It's Time To Embrace Blockchain Technology

This is going to be a bold statement: It’s time for your business to start embracing blockchain, the biggest game-changer in technology since the Internet.

Blockchain, to those unfamiliar with the concept, is a hyper-ledger. This technology makes it possible for users to enjoy a transparent and distributed digital record of transactions while doing away with the need for a central database. 

By decentralising data storage and enabling distribution of digital records, this technology provides transparency and allows users to transact with one another without needing a third party. With blockchain, everyone can manage their own data, from money to personal information.

Making data transparent, accessible and incorruptible can go a long way. Imagine what will happen when the average person has complete control over how their data is managed, there would be no need for third parties, which will drastically lower transaction costs, reduce waiting times and ultimately make services more accessible to people from all walks of life. 

This technology is about to change every industry’s practices, and early adopters will be sure winners.

How is blockchain augmenting traditional industries?

Blockchain technology in mainstream industries allows all participants to perform cost-effective verification, thus lowering the costs of auditing transaction information. In effect, blockchain allows new marketplaces to emerge.

Music streaming disrupted the music industry in the same way mobile phones changed the way people communicate. 

Blockchain will not only allow listeners to access music legally, it will also make royalty payments transparent for rights holders, labels and distributors.

What is the key to making a blockchain project succeed?

Blockchain projects all boil down to trust and transparency. Without achieving these two factors, everything that you have ticked off your team’s checklist will be for nothing.

What separates blockchain projects from traditional and mainstream products is that they all operate on a platform that centers on a community of users. If you plan to work on a blockchain project, expect that your future users will be onboard from the moment your website goes live. They will be watching and commenting on your every move online, and they will be asking questions.

What challenges arise in implementing blockchain technology?

Consumer engagement is always good for business. The challenge lies in turning that engagement into education and a good sounding board for feedback. This is crucial, especially because decentralization is a novel idea to many mainstream consumers.  This step is where many ICOs failed in the previous year. There’s a number of reasons why blockchain startups experience failure to launch, but here are the things that are worth taking note of:

• Lack of a tangible product that solves real-world problems
• Little engagement with the community
• Lack of transparency

People are not afraid of new technology, for example, Bancor, one of the ICOs that launched last year, raised $153 million in three hours. What can burn a supportive community is dishonesty, which is an issue in a space that allows anyone and everyone to create a project. Add unpleasant news about security threats in exchanges and ICO websites, and you have a market full of fear, uncertainty and doubt.

Sustainability can only be achieved by those who listen to what the market says, understand exactly what it wants and commit to meeting those expectations in every rollout. In the blockchain space, the clear winners are those that released a platform with user-friendly interfaces and made direct and consistent engagement with its community during development. Launching an ICO doesn’t rest on having a shiny whitepaper anymore. Successful blockchain projects are those that are able to solve market uncertainties through proof of concept and proof of work. 

How will Blockchain become Mainstream?

In the end, the biggest winners in the blockchain space are those that are able to show that this technology works for their target market.

While blockchain is a solution to a number of woes, it is not the panacea that we are looking for, at least not yet. There is a ton of work that needs to be done as we strive to make blockchain an accessible concept. This means localising content, designing for a mainstream audience, creating an almost frictionless development process, constantly being active on social media to inform everyone about latest developments and sharing content explaining how blockchain projects work to solve industry issues.

Is blockchain a bubble? That’s what they all said about the Internet in 1995. Now it’s as if we cannot live without it. We’re on the brink of the blockchain future, and we are already seeing how big it is going to get. This is the best time to start embracing and discovering this new technology.

Forbes:

You Might Also Read:

Blockchain As A Service Market To Reach $7 Billion

« Guide To All Things Criminal On The Web
British MoD Secrets Exposed In Dozens Of Breaches »

Infosecurity Europe
CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Infosecurity Europe, 3-5 June 2025, ExCel London

Infosecurity Europe, 3-5 June 2025, ExCel London

This year, Infosecurity Europe marks 30 years of bringing the global cybersecurity community together to further our joint mission of Building a Safer Cyber World.

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

Syxsense

Syxsense

Syxsense brings together endpoint management and security for greater efficiency and collaboration between IT management and security teams.

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

Maryman & Associates

Maryman & Associates

Maryman & Associates are specialists in computer forensic investigations, incident response and e-discovery services.

Data Recovery Services (DRS)

Data Recovery Services (DRS)

DRS provides data recovery services from media including hard disk drives, RAID, solid state disks SSD, memory sticks, USB drives, SD cards, tapes and mobile phones.

Shieldfy

Shieldfy

Shieldfy is a cloud-based security shield for your website to protect it from cyber attacks and malwares.

Intuity

Intuity

The Intuity suite of services provides companies with a complete awareness of their security status and helps them in an efficient, efficient and sustainable improvement process.

Proton Data Security

Proton Data Security

Proton Data Security is a certified small business specializing in the design, manufacturing and sales of data security products for permanent erasure of hard drives, tapes and optical media.

Enterprise Ethereum Alliance (EEA)

Enterprise Ethereum Alliance (EEA)

EEA is a member-led industry organization whose objective is to drive the use of Ethereum blockchain technology as an open-standard to empower ALL enterprises.

Plug and Play Tech Center

Plug and Play Tech Center

Plug and Play is the ultimate innovation platform, bringing together the best startups and the world’s largest corporations.

Cyway

Cyway

Cyway is a value-added cybersecurity distributor focusing on on-prem, cloud solutions and hybrid solutions, IoT, AI & machine learning IT security technologies.

SecondWrite

SecondWrite

SecondWrite’s next-generation malware detection engine delivers a combination of automatic deep code inspection and accurate scoring of zero-day malware.

Code Intelligence

Code Intelligence

Code Intelligence offers a platform for automated software security testing to help developers make their software more robust and secure.

Cyber Readiness Institute (CRI)

Cyber Readiness Institute (CRI)

At the Cyber Readiness Institute, our mission is simple: empower small and medium-sized enterprises with free tools and resources to help them become more secure and resilient.

Bytes Technology Group

Bytes Technology Group

Bytes is a leading provider of world-class IT solutions. Our growing portfolio of services includes cloud, security, licensing, SAM, storage, virtualisation and managed services.

Gotham Security

Gotham Security

Gotham Security delivers high-quality penetration testing, malicious adversary simulation, compliance program development, and threat intelligence services.

SecureTeam

SecureTeam

SecureTeam are a UK-based information security practice, specialising in all areas of cybersecurity.

Geobridge

Geobridge

Geobridge was one of the first information security solutions providers to support cryptography and payment applications for payment processors, financial institutions and retail organizations.

Intracis

Intracis

Intracis is a 'Made in India' cyber incident management solution aimed at ‘Making Security Simple’ by simplifying cyber incident management for CERTS and CSIRTS.