[ad_1]
The new year brings the time for reflection and projection. To this end, any number of analyzes is coming to the arena blockchain.
According to an article via the Review of MIT technology, this will be the year when the blockchain will become "boring", with innovative projects that "will bear fruit" this year even in the midst of the drops seen last year in the sector and in cryptocurrencies. This, said the Revision, it will be the way in which the blockchain becomes normal.
At least some cryptocurrencies are becoming national, which could stimulate the adoption of blockchain. For example, the Revision noted, Venezuela has introduced a crypt supported by oil production. The Revision he also noted that Walmart has tested blockchain in its food supply monitoring efforts. There are plans to also launch various exchanges of digital assets.
However, it is in smart contracts where a practical use of the blockchain can have a certain pair. The Revision he noted that a startup, Chainlink, worked with Cornell's academic researchers to develop what is advertised as a "blockchain" in a provable way ", which can be used in the construction of legal contracts.
The MIT projections came when Zion Market Research published its blockchain report, which saw the global production subset valued at $ 5 million in 2017, reaching $ 307 million by 2024 for a compound annual growth rate (CAGR) 76% in that period of time.
In the news of individual companies and the past coverage of cross-border trade and logistics, Cointelegraph noted on Wednesday (2 January) that Saudi Arabia completed a pilot program that linked its FASAH cross-border shopping platform with IBM and the Maersk's TradeLens platform. TradeLens, launched in August 2018, had about 100 entities related to this effort. This time, the customs authorities of Saudi Arabia stated that the goal was to facilitate trade and improve security.
As has been reported in recent months, initiatives to use the blockchain for shipping have been launched elsewhere, as there is a blockchain offer with AB InBev, and a & rsquo; European customs company has brought APL carriers on its platform.
Cointelegraph noted that the Saudi efforts are "in line with its neighbor", as the United Arab Emirates (UAE) have "stepped up" the activities that look to the blockchain at the state level. There, inter-bank blockchain tools are used with particular attention to Islamic finance, and the Saudi Arabian United Arab Emirates mate with interbank transactions digitally carried out through cryptocurrencies.
In the United States, Business Insider reported that Pfizer and Intel are working, in separate efforts, on supply chain visibility. The site found that 24,000 storage units (SKUs) and 200 contractors linked to Pfizer and the end-to-end transit visibility project (E2E ITV) seek to leverage technology to share monitoring efforts and verify products as they make their way through a global supply chain. At the end of last month, Intel debuted its Intel Connected Logistics Platform, which exists as an Internet of Things (IoT) solution that also allows interested parties to track shipments with data in near real-time.
"The use of blockchain technology in supply chain management is expected to increase rapidly in the next five years: this market is expected to grow to a [CAGR] by 49 percent, from $ 41 million in 2017 to $ 667 million in 2024, "reported Business Insider.
[ad_2]Source link
