BlockChain Technology will Transform our world.

#Blockchain is a technology trend that would covered extensively everything for the next years, and yet most of you still likely to get blank looks if you mention it in non-tech-savvy company.

2020 could finally be the year when that changes, though. #Blockchain is essentially " a digital ledger " used to record transactions but secured due to its encrypted, immutability and decentralized form.

During 2019 some commentators began to argue that the technology was over-hyped and perhaps not as useful as first thought. However, continued investment by the likes of FedEx, IBM, Walmart and Mastercard during 2019 is likely to start to show real-world results, and if they manage to prove its case, could quickly lead to an increase in adoption by smaller players.

And 2020 will also see the launch of Facebook's own blockchain-based crypto-currently #Libra, which is going to create quite a stir ( a Digital currency commonly used for our universe )

First clear applicant for blockchain technology: financial institutions. It’s a twist of fate since originally, blockchain was bound to overcome the financial system, considered at that time as a useless third party. Nevertheless, banks rapidly responded to it. Wall Street is currently investigating for its own blockchain system . Credit Suisse, HSBC, MUFG or Barclays all have join the Unity Settlement Coin (USC) in order to run this technology’s benefits.

Smart contracts are also directly concerned by this breakthrough, whatever the field of application. For example, in the insurance field, some refund policies are automated: a flight insurance can be activated the minute a flight has been cancelled. Once the cancellation has been declared, the smart contract directly processes a refund to the beneficiary, which take away the step of complaints. Public authorities are also likely to exploit this mechanism to deal with social services, for digital elections implementation or to hold securities.

Another goldmine for blockchain technology: smart cars. The concept of shared ledger offers strong solutions against complications that the supply chain in this industry can create. This allows to keep on track an efficient amount of data, to verify resellers’ identity and to ease conditional transactions. We omit the communication channel towards smart cars exchange information with other vehicles, or connected objects. Blockchain meet the needs of data, transportation, distribution and data storage that cars produce every minute.

Blockchain is also very useful in the health industry: to store and secure data about patients, surgeries history, hospital admissions, former diseases, etc. In a close future where each individual will be considered as a massive code regarding its health, blockchain technology will have a key role.

Finally, blockchain technology is openly concerned in the Internet of Things (#IoT) industry. Investments forecast more than six trillion of dollars in the next five years, with an increasing number of companies looking to stand up in this very competitive market. Rapidly forwarding data in a secured way via distribution wallets’ technology establish a real opportunity for those industries.

The blockchain method, in its present application, comes with drawbacks: extremely energy consuming, with complex technics to integrate, not enough mainstreamed, without any industrial standards or with very few regulations by the states and institutions, etc.

Nevertheless, one sure thing is: beyond its convenient embodiment, the blockchain technology will have a bright future.