Blockchain trends
The year 2021 proved that blockchain is here to stay; it proved that it is no
longer j ust an experimental proj ect but a reliable technology here to stay.
Individuals and organizations in these times of the Covid-19 pandemic are
looking for alternative ways to make transactions and maintain their
businesses’ operations. An established technology blockchain has come to
their rescue. Practical solutions are offered to individuals, startups, and existing
businesses by this distributed ledger technology.
A new use case, almost every month, is derived from the technology, which
paves the way for newer trends.
The top blockchain technology trends which you will see emerging in the
coming years are as follows:
Permissioned blockchains to be on the rise
A unique solution for organizations that adopt it is offered by the blockchain,
allowing them to leverage this technology to create their use cases. Efficiency
and reliability are offered by permissioned/ private blockchain using a private
key that authorized nodes that can only be accessed by specific users.
Decentralized financial transactions are rising
Decentralized Financial Transactions (DeFi) is the way out for aspiring
investors in Covid-19 and post coronavirus times, providing millions of people
an opportunity to become investors. This involves investment in buying the
coins and lending them out for consideration of interest. Built with blockchain
technology, the transaction gets carried out on decentralized organizations
leading to a win– win situation for all as the lender earns interest, whereas the
borrower gets easy access to loans for the purpose of investment.
Supply chain operations are being optimized
A distributed ledger documents complex trades, the volume of the document
and data does not matter, and it can be recorded optimally digitally with
blockchains.
A perfect solution is to record and store large volumes of data with DLT, and
give easy access to every party involved in the supply chain transaction. The