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Blockchain technology and adoption are about to explode. This is the prediction of the Technology Institute of the Massachusetts Institute of Technology (MIT), which expects the blockchain to become trivial this year. The Review sees 2019 bring a serious amount of technology adoption, while, at the same time, affirming that the blockchain will become "boring".
According to the magazine, "2017 saw blockchain technology as a revolution designed to break the existing global financial framework.In 2018, it turned out to be a disappointment.But in 2019, Blockchain technology will start to become trivial."
Although it could be trivial, blockchain and distributed register technology (DLT) are changing the face of economies, financial systems and various industries around the world. The Review points out that DLT has the potential to revolutionize health care, supply chain management, the entertainment industry and, perhaps most importantly, the banking sector.
A number of large companies in various industries have already started to adopt blockchain technology as part of their core business. In particular, Walmart has seen tremendous progress in the use of the blockchain for its supply chain management and expects the onboarding of more of its suppliers. The magazine explains, "Walmart has tested the profitability of the private blockchain system as a food supply tracker, says it will start using the system in 2019 and reportedly told its suppliers to join the initiative by September of this # 39; year. "
Walmart's raid into blockchain technology followed that of Carrefour, a supermarket chain based in France and stores across Europe. He started using blockchain as a means of ensuring better food quality and safety.
Overstock, the eCommerce buying and selling company, believes in blockchains with such determination that it intends to give up retail to focus exclusively on technology. Founder and CEO of the company, Patrick Byrne, said recently: "Blockchain's technological revolution offers more potential than anything I've ever seen in history, it will be bigger than the Internet revolution, in terms of how will restructure society ".
The auto industry is more than likely to be preparing to also embrace the blockchains. Many industry executives have said that blockchain technology can offer greater security and transparency, improving the supply chain and product quality.
