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Its reach can also transform commerce, supply chain, and logistics.Blockchain was one of the most talked about technology trends in recent years.
One way of looking at it is that data security is ensured by mathematics (cryptography), rather than having to rely on the reliability of whoever the data is in hands at any given time.Blockchain is valuable for any type of transaction where securities and timestamps must be securely recorded, which is why it is of particular interest to financial services companies.
With a limited supply and the need to stay in a refrigerated condition, this is a great example of a problem for which blockchain provides a solution.Over the next year, we are likely to see blockchain being used to track vaccines from the point of manufacture to the patient.Currently, IBM is a leader in the field in implementing blockchain-based solutions to these problems.
The company has a system in place and is now in talks with pharmaceutical companies with the aim of launching a pilot project.Two UK hospitals are also testing an expansion of a blockchain system currently used to track the distribution of chemotherapy drugs and the Covid-19 vaccine.
By comparison, spending was said to be around US $ 2.7 billion in 2019, and we will see this acceleration increase over the next year.
THE RISE OF NFTSNFTs are certainly a trending topic right now and something that we are going to hear more about throughout the year.
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