Blockchain is changing. Less than a year ago, nobody trusted the technology – and everybody thought that it ould be a passing fad. Yet here it is, in mid-2019, becoming realistically implemented across global companies such as De Beers, IBM and Walmart.

And yes, Bitcoin has had some resurgence (and subsequent crashes) in 2019. The fate of cryptocurrency could go either way. The value of blockchain for business, however, is unquestionable.

Where the blockchain industry began

The technology’s popularity began with the creation of Bitcoin in 2008. After Bitcoin crashed in 2014, the industry became more “blockchain, not Bitcoin” focused, abandoning cryptocurrency for real business implementations. Even now, particularly following Davos 2019, executives and prominent figures still prioritise the ‘blockchain but not cryptocurrency’ philosophy.

It’s hard to deny that blockchain technology could revolutionize business – if implemented properly.

But, fundamentally, it’s not a “fix all” solution.

Blockchain is a tool through which business can excel. It helps to centralize, secure and distribute data. Yet it cannot succeed, or transform, on its own – and this is largely the source of disillusionment and disappointment among executives.

Blockchain won’t change your company on its own. It needs your help.

Where it’s going

The industry is changing, but what will it become?

Where is the industry headed? Will cryptocurrency will be abandoned entirely for blockchain in business and for security?

While we can’t know for sure, what we do know is this:

  • Blockchain and Bitcoin are no longer considered one and the same.
  • Reputable businesses are now adopting the technology as company leaders recognise the value.
  • Blockchain is becoming less of a source of business anxiety and is more widely accepted by executives.

Blockchain has the potential to become widespread, and no longer a source of confusion and fear from companies and consumers. Instead, it will represent the secure, transparent and permanent foundation of our future. But that starts here – with us.

Blockhead Technologies is implementing blockchain-enabled solutions across multiple industries. This means you have the choice of using blockchain or not, and the potential for future implementation. To find out more, click here.