Blockchain has increasingly become a technology you hear about, but you may not completely understand how it works. It’s often painted as a controversial technology because the corrupt behaviors of people managing cryptocurrency exchanges have put a negative sheen on the technology. The technology, however, has a wide range of applications across various industries due to its decentralized, secure, and transparent nature. Let’s take a look at a couple of the uses for blockchain.
Cryptoassets have been on the rise, and with it has come the term “NFT.” But what is an NFT, and why does it matter what it is for a small business like yourself? Let’s examine this concept in a bit greater detail through the use of a hypothetical situation.
For the past decade or so, one of the most mentioned emerging technologies is blockchain. It was hailed as the technology that would change everything, but as far as the practical uses that would facilitate that change, blockchain hasn’t seemed to have done much. Today, we thought we would take a closer look at blockchain and why it hasn’t become the world-altering technology a lot of people were expecting.
Blockchain was all the rage for five years. You couldn’t talk about technology without someone bringing it up. At that point, it was listed as the remedy for all the world’s problems. Five years later, it’s not being mentioned quite as much, but it has been used to create some very useful products. Let’s take a look at what is going on with blockchain technology in 2020.
It seemed that, not so long ago, everything was going to be associated in some way to blockchain and blockchain technology. All online transactions and data were going to use the blockchain for security. However, as 2020 has provided some very effective distractions from the thought of blockchain, it seems to have slipped from the public consciousness. Let’s look at how blockchain is still being used today to drive innovation as a quick reminder.