Where is Blockchain Heading?

Brandon Rodriguez
Aug 31, 2018 · 3 min read

With all of the attention and publicity that cryptocurrency has received over the last couple years, it is clear that blockchain has garnered the interest of several groups of people.

Interested parties include:

  • Investors
  • Engineers
  • Corporations
  • Governments
  • And many more groups looking into the potential and benefits of using blockchain technology

With so many groups of people taking interest, there is no singular answer for where blockchain is going. The possibilities of engineering are endless. As blockchain development continues to escalate, 2018 has seen movement towards blockchain adoption and regulation.

Blockchain adoption is essentially moving the industry from the development stage to the application stage. How are we going to use this technology in everyday life?

Blockchain is predominantly being used for data sharing across organizations. The ease and accuracy of sharing data using blockchain has potential to cut certain process times from weeks to days and ensure that data is being presented accurately.

Walmart; for example, has teamed up with IBM to develop a blockchain system for tracking its live-food business. As recently as July 5th, Walmart filed a patent for a blockchain-based secure delivery management system. Could this be an effort to help the giant compete against other online retailers such as Amazon? Time will tell.

Large retailers like Walmart and Amazon stand to benefit massively from inclusion of blockchain into their supply chains and into data analytics. With big data being a dominant topic of discussion in corporate America, one can only imagine how blockchain will be incorporated to track information on end-users.

Image result for vechain

An example of a blockchain platform aiming to incorporate blockchain into real-world businesses is VeChain. VeChain has been one of the earliest movers in blockchain adoption and has shown remarkable success in a very short period of time. Their platform has been applied to a variety of industries such as retail, accounting, agriculture, automotive, and software. This notable early mover has partnered with several organizations such as the Chinese government, Microsoft, Unilever, and PwC to name a few.

Adoption over the past year has shown significant strides towards a more usable blockchain ecosystem. Now that the overall public and large corporations have taken notice of the potential benefits blockchain may provide, it is a matter of time before the engineering catches up to the hype.

This November 2nd, the Gator Blockchain Club will be hosting the first Florida Blockchain Conference in Gainesville, Fl.

Attend to get an inside scoop on the current blockchain environment and learn from industry leaders what their take on the space is.

Click Here for more information

Brandon Rodriguez

Written by

Accounting Masters Student <> Blockchain Enthusiast

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