In this week’s blockchain round-up, we have compiled three articles on this hot topic. Each one offers a unique perspective into blockchain technology, with an article on the technology’s background to articles on how it will improve IT and its adoption within banks and institutions.
Blockchain Explained: All You Need to Know about the Transaction Technology
In this article, Mark Mayne breaks down blockchain technology, explaining it to be a relatively simple concept as a decentralized ledger system that is accessible and secure.
Mayne dives into the history of blockchain, with the Bitcoin blockchain concept first taking place in 1998. From there, he goes further into how this technology is more than just an online currency, with businesses and governments showing interest in blockchain technology for its significant cost savings over traditional centralized databases.
Read more here, via IBC365.
Blockchain: What is it Good for, in Real-World IT?
In this article, CIO contributor, Chris Bovasso, highlights how blockchain has the chance to recreate the world’s financial systems and how it also has the potential to make IT departments more secure and efficient.
Bovasso sheds light on how transactions work within blockchain technology and how they need to be implemented in order to improve IT.
Read more here, via CIO.
Today’s Number is About… Blockchain Adoption
Blockchain technology should transform the market by 2020, with an expected 80 percent of financial institutions to adopt this concept.
This article mentions the future adoption of blockchain within banks and institutions, and gives new perspectives from companies regarding how they feel about the technology, taken from a report by Bain & Company. The report holds a great deal of new information, but one to know is that 35 percent of institutions express that they will implement this new technology before 2018.
Read more here, via BBVA.