Blockchain Distributed Ledger Tech is Prime to Disrupt These 17 Industries

According to Brian Behlendorf, the executive director of Hyperledger, the blockchain revolution is on the way, though it may not be visible. Speaking at a forum in Zug, Switzerland, Brian explains that much of the novelty during the introduction of blockchain are bound to take place behind the scenes, unbeknownst to the public at large.

For many consumers of services, they are not going to comprehend when a financial institution or a web form at a website belonging to a government, or when they go to LinkedIn, and notice green checks against claims of having attended an academic institution. These are just a few of the examples of behind-the-scene activities that are likely to involve blockchain.

This is going to be a revolution in storage and networking and customers. According to Brian, blockchain will make a big impact on the area of online identity, which in many ways, is crying out for a transformation.

Self-Sovereign Identity Systems

Instead of depending on social media systems like Twitter or Facebook, solutions offered by blockchain will be able to hypothetically store data more securely as well as with more utility. This is made possible due to the availability of self-sovereign identity systems. Brian asserts that this is what gets him up in the morning than any other use case.

He further explains that with blockchain, comes a solution that will ensure the end users experience of controlling personal data and identity is made not only easy, but also fluid. Hyperledger is offering the framework as well as the tools which the foundation anticipates will be able to drive invention in the blockchain space.

Currently, Hyperledger has approximately ten code bases, with at least two being in production use. The other eight are used in frameworks to establish blockchains. Brian indicated that more and more alternatives are coming, thanks to the focus of Hyperledger on ‘organic’ enhancement ideas.

In as much as blockchain projects are in a position of raising large amounts of money through token sales, many companies are, however, basