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The Present & The Future of Blockchain Technology

author
Mike Davis
~ 3 min read
Blockchain technology

Thanks to the hype and booming values of bitcoin, Ethereum, and the like, blockchain – the technology underpinning these crypto-currencies – has quickly become a household word.

Every successful new technology undergoes an explosion of growth in which we try to utilize it for everything. Email, search, social networking—each went through its This will solve all our problems! the phase before we get to know its best uses & limitations. Blockchain technology is now taking its turn in this one-tech-fits-all role.

While it’s perhaps too soon to call on whether blockchain is a more significant revolution than the internet, it is clear that it can provide vital trust, accountability, and transparency in an age of growing digital partnerships and the looming threat of cybercrime.

How BlockChain Technology Change Different Fields in Near Future

Future of Blockchain Technology

Data Management:

Blockchain Technology uses identity ledgers in database management and data analytics to support various applications. Businesses and governments can use this to simplify records management, record business processes, and address security and compliance issues.

Digital Identity, Identification & Authentication:

With this use case, blockchain is not necessarily restricted to fund transactions. It is used for the storage of all types of data and transactions securely and openly. On top of that, creating an identity on the blockchain can give individuals greater control over who has their personal information and how they access it.

Internet of Things(IoT):

With the use of blockchain development Services, the registry can store the identities of physical items, initially consumer goods and collectibles embedded with BLE and NFC microchips. In doing, secure, interoperable digital identity can be established and new, proximity-based consumer engagement opportunities become possible.

Social Network:

So far, decentralized social networks are at a very early stage of development. Open source decentralized social network is a kind of social network that can ensure strong privacy standards because user data can’t be stored or controlled by any central agency or owning company.

Ride-Sharing Services:

One of the most important properties of blockchain technology – the elimination of the need for central authority or middlemen – could become a backbone for the real sharing economy.

The ride-sharing brands that consumers and drivers trust match supply and demand. Soon enough, blockchain can fundamentally transform the model with the next generation of companies taking over the niche.

Are you having a blockchain app idea? Want to successfully integrate the technology into your software? Let’s talk.

Our developers are well-versed with all the latest technology trends and are always up for new challenges. Bring us your idea & we will provide you with the best custom solution for your business.

Get a quote now

Blockchain technology is still a far-reaching mystery for many of us. However I’ve gotten a taste of what it means now and having struggled but triumphed over the initial understanding, I think maybe we are ready to dive into the more complex topics too. I would advise you all to not panic about this but start planning for this. In time, we will all start to see the true power of this new and potentially revolutionary technology.

Got a project on Blockchain? Then reach out to WebMob Technologies for consultation. We will enable you to explore and navigate the potential of Blockchain and pilot solutions customized to your business line.

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