The popular term “blockchain” is often associated with Bitcoin, ICOs, and cryptocurrencies. Although this is only one of the blockchain’s many purposes. Certain industries are thrilled about it’s potential, but it appears that they are also skeptical about the efficiency it may have, and this is quite because of the lack of knowledge in most industries.
Every transaction in this ledger is authorized by the digital signature of the owner, which authenticates the transaction and safeguards it from tampering. For this reason, the information the digital ledger contains is highly secure.
That is why it has become very popular now on day, because it avoids the long process and facilitates a faster movement in the transaction, saving both time and money.
According to a report from the International Data Corporation (IDC), Blockchain spending is anticipated to reach approximately 12 billion USD by 2022.
The fact that this technology has the potential to solve problems in various industries is undeniable. Many financial institutions, retailers, and even companies are looking forward to integrating blockchain.
Come and join us to our next webinar to analyze more about this extended topic with Raymundo Camara, who is part of the management board at Avocado Blockchain Services.
Register here: Analyzing Blockchain
