The whole blockchain concept needs little introduction after the mass publicity over the past year. While it’s a fairly recent discovery for many of us, businesses are moving fast to encompass the benefits offered by blockchain apps. From large traditional companies, to cutting-edge technology start-ups, these benefits to businesses are becoming increasingly obvious. The way forward is clear. Blockchain technologies are here to stay, with lower costs, and faster and more secure systems being the reward for adopting blockchain and all that comes with it. Investment in blockchain app development is certainly something to consider. It’s been well proven with Bitcoin, but there are so many more possibilities. The future certainly looks interesting.
The adaptation of Smart Contracts to suit a variety of businesses
The term ‘smart contract’ was first used back in the early 90’s, but it’s only in the last few years that it has become a term that many people are truly familiar with. The smart contract isn’t always an actual contract in the usual sense of the word, but is a piece of computer code that is a go-between between two parties. It’s a transfer process that is ultimately, safe, secure and reliable. It may be transferring confidential information or cryptocurrencies. Whether you’re accessing your medical test results online, or you’re sending payment to a contractor overseas, you need it to be secure and you need it to be fast. Smart contracts give us all this and more. The smart contract is tailor-made by blockchain app developers to ensure that exact criteria are fulfilled before any transaction of data occurs.
Hyperledger pushes the boundaries of blockchain
For anyone with an interest in just how blockchain can be used for practical business solutions, a look at the open-source blockchain project Hyperledger is a must. Set up in 2015 by the Linux Foundation, the project has accrued interest and involvement from blockchain app developers and big businesses alike. Being open source, the entire project is entirely transparent and literally anyone can get involved. With contributors including IBM, Cisco, Intel and many more big names, it’s not hard to see that these projects are ones to watch.
Some useful Dapps you can test out right now
While you’ll read a lot about the future of blockchain apps, you want to see what it’s capable of now right? Take a look at…
BlockParty – See what they did with the name there? BlockParty is a smart contract distributed app that helps event organisers automatically deal with attendances. The concept is simple. Apply to attend an event and you pay a deposit. If you don’t attend, you lose your deposit, if you attend, your deposit is returned. A simple idea, yet one that’s time consuming to implement without this dapp.
Gnosis – A dapp that gives you the ability to bet on events.
FlightDelay – This dapp helps to spread the risk of delayed or cancelled flights with other passengers. While the test phase is now over, you can still access the UI and get a feel for what this app could offer.
Metamask – A dapp for Chrome that allows you to use your Chrome browser to access sites and make trades with this hosted wallet.
Businesses are turning to blockchain as a viable solution to many corporate pain points. Smart Contracts, Dapps, and other blockchain development projects could increase efficiency and negate security issues across a number of industries. This is why it’s important to keep pushing forward with blockchain and technology – it’s for the future.
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