Blockchain tech is revolutionary, blah, blah. If you have opened a webpage, newspaper, or watched the news in the last year or so, you already know that. We aren’t going to go into how it works or how many different industries it is set to disrupt.
The researchers at BitFortune.net did a sterling job of looking into that already. They compiled results in a quick and easy-to-read infographic for you. We have put that under this post, so be sure to check it out.
For us, though, while the information about supply chain management is good to know, it is not the most exciting possible application of the tech. For anyone who grew up watching Star Trek and Star Wars – like all true sci-fi fans, I don’t play favorites here – there has to be more to blockchain.
And, there certainly is. One of the possible applications of this tech is that it could make the Internet of Things a reality. What’s that? Have you ever secretly wished you could introduce your toaster to a nice kettle? (Okay, maybe that’s just me.)
But, seriously now, what if you could tell your car to start boiling the kettle when you were just a few minutes from home. I did say tell your car because in an Internet of Things world, all of your appliances are able to talk to one another. So, your car could get a little bossy, if you liked.
We have had the tech to do this for quite a while already. What we have lacked is a central network to administer the system with. Say, for example, that you wanted two appliances to be able to communicate. That would have to be managed by an app that would have to be based on a server.
But, maintaining a server to control thousands of items is prohibitively expensive. With the blockchain, however, the expense is shared between all the users, making the it a lot more affordable. Are we there yet? Not quite, but it won’t be long now.