What is the role that Blockchain will occupy in the future?
There is no doubt that the implementation of the Blockchain system is a great advance. This is mainly due to the decentralized approach capable of verifying the changes that could be generated in the information, a totally important aspect when talking about trust – a resource that in the current era becomes paramount in the operations of financial systems.
The impact it could generate in the future is, without a doubt, something that cannot be left aside. Even, it is already being called the “third technological democratization”: the first was the Internet, and then 3D printing and the Blockchain would occupy this third place in a longer time mainly through the Bit coin system.
In fact, according to the World Bank, the implementation of Blockchain in the business world could make great progress in inclusion and innovation, mainly due to the high level of trust and decentralization of data held by block chains. This is one of the main reasons why it is so important to stay ahead of this technology. Moreover, as a sign of the development of Bit coin in international accounting, the Abu Dhabi stock exchange, capital of the United Arab Emirates, is committed to the implementation of Blockchain technology within its economic vision for the year 2030 and thus specify for that date a digital transformation from the government side.
It is normal to think that the implementation of Blockchain in Bit coin or other areas of finance assume as the main promoters of the idea of a decentralized future. The fact of expanding this system is no longer just a novelty, but we can see daily examples in particular, especially for their capabilities that are practically unlimited at the time of developing them in existing commerce and future ones to come. In this rising time of digital currency companies like Blockchain Development Company USA can get numbers right. The Block chain is still a type of Internet that will now serve us not only to transmit information, which is the use of the Internet, but to exchange assets with value, such as money.
It is done directly, without having to go through a bank, safe and verifiable. What the Block chain allows us right now is to identify, within a production chain, all the steps and products there are, because all this information has been collected in the same chain, you guarantee where the product comes from and where it will stop.
For example, if we imagine a car, when it reaches its final destination you know where the wheel has been produced, where the rubber comes from, where this has been assembled, etc. So far we have digitized processes that we knew in each of our sectors, and with the Block chain we will be able to digitize transversely. We distribute the information among different actors and each one has its role, and with all the actors together the digital ecosystems are generated, which give spectacular immediacy and transparency.
This can be seen, for example, when you hit the car and sign a friendly part with the other driver. If the two insurers, two banks or the workshop and the expert are in the same Block chain, there are automatically transactions between all the actors and in an order that make everything much more immediate and we do not spend months waiting to be able to repair the car. Technology, such as block chain, has given us the ability to disinter mediate, to work without intermediaries. But would we be safe without inter mediation?
There are those who sell that this technology is safer and more democratic than what we have, there is transparency and anonymity in its use. It is a more powerful technology but the use is defined by humans, and that is why we need to know it. There is a lack of guarantor protection that sometimes scares and it is not clear if we are going to get better or worse. We must know what we must do to control the dark side that it can have. Are companies prepared to adopt this technology? The Block chain must evolve for business use and companies can access it.
Barry Lachey is a Professional Editor at Zobuz. Previously He has also worked for Moxly Sports and Network Resources “Joe Joe.” He is a graduate of the Kings College at the University of Thames Valley London. You can reach Barry via email or by phone.
