Week #7- The Blockchain, Balt 318

By now I am sure that you have heard of the fast moving cryptocurrencies.  This new form of currency is run with blockchain technology, where the digital proofing of data is encrypted and stored on a general public ledger in order to decentralize and eliminate unneeded middlemen.

Although these cryptocurrencies come with a lot of volatility, which seems to hold back some investors. What they don't understand is that the background technology can be used in just about ever industry.

For example, Walmart has tested using blockchain for tracking the life of their produce.  The test allowed the supply chain team to exponentially reduce the time and money needed to track the life of a bag of tangerines.

This technology is also being used in the virtual reality and gaming.  Currently, gamers hold multiple virtual assets on multiple games.  Connecting these with blockchain will allow these virtual assets to hold outside value from just the game itself.

I am very excited about the technology called blockchain and what it holds for us in the future.  While these are only a few implementations of the use, the technology alone will be life-changing.