Many digital marketers, SEO and other digital world experts believe that we people are living in fourth digital generation. Technology is getting really advanced now a day. In digital technology domain blockchain has developed as one of the tremendous inventions. Everyone is aware of the fact that blockchain retains the way to endless technological possibilities. Today, everyone starting from government, entrepreneurs, companies and new start-ups are doing growth with the help of blockchain. The crowd funding domain has already distorted in 2017 by Initial Coin Offerings. Traditional crowd funding models were overtaken by ICOs.
Blockchain application is in various domains of human effort, expectations are set to be up for this year. This blog scrutinizes blockchain technology recent trends to look out in 2018.
1. Blockchain and the internet of things:
Since 2014, it was known that blockchain technology can be used only for financial applications. The Ethereum blockchain and its initiation of the smart contract framework have opened up new possibilities now. Many technical experts in this field have trust that blockchain technology retains the solution to some of the troubles disturbing the successful execution of IoT.
What is an Internet of Things (IoT):
The (IOT) is an augmentation of internet communication limits to involve every possible tangible thing on the planet. It is a network of devices, animals, people, vehicles etc. which are capable of communicating and transmit data. With the help of using an array of sensors, actuators, RFID chips and other network connectivity devices, everything on the planet get linked and connected. Once it gets successfully implemented then without human interaction machine to machine communication can be possible.
Many stakeholders in the IoT development domain are searching the potential usage of blockchain in the IoT model.
Blockchain – IoT implementation:
Blockchain has the prospect to provide a secured framework for the IoT. The Blockchain is descriptively tamper-proof. As blockchain have one financial advantage that the secured blockchain is also cost-effective and provides faster transaction speed? Blockchain has already manifested to be the vigorous decentralized model that resists malicious war through a single point of failure. With data integrity being an even greater concern to the fidelity of the IoT, it is beyond doubt that blockchain will play an important role in its development in 2018.
2. Blockchain and Artificial Intelligence:
Since computers had been invented, scientists have been watching for various ways to develop thinking machines. AI is nothing but an algorithm that enables machines to manifest functions they weren’t programmed for. In order to operate to its fullest capacity, machines which have the potential of learning how to operate “big data”. Exchange of big data is not financially viable, but with the support of blockchain, this all could change. Blockchain can provide a safe atmosphere for big data owners to link with AI developers. By doing so, complex machine learning algorithms can be developed to help smart devices take benefits of the big data available to them in order to achieve artificial intelligence.
At previous decades, machines like computers technologies like internet were developed and they all are meant to be one of the greatest inventions invented in the welfare of mankind which is helping in all-round development of human. Blockchain technology has the potential to assimilate and propound feasible panacea to many of these technology advancements. As the procedures become more strengthen and data points become more scattered, network security will become a major issue. This is a platform where blockchain technology with its descriptive immutability and vigorous security become key to the successful implementation of these procedures.