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The term "Blockchain" appeared more often in Google searches. In fact, it has passed the term "cryptocurrency" in terms of search frequency in the second half of this year. Blockchain did it for the first time in July and, according to Google, has been a more popular search term since September.
There is no way to know exactly how many times these terms were searched because Google provides the data in a relative format. Regardless of the overall numbers, it is clear that the public is starting to wake up with the blockchain.
For the moment, there are some blockchain applications to which the public can directly access. Investors also have limited options, since most blockchain startups are private and rather risky to start. Most of the action in blockchain applications ready for the market is occurring at higher levels, with large companies that can guarantee the trust of their counterparts. Some smaller players are also getting attention, but they face an uphill battle when it comes to credibility.
Blockchain is here to stay
Outside the circles of development, there is still a lot of mystery surrounding the blockchain. Most people associate it with cryptocurrencies, for obvious reasons. Indeed, the blockchain is reaching areas that seemed unthinkable a few years ago and making complex systems much easier to manage.
There have been numerous research blockchain programs undertaken by large companies, but until recently, few real cases of usage scenarios have emerged. This is changing now, and the agreement that Walmart has struck with IBM is a perfect example of how the corporate world is changing gear on blockchain.
Much of Walmart's activity is the distribution of food. Record keeping in the food industry is complex and complex, which puts Walmart in a difficult position. If there is a problem with food contamination, it may take days for Walmart to trace where the contaminated food comes from and which stores still have it on their shelves.
A huge improvement
Blockchain is perfectly suited to this type of complex supply chains. IBM used the blockchain to create its own IBM Food Trust, which reduces tracking times in the food supply chain for up to a few seconds. This system not only offers a much higher level of efficiency, but it could also easily save lives in the near future.
Bridget van Kralingen is Senior VP of IBM for Global Industries, Platforms and Blockchain. She explained that, "We created the IBM Food Trust solution using the IBM Blockchain Platform, a tool or capability that IBM has created to help companies build, manage and manage blockchain networks, and is built using Hyperledger Fabric and runs on IBM Cloud."
Supply chains are a bit different, but a platform like IBM Food Trust IBM could be the future of monitoring in many different industries. For now, the product will be traced manually as it is moved, but the Internet of emerging IoT objects may change this as well.
Blockchain is creating trust
The popularity of the blockchain's popularity has been global in scope. The tsunami of hatred that hit the blockchain in 2017 has given way to multibillion dollar investment programs in China and to the blockchain patents of most major Western banks.
As it is today, blockchain platforms have already been used in numerous areas for pilot programs. Russian airlines are using it for their fuel purchases, and many utilities are working with blockchain platforms to usher in a new era of small-scale solar energy trading.
As multiple platforms such as IBM Food Trust enter commercial use, pressure on other sectors to adopt blockchain technology will likely increase. When blockchain shows that it can eliminate wasted time and create better records, it is likely that other uses will grow from its first successes.
