Companies are quick to learn more about blockchain and how they can apply this technology in business. Blockchain art is undeniably one of the most popular technologies in the business world. And companies are competing to learn more about it and see its possible applications. While some dismiss Blockchain, many compare decentralized “book technology” with the dawn of the Internet, when consumers and technologists were equally enthusiastic about the fascinating new technologies, but things were still too new to ensure practical uses in our day to day.
Blockchain: Technology in business
There has been a lot of enthusiasm about technology, but the real cases of use are still limited. Once this phase of experimentation is completed, we will see some main applications that will turn technology into mainstream, but are difficult to predict at the moment.
It’s not so easy to get into Starbucks tomorrow and buy a coffee with bitcoin. An application to share money that uses blockchain but allow you to send money from your phone to anyone, anywhere in the world. We have not arrived yet. We will continue to use cash for things like that. But where blockchain allows things to become interesting is the cross-border flow, in which money is sent and needs to be exchanged for another. There is a good use case there for bitcoin.
When Blockchain does not make sense?
The companies have adopted practices of adequate information storage, business intelligence and artificial intelligence. But because you have a lot of data, that does not mean that blockchain is the perfect solution.
You may not want the data store to be published in a blockchain. You may not want the financial data in a chain of blocks. Ultimately, you could have a record of our financial history, perhaps not in a public block chain, but even in a private one.”
The future: where blockchain makes sense by applying this technology in companies
Consumers may never be fully aware of the technology in future use cases. In other words, you can rely on blockchain in the future. And you can benefit and even use it daily in some applications, but you will not consider it explicitly as blockchain. It will be known that, for example, you can send money to friends around the world quickly and without commissions.
Blockchain will operate in the background . Users may not even know they are using it. But they will appreciate the benefits, such as privacy and fast payments.
As with consumers, many of the core applications of cryptocurrencies and block chains that we will see in the coming years may be invisible to small and medium enterprises. A chain of blocks can be used in the back of a service, but the consumer or small business may not need to know. You may only enjoy lower prices because of that.
