Blockchain technology has spread to a number of industries outside of the cryptocurrency in the decade that has passed since the creation of Bitcoin (BTC). The outstanding cryptocurrency technology appeared on the radar in the early years of cryptocurrency adoption, before projects like Ethereum began exploring the various network features of the blockchain.
Despite the fact that many startups tried to use blockchain technology to service new digital currencies, a number of large technology companies began to create blockchain systems for their own deployment. IBM and Microsoft are IT giants and have led to the development of many digital tools used around the world. Both companies continued to develop their own blockchain platforms, which were widely created to serve everything from small companies to global companies.
In fact, the dominant IT sector may be at the forefront of efforts to promote the assimilation and diffusion of blockchain technology across industries. But which industries really want to use blockchain technology to upgrade their systems and services, and are technologies needed in other areas?
Poll indicates high blockchain dependency
The latest global study of blockchains, conducted by the audit firm Deloitte, showed that more and more those who respond to the annual depth of the industry are actively developing blockchain projects. The study indicates an increase of 16% compared to last year, which is based on a survey of top managers and practitioners in 14 countries to find out if they have already implemented blockchain services or projects in their organizations.
An interesting meal is the ever-growing proportion of respondents who believe that blockchain technology will be an important part of their business and will be one of the main priorities in planning. The report provides a broad overview of current situations, as well as exploring the possibilities of using blockchain technology on a larger scale.
John Wu, head of AVA Labs, told the Cointelegraph that the Deloitte report confirms a growing body of research highlighting the growing dependence on blockchain and digital assets. Wu emphasized that more active technology exploration companies could benefit greatly in the coming years:
– Institutions and individuals should be better prepared to cope with financial risks, protect investments and even increase our assets in the event of the next crisis. The widespread use of blockchain technology is an important starting point for creating a new system that is strong enough to meet future challenges and will reward the creators who take over today. This dramatic and rapid evolution of the market structure towards decentralization quickly leaves the “if” and becomes the “when”.
The growing demand for blockchain services
Linux Hyperledger Fabric was launched in 2015 and has since been working with a number of leading technology companies such as IBM and Intel. With Hyperledger, developers can create various applications and blockchain networks that can be customized and scaled to meet specific needs and requirements.
Marta Pekerska-Giter, director of Hyperledger Ecosystem, seems to have repeated the results of the Deloitte report, explaining that there has been a steady increase in interest in blockchain systems. It seems that in recent years there has been a clear path from conceptual ideas to business projects, as Piekarska-Giter says: “There has been a sharp dependence curve, especially in the last two years.” “It took some time to strengthen use cases, but production systems now support important commercial transactions around the world,” she added.
Blockchain supporters have long appreciated the endless possibilities of technology and the ability to use the infrastructure to manage and solve various problems in various industries. Piekarska-Geater told the Cointelegraph that these feelings seem real and that a wide variety of blockchain applications underscore this recognition:
– Enterprises and institutions turn to the blockchain to track assets and products, stimulate and track transactions and create a trust group between parties that do not necessarily trust each other. The blockchain has proven useful for many use cases, including collaborating with industry and unions, tracking sources and managing digital identity in new ways that actually increase privacy and provide new models for digital financial transactions. ”
Mass chain programs make it difficult to identify a specific industry that is particularly interested in using technology. Hyperledger technologies appear to be used in a wide range of industries, from healthcare and manufacturing to retail and mining.