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About ten years ago, the world experienced a financial crisis and during this period, Bitcoin was created and slowly but surely the first cryptocurrency gained much traction while the main viability of cryptocurrency is still speculative, blockchain has emerged as one of the main technologies in the world that has many expectations connected to it.
It seems that people are daily implementing cryptographic applications with blockchain that continues to grow even in popularity. Looking back at last year, there are some key moments when the blockchain has correctly shown its colors and what should change for organizations.
Applications of the real world
There are some real-world cases and proofs of concepts that emerge in different sectors. For example, as reported by Daily Hodl, "Blockchain helps prevent perjury in supply chain management by allowing you to keep transaction records in the form of an immutable ledger, leveraging its various benefits, an Australian transport insurance company and truck National Transport Insurance (NTI) launched a pilot program to implement blockchain technology for end-to-end monitoring of Australian beef exports. "
In addition to that, there has been an increase in traction for healthcare space in terms of adoption of blockchain. This now gives him the ability to create records of treatments for patients and provides doctors with relevant information by bringing all data online in a safer way.
Blockchain allows secure transactions and with its huge amount of benefits, it is safe to say that it will be instrumental in trade, policy management, fraud detection and much more in the future.
Traditional firms
Throughout 2018, we have seen more and more companies using the new blockchain or imminent technology being integrated. Companies are now building the skills needed to push the blockchain into mainstream adoption. Several sectors are seeing greater adoption of blockchain in the banking and financial services space, insurance, supply chain management, e-commerce, games, health care and so on.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has launched a GPI Global Payment Initiative pilot service to join the growing blockchain and fintech services.
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