Blockchain no longer a ‘buzzword’Posted 8th Jun 2018
Blockchain has entered the mainstream and is no longer a ‘buzzword’. Blockchain and other types of Distributed Ledger Technology (DLT) has developed from essentially being associated with Bitcoin to a much broader range of application by offering a trust layer to the world-wide-web that has been impossible to date.
The opportunity for growth in the market lies in disruptive technology across various industries, high adoption of DLT platforms for payments, smart contracts and digital identities and the evolution of a new breed of programmable DLT technology platforms.
To date, much of the focus on blockchain has been monetization and commercial applications, with little incentive for developers to leverage the technology to provide solutions to many of the issues facing today’s society.
Blockchains for Social Good
The launch of the 5M Euro fund “Blockchains for Social Good” by the European Commission last month will help to redress this by rewarding blockchain and DLT innovators who can find ways of utilising the technology to create a positive change in society. Blockchains for Social Good is funded under Horizon 2020, the EU research and innovation programme.Alex Chalkley, Granted Consultancy Director confirms:
“Over the past two years we have noticed a large increase in the number of enquiries from businesses operating in the Blockchain / DLT sector with projects that are looking at core framework development and traceability in the supply chain, amongst others.
Blockchain is no longer a ‘buzzword’ – it is the new normal and we are seeing more clients coming forward with ways to use the technology to disrupt and improve legacy systems. It is great to see EU and UK funders now backing this significant opportunity.”Back to all posts