How Application of Blockchain Technology will change Mobile App Development World
In the past few years, the mobile app development has seen a huge rise in the demand for skilled mobile app developers. As we can see that people nowadays are using smartphones for executing daily tasks from working to shopping, for traveling, for booking tickets, paying bills and sharing etc.
Here blockchain technology not only makes these transactions possible but also provides security for the confidential information. Mobile app development is just one type of project a blockchain developer may undertake. By the growing rate of mobile apps, security becomes the most important focus in blockchain development.
Demand for Blockchain Solutions
At the end of 2017, demand for blockchain programming skills was on rising and it has been seen that blockchain developers ranked second among the top 20 fastest-growing job skills in 2017 showing a 200% growth from the second to third quarter of the year. And that demand has been continuously growing in 2018 with the growth in the technology.
The demand for blockchain implementation is strong and finding blockchain developers to meet this demand is not easy. Blockchain's original association connection with cryptocurrency has caused many to view the technology as one that is reserved for the investment industry. There are also companies those are dedicatedly working on developing blockchain applications but still, the demand for electronic ledger is much broader than cryptocurrencies. This demand has led to a buzz in the business world centered around everything blockchain
Application of Blockchain Technology
Blockchain technology is a revolution in systems of record. Blockchain development is certainly a major asset to the financial industry. The technology provides several benefits to reduce fraud, improve liquidity, and free up capital to improve the way financial businesses navigate their systems. But, finance isn’t the only industry where blockchain architecture has gained steam. Other than finance, blockchain developers have implemented the technology in other industries. It seems wherever the technology has been tried, one thing remains consistent, it is effective in driving businesses forward. Let’s look at the most interesting uses of blockchain today.
The retail industry, uses blockchain to enhance supply chain management and provide better quality control. Be it digital currencies or smart contracts blockchain allow those in the retail industry to create, verify, and enforce the negotiation of digitally simplified contracts.
For the manufacturing industry, use this technology to improved tracking of products.
Healthcare industry use blockchain to enhance productivity and effectiveness. Personal medical records can be accessed with authentication across the healthcare industry. Blockchain ensures that personal medical information is encrypted and protected to help providers and patients ensure HIPPA compliance.
Government businesses benefit from blockchain. The technology can help increase transparency with government officials. Government money can be easily traced to unveil how and where every dollar is spent.
Municipalities can use blockchain to track asset registration, reduce fraud, and curb operation costs.
No doubt blockchain technology will not be beneficial to every business operating today, there are many other industries that will see a vast improvement when they implement blockchain which includes education, automotive sales, stock trading, real estate, insurance, law enforcement, human resources, crowdfunding, charities.
Beyond digital money, blockchain being used in these unique ways:
BitPesa, the blockchain based app that allows users to do business across Africa with built in overseas exchange and business to business payment features. As one of the least advanced areas of the world when it comes to fiscal expansion, BitPesa might be the solution to Africa’s liquidity and money transfer disintegration.
Storj, shifting the direction from money to cloud storage, uses blockchain and heavy encryption to store digital matters in the cloud. Storj is taking data storage to the next level by using a CDN to increase security and uptime and improve the speed of delivery of your most important data.
Riot blockchain focused public US stock is one way to indirectly invest in cryptocurrency through the US stock market.
Golem allows users to rent a single workstation or a big data center to create your own on-demand supercomputer. Users mine for cryptocurrency by putting their computer into a network of computers executing intricate calculations. Businesses that use computing power for things like machine learning, graphics rendering, and weather can get computations in a few clicks.
Openbazaar is one of the first marketplaces to accept cryptocurrencies for transactions, OpenBazaar allows Bitcoin users to spend their cryptocurrencies rather than keeping their money tied up in the cloud.
Chronicled, the blockchain based solution to contract and legal document control with anti-fraud opportunities. Chronicled uses automation and digital signatures to edit, mark, and update contracts throughout corporate America.