Blockchain To Be One of 2018’s Biggest Investments

January 2, 2018         By: Steven Anderson

While for most people right now, “blockchain” basically means “how cryptocurrency works,” there’s a lot more that this technology can do. In fact, for a lot of uses, it has barely scratched the surface. Blockchain is so versatile that, according to reports, it will likely become one of the biggest investment sectors of 2018.

What’s the motivation behind those reports? A look at the wider market suggests that the already-versatile blockchain will actually become more so going forward, and a passel of use cases will help drive this technology forward.

The blockchain’s inherent features do it a lot of credit. While it pretty much makes cryptocurrency a thing, many of those same features become valuable elsewhere. The fact that it rechecks itself every 10 minutes and is built around an algorithm that helps make online transactions easier to verify certainly helps, and the fact that it has no one failure point or ability to be controlled by a single group improves its prospects greatly.

However, in 2018, the investment in blockchain is set to grow for several reasons. First, blockchain is set to move into areas like supply chain management and even tracking digital rights in music and movies, a development which should give it many more potential customers. An expected incorporation with the Internet of Things for better workflow will also help, and the blockchain itself is set to improve as well with better size and space characteristics involved.

Throw in the ongoing frenzy over cryptocurrency and the blockchain’s value isn’t set to go down any time soon. Rather, it can only go up from here; even if it were just limited to cryptocurrency, the rise in that market would make it more valuable. When several new markets enter the fray, it’s clear that the technology in question can only become more valuable. A one-trick pony might be worth a mention; the blockchain’s sheer versatility will make it a winner for years, potentially decades to come.

So when looking at 2018 in not only fintech, but in other technologies as well, it’s clear that the blockchain is likely going to be one of the big winners of the year to come.