How Blockchain Technology Gaining Trust In Enterprise?

It has become an obvious question, “How Blockchain technology is changing our world?” Several business leaders and investors have already begun understanding the need to adopt this powerfully transformative new technology.

Many are busy in blockchain market analysis, we read the news, updates, and interviews daily on this revolutionary technology, yet we lack to understand the blockchain market size.

However, there is one book “The Trust Technology — How blockchain is changing your world” that gives you a current understanding of blockchain development, blockchain platform and how it is transforming the economy, business, societies, and government.

If you are catching up on blockchain technology applications for business or investment, the book by Mark Mueller-Eberstein and Phil Klein is a must read.

It offers details on how to move forward with the latest advances in the marketplace and making blockchain a feasible option for audiences.

Security, Trust, and Blockchain

According to Bruce Schneier, a fellow, and lecturer in the Harvard Kennedy School tells that in order to succeed blockchain at the market place, they must be trusted.

A book from Kevin Werbach “Blockchain and The New Architecture of Trust,” the author outlines P2P (peer-to-peer) trust and institutional trust. The book also raises a fundamental question of whether to follow a human legal system or computer code?

Building the trust economy with blockchain is possible if blockchain application development companies are able to make its full use in their every product. Also, if blockchain and the democratization of trust are done, then blockchain companies can market this new vibrant tech quickly.

Investors Focused On Smart Block Chain Investments

Real-world examples and future use of cases show the use of blockchain and how blockchain technology companies are putting it to work. From marketing to retails, logistics to financial and government applications, there exists a wide range of cases where the new blockchain based solutions are in use.

For small scale people in business, large-scale industries and investors, blockchain development is gaining trust in the enterprise market, financial services, along with adoption in technology, life sciences, telecommunications, media, and government.

Read Also: Healthcare Technology Trends To Watch Out

Blockchain Technology: Case Study

• 40% of enterprises will invest $5M or more in the new blockchain development initiatives in the next 12 months.

• 86% of interviewed senior executives believe that blockchain technology is highly scalable and will achieve mainstream adoption in less than 5 years.

• 53% believes that blockchain is now a critical priority for the organizations as it is 10% higher than the last year.

• 83% of people said that enterprises are seeing compelling uses for blockchain.

• 43% still see blockchain as an overhyped tech.

• Financial services and technology sectors are currently leading in the blockchain development and many blockchain app development companies have entered into healthcare, real estate, and educational industries.

• Enterprises are looking keenly for valuable cases for blockchain technology completely independent of cryptocurrency, but digitizing physical assets like creating virtual contracts and finance management via wallets.

Although the blockchain technology is in the early stage of development, launch, and testing, a business in blockchain development company will be fruitful once everyone starts trusting it in coming years.