A definitive guide to Blockchain
Blockchain technology isn’t just another buzzword. It’s transforming industries and that’s why many businesses, experts, and individuals are preparing to adapt to change. So, what is blockchain technology, what benefits does it bring, and how does it actually work? We reveal all in this definitive guide.
We explore some of the controversy surrounding blockchain adoption – especially the barriers that are preventing the technology from reaching the mainstream. We take a look at everything from a lack of education, a lack of scalability, and more importantly – the lack of visible progress.
But that doesn’t mean the benefits of blockchain technology don’t exist. This guide looks at five key benefits of blockchain technology, including security, immutability and cost reduction. These benefits will have a direct impact on multiple industries.
Businesses from various industries, from financial right the way through to retail, are interested in the use cases of blockchain and the benefits it can offer. Some of the most attractive benefits of blockchain include:
- Security and redundancy
- Immutability and trust
- Cost reduction
To discover everything there is to know about Blockchain, be sure to download our guide.
Where there’s a lack of understanding and an apparent lack of progress, reluctance to adoption is easy to come by. Some of the barriers to adoption include restricted internal processes, a lack of understanding and its difficulty to use.
PWC also carried out research into what’s holding back the mainstream adoption of blockchain technology within business. The results included:
- Regulatory uncertainty (48%)
- Lack of trust among users (45%)
- Ability to bring network together (44%)
- Separate blockchains not working together (41%)
So with so much reluctance towards traditional blockchain technology, are there any alternatives that could encourage more users? In this definitive guide, we take a look at two main alternatives: Hedera Hashgraph and DAG technology. You’ll discover the benefits and risks of each, as well as their key differences to traditional blockchain technology.
Discover how new solutions can offer greater options for speed, consensus, and transactions. Download the guide now to explore the blockchain alternatives on offer.
We’ve already outlined some of the barriers to adoption. Our guides will show you the multiple benefits of blockchain, too. To some, blockchain technology still prove controversial – so how can everyone from businesses to individuals overcome the fear of blockchain?
eToro, commissioned Provoke Insights, a market research and strategy firm, to oversee the survey, which was distributed across 1,000 investors. The age range for the survey was between 20 and 65. The key figure that stood out was that 44% of people believed a lack of knowledge and educational resources was a boundary that stopped them from trading.
Even amongst millennials, a lack of education was a major factor in stopping them from investing in crypto. However, despite these high figures, interest in trading and investment has not dropped, with 97% reporting that they are keen to learn more.
Education, then, is absolutely crucial to mainstream adoption of blockchain technology. Sally Eaves, a leader in the blockchain space, claims that education resources with simple explanations are vital to build trust and encourage greater adoption.
She says, “providing this type of content will build legitimacy for the industry whilst enabling people to develop insights into opportunities and risks. It will help them to clarify the distinctions between cryptocurrency and underlying blockchain technology, and make informed choices around investment potential or career development choices.”
To access an educational resource, make sure you download this definitive guide.
As blockchain technology continues to evolve, its use cases will grow. The technology, and its alternatives, are already providing new ways of working, streamlining processes, and helping to lay the foundations for more trusting relationships. Get ahead of mainstream adoption with our insights and knowledge. Download our three guides before blockchain hits the big time!