The cryptocurrency market has seen exponential growth throughout this year. In the case of Ethereum, purchase prices soared and went from having a value of USD $ 40 to reaching USD $ 320. For its part, Bitcoin has reached new limits within its own history, and there are at least 8 cryptocurrencies climbing positions.
While the value of cryptocurrencies and associated projects continues to grow, the technology behind these assets, Blockchain has begun to be implemented in the world of financial services, distribution chains, logistics, health, music and much more.
Blockchain technology represents a potential for what is the disjunction of any conceivable industry, in fact it is already being used by some federal entities, and some international entities such as the United Nations, and at least eight states in the United States have started to consider including Blockchain among its legislations.
As more organizations begin to investigate more about cryptocurrencies and the Blockchain, many more solutions related to this technology also begin to be created. The market is filling up with applications that have a high margin and usability. Many are being designed to make everyday life easier for users who buy, store and sell cryptocurrencies.
Now, when it comes to other industries, Blockchain development company is creating more than all applications that are used within financial services, payment methods. However, there are many companies that are exploring what other uses they can give the technology, such as IBM, Microsoft Goldman Sachs and Maersk.
Also, more than 80 businesses are already accepting Bitcoins as a form of payment and the list continues to grow. Among the best known names are XBox , and the Windows Store , some travel platforms such as Expedia, and online vendors such as Newegg. Other shopping platforms such as Etsy and Shopify are also starting to accept bitcoins, and Japan’s department store Marui began allowing payments in Bitcoins at one of its largest stores.
Decentralized technology also represents a leap forward in electronic security. Encrypted distribution services on Blockchain development company are the most advanced solution for the storage and use of private data, which means that many industries of health, information, identity protection and public are the next candidates to use the technology.
Companies like Civic are leveraging their high-security services by investing in Blockchain technology in order to leave users in control of all their personal information and letting other people access only when they allow it.
Developing decentralized search platforms is putting everything that is searching for information in the hands of users. Everything is achieved by facilitating direct connections between consumers and merchants, which makes third parties and intermediaries obsolete.
Allowing users to be in control of their own information is a significant shift towards much easier interaction with data for everyday life. Businesses will be able to establish contact with their customers in more effective ways, and in the future we may reach an economy based on cryptocurrencies that we can all enjoy.