Solving business problems with blockchain ensures efficient functioning of an enterprise.

Technology is evolving at a rapid speed and the hype about blockchain indicates that it is one of the trending technologies that show a lot of promise. But getting your head around the underlying concept isn’t easy and can get overwhelming.

As the struggle to raise profitability continues, innovations like blockchain could offer investment banks a lifeline. Blockchain – a catchall phrase for distributed ledger technology – is a new type of database system which enables multiple parties to share access to the same data, at virtually the same time, with an unprecedented level of confidence.

Blockchain is revolutionizing the way we transact by giving the world a new domain of currency – the cryptocurrency. But, blockchain has the potential to do more than just transactions. In this article, we look at possible use-cases of blockchain and address the chatter around blockchain being the new Internet.

With all the hype around “blockchain”, I was thinking the other day that people are starting to get blockchain fatigue. The term itself has been heavily overexposed – and it’s probably not the best time to write another blockchain article, right?

Until now, we have read about this ground-breaking technology called ‘Blockchain’ and smart contracts that has the potential to disrupt industries across the globe. Recently, companies like Kodak and Reliance as well as countries such as Venezuela and the UAE have put up their plans to introduce crypto currencies in their respective companies/countries. Kodak witnessed a 220% surge in it's share price! Seeing the early adoptions and implementations, it is very natural for us to think of implementing Blockchain into our businesses.

Cybersecurity is important because all our data is stored on the web. A hack could put our credentials on the line. How blockchain can help in improving cybersecurity is interesting to see.

Blockchainin developing countries may mitigate the problems in the existing infrastructure and become the vehicle for an egalitarian society.

One single example of the application of blockchain and the benefits that followed are enough to trigger curiosity for several other fields to follow. Traditional postal service is, interestingly enough, one of the oldest ways of transporting our parcels from one part of the country to another. Being the oldest means of transportation for mail and money, postal services have been known to all households. So why are we suddenly talking about the application of blockchain in postal services?

The application of blockchain in taxation is the newfound panacea for the many existing loopholes in our obsolete tax systems.

Within the current food supply chain, adulteration is a key safety issue. The food that reaches our plates goes through many touchpoints from the farmer to the consumer. This is why ensuring food safety calls for multisectoral collaboration.

Blockchain is on a mainstream tear. Over the Thanksgiving weekend alone, Coinbase — the United States’ largest exchange for trading blockchain’s blue-chip crypto currencies, bitcoin and ethereum — added over 100,000 discrete accounts in a little over 24 hours. Not surprisingly, both bitcoin and ethereum zipped to all-time-high valuations and continue to dominate market discussions in traditionally buttoned-up magazines and outlets.

Blockchain as a Service (BaaS) focuses on providing blockchain functionalities to organizations that do not wish to create their individual platforms for the same.

With the blockchain technology gaining popularity and its applications finding widespread acceptance, the masses are gradually realizing the importance of blockchain in daily lives.

Blockchain is currently being hailed as revolutionary as the invention of the internet, and the heavyweights in the finance and business sectors are already investing millions into its development. But for many, blockchain remains a complete mystery.

In 1989, Tim Berners-Lee created the world wide web; an invention that was hailed as revolutionary and a catalyst for a whole new era of technological development – the rest is history. Society is now in many ways completely reliant on the internet, and its impact affects the world in virtually every aspect of peoples’ lives. Yet despite the seemingly unmatchable change that the world wide web has brought, similar revolutionary claims are being made once again today.

With the amount of focus on Blockchain tech over the last year, I thought it would be great to get an opinion piece from the founder of a blockchain led company, Ben Beasley, to contribute his thoughts on where blockchain might disrupt our current financial markets. Below is his post. 

The UK government is getting serious about blockchain, and the future of fintech could be the key to delivering better public services.