4 Reasons Why The Blockchain Technology Is Booming in 2018

1. Blockchain development

We already learned that the architecture behind a blockchain is a decentralized structure. This means that there is no need for intermediaries since peer-to-peer interaction is enabled. This year, serious improvements can be noticed in the architecture of the blockchain itself. The technology is changed and made even easier for users, but also the way the technology is being used is changed in a lot of aspects.

2. Crypto-Embrace

Some countries in the world such as Venezuela lost more than 90% of their fiat currency value. They were later hit by a great inflation. Some of the measures that were taken to solve this problem were the decisions of the government to turn to blockchain technology. Officials accepted every cryptocurrency as a payment and citizens and users around the world were able to send or receive money to the country without waiting for days.

3. Broad blockchain use

The blockchain technology has gone far beyond the expectations of its creators. Today, this technology is used in many industries and in the everyday life. This means improved consumer-merchant relationship. No intermediaries are used in the process and thus consumer can close better deals and also be rewarded for participating.

4. Small Business Paradise

Opening a business can be an incredibly difficult process often faced with a lot of bureaucracies. In the past two years, blockchain technology proved to be of huge help for the small businesses making every process so much easier. There are a lot of startups that embrace blockchain, creating easy and accessible systems for its users.