Blockchain: What to Expect in 2019 and Beyond

2018 has been a banner year for blockchain and the momentum isn’t showing any signs of slowing down in 2019. Blockchain is similar to a public Google document a public ledger that tracks all changes. These transactions are viewable by all network users, traceable, and secure. This means that businesses can track and trace transactions, which is especially crucial for industries such as supply chain management and shipping.

More blockchain success stories

Blockchain hasn’t yet been utilized by many companies or industries at the moment, which is expected since the technology is in its infancy stage; similar to the dawn of the internet. When the world wide web entered our homes in the 90s, we had no comprehension of the scope and life it would take and how it would develop into the internet we enjoy today. It took visionaries like Jeff Bezos to harness the internet and make it usable for us everyday people. The same is true for blockchain. Visionaries will continue to emerge with technology that’s more turnkey, which will allow everyday users to better use and understand blockchain. 2019 will likely see more success stories and user case studies that support the wider adoption of blockchain.

A shift in social networks

Data centralization on social platforms like Facebook is a global threat that is difficult to contain. The security breaches and accusations of selling data swirling around Facebook have resulted in an erosion of trust, topped off by the election tampering in the US and around the world. Users are looking for security, privacy and control of their own data – all made possible through blockchain technology.

For example, Civic Network ensures that once a user deletes their data, it’s deleted on all other networks as well. This eliminates the problem of a persons data falling into the wrong hands. Social Chains is a safe, global online economy platform, which uses blockchain to verify user identity. This verification enables a level of trust that has never existed before on social media. Blockchain has enabled these companies to offer a safer online social experience for its users. With strong advancements in blockchain taking place throughout 2018, 2019 will be a very exciting year for the emerging technology.

Learn how DigitalAMN’s portfolio company, Vezt, uses blockchain to disrupt music ownership

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