Why blockchain is so popular today?

in #blockchain7 years ago (edited)

I think over the Blockchain when it was the all-over-the-world hype around this topic.
At that moment I haven't got a lot of knowledge about this technology so I decided to learn more about it.
My first question was about why blockchain transforms so many industries and what future is predicted for this new tech.
The main features that I got from searching that question:

  1. This is an open source technology that enables reliable recording of ANY kind of information;
  2. It is nearly unhackable: blockchain uses a method of affirming the data stored in links of the “chain” with cryptographic methods.

blockchain.jpg

The next question I had was about projects which need blockchain and not need. Of course, some businesspeople try to follow all trends but what industries are most suited for this tech?
The list of industries that are most suit for blockchain is the next:

  • Legislation and Government
  • Healthcare
  • Energy Delivery
  • Supply Chain
  • Retail
  • Real Estate
  • Foods
  • Travel and Tourism

blockchain for industries.jpg

Then I think how companies should understand if their project needs blockchain.

blockchain for projects.jpg

Searching and analyzing a huge amount of information I can make the next conclusions:
The answer is NO if:

  • you consider the Blockchain option solely due to its popularity;
  • you can simply use any traditional type of database in your project.

The answer is YES if:

  • there is an obvious need in a shared database;
  • there is a lack of trust between people who have the access to a database,
  • you want to exclude the influence of intermediaries,
  • the transactions require the highest level of security and reliability.
Sort:  

Congratulations @valerykorn! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

Click here to view your Board

Do not miss the last post from @steemitboard:

Carnival Challenge - Collect badge and win 5 STEEM
Vote for @Steemitboard as a witness and get one more award and increased upvotes!

Congratulations @valerykorn! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Do not miss the last post from @steemitboard:

Use your witness votes and get the Community Badge
Vote for @Steemitboard as a witness to get one more award and increased upvotes!