Blockchain technology is erupting out as the technology of the future. Different industries and organizations across the globe are trying to find use-cases of this technology in order to revamp their workflows. Different experts have their own opinion regarding this technology and its future. But what does a person who is actually involved in the development of this world thinks about it?
In order to get a perspective of this technology from someone who is actively involved in this arena, BlockPublisher got in touch with Penny Childers, Community Manager of Nuls for USA. Nuls is a project aimed at improving the adoption of blockchain in the commercial field and the limitations associated with it.
Talking to BlockPublisher about blockchain, Penny stated:
I think blockchain technology is truly disruptive and will affect every person in the world within the next 15 years. It will pave the way for a decentralized, distributed economy involving innovative automation of so many aspects of life.
The rate at blockchain technology is advancing, it is highly likely that it will infiltrate major industries, institutions and organizations across the globe in the coming future. As implied by Penny, there are strong chances that this technology will somehow enter the lives of almost every person. The aspect of the removal of a centrally controlling party makes this technology stand out among the others.
Penny further added:
Our future is full of smart cities. and blockchain will be at the core of this.
Blockchain employs a distributed ledger framework at its core and as a result of this, all the happenings of the network are visible to every participating node. A secure and transparent fabric of operations is established. The transactions are auditable and malicious activities can be detected by multiples nodes. This makes this technology revolutionary in places where transparency is of utmost importance.
The financial market is just one of the many sectors that can make use of this technology for good. From electoral systems to the music arena, blockchain can prove to be revolutionary. As we are moving towards an age of ‘inter-connectedness’ with AI, IoT etc. emerging on the scene, blockchain can prove to be game-changing in helping establish smart cities, as suggested by Penny, eliminating the involvement of any kind of a third-party.