Blockchain technology is already being used … There are many blockchain software development companies that are using blockchain for creating supply chain management solutions. The daunting task is to persuade social media platforms to do so, this could be voluntary or due to the result of various privacy laws similar to the GDP. In addition, the cryptocurrency will appear in the country, and the government will inevitably need to determine the benefits of the downgraded currency. The technology is able to solve the biggest problems of the sector. Fewer companies are embarking on blockchain projects today than in the 2016-2018 period, especially in North America and Europe. The IoT technology market will see a renewed focus on security as complex security challenges arise. Currently, each agency has its separate database, so they have to constantly require information about residents from each other. Blockchain networks can be categorized into public, private, hybrid, and federated. Your comment will be published after validation. Research and advisory firm Gartner listed blockchain as one of the top ten strategic technologies for 2020. *Your comment will be reviewed before being published, This Is How Global Warming Affects the Transmission of Diseases, Technosols: Customised Soils to Revive the Earth and Perhaps Conquer Other Worlds, Securing the Internet of Things (IoT) with Blockchain, Future and Challenges of Wearable Technology, Ventana al Conocimiento (Knowledge Window). Federated Blockchain Networks. Also, Blockchain can reduce the additional bureaucracy while providing faster transactions with negligible transactional costs in the banking system. Blockchain is like a trending wave and a revolutionary platform that will change things. It said public blockchains are presently too immature for enterprise deployment due to poor scalability and interoperability but expects the technology to overcome these issues by 2023. First of all, it can prevent things like Facebook – Cambridge Analytica data scandal. Blockchain: 5 Trends To Remember For 2020. But what does the federated blockchain mean? Bitcoin uses mining for recording the identities of participating parties. This is a summary of the thoughts that we have explained in this article. With the implementation of blockchain, it can be ensured that all the social media published data remain untraceable and cannot be duplicated, even after its deletion. PWC report, 77 percent of financial institutions are expected to adopt blockchain technology as part of an in-production system or process by 2020. One of the blockchain trends in 2020 is the BaaS, which is a short name for Blockchain … With billions of devices connected and more to be added, IoT is a big target for cyber-attacks, which makes security extremely important. top 5 current blockchain trends for 2020 and beyond Blockchain technology is starting to find its way into many different corners of the world. I hope you enjoyed the blog. The driving force behind the usage of a well-known stablecoins currency is the introduction of cryptocurrency on Facebook “The Balance” in 2020, despite all the challenges posed by the new cryptocurrency by Facebook and its growing partners at libra.org. By Tech Cults. For instance, in the space of 3D printing, blockchain makes it possible for the organizations to apply provenance, data governance, and ensure validation and auditability. Many industries will adopt it. 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