Blockchain Technology: Shaping the Future of Business

Bitcoin transactions, first made us aware of the transformative tech, that emerged about a decade ago, and now is considered the most valuable disruptive technology. Since then, the blockchain technology has traveled far from what it was a decade ago. Once, just an experimental tech in the world of digital transaction processing, now has become one of the mainstream disruptive tech, applicable across industries.

Application of the said technology has traversed to a plethora of industries, comprising supply chain, data security, telecom, travel, land registry, healthcare, and music, to name a few. Further, its compatibility in working with other disruptive tech, such as AI, IoT, and Machine Learning, makes it even more valuable for business applicability.

Believe it or not, blockchain industry is going to surface as the most promising sector to invest into, in the times to come.

5 Blockchain Trends To Rule 2020, and the Successive Decade

  • Global Tech Giants Will Get Attracted Towards Its Adoption

Big tech enterprises, such as Walmart, IBM, and Amazon, will make use of the blockchain technology in their product and service offerings. They will be seen exploring the potential of the said tech in context of application in their business models. Blockchain application, in many of the big tech companies, is on a beta stage with numerous proof-of-concepts.

In the diamond supply chain industry, the disruptive tech is already being utilized for tracing diamond pieces at every stage of their logistics lifecycle, starting from their journey from the diamond mine, to the end user (consumer). The mentioned application of blockchain tech prevents illegal-sourcing of diamonds.

  • Integration with IoT

Blockchain integration with IoT, however, is not a new concept, but in the next few years, the trend will intensify to new levels, altogether. IoT service providers, across the world, have long been battling with the issue of data integrity and security.

Use of blockchain tech in IoT gadgets, is being seen as a prospective solution to attain increased data security and privacy. Besides, data transfers have become safer in the last couple of years, with initiatives been taken on the integration of blockchain with IoT devices.

  • A Large Number of Startups& New Players Will Enter the Market

Realizing the potential of bockchain-based business solutions, a number of startups will emerge in the next few years, backed by eminent venture capitalists and private equity firms. Even the experienced entrepreneurs will try to barge into the said industry with big hopes and aspirations.

  • Blockchain Technology Will Help Secure Digital Identity

In the current day and age, an individual’s digital identity matters a lot, but, is 24/7 exposed to cyber threats, and hacking. Leakage of confidential private information, and its illegal usage by businesses running under diverse industries, is a big issue at the moment.

Given the number of accusations made on prominent technology firms like Facebook, of unlawful business use of users’ personal data, the solution to the said issue will bring in a ray of hope for the entire world. And blockchain technology has the potential to do just that.

  • Millions of New Jobs Will Emerge with the Adoption of Blockchain

Disruptive technologies, like blockchain, machine learning, artificial intelligence, and data science are trending across the world, but are relatively new. And hence, there are a very few skilled professionals that are industry-ready for the related job positions. And it’s quite evident that enroling in a blockchain certification program can help make you a mark in the said industry domain.

As the technology evolves with time, there will increase the number of job opportunities accordingly. Millions of new jobs in blockchain tech will surface in the next few years. Blockchain dveelopers, alraedy are consiredamogn the most-demanded professionals in the tech industry, both in the private and public sector. The forecast says that the number of job opportunities in the field will multiply manifolds in the near future.

Blockchain career aspirants, hold a golden chance, in the current times, to make a rewarding career in the tech industry.  May the luck favors them, when in need. Best wishes!