Digital transformation was in the scene for the past few years, and it is sure to continue influencing organizations in the year 2020 as well. Of those many factors impacting this digital transformation, blockchain is a prominent one.
In simple words, a blockchain is a time-shaped series of fixed records of data that is held by a number of computers. These computers are owned by a single entity. These data blocks are secured and bound to each other by cryptographic principles.
Talking about blockchain technology, well, it is more like a chain of blocks but not in the traditional sense. Here the word ‘block’ refers to the digital transformation, whereas ‘chain’ stands for a public database.
The Technology Will Continue To Flourish
Many people think that blockchain is a means to create currency like bitcoin, but that’s just a part of it. Organizations also use blockchain solutions to attain operational efficiency by digitizing records or automating business processes. In the near future, it is expected that the applications with blockchain technology will have a better potential to improve the secure sharing of information amongst the familiar entities. Not just this, it will also improve the process of tracking and tracing digital and physical goods.
Here are some ways of blockchain that will continue power digital transformation:
Connected Clouds Will Continue Advance
For the past few years, connected clouds are evolving to fulfill the changing needs of the companies including networking, cloud-sourced storage, security, and app development. Providers are now started showing an interest in connecting clouds so that, applications can be secured, streamlines, and run seamlessly.
Privacy and Digital Ethics Will Be Topmost Priority
Not just government, but organizations and individuals are concerned over the use of their personal information by companies in both private and public sectors. It is important that organizations address these concerns. This cannot just be resolved by ensuring that whether or not an organization is compliant with privacy laws. The subject needs more action than just this. Hence, digital ethics will be one of those important topics in 2020 as many firms will be looking to learn different ways to handle or manage privacy and information.
Smart Spaces Will Be in Every Vertical
A smart space is basically a digital or physical environment where various elements, including processes, services, people and things, interact or communicate to create a more automated, interactive and engaging experience for a target audience. In the future, these smart places will be more seen in smart cities, smart homes, digital workspaces, and connected factories.
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If you wish to know more about blockchain development and how it is influencing digital transformation, then connect with Auxesis Infotech. With their immense knowledge and years of experience in the industry, they can fill you with the right knowledge.