When the blockchain concept started years back, without a shade of doubt a considerable amount of people was probably skeptical about how far it would go. Seeing where blockchain is now, and how it has swiftly and steadily taken a firm stand in the market world, it is safe to say that the only way forward is up.
You may wonder, what exactly is blockchain? We assure you that it is not at all an unfamiliar concept as in one way or the other, the majority of the world population have found themselves partakers of its implementations. BitFortune reveals just how popular the technology has already become across numerous industries. However, breaking it down to simple terms, blockchain is a system that enables decentralized transactions across p2p networks. Simply put, it is one of the next ‘huge things’.
Blockchain is currently where IT was over two decades ago and seeing what has become of the latter, it is only understandable that experts have such high hopes for the former. Blockchain is powerfully taking over the stock market, with recorded estimated value of $20B in 2014.
The merits of blockchain are limitless. From enhancing business performance by reducing costs and efficient maximization of time, to fraud reduction, security, transparency, assured privacy, impeccable record keeping and decentralization.
It is no wonder that about 16 industries are actively getting involved in the system, eagerly developing the technology daily. Even better is the fact that there are numerous benefits and implementations for each industry and smaller businesses are also starting to take part in this new movement.
The industries cut across a wide range, from the banking sector, to cyber security, networking, insurance, cloud technology, charity, health, energy, government, real estate and several others. Obviously, no one wants to be left behind. Perhaps this is one of the few cases where joining the band wagon could turn out to be a really good thing.