Blockchain has been generating much positive buzz in tech communities and even mainstream media. This hype around blockchain technology has resulted in mixed results. The benefits of blockchain and its capabilities have had their cases spread further out, beyond tech communities; this hype has also had an adverse effect especially on business communities which may have failed to take blockchain seriously.
Blockchain has the potential to influence enterprises in a way similar to or even higher than what the internet had. While business circles are still shrugging off this revolutionary technology, tech companies are lining up array investments to try and tap into the potential that blockchain has. As some lineup investments, others are coming up with solutions within the blockchain space.
✳️AERGO is one of the companies that are providing solutions to real-world enterprises. Its platform is designed to serve exclusively towards enterprises. This exclusivity is meant to keep the platform as efficient as possible by restricting the type of dApp’s that can participate in the AERGO ecosystem.
Taking Blockchain Seriously
Analyzing through Deloitte’s survey on blockchain, one gets the feeling that blockchain indeed has a bright future ahead. It is therefore upon enterprises to take up this technology before it’s too late. Technology is advancing at a breakneck pace that becoming obsolete is as easy as skipping an update on your smartphone.
Blockchain has some serious firepower that cannot replicate over centralized platforms. Enterprises are going to appreciate a platform which reduces operational costs and maximizes efficiency. Only blockchain can provide that in this day and age. Companies that integrate blockchain through dApp’s are likely to become more successful in future especially if blockchain technology is to be integrated globally.
✳️Blockchain’s main strengths; trust, transparency, and security put it at the forefront of innovation as those are the key elements that concern world markets.
Just like any new technology, there is likely bedding in period before industries are fully accustomed to how they work and how best exploited for maximum gains. Blockchain is still in what is referred to an ‘experimental phase.’ Most companies are testing it out to see if it fits their mode of operations. There is still a lot to be understood and debunked on blockchain technology.
Currently, the most notable challenge is concerned with how well blockchain platforms handle traffic. This obstacle is one of the major areas addressed in the AERGO platform. Handling changes in usage services offered through dApp’s effectively and efficiently is a crucial target of any blockchain platform. AERGO’s execution will lead to such experiences.
✳️Apart from scalability, uptake of blockchain based platforms has been slow due to the volatility that has plagued platforms such as Bitcoin and Ethereum. The public is yet to understand blockchain in its entirety fully and are fearful of outcomes such as failed platforms. However, as more people are made aware of the capabilities of blockchain, its adoption will increase overtime substantially.
✳️Programming languages used in blockchain platforms are also a hindrance to innovation. Developers are conversant with languages such as C++ whereas most blockchain platforms would require smart contracts written in solidity, a language that is known by a tiny percentage of the developers’ community. A change in this requirement would also help boost the acceptance and adoption of blockchain technology.
Freedom of Creativity and Innovation
The world is experiencing a surge in the application of dApp’s. However, the variation between their services is small. Differentiation from the masses is the goal for most upcoming dApp’s. Most dApp’s are based on Ethereum as it’s as the industry standard, yet its obvious challenges are likely to impede proper operations of dApp’s. The protocol used therefore plays an essential role in enabling developers and innovators to provide an application that is superior to the rest.
AERGO creates a platform where expression of creativity and innovation executes with as little restriction as possible. This opportunity suffices through the developer-friendly approach the platform has taken. Language problems have prevented proper exploitation of blockchain technology. AERGO deals with this through AERGOSQL.
- AERGOSQL focuses on the development of smart contracts using popular languages in the programming space. It includes a smart contract engine with SQL.
- Developers are likely to appreciate this move by AERGO as it makes their work easier.
Blocko, the company behind COINSTACK, will help in the creation of a developer-friendly environment. It is vital that AERGO provide flexibility to developers and IT suppliers. AERGO is built for enterprises that have shared and unique challenges. This calls for flexibility to accommodate the numerous variations in services that each enterprise may require.
✳️Blocko is working on core elements that will provide an extensive and comprehensive integration and support service for dApp’s hosted on AERGO. Through AERGO, developers will have all the resources to create dApp’s that work as desired by their clients due to the limited restrictions exhibited by AERGO.
AERGO’s scope is only limited by the dApp’s designed to work with its platform. Any enterprise that has an innovative dApp idea in mind can get the best out of their approach through the AERGO platform. The need to streamline services across various industries is likely to increase the popularity of AERGO in the business world.
Governments will also benefit from AERGO’s set up. Many governments are now embracing technology and blockchain is among the critical technologies assessed because of its significant advantages in privacy, transparency, and security.
Government and Government Institutions
Governments manage entire countries. They need the best tools to deliver management capable of pleasing their citizens. Many government institutions suffer from numerous security breaches each year. This is frequent, especially where data stored in digital form is available, as such appealing to hackers for potential data thefts.
