Enterprise technologies have primarily aimed at making business processes and transactions more reliable and faster. But up until now, no technology has changed the very nature of enterprise computing ever since the mainframe era, as blockchain promises to do. The potential is immense, and the world is just beginning to wake up to enterprise blockchain computing.

For almost everyone in touch with the modern world, the word blockchain conjures images of overnight wealth, rags to riches and billionaire hacker geniuses in stylish hoodies. If that rung a bell, it’s also because most of us equate blockchain with the world’s first and most popular cryptocurrency, bitcoin. Agreed that bitcoin was one of the earliest implementations of blockchain and innumerable cryptocurrencies that followed have since crowded the internet by no small measure, the attention on the underlying technology is largely lacking. Yes, blockchain has the potential to change the world, and yes, it will change the way businesses transact for a long, long time to come. Here’s a look at the how behind the what:

Blockchain Architecture
The term means almost exactly what it says; secure, encrypted blocks of data stored in a private, peer to peer chain (network, where each block contains data of its predecessor). This sounds simple enough, except that the level of sophistication of each of those components is extremely high. For example, in a blockchain driven environment, there is no central database. It is broken up, scrambled, and the data stored in it is indelible, with a timestamp record. Most often called a decentralized public ledger, it distributes its records among several computer nodes, and also shares it’s computing resources among them. READ MORE

The era of the (n) coin, much like the Dutch tulip mania, has gone into hibernation. Predictably so. Bubbles burst when they stretch beyond their holding power. For those who didn’t throw out the proverbial baby with the bathwater, however, opportunities of leveraging distributed ledger technology is still the promised land. And enterprises across the world are now gearing up for the era of Blockchain 2.0, a landscape beyond the heady gambling of decentralized currency of 2015-2018.

Blockchain applications and platforms have reached a certain degree of maturity in their life cycle, and if industry implementations are anything to go by, this will continue to hold. Touted as the democratization of the Internet, the new era of Blockchain 2.0 will not be a geek haven, but a pragmatic approach to solving real-world business and governance issues. Smarter, faster and more secure, the promise of the new era of blockchain will be more than 80% about business and 20% about technology. The erstwhile security concerns have already been resolved by the likes of Hyperledger and Sawtooth, paving the way for secure, programmable transactions in industries like finance, infrastructure, oil and gas and even education. Here’s a look at how blockchain will change the way business is done, this time outside of autonomous currencies.

Microtransactions

Security is the key here. Blockchain 2.0 will facilitate automated and programmable microtransactions which will be decentralized. With the increasing likelihood of autonomous vehicles, drones and AI, we see entire supply chains and distribution channels transacting with each other without human intervention. This is probably the simplest use case from among what lies in store. Programmatic transaction processing for businesses of all types will be driven largely by autonomous execution with advanced safety. Blockchain 2.0 for you.

Digital Assets

Tracking assets, information, and goods in the era of Industry 4.0 and IIOT will be powered largely by Blockchain 2.0. The earlier avatar of blockchain solved DRM issues to a certain degree but was ailed by cyber-attacks and security issues. Several platforms like... READ MORE

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“Providing data onto a secure blockchain paired with AI can become a tool to help humanity,” says Siraj Raval, the creator of School AI YouTube.
People rarely remember cassette players today.

Anemerging technology generally swaps the existing one in today’s cutthroat world. As people use the new technology, the older one becomes least remembered or used.

Yet, some technologies cannot get replaced or removed but balanced together. The breakthrough technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), Big data, Social media, and  blockchain technology are interdependent on one another. Though the far-reaching implications are not known, they seem to be more promising. Read More

Blockchain technology as we know has reflected and changed the way businesses functions. As a matter of fact, blockchain is considered as one of the hottest skill in the IT job market. No doubt why this technology turns out to be the next uncharted and highly talked about technology in the current job market. Yet, there are still growing number of disruptors at every sector that are still challenging the traditional business models with the usage of this so called ‘disruptive technology’.

The impact of blockchain is massive. Being in its nascent stage, this technology has created quite a buzz in the IT market currently. It is also considered to be the most innovative technology in this upcoming revolution and has shown some tremendous changes in most industries. It has not only transformed the just the financial or banking sector but have made its presence known in sectors such as e-commerce, logistics, legal, real estate, startups, and even the manufacturing sector. E-commerce platforms such as Amazon and eBay have transformed the ease of online shopping. However, issues related to payments, data security, supply chain management and security still prevails, and the current business models are yet to find ways to resolve these issues.

Blockchain technology as we know has reflected and changed the way businesses functions. As a matter of fact, blockchain is considered as one of the hottest skill in the IT job market. No doubt why this technology turns out to be the next uncharted and highly talked about technology in the current job market. Yet, there are still growing number of disruptors at every sector that are still challenging the traditional business models with the usage of this so called ‘disruptive technology’.

The Hype

Hey, move over Bitcoin, it’s Blockchain here -- the underlying technology behind the mystery that made Bitcoin seemingly famous is now grabbing the headlines and the buzz in the IT market. Stakeholders and supporters have been talking about how blockchain technology is demystifying the power of distributed ledger technologies for quite some time now. As a matter of fact, most industry leaders said that distributed ledger technology might be the one of the most significant technologies that will disrupt and impact businesses.

Due to the hype and demand for blockchain skills, professionals such as blockchain engineer and blockchain specialist have become the sought-after job roles in the tech market. Irrespective of the demand, the market still lacks expert professionals in this field. Having said, many people might be sacked off their jobs and to procure better job opportunities they might just need to reskill themselves by upgrading their skillset through blockchain certification. Blockchain is still on the top priority list of all executives and technical specialties. Despite the critics about blockchain, the evolution that took place within the past years has been astounding.

Scope and Demand

The scope and demand of blockchain technology is great worldwide.

The Blockchain market is predicted to grow beyond 81% over the forecasted period between 2017 and 2025. To be precise, by 2025, the global blockchain market is anticipated to reach USD 51045.4 million.

The finance sector is said to lead the blockchain application. Unlike other businesses, banking and finance sectors will not need introduce the radical transformation into their processes to adopt blockchain technology. To be precise, since the success for cryptocurrency was seen, financial sectors are now looking forward in considering to adopt this technology into their development.

On the other hand, the distributed ledger technology gained quite a buzz in the government sector which persuades the government authorities and agency to have their separate database. Gartner prediction states that there will be around more than a billion people who will have some or the other data of them stored in blockchain by 2022 that they might not be aware of.

In Conclusion

It is still a fact that the DLT has shown significant potential in transforming various sectors, now there are more organizations that are willing to adopt this technology and are finding ways of how they will be able to implement it in their own businesses. Nonetheless, blockchain is not yet a panacea. Although there are certain transactions that might have a positive impact due to decentralization, it is still likely that the others will require handling through intermediary and central database.

You might have heard about blockchain a lot. This powerful technology is redefining the way we transact online, share ideas, and manage workflows. It is on the verge of disrupting various sectors including healthcare, entertainment, voting, supply chain, etc. With its arrival in every industry, it will change the way how businesses work. It promises a lot of breakthroughs in the future and we cannot do away with this fact.

It holds a lot of potentialities to make our lives easier. Things that it will contribute to include- sending money abroad will be quicker, buying a house will be easier and faster, it will be easier to treat health problems, you will be able to differentiate between the fake and real product, you will be able to earn profits. With so much to offer, let’s first understand what blockchain is!

What Blockchain exactly is?

A block stores all the data that is further connected with other blocks in the network forming a chain of blocks. The data is shared across the network among all peers. This is the reason why blockchain is known as a distributed ledger. The blockchain technology holds so many advantages that make it better than the traditional methods.

Let’s take an example

What do you do when you have to transfer money to your friend’s account? You go to the bank and ask them to transfer the money to the account address of your friend. What if the data maintained by the bank gets tampered? Yes, the transactions done in the banks can be easily altered. Here arises the need for Blockchain!

Here are a few of its benefits-

No intermediaries involved

There is no authority involved. All the participants talk to each other and data exchange is made directly.

Distributed

Tampering in the blockchain is impossible because it is spread across the whole network. There can be no alteration without consensus.

Cryptographically secured

This is the reason why ledger cannot tamper. Cryptography makes it secured.

Add-Only

Once data is added to the blockchain, it is impossible to change it. It is immutable.

Consensus

Any change in the ledger can only be made when it reaches a consensus among all participants. No central authority is involved.

How does this technology work?

●   The transaction is started by a majority of nodes after they verify the history of the individual blockchain block. If a majority of the nodes come to agree that the history and signature are valid, the new block of transactions is accepted into the ledger and a new block is added to the chain of transactions. If a majority does not allow the addition or modification of the ledger entry, it is denied and not added to the chain.

●   After the validation, the transaction is included in a block which is further multiplied onto the network. At this point, the transactions get confirmed.

●   The ledger makes way for the new block which is then cryptographically secured. After getting secured by a hash, the transaction gets confirmed again.

●   Every time a new block is added, the transactions have to undergo this confirmation process.

With the advent of blockchain technology, blockchain professionals should rejoice. The reason for this is the growing demand for blockchain professionals. Today, blockchain professionals are have acquired a lot of popularity as the jobs in this technology are the most in demand. Industries are looking for certified blockchain professionals who can make the right use of technology and are acquired with all the necessary skill sets needed to integrate the technology. Certifications make the professionals land their dream jobs and help them earn high salary packages in top companies. Time to make your career in the growing field!

Blockchain could reshape the world! In recent times, blockchain emerged to be one of the most hyped technologies in the industry. Stakeholders, businesses, and startups are looking for means to instil this disrupted technology for better business outcomes.

Besides these services blockchain has gained a lot of traction in other industries such as transportation, insurance, the food industry, accounting, wireless telecommunication, media, and legal services. These are certain areas that the blockchain technology companies may captivate in the near future. Today, staying abreast in the disrupted technology is one way to cope up with the IT trends.

Blockchain technology is used as an online record keeping ledger of verified, encrypted amount of data that can be stored in the form of chains. These block of chains is immutable and cannot be altered by anyone outside the network. The property of secured and unique feature attracts organizations to get involved in the technology making it crucial for industries to adopt it for their product development.

Blockchain could reshape the world! In recent times, blockchain emerged to be one of the most hyped technologies in the industry. Stakeholders, businesses, and startups are looking for means to instil this disrupted technology for better business outcomes.

Though in its nascent stage, this technology is on a verge to grow and not cease. However, research is an ongoing process and will continue to take place to see where this technology pans out.

The blockchain revolution has grown to heights that even people who aren’t aware of the technology are talking about it and trying to learn how the technology works. But why is it exploding? Have you wondered about the situation? You might not know the extent of what this technology can do. But we can start off by defining what the technology is and how it works.

Blockchain technology is used as an online record keeping ledger of verified, encrypted amount of data that can be stored in the form of chains. These block of chains is immutable and cannot be altered by anyone outside the network. The property of secured and unique feature attracts organizations to get involved in the technology making it crucial for industries to adopt it for their product development.

For instance, if a transaction takes place, the request transaction is broadcasted to a network (P2P) that exist of many computers called nodes. The node acts as a validator of the transaction that has taken place, this process is done with the help of known algorithms. Once this gets completed, this transaction in combination with other transaction forms a block. This block then gets added to the series of chain that is already in existence, the moment it gets added to the chain it remains unalterable meaning the data cannot be tampered or changed.

Disruptive technology taking over the world - blockchain specialist to stay future ready for the disruption

“40 years from now, Blockchain and all that followed from it will figure more prominently in that story than Bitcoin will," says Lawrence Henry Summers, former US Secretary of the Treasury.

The blockchain revolution is proving a game changer in the industry today. From financial sectors to non-profit organizations, several organizations are putting their bets on this distributed ledger to facilitate business outcomes.

It is believed that this technology will impact businesses in every manner opening up business opportunities to investors, not just in the altcoins but even in industries the digital ledger has the potential to alter. 

As a result, let us look at the following industries where blockchain revolution has taken over:

●   The Finance Services

The disrupted ledger technology has disrupted several aspects in this industry including hedge funds, vetting of investors, peer-to-peer lending, emerging markets, and venture capital.

●   The Security Services

It has protected internal and external threats of both natures including digital and non-digital.

●   Government Services

Implementation of blockchain in several government functions has increased transparency, increase engagement, improved inefficiency and reduce costs.

●   Banking

It is estimated that there are 2.2 billion unbanked people in the world. Blockchain is said to provide banks that will have a comprehensive customer profile.

●   The Education Sector

One can find an immutable record of credentialing and course completion.

●   Healthcare

Customers will now be able to control data sharing with providers or hospitals to have a brief view of the health of the patient. Pharmaceuticals will have improved access to research data for clinical trials.

●   Real Estate

Flexible sharing economy and the fractional economy will now be possible.

Besides these services blockchain has gained a lot of traction in other industries such as transportation, insurance, the food industry, accounting, wireless telecommunication, media, and legal services. These are certain areas that the blockchain technology companies may captivate in the near future. Today, staying abreast in the disrupted technology is one way to cope up with the IT trends.

Won’t it be great to have a world with institutional transparency in government and businesses?