Blockchain Technology Keeps Growing in Business and Governments

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Blockchain technology is revolutionizing the world. Business and Governments are realizing about the advantages of Blockchain. In this way, this technology is spreading through the world and in different fields.

Governments Use Blockchain Technology

Governments and Businesses discovered in Blockchain technology a wide range of advantages. Blockchain is not only involved in Bitcoin transactions, but its uses can extend to other different areas.

Governments are starting to use this technology in order to improve several of the public functions. Trade, commerce, banking operations, health care, voting, identity management and others could be potentiated with Blockchain technology.

ConsenSys, a Blockchain technology firm, will organize the Blockchain@State Forum with the U.S. Department of State. ConsenSys backed Dubai’s government initiative, an Academy to prepare Ethereum Blockchain developers.

“As one of the largest companies building Blockchain software, with our hub in Brooklyn, New York, we are honoured to continue working closely as the US maintains its leadership as a home for the building of transformative technologies,” commented Joseph Lubin founder of ConsenSys and co-founder of Ethereum.

Businesses Use Blockchain Technology

Bank of America, Amazon, And JP Morgan Chase are developing different solutions with Blockchain technology. For example, Bank of America filled more than 20 blockchain patents since 2014. As we reported as daily Bitcoin news, Jamie Dimon, JP Morgan CEO, gave his opinion on Blockchain.

“Blockchain Technology will be used to transport money. But it will not be Bitcoin, but US Dollars that will be transported,” Dimon said. JP Morgan as well as Bank of America, two of the biggest banks in the world, are investing in Blockchain technology. That would allow them to offer faster and cheaper transactions.

The co-founder of Primechain Technologies explained some of the benefits of the Blockchain technology. “The key benefits of Blockchain technology for banks include greatly improved security, reduced infrastructure costs, greater transparency, auditability and real tie automated settlement,” he said.

Some time ago, some rumours about Amazon accepting Bitcoin were in the most important cryptocurrency news websites. This would be the biggest company in the world accepting Bitcoin payments for products. “Amazon opts to include new products or services only when these are useful for customers – until that point, we do not engage in rough speculation,” said to Die Welt a high staff from Amazon.

Blockchain Wants to Become Mainstream

Different Central Banks are thinking about issuing their own cryptocurrencies to compete with the decentralized virtual ones. In fact, Russia and Kazakhstan are two countries that presented this idea. Russia was the first and was covered by CoinStaker. Kazakhstan followed Russia, and in addition decided to regulate ICOs and cryptocurrencies.

Some Universities are offering new Blockchain courses to prepare the students for the increasing demand. As more enterprises and projects need blockchain specialists, the highest ranked universities are offering new blockchain careers.

Iran and Japan are trying to take profit from this situation with cryptocurrencies. Two countries that need economic bumps, have decided to allow cryptocurrencies to spread on their territories.

Image courtesy of Pixabay