Third-world governments are even more vulnerable as digitization is still an evolving concept in their respective countries. Being that the future of the world’s economy relies heavily on upcoming markets which are mostly third-world countries, it is crucial that their governments stay equipped with the most appropriate technologies that will help spur growth.
Sensitive areas such as identification require the highest level of encryption that can be provided by dApp’s. AERGO’s platform is capable of handling traffic better than nearly all existing protocols as it is a fourth generation blockchain specifically designed to manage enterprises.
Government identification systems can be taken care of by dApp’s built according to the guidelines and requirements of the government. Blockchain provides the safety, privacy, and security that this data requires. Citizens will also rest easy knowing that their information is safeguarded. Developed countries will also need these systems as they have had their fair share of hacks as well.
✳️For example, the United States had its voter database breached in December 2015 which affected more than 191 million US voters. More cases on these data breaches viewed through this link.
Apart from identification, governments also have institutions streamlined- for example, the DMV and the delays experienced when issuing driving licenses. The same problems also encountered in developing countries such as Kenya where applicants can go for months without receiving their driving licenses.
✳️The issues may be different in both situations, however, solved by a well thought out decentralized application. The transparency that comes with blockchain can alert applicants on the stages of their license development and when it is likely to be ready thus applicants will get definite answers and not estimations as seen in the case of Kenya explained here.
Hospitals are the other institutions that could benefit from AERGO’s platform. Healthcare requires specialized applications that conform to hospital operations. Filing systems, managing drug stocks, and similar activities covered when designing a hospital dApp. AERGO’s technical features allow it to create private chains where such specialized operations can take place.
Hospitals also operate on-time, and any delay would be disastrous for their operations. AERGO’s private chain feature will ensure that only hospital data is stored in that specific chain and can be retrieved whenever necessary. This dApp could also cover emergency alerts that could help prepare hospitals in pro-actively, giving them a reasonable estimation of the number of patients handled in case of potential disasters.
✳️Records will also be kept safely and securely in a manner that the data is only accessible to the patient concerned and the doctor involved in the treatment. This will help increase doctor-patient confidentiality. Hospital operations are also likely to become streamlined as processes run smoothly over blockchain.
✳️Sidechain technology used in AERGO will allow hospitals and any other enterprise to work based on contributions from various departments or even other hospitals of the same or different chains. Each hospital or department can have its own mainnet. This is likely to improve the efficiency of services provided.
Aligned With The Future
AERGO is advocating for autonomous business. These are businesses that run with minimal input from individuals. Deals are done directly between the producer and the final consumer. AERGO, therefore, has the potential to disrupt business models that the world is accustomed to entirely.
This change may be uncomfortable; however, such changes may be necessary if the world is to achieve even more efficiency in its day to day operations. For example, the price of farm produce is significantly higher in stores even after factoring in frictional costs. The number of intermediaries that exist between the farmer and the final consumer is the cause for this marked up price.
Blockchain can reduce this number or elven eliminate them thus making such produce cheaper.
Such set-ups where the number of intermediaries ends up affecting the final price of the product exist in various industries. Through the various dApp’s it will host, AERGO, has the potential to change this thus making the cost of living cheaper for everyone.
Most enterprises are now adopting technologies such as the internet of things to improve their efficiency and to maintain relevance in the ever-advancing world of business. Adoption of the internet of things will require decentralized applications and a platform that can handle multiple streams of data securely, effectively and efficiently.
✳️Enterprises that are following the internet of things are those that deal with supply chain management. For improved transparency and efficiency, the internet of things proves to be the most appropriate technology. When coupled up with blockchain, the combination becomes almost unbeatable, eliminating any obstacle that may obscure the goal of supply chains.
✳️AERGO can handle dApp’s working with the internet of things.
The AERGO Chain
This will act as a sort of open source operating system for blockchain. It will house AERGOSQL, and it will also contain public decentralized enterprise blockchains run by node providers- the AERGO Hub acts as a sort of gateway to AERGO Chain. It is the public interface into the underlying AERGO chain.
The AERGO Hub
The AERGO Hub will also feature public and private repositories. Since blocko is behind some of the core technologies in AERGO, it is no surprise that these repositories meet the industry tested implementation framework and API compatibility of COINSTACK which has been proven by its clients around the globe.
The AERGO Marketplace
AERGO Marketplace will be just that, a marketplace. It will contain software applications, and computing resources all made to function effectively and efficiently in the AERGO ecosystem. The software applications are likely to provide essential elements required for a dApp or general solutions that an enterprise may need.
✳️All these services transacted through the AERGO ecosystem, require the AERGO token which is the medium of exchange accepted in the.
✳️AERGO’s platform is technically sound and fully equipped to deal with the worldwide adoption of blockchain technology. It is a platform that will empower developers to work on even more world-changing Dapps. Enterprises are likely to grow and get even better once they adopt blockchain technology through AERGO.
To find out more about AERGO and its proposed platform visit this link.
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The Future of Enterprise and Blockchain Technology was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.