Читать книгу Blockchain for Business - Группа авторов - Страница 79

In this chapter we discuss about the blockchain as a game changer, technology in both environment and business ecosystems. No doubt, this technology is better in every field for providing the transparency, saving energy usage and is far better as compared to the traditional models. But whenever some technology comes in the market it brings some challenges along with it. The technical issue that blockchain technology address is limited with is scalability because of foreordain in terms of the size of blocks and energy used by the crypto currencies. Though blockchain technology is decentralized, distributed and based on cryptographic techniques, it is not totally exempted from security issues as rising of cloud computing and quantum computing combined with the physical, digital and biological areas with the increase in speed and intelligence can prove dangerous to the blockchain ecosystem.

The challenges can’t be avoided—they also concur with the 4th industrial revolution i.e., AI, IoT, where an autonomous vehicle is able to generate opportunities for global development and creation of value. These technologies also have the power to speed up the environment’s degradation.

No doubt that these challenges need attention as the technology is upgrading day-by-day. Soon there will 6G technology, though China has already launched 6G phones, Japan announce the startup of 7G technology. As the advancement of revolutions is at its peak, blockchain developers have to cope-up with these technologies. Nevertheless, the opportunity window not be open forever.

The opportunities offered by the responsible blockchain ecosystem need to be authorized sincerely and regulators should be ready for not expected outcomes and failures. Just in case things go wrong, a variety of rules are required assuring an agreement with privacy rights to improvising security issues. Shareholders willingly share all these duties. The demand of the present time has compelled all the actors, miners, developers, producers, suppliers and retailers to use the blockchain technology for solving everything. For this requirement, a structured approach can help the practitioners on how to use this technology.

In the end, the future of blockchain is ready for time being, aware of the commitments and going through the facts and data. There are far more companies and people with data and views on the immediate and future of blockchain. Covering everything is not possible so creating a list of more forecasts on the future of blockchain in the real world versus the virtual one need focus on the practical—the real instead of the promises, the applications and the industries.