Blockchain is not something new to human civilization. In
fact, it has been around for more than a decade, how? Well, the Blockchain
technology was first introduced back in 2008 by the Satoshi Nakamoto. However,
there are many who still sees it as an emerging technology with all the good
reason. But do they really know what is hidden beneath the veil of Blockchain
technology? Well, we are writing the post to just disclose the opportunities
that are lying beneath the title of Blockchain technology.
What is Blockchain Technology?
The Blockchain is an open ledger that has the ability to
record and store transactions in a transparent way. On top of this, Blockchain
is decentralized in nature that means it is not controlled by any central
point, hence, eliminating the need for the intermediaries throughout the
transactions. The open ledger feature of Blockchain makes it an ideal solution
for financial institutes and government bodies who wants to store various types
of information exchange.
The role of Blockchain technology in the corporate world
In the recent survey done by Deloitte, 53% of survey takers
agreed upon the fact that Blockchain technology has become a priority for their
respective organizations. The survey also highlighted a total of 10 points of
increase in the adaption of technology than the previous year. More than 83% of
the people see the Blockchain technology as a leading technology. In addition,
the survey also highlighted how respondents consider Blockchain as one of the
top five technologies in the market. The most interesting fact about this data
is more than 23% of the organizations are initiating the deployment of the
Blockchain technology.
The relevancy of Blockchain technology
Aspirants who want to acquire ‘Blockchain Certification Training Courses’ have numerous questions
regarding Blockchain technology and relevancy to various industries is one of
them. If we speak truly, there are different industries that are or could
leverage the Blockchain technology to optimize the business outcome including:
- Government
Don’t you think that the government needs to build trust
among the citizens, increase accountability and improve security? No doubt yes,
the government needs to do all these things and encrypting ledgers does sound
like an ideal solution for all these tasks. For example, let’s talk about the
road repairs, with the Blockchain technology the repairs can be reported and
processed by the government employees. Once the road repair is done, all the
local parties will receive the notifications of the repair.
- Banking
Banks are using Blockchain technology to digitalize their
financial instruments. This enables more liquidity in the assets while cutting
down the cost and covering the investor on a large scale. Can you imagine
having your back checking authentication the account of your choice without any
extra fees or charges? Now you can relax as your money is working for you.
- Media
As the applications are limited media industry has come up
with ways to use blockchain technology to identify false news. The day is near
when you would be able to vote on an app authenticated by the Blockchain
technology.
- Healthcare and life science
Can you think that the entire medical history of an
individual authenticated on the Blockchain technology? This way one person can
have easy access to the information which can help him to understand which
piece of the information he must share with the doctor(s).
- Real estate
At first, it seems like there is no use of Blockchain
technology but it is not true. The Blockchain technology does serve a purpose
in the real estate. For instance; a person can invest in a small stake in the
real estate that grows over time and yields enough money to invest in their own
property. This how the industry can motivate people to take their first step
toward real estate.
- Supply chain
On the current basis, many supply chains have inefficient,
poorly managed or often exploitive paperwork which is the reason the process is
so expensive. However, it is the beauty of Blockchain technology that suppliers
can learn about all the properties of the containers. This helps to establish
transparency among the data as the supplier is well aware of all the steps of
the journey right from the beginning to the very end.
How to meet the growing demand for Blockchain professionals?
Yes, the Blockchain has the power to disrupt companies,
industries and the way we all interact with products and services. It is the
technology, enterprises are or willing to explore to find new opportunities and
create their own version of Blockchain. However, the industry is currently
facing a shortage of Blockchain developers despite the fact that it is one of
the fastest-growing job roles in the market. Therefore, it makes sense to
pursue the instructor-led online training at ProICT Training to prepare yourself with the knowledge and
skills to unlock the advantages and opportunities of the Blockchain world.
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