Will Blockchain Technology Live Beyond The HypeDecember 4, 2018
Everyone is trying to understand the basics of blockchain technology. In a few years from now, we cannot be sure about how much this technology would have become an integral part of commercial and non-commercial transactions happening in everyday life.
The technology might have become advanced and sophisticated, and there are chances for this technology to fail to survive all the hype and people might have buried this alternative. We are yet to witness what this technology can do for us in the years to come.
No matter what, anyone whether big giants or small businesses who are trying to fundraise to establish their brand cannot afford to miss what this wonderful technology can provide them with. Your competitors are already competing for your business. The laborious task of monitoring the archives of events has the key to solving the tiniest business conflicts causing the biggest threat to your existence. Blockchain technology can help you meticulously track down to the mistakes on the dot, their frequency and by timestamps, which is very important for any Research and Development task at hand.
Ideas and expertise need to be organized systematically. The mind map that you form during a brainstorming session can be bizarre; however, when you assemble the bits, you will get the answer to the puzzle. The details on the blockchain transactions can seem overwhelming and too much, but there is the key to the breakthrough you never thought existed for your niche business type.
So, if you thought no one started it, they are already ahead. Several blockchain technology codes have been patented to organizations. Alibaba, for example, is the most patented technology in the whole world. The patents range from utility, design, and invention. When internet giants are using it, there is a purpose to it, and they are there for a purpose. If they did not find a valid reason to invest in the technology, they would not invest.
Before anyone can consider whether this technology should be given priority or not, they knew that they have to and the Giants have already patented their apps. Blockchain technology according to Alibaba is going to be indispensable in supply chain management, and Alibaba believes that this technology is a must when it comes to fighting food fraud.
Just like cross-border payments there needs to be cross-border supply chain as well. These projects can be used to track shipments from across the world for different products from different destinations. This technology already has enough reasons to be here to stay. It is up to us to adopt. Companies like XinFin are playing a major role in helping enterprises have their customized blockchain application using XDC Protocol.