The development of blockchain and its future impact

Key facts:

Applications blockchain for a variety of industries, revolutionizing the way that businesses operate.Blockchain also help to reduce costs and have a return of investment higher.Since the release and increasing adoption of Bitcoin and the technology blockchain in 2009, individuals and businesses have revolutionized the internal and external processes in a way that before the turn of the century seemed to be impossible. With the rise of blockchain, have emerged in different use cases to provide solutions such as cost savings, security and transparency.When Bitcoin was created in the year 2009, no one expected that an increase in its popularity as it has done in the last few years. The price of Bitcoin started at$ 0.001 and remained static for a couple of years, since there were no significant events or a true adoption.Some of the alleged events that drove the price increase of Bitcoin were the banking crisis of Cyprus and the DDos attack on the servers in the Mt. Gox. After these and other key events, the price of the first criptomoneda has experienced a great fluctuation, reaching in 2018, its highest number with the number of US$ 19.783,00.It is important to mention that, apart from the revolution of Bitcoin, this technological innovation was also the beginning of something more.

Blockchain and its applications

More than 10 years later, we can say that the best of Bitcoin may not be Bitcoin, but the underlying technology. With the development of new generations of blockchain, different applications for different industries have come to revolutionize the systems and the way in which companies operate. Several multinational companies and multi-million dollar are already investing millions of dollars in initiatives blockchain.According to the Global Survey of blockchain Deloitte 2019, the five main industries that implement technology blockchain in their processes are technology, media and telecommunications; energy and resources; manufacturing industry; science and health care, and products of mass consumption.Companies in retail, such as Walmart, have invested in the implementation of the technology blockchain to track products from its cultivation in the fields to the shelf in the store. This enables managers to track in real-time the origin and the actual state of the products, making it easier for consumers to visualize with total transparency throughout the process of production of the products and items that they are purchasing.Another industry that has adopted the technology blockchain is the industry of medical care. Medical Chain is a perfect example of the use of blockchain. Medical Chain uses technology blockchain to store all the data of the patients and then assign them in books distributed and technology-based blockchain.An application collects the patient’s record in a single place, gathering information and doctors ‘ notes, hospital records, lab tests, medicines dispatched by pharmacy and insurance information. In this way, the patients, doctors or researchers can access to all patient information, from anywhere in the world and find it all in one place.

Some of the companies solutions Blockchain

This is a list of some companies that already provide (and continue providing) these solutions of the blockchain.IBM Blockchain is changing the commercial industries to help redefine the business relationships most important to through trust, transparency and collaboration.The services and applications of blockchain SAP simplify the complex and create trust across all participants.The Protocol blockchain of Traxalt will bring to the business to simplify the inventory, the processing of payments to large-scale, auditability, among others.Consensys is another brand that provides solutions for blockchain. Collaborate with businesses, nonprofit organizations and governments to build, test, and implement solutions blockchain public and private high value.The mass adoption of the technology blockchain is a must and there are many industries and companies that are already implementing and experimenting with an infinite number of solutions, maximum efficiency and automation. Even after all the benefits mentioned, blockchain also help to reduce costs and have a return of investment higher. The mass adoption of this technology will only increase in the coming years.Disclaimer: The contents and the links provided in this article only meet for informational purposes. Breaking News does not provide recommendations or advice on legal, financial, or investment, or replace the due diligence of each interested party. Breaking News does not endorse any investment offer or similar here promoted. For more information click here.

Cryptocurrency Market