Blockchain for 2018 and Beyond: A (growing) list of blockchain use cases
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Thank you for continuing to trust us with everything FinTech! When I was first doing research on the non-financial use cases of blockchain technology with particular examples to continue our diligent following on how it can be applied in FinServ and blockchain payments use cases21 seemed like a big deal. In other words, where does an exploration of a technological capability stop making business sense, and starts being a research for the sake of research?
Almost every single one of the pages of the report will be worth your time, but I would like to emphasize the distillation offered at the end of the study, where authors list the following use cases of blockchain technology:.
Increased liquidity in inefficient markets with low volumes through the use of smart contracts Internet blockchain payments use cases Things. Download the full report. On a serious note, while the report is definitely a must-read and I wanted to share it with our audience, this list is not the main reason — it is the scale of efforts and hype that concerns.
In a rally to apply blockchain technology everywhere imaginable and unimaginable, we may forget to ask if every theoretical use case for the technology has a sustainable future in our society, and makes business sense. Although we share the enthusiasm for its potential, we worry about the hype.
It would be a mistake to rush headlong into blockchain innovation blockchain payments use cases understanding how it is likely to take hold. True blockchain-led transformation of business blockchain payments use cases government, we believe, is still many years away.
Blockchain is a foundational technology: It has the potential to create new foundations for our economic and social systems. But while the impact will be enormous, it will take decades for blockchain to seep into our economic and social infrastructure. The process of adoption will be gradual and steady, not sudden, blockchain payments use cases waves of technological and institutional change gain momentum.
There is no argument on the importance of exploration of opportunities that blockchain technology opens to businesses — in a variety of cases, the technology indeed will breed a new generation of businesses operating with an unprecedented efficiency to create value. Transformative scenarios will take off last, but they will also deliver enormous value. Two areas where they could have a profound impact: Transformative applications will also give rise to new platform-level players that will coordinate blockchain payments use cases govern the new ecosystems.
These will be the Googles and Facebooks of the next generation. It will require patience to realize such opportunities. Though it may be premature to start making significant investments in them now, developing the required foundations for them—tools and standards—is still worthwhile.
The piece by Iansiti and Lakhani is brilliant. An important takeaway from both publications is that every generation of fundamental transformation comes slowly — it requires a massive adoption blockchain payments use cases cross-operability of the underlying infrastructure.
The very foundations of our economy have changed. No use case is of use if the infrastructure is not ready.
