Open Source Software is garnering widespread recognition in the corporate world and you’re already using it!
What is an Open Source Tool 
The term open source tool refers to a program that performs a very specific task, in which the source code is openly published for use and/or modification from its original design, totally free of charge.
The principle of creating these open programmes was adopted during the Great Recession as businesses couldn’t afford the expensive suites on offer. However as soon as conditions began to ease companies determined that the open sourced tools were too effective to give up.
Open source tools are truly a viable alternative to popular-closed source applications as programmers can become more productive at almost no cost. Some open source tools can also offer features or performance benefits that surpass their commercial counterparts.
The creation of these tools is generally a collaborative effort amongst programmers with an end goal of improving the current code, sharing charges and meeting custom business requirements. Once completed the programmes are made available at no charge under a license defined by the Open Source Initiative.
What is the Value of Open Source Software?
Most open source software is available for free but that doesn’t mean that there isn’t money in the industry! In fact, there is currently a booming commercial side of open source development that brings excellent value.
You may be surprised to learn that 78% of companies run on open source principles and software. As for the benefits they reap, there are several including:
♣ Quality and value for end users is higher as developers are usually end users that know exactly what they want from an application or tool
♣ Development cost is significantly cheaper as the software is developed externally by a like-minded community
♣ Open source software tends to be incredibly flexible, with multiple iterations, variants and versions of a single project or software
♣ Security can be tighter and more reliable because bugs, problems, and vulnerabilities can be discovered and fixed by anyone, quickly
♣ Larger and close-knit community of developers consistently update references, resources and documentation
The Most Successful Open Source Software
Google Chrome
Google is probably the first big corporate to understand the true potential of Open Source. Google Chrome was the first among many applications released by Google as Open Source. It is now the fastest growing web browser out there and is nearing a 10% market share proving the program is not just effective but also extremely profitable.
MySQL
MySQL is probably the most popular Open Source database management application in the world. MySQL began as a low-end alternative to more powerful databases and gradually evolved to support more complex and higher-scale needs as well. To give context to the term "higher scale", MySQL is the tool that powers such websites like Wikipedia, Google and Facebook.
Android
Android is the newest addition to the open source triumph. Another Open Source product from Google, Android OS for mobile devices is storming through the market share of incumbents like iPhone's iOS and Nokia's Symbian OS.
According to Gartner, by 2012, Android would become the world's second most popular smartphone platform, behind Nokia's Symbian OS. A market dominated by Linux? Can you believe it!
Firefox
Firefox is the most "visible" Open Source success story. Firefox's big fight with Microsoft's Internet Explorer is widely discussed in mainstream media. IE is still the most popular web browser in the world, primarily because Windows holds a monopoly in Operating Systems market share.
Firefox 4.0 is the next major Firefox version waiting in the wings for its final descent. It showcases features such as Tab Candy, which is probably going to kick start another round of innovation in the web browser market.
The Most Anticipated Open Source Software of 2018 – Baanx.com
Baanx.com is the World's 1st Decentralised Blockchain Cryptobank with an Open Access, Open Source and Open Ownership platform - sharing bank licenses between Cryptobanks on the platform within a rules based environment – and allowing Open Source development of Financial Applications for all Cryptobank customers within the entire Cryptobank Network – a figure predicted to reach huge levels in the months and years to come!
Baanx.com is a Cryptobank with a difference, allowing qualified businesses, individuals, banks and charities to launch their Cryptobank to customers – fantastic for them – but also for all customers, who get crypto and fiat banking services combined together – they can use crypto in daily life to pay for things, but also have their fiat currencies in the same place – loans, savings and investments – all the normal bank functions are there too – but better and cheaper – automation and AI within the Baanx project is key and passing those savings on to customers in a decentralised, blockchain world is vital.
Baanx.com will deliver huge change to the market and disrupt traditional banking by scaling the size of the Cryptobank network to levels big enough to rival the established financial services sector - bringing accessibility and daily use of Cryptocurrencies to the world.
Baanx.com is the next open source software with the expectation to follow in the footsteps of global success stories like Google Chrome, Firefox and MySQL.
The digital revolution truly has arrived with the Cryptobank revolution!