big data and cybersecurity:

The fact that this technology could handle any amount and size of data is what makes it the crucial factor in future of technology.

Therefore, assuring thorough verification of information of every bit of information.

Blockchain will delineate the future prospects of big data and cybersecurity.

The end-to-end encryption and privacy assurance capabilities alleviate every single point of failure, making it the must-have tool in cybersecurity and risk mitigation.

In conclusion, as Blockchain is a disruptive technology, the technology holds the capability to collapse the traditional business models.

Above all, a threat our economic and business worlds cannot handle. Currently, Blockchain is now the foundational technology, setting the right cornerstone for new economic, societal and business.

Next Steps with Blockchain Technology

If you would like to discuss about Blockchain Technology potential, please give us a call for a complimentary consultation. Let us help you to achieve your goals for Blockchain!