Blockchain technology is still in its early adoption phase. The prospects offered by this nascent technology cannot be denied at all. Decentralized aspect offered by blockchain eliminates unnecessary poking of any third party in any framework. Multiple industries across the globe are already flocking in to explore use-cases of this technology to restructure their frameworks and make them efficient. Founder of Elevated District Media, who also goes by the name of ‘Nye The Crypto Guy’ on Twitter, recently expressed his strong faith in the blockchain technology.
Talking to BlockPublisher, Nye stated:
Yes I believe blockchain will revolutionize multiple industries.
Various countries are exploring use-cases of this nascent technology in order to make their workflows more and more efficient with China being one of them. With all the possibilities offered by this technology, smart cities can be created, the music scene across the world can be changed, electoral processes can be revamped, content creation arena can be refurbished and much more. Countries like Switzerland and Israel are also collaborating to fully reap the benefits offered by the blockchain technology. Cryptocurrencies present forward just a single use-case of this revolutionary technological innovation.
Many experts in the arena are already hailing blockchain as the technology of the future. With the help of this technology, financial frameworks across different countries can be made completely transparent and secure. Jason A. Williams, who is the founder of Morgan Creek Digital, previously stated talking to BlockPublisher:
Something that can change everything that we experience around transactions. That’s Blockchain.
The biggest feature that blockchain presents forward is decentralization. Control is taken away from one central authority and is distributed among the nodes participating in the network. All the processes that are taking place on the network are visible to all due to the employment of distributed ledger technology (DLT) at the core of a blockchain network. As a result of this, a transparent fabric of operations is established. Being on a decentralized network with no central authority in charge, users of a blockchain network do not have to hand out their personal and sensitive information to a third party. A complete security fabric is established as a result of this. Blockchain can prove to be of utmost benefit in frameworks where transparency and security are topmost priorities, such as elections, banks etc.
Talking about the vision behind Elevated District Media, Nye also stated:
The vision is to enhance the way companies market in the crypto/blockchain industry by helping these companies become more effective through increased transparency and quality of content.