Blockchain is one of the most dynamic new technologies, but up until recently, there hasn’t been a lot accomplished in the way of creating viable distributed software titles. In fact, the most recognized technology created with blockchain is cryptocurrency. This says quite a bit. Today, we’ll look at blockchain-enhanced software and how it’s only a matter of time until it is a commonplace addition to most businesses.
Blockchain is typically associated with Bitcoin. This shouldn’t come as a shocker because primarily that IS what it’s used for. However, blockchain isn’t a program, it’s not a product -- it’s a technology. Blockchain technology has endless possibilities when it comes to real world implementation. In the near future it will likely be utilized in many business transactions due to its versatility.
You’ve probably heard the term “blockchain” at least a couple of times over the past year, but what does it mean, and how are organizations using it? The most obvious and well-known use for it is cryptocurrency, but it’s far from the only use of blockchain. We’ll delve into what blockchain technology is, how it is currently used, and how it might be used in the future.
Blockchain technology is mainly known for its use with cryptocurrencies. Even though the values of cryptocurrencies have leveled off after the incredible growth it has sustained over the past few months, users are still attempting to use cryptocurrencies to make a little bit of extra cash on the side. Of course, if there is money involved, you can bet that there will also be criminals and shady activity surrounding it.
With the meteoric rise of Bitcoin’s value, and just as sudden decline to less than half of its highest value, cryptocurrency has been pulled into the public eye. However, cryptocurrency is only one use of blockchain technology. We’ll examine a few of its other potential applications.
As 2018 progresses, certain technologies and implementations are becoming more prominently used by businesses. These trends are anticipated to continue, so it only makes sense to embrace these technologies sooner rather than later. Today, we’ll review some of these technologies, why they are expected to grow, and how you can use them to benefit your business operations.
