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The hype surrounding Blockchains has exaggerated the realistic capabilities and applications of this new technology. This made it hard on businesses, developers, and investors to understand the practical limitations and to identify the right applications that are appropriate for blockchain or distributed ledger technology.
Karl Wüst and Arthur Gervais from ETH Zurich have published a peer-reviewed paper that presents a structured methodology that can help determine the suitable technical solution to solve a particular application problem.
In the article Mohamed ElSeidy gos through this methodology and explain some examples applied in the paper (ElSeidy, 2018).
Blockchain is a term which is constantly brought up whenever we talk about how technology has changed the way we live. For a good reason, blockchain fundamentally transforms our way of life for the better in a multitude of areas. Blockchain is undoubtedly a notable revolution in systems of record. Several of the brightest minds of industries have even described blockchain as the ‘magic beans’ due to the numerous high-level use cases promised by blockchain. Right from the time of its invention, entrepreneurs in industries across the globe have understood the positive implications of this development.
Blockchain has the potential to revolutionize everything from voting to stock trader
The benefits of blockchain are more than big enough to sustain its relevance for generations to come. Here you will be able to see the most important benefits of blockchain that may prove to be useful to businesses in different industries.
References:
Agrawal, J., 2020. 8 Benefits Of Blockchain To
Industries Beyond Cryptocurrency [online] Entrepreneur. Available at: https://www.entrepreneur.com/article/306420 [Accessed 15 October 2020].
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