Blockchain’s growth cannot be understated. But, are we currently in the golden age of blockchain, or is the best yet to come? Take a speculative look at what the golden future of the blockchain industry holds and what industries it will change.

Since the turn of the century, an entirely new phenomenon has arrived to improve the lives of consumers and businesses alike. Still, in its infancy, blockchain technology is developing at seemingly breakneck speeds to solve many of the as yet unresolved problems in modern business. As an early sign of what’s to come – and also to whet the appetites of consumers globally – cryptocurrencies have emerged to deliver a kaleidoscope of benefits to users.

Faster payments, better accounting, secure storage, precise shipping – you name it and blockchain technology can deliver it.

The ongoing developments of the blockchain industry are delivering a variety of solutions, but still, many problems remain unsolved. One of the major challenges has been translating the blockchain prowess from the highly technical into the understanding for the layman. In other words, how to make such poignant technology usable, functional and popular amongst hordes of people, rather than just for a few niche businesses.

Author

Dr. Demetrios Zamboglou is a member of the Financial Commission Dispute Resolution Committee.