Value of Blockchain In Current Era

Blockchain was originally a bitcoin ledger system. The epoch-making system of Bitcoin, which does not have an issuer called a country, attracted attention, and eventually the ledger system was studied as an independent concept called “blockchain”.

There is only a concept derived from Bitcoin, and virtual currency (cryptographic assets) and blockchain are inseparable. Simply put, virtual currency is a “media that shows value on the blockchain”, and by sending and receiving virtual currency, trading of value on the blockchain is done.

The feature of Bitcoin Evolution Software is that there is no central server, and countless users store and synchronize transaction data on the server and operate it using a P2P network.

As a result, there is no issuer such as the United States, Japan, or companies, and it is possible to adjust prices by those organizations and operate currencies without risk of loss of value due to bankruptcy.

In addition, cryptocurrencies can be treated not only as money (value) but also as “indicating rights.” For example, it is also used in a system where a person who holds one virtual currency can enter by presenting it at a live venue.

In addition, information on the blockchain has a low risk of tampering by third parties, and unlike normal servers, there is no downtime in principle, so there is a movement to build a new financial system on a blockchain basis by utilizing those strengths.

In this way, blockchain, which started with bitcoin, is now attracting attention as a technology that updates various business areas. Blockchain is in a “disenchantment period”

On the other hand, compared to the time when it could be called the “virtual currency bubble” from 2017 to January of the following year, I think that the chances of hearing the words of virtual currency (bit coin) and block chain in the general public have now diminished you.

At that time, major virtual currency exchanges also ran bang-bang commercials, and there were voices saying “Virtual currency is profitable. You should buy it. Along with that, information on the concept of blockchain and projects using blockchain was widely disseminated, and many voices supported it.

However, the price of cryptocurrencies has now fallen from one-hundredth to one-hundredth of the time, and the enthusiasm is where to go. Only people who are dreaming of another price increase, some geeks, and blockchain operators are continuing to make calls.

Personally, I think it’s “just back to normal operation”, but according to Gartner, a global IT think tank company, ” blockchain is in a disillusionment period ” It is said that it is in the “phase of excessive expectations” not only at the consumer level but also at the industrial level.

In fact, each company is developing technology using blockchain and verifying its effectiveness through demonstrative experiments. For this reason, some companies have taken the stance that “blockchain was an illusion” after giving up.

What are the future trends for blockchain?

On the other hand, with regard to block chains and virtual currencies, legal regulations and taxation systems are changing rapidly around the world, and technical updates are being made one after another. It’s a turbulent industry where you won’t be able to see the latest information without just following the news for a few days.

Therefore, while it is expected that now come out further also the companies and people who give up in the midst of disillusionment phase, block chain was more advanced in the future have came up the possibility to update the entire industry and You can say that.

Also, while there are demonstration experiments that did not produce good results, the number of blockchain software that has already been launched and that is being developed for practical use after the experiment is increasing.

Furthermore, the e-government has been greatly advanced, and Estonia, which is attracting attention from all over the world, is talking about the adoption of blockchain as its backbone system. The transition of registration systems to blockchain is also being considered in Japan, and the future of transforming all layers, such as consumers, businesses, and countries, is emerging. According to the company, blockchain will bring about social transformation in about 5 to 10 years.

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