Shine or die: What will happen to blockchain in 2019?
Do you know that according to the Deloitte’s survey, 23% of more than 1,000 international companies are ready to invest $5–10 million in blockchain in 2019? The respondents consider blockchain as a revolutionary technology that is capable to improve business processes and the economy as a whole. Does that mean that the year of 2019 will become a turning point in the blockchain development?
Innovative solutions in the retail industry
A number of large companies have already applied cutting-edge technologies and shared their plans to continue putting blockchain solutions into practice. For example, a global tech-giant IBM has recently launched the IBM Food Trust blockchain platform to help retailers track the supplies of chicken, eggs, and tomatoes. According to the firm’s plans, this platform will cover all fresh products by 2020.
IBM Food Trust will allow retail chains to check the origin and safety of goods. The French retailer Carrefour has already joined the platform. The company will monitor products delivered to 12,000 stores in 33 countries. In addition, such retail corporations as Walmart, Nestle, and Unilever also expressed their intention to implement the IBM’s solution.
Blockchain-driven car manufacturing
One of the largest car manufacturers Daimler AG together with Landesbank Baden-Württemberg (LBBW) successfully finished the trial blockchain project in 2018. Several German banks — Esslingen-Nürtingen, Ludwigsburg, and Ostalb — also joined the project. Within the framework of this trial project, all the transactions were conducted using blockchain. Now, Daimler AG and LBBW intend to issue joint credits under smart contracts.
Aviation branch welcomes hi-tech
The Blockchain is steadily penetrating into the aviation industry. In December 2018, the American technology company Honeywell announced the launch of the blockchain platform to buy and sell aviation parts. The company believes that this solution will become an ideal tool to track the origin and movement of goods. By the way, Honeywell is not the only enterprise that employs innovations in this branch. The air carrier Swissport is implementing the blockchain solution to monitor air freights while Singapore Airlines creates blockchain wallets for loyal clients.
Internet companies turn to cryptos
The Internet companies keep pace with the traditional businesses. A range of large players started to work with digital money and blockchain in 2018. Thus, Yahoo integrated trading with Bitcoin, Ether, and Litecoin on its platform, Yahoo Finance. The company’s Japanese arm Yahoo Japan is going to open a cryptocurrency exchange in April 2019 or later. Microsoft purchased a famous web service GitHub to host and develop IT projects. The blockchain platform TRON bought BitTorrent service to integrate its protocol into it in order to increase the loading rate.
Countries are ready for blockchain
Blockchain can considerably improve business processes and markets. The technology has proved its usefulness in the field of data storage and processing, logistics, cybersecurity, finance, legal activities, and many others. A number of countries consider up-to-date technologies as an opportunity for economic growth and strive to facilitate their development. There are, for example, Georgia, Spain, Australia, Estonia, and others.
The Philippines are among those blockchain-friendly states. The Philippines’ Department of Science and Technology (DOST) is focused on the development of breakthrough technologies in the country and is currently studying them. To get expertise and advice in this field, the authorities have cooperated with the Noah Project, a recognized leader in blockchain in the Asian region. The company is applying the decentralized ledger technology at Dakak Beach Resort and has introduced several hi-tech payment solutions to the market.
A user-friendly and secure Noah Wallet is one of these solutions. This tool helps people store and use their Noah Coins and other cryptocurrencies, such as Bitcoin and Ether. Besides, the Noah specialists created Noah Pay, a blockchain application, whose aim is to make crypto payments more convenient and efficient.
Noah Pay allows customers to acquire goods and services just in one click by using a QR code. Moreover, this app also opens new opportunities for vendors, allowing them to accept and process crypto payments, as well as attract new clients from among crypto holders.
All these achievements moved the Noah Project closer to its primary goal, which is to build an ecosystem totally based on blockchain and its own cryptocurrency. This ecosystem consists of the future crypto hub Noah City and digital leisure and recreational facility Noah Resort. Users will be able to employ their Noah Coins across the system and get various bonuses for that. The provided payment solutions will help them smoothly manage their digital funds.
It seems the Philippines treats blockchain solutions seriously and is going to join such innovative countries as Switzerland or Malta. Who knows, maybe Noah City will become a new Zug.
What does await blockchain projects in the future?
Blockchain startups boomed in gold 2017 and survived in bearish 2018. Which will be the year of 2019? The market participants believe that strong and time-proved projects will rule the day this year. Those who performed well and made progress will continue reaching new milestones. At the same time, new much more professional and success-hungry ventures will appear and will compete with the existing ones.
