Why I believe in Blockchain

Dear Intrachain Community,

Last week I have in detail explained what process mining actually is. Today, I want to come back to blockchain and explain why I so strongly believe in this technology and why I believe it will revolutionize global markets.

I strongly believe in blockchain. This is even though Blockchain is still in its Infancy. If you want to compare blockchain to the Dot Com Era, I would say the blockchain era has only reached June 1997.

Blockchain will Disrupt Countless Industries

Even though blockchain is still in its infancy, there are stong signs that blockchain will at least distrupt 35 unique industries in the next 5 years.

These top industries include:

1. Financial Transaction Processing
2. Micropayments
3. Banking
4. Supply Chain
5. Crowdfunding
6. Securities Trading

Blockchain’s Promise

I believe that blockchain promisses to provide decentralized control, trust, transparency, enable new business models, and ensure data resiliency will accelerate it’s adoption. Due to blockchain, any party is able to both review previous entries and record new ones, although most blockchain networks have complex rules for the addition of new groups of records, “blocks,” to the chain of previous records. The blocks and the contents within them are protected by powerful cryptography, which insures that previous transactions within the network cannot be either forged or destroyed. In this way, blockchain technology allows a digital currency to maintain a trusted transaction network without relying on a central authority.

Because of these characteristics countless enterprises are already excited about blockchain, and many corporates like IBM are actively taking leadership in the space.

At this point, blockchain is a technology with an exceptionally broad set of potential uses. Although blockchain is most famous for its connections to the blossoming cryptocurrency world, several other applications have already been explored. What I found most exciting is that new ways of utilizing blockchain emerge every day. As such, whether you are directly involved in the digital currency space or not, it’s essential to develop an understanding of blockchain and how it may be used to transform the business and investment worlds.

Blockchain is the future! In the coming weeks I will elaborate on many more topics in the crypto world that I find exciting! Stay tuned.

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I will keep you posted on exciting angles of the Blockchain Industry. In the meantime, feel free to contact me on Telegram to chat with me and my Co-Founders.