Many people have already started to explore opportunities that Blockchain can bring to various sectors. Both government and private bodies have started to explore what this technology is all about. Though the exploration is happening for the past 10 years, it is getting more visibility in the last few years. That is one of the reason why we saw a great increase in the value of cryptocurrencies last year. In India cryptocurrencies are not accepted as a legal tender. But this situation is not permanent. I am starting to hear about various projects that are emerging out of blockchain.
One great advantage that blockchain can bring to the modern world is that people will start implementing it for their company's projects. Some of the top companies in the world have already started exploring the technology and the way decentralized information can be stored and utilised. Towards the end of 2017 I actually got to know about blockchain. When I initially started I did not know much about the technology as such but I was curious to invest on cryptocurrencies and earn some quick profit. That is how my journey started and later I got more curious to know what this technology is all about.
Today after one year of my journey in the steem platform, I am still able to see so many newbies emerging here. The roles of project in steem blockchain that is trying to bring more people to the chain. If we get more users for this platform we will be very lucky and I guess we can all call ourselves as early adopters. There are also interesting business opportunities emerging out of steem blockchain. I see steem monsters as one such budding project that will soon attract more users or more gamers to this platform.
Document maintenance and data management
This is one such area in which every country's government find challenges. I heard that even Indian government is working on adopting blockchain technology for document maintenance and data management. The only problem here is that, some of the information might be confidential so it cannot be decentralized or allowed for public view. But it will be still great if they can find a way to restrict who will have access to what data. When I say about digitalizing documentation, I would also like to say that smart contracts should also be considered as an option.
I'm expecting that towards the end of 2019, we will be able to see lots of projects coming out of blockchain technology. Some projects can even be government aided and some projects could be backed up by big companies like Google Microsoft or even IBM. Do we don't have any concrete information, I am just so curious I am calling out the names of these companies. I remember reading some news about IBM working on a project that involves blockchain technology. There are few banks who have made use of cryptocurrencies like XRP for their financial transfers.
I'm hoping to see more Blockchain projects n the year 2019 with great innovations. Some countries have also started exploring basic income for the citizens with the help of blockchain technology. I'm not sure how successful it will be but it is definitely a great initiative by some of the governments. I already have lots of friends asking me about blockchain technology and trying to learn what it is all about. I think the word is spreading and some of the great minds are trying to explore and bring innovations. If people are already talking about it I think the future for adoption of this technology is not that far.
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