Blockchain in real life

Blockchain can close the trust gap with technology, but it needs to overcome its own reputational issues first.

17 November 2021

The internet ushered in a new era in the global exchange of information, making it far easier for everyone to transact and do business. The question became, how do we close the trust gap? The answer: blockchain.

Because of its immutability, blockchain holds the promise of verifying that no party to any transaction can misrepresent itself to the other. As such, the question of whether blockchain can disrupt our traditional financial system is no longer the one we should be asking. Now it’s a matter of to what extent – especially if we consider IDC predicts that by 2022, worldwide spending on blockchain solutions will reach $11.7 billion and the global blockchain technology market is estimated to generate $20 billion in revenue by 2024. Moreover, according to Gartner, blockchain only comes second to artificial intelligence and machine learning as the most disruptive technologies in recent times.

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