As we mentioned in our Blockchain blog series, that Blockchain can become a fundamental technology to change all the redundant database systems and even our recently introduced tech businesses. We have talked about everything from what is blockchain, why blockchain and where should we use blockchain. But, when we think about using blockchain in reality in the current scenario, things become a bit different. Let’s look at the concludes for the Blockchain technology in this blog.
As mentioned in our Blockchain blog series, blockchain alone cannot make a huge difference every time. We might need to integrate it with other technologies as well. For example, in the influencer marketing industry, blockchain-based smart contracts alone would not make a huge difference unless we integrate Artificial intelligence or big data with it.
Similarly, for Fintech industry products, using blockchain alone would not make a huge difference alone. By introducing automation and minimizing the human touchpoints would help to make the system more efficient and better. Also, when we talk about the participation of all the stack-holders in the application, cloud computing, DevOps, IoT and many more technologies would interconnect to give the users the best experience.
Above all, the UN’s world hunger program, IBM blockchain (for supply chain), Facebook’s Calibra and infamous Bitcoin are some of the real-world use cases of Blockchain. Many other startups are also trying their hands on the Blockchain technology by adopting in their small or medium scale projects to test the calibre. But, due to complexity in implementation and the time taken by the system users to adopt the new Blockchain-based system is high.
Thus, we can conclude that Blockchain is making its own sweet way to come in the market and in the products and services we are using. There is still a lot of scope of implementation of blockchain in the old database and upcoming products to delete the boundaries we have with our current tech infrastructure. There are many proof of concepts are in making to check the ability of Blockchain in the real world scenario. If you are interested to explore the Blockchain Development, let’s connect now!