"The value of cryptocurrencies like Bitcoin and Ethereum really lies in the level of confidentiality, authentication, and integrity they provide between sender and receiver. And banks are recognizing this potential, with roughly 15% of financial institutions worldwide expected to be using Blockchain technology in some form throughout the coming year. International currency transfers can also be drastically improved, moving processing from days or hours, to a few minutes with even greater reliability and security.
Other applications of blockchain technology include logging events and data pertaining to medical, food, or shipping records, allowing businesses to unlock a whole new level of traceability. After all, a Blockchain can only be added to, not changed or removed. Not to mention those manufacturers adding Blockchain technology between their ERP system and parts supplier, enabling IoT-connected machines to safely order replacement parts that arrive just in time for an engineer to install. In fact, this particular application might just be the safest possible method available today to minimize asset downtime."
"Blockchain will disrupt a number of industries in 2018 including financial services. The blockchain allows collaboration between several parties that may not know each other, or that are located in different geographical locations. It's like an account ledger that you insert information, similar to a database, he said, but once that information is in there, you can't easily change it. Blockchain allows a level of trust develop!
Specially, within the financial sector, blockchain technology has had a big impact on supply chain finance. Buyers and sellers need to have mechanisms they can know and trust to handle their financing and blockchain is being very actively piloted in that area
For companies looking to begin implementing blockchain, they must first become educated about the technology by talking with peers, customers, and vendors. Secondly, they can look at the open source community, and download credible, open source code, and begin to experiment with it."
"Blockchain technology has been growing at an unbelievable pace over the past two or so years. Through 2021, some see a 61.5% annual growth rate. As the revolutionary technology increases in popularity more blockchain-based companies are dreaming up the next big step for a variety of industries.
Certainly the impact that blockchain has had over in recent years has been nothing short of stellar. And, on the investment front billions of dollars have been poured into blockchain companies so far in 2017. Initial Coin Offerings (ICOs) or token sales have zoomed to around $2 billion (bn) this - versus $256m in 2016.
Several blockchain-based companies in particular are looking to revolutionize the way business is conducted through online marketplaces. These companies are creating decentralized platforms to foster peer-to-peer (P2P) interactions."