If there’s one thing that 2018 has taught us, it’s that we’re dealing with some serious security issues in nearly all sectors of every industry. We’re coping with leaks and hacks alike, and now if the question is, ‘Is blockchain the way forward?’ Then the answer would be YES.
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Blockchain has undoubtedly emerged as one of the most disruptive technology with its potential to eliminate the intermediaries such as banks, government agencies, and companies like eBay, Airbnb, and Uber.
According to a research conducted by Gartner, there would be more than a billion people who will have some of the other data about them stored on a blockchain till 2022 but won’t be aware of it.
Here’s how you get started with blockchain;
Getting into blockchain and implementing it is made easy by two technology giants; Microsoft and IBM. They’ve eased out your aim of using blockchain for business purposes, which is also referred to as ‘blockchain-as-a-service’.
Microsoft has embedded this disruptive ledger technology into Azure. They’ve based it on Ethereum and further is bi-furcated into five simple steps. They’ve also put it up for learning purposes in their ‘labs’ profile, which ultimately would help developers and testers around the world to swiftly create Azure environment on the blockchain. All this can be done in a controlled cost and minimized waste.
IBM’s solution for adopting blockchain for your business is quite sophisticated and polished. Along with allowing you to create a blockchain model example on the go, just like Microsoft, IBM’s solution offers an advantage of satellite features. Its platform generates a perfect environment for developers combined with contracts, chain codes, and interoperates in accordance with the Linux Foundation’s Hyperledger Composer. IBM’s blockchain solution is a perfect solution for developing blockchain applications and spinning up the entire network.
How’s Blockchain Useful?
For instance, take the food industry into account, there are numerous issues that impact food safety. Some of them being, food-borne illness, contamination, or waste which are caused mostly due to lack of traceability and access to information. It may take weeks or even months to identify the exact point of contamination. But, with blockchain, this won’t be the case.
Blockchain is well-suited to deal with these challenges, as it creates a trusted means of shared information. In above example, blockchain can help develop a proper food supply chain software/application for all participants including suppliers, farmers, retailers, distributors, and even consumers to gain the access to accurate information about the chain from origin to the retailer.