Blockchain strengthens position

Sustainable vector — trust and implementation

Positive trends

Experts have been predicting a great future for the blockchain for several years in a row, but it still has not revealed its true potential in the digital industry. The full realization of the opportunities provided by the new technology is getting closer to reality — visionary market participants began to take part in the formation of the blockchain ecosystem.

Blockchain took a slow start, but 2021 was the time that showed its main prospects. How to determine the success rate of a particular technology?

The real benchmark for its relevance is the confirmed deployment cases, whether in the form of blockchain startups or new infrastructure projects. They are the measure of the value of the blockchain for the information industry.

This year has been unprecedentedly challenging in many ways, but it has been a breakthrough year for blockchain. It should be noted that the slow adoption of distributed ledger in crypto is not all that unexpected, given that its target markets are highly regulated, complex industries such as the financial services sector. Comparing blockchain adoption to the rise of clouds, IoT, and AI would be misleading simply because it is more suited to complex, collaborative, versatile and mission-critical use cases.

Next generation Data processing

Optimism about blockchain in the financial industry, and especially in its corporate environment, is growing — clients saw a practical value in it, so they do not regret it either time or money.

Gartner predicts that blockchain will be fully scalable by 2023. This positive attitude is shared by IPC experts. They believe he has a promising future, especially in the corporate environment.

Next-generation blockchain organizations are demonstrating how this technology can be meaningfully and meaningfully applied in the real world. For example, enterprise software developer R3 building Corda forms an ecosystem of more than 200 financial institutions, regulators, trade associations, professional service providers, and technology companies.

Corda is a blockchain platform specifically designed for enterprises, consisting of two interoperable and fully interoperable distributed ledgers that solve problems such as transaction confirmation and data confidentiality, as well as remove scalability restrictions.

blockchain united

Effective partnerships

To stay ahead of the blockchain timeline, Application Service Providers (ASPs) and users need to collaborate on an operational level with their respective service and product providers, prioritizing integration.

The real value of this approach lies in supporting the hyperscale platform community like Microsoft Azure and AWS, along with Open Source platforms like Connexus Hub IPC, which provide end-to-end solutions to business challenges.

The API is at the forefront of this. A partnership approach to API integration makes it easy to access data, exchange ideas, and drive innovation for the needs of the company and the market at large. Service providers can play an important role in supporting operations in a systems-oriented way. They act as a connecting element with key participants in economic relations.

New Horizons

While the spread of the pandemic has hit businesses hard and its health, social and economic implications have yet to be explored, blockchain can help the global economic recovery.

World Economic Forum experts believe the technology “will benefit all countries currently affected by Covid-19” as it provides an effective approach to reducing trade costs globally.

Blockchain digital initiatives are independent and open to all stakeholders. They enable users to act quickly at reasonable costs and a low threshold for innovation, and keep the economy afloat in the face of an economic downturn.

Although the market initially gave blockchain a cold welcome, this year it looks like the technology will mature and interest in it will grow significantly.

Mass acceptance of innovative tools will have a positive effect on all subjects of the economic system — for an ordinary user (an application for exchanging monetary assets without intermediaries and borders), for a huge corporation (transparency of intangible flows, stability and security of a data array).

Keep for updates.

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Blockchain strengthens position was originally published in DataDrivenInvestor on Medium, where people are continuing the conversation by highlighting and responding to this story.