Top Blockchain Trends To Know About
Blockchain technology has evolved over the past few years and now seems more promising than ever. A lot of applications are possible with this technology and many industries are now ready to embrace this new technology. Here we are going to look at the current blockchain trends.
Blockchain As A Service (BAAS)
Some enterprises are now adopting Blockchain As A Service (BAAS). This cloud-based service lets the companies form digital products like smart contracts and decentralized applications with the help of blockchain.
Bitcoin is volatile and stablecoin is now the preferred form of cryptocurrency due to its stable nature. Investors will like it as they will be able to make a risk-free investment without worrying about currency devaluation.
Resolve some social media issues
Privacy violations and scandals are some of the pressing social media issues today. Including blockchain in social media can evade such a problem. So, if you have blockchain in place, any content you publish will remain unaltered and it won’t be possible to duplicate the content as well. Users will be able to maintain ownership of the content, thus preventing any privacy violation.
In the past, only wealthy people could invest in things like property or fine art that needs time to sell. It was difficult for people with less capital to invest in these items. Now because of blockchain people can buy shares of these assets that are digitally supported, without requiring too much capital up-front. They can later sell them off when they need it. Dealings will be made using ‘smart contracts’ and this will cut off any middlemen like lawyers or brokers, thus reducing the cost of investment.
Internet of Things (IoT)
Internet-of-Things (IoT) is now becoming widely available in the market. Blockchain can provide a secure way of communication between various devices. If devices don’t use the same software, blockchain makes it possible for the devices to get connected. As IoTs are prone to cyberattacks, blockchain can provide a secure solution.
Transform the supply change industry
The supply chain industry faces a challenge every day when making payments to customers, manufacturers, or other people involved. It often takes many days for the payment to get processed, which eventually affects their work. It is often necessary to make contractual deals in which you have to involve the lawyer, thus incurring extra cost. Blockchain can transform the supply change industry. It can make payments more secure, faster, and cut off any middle man in as well in the process.
More job opportunities
As blockchain will be adopted by many industries, the demand for blockchain experts will increase. So, there will be lots of job opportunities in this field. The job will be demanding and you will get a high salary if you can show your expertise in the field.
Blockchain will transform business in the future. More companies will incorporate blockchain in their business for security and efficiency. Companies might need to rethink their processes to align them with the blockchain technology.