The recent year has been an excellent platform for raising popularity around the distributed ledger technology, otherwise known as the blockchain. The global pandemic has given a prodigious boost to trends that were already in place. At present, enterprises are investing more in upright R&D projects for accomplishing blockchain initiatives with better efficiency and realism. With a global event like the recent pandemic, it is rational to wonder about blockchain’s future in 2021. Blockchain has been a crucial player in navigating the digital transformation required for accommodating the unanticipated surge in remote work settings. Since blockchain technology has been rightly recommended as the technology of the future, it is imperative to emphasise on blockchain future predictions.
With several industries going through tremendous makeovers in response to the changes in the business environment, numerous blockchain enthusiasts and onlookers are apprehensive about the prospects for blockchain. One of the leading trends that could control the future of blockchain is its integration in government agencies. In parallel, blockchain can penetrate people’s day-to-day lives, thereby characterising business knowledge in blockchain as an important soft force in international diplomacy. Besides, the usage of blockchain in voting systems will also continue to be one of the prominent trends in the future of blockchain.
Further, blockchain technology will ameliorate the Internet of Things (IoT) where apps must run anywhere by building trust, reducing risk, decreasing costs, and speeding up transactions. It is also expected that 20 percent of all IoT deployments will have at least basic levels of blockchain services enabled. Similarly, as Artificial Intelligence (AI) needs data to function, and the faster the AI can access bigger volumes of data, the better. With the help of blockchain, data can be authenticated more securely and faster, making it feasible for AI to access Big Data, thereby considerably improving the performance of the AI.
This year will also testament a massive growth in blockchain’s introduction in the retail sector for supply chain and inventory management capabilities. The next important prediction for the future of blockchain for the next year points out to the fact that around 30 per cent of blockchain projects worldwide will reach production stages. The attainable and pragmatic approaches to blockchain projects will be a principal driving factor for achieving this feat.
Enterprise Security Magazine’s editorial board has assessed and shortlisted a number of the foremost prominent organisations within the blockchain solution providers industry. We hope this issue of the Enterprise Security Magazine helps you build the partnership you and your firm need to foster a technologically-driven learning environment.
We present to you Enterprise Security Magazine’s “Top 10 Blockchain Solution Providers in Europe - 2021.”