Blockchain 2.0 - The Future is Distributed, and Secure

[jitenderseo1]

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

[purifymec]

It is really possible to establish the best trust between the seller and the buyer if the client can freely access information on the delivery of goods. But what do we have now? Almost the majority of stores (perhaps this is a problem in my country) will not indicate the date the goods were started to be used. For example, if we talk about cheese, only on the manufacturer’s packaging will there be a real date of its manufacture, but it will come to customers divided in portions and put a number with the date of packaging, rather than the creation of the product. This is misleading. In order for the blockchain to work, not only the store must see when the goods were manufactured and entered the warehouse, but so that the information is visible to the buyer. What many companies will not do, saying that this is confidential information

[DooMAD]

Sounds backwards to me.  What's going to happen is that all the viable blockchains (the ones where those securing the chain are adequately incentivised to do so) will thrive.  But all these other supposed applications, blockchain for toasters, or whatever, they're all going to die horribly because there's no incentive for users to secure them.

If it's just a singular business securing a particular blockchain, it's clearly not the picture of decentralisation you're trying to paint.  So many of these projects are going to fail.  At the time of writing, the only successful blockchains are the ones tied to a currency, providing an alignment of incentives, meaning it's ultimately more profitable to contribute honestly rather than dishonestly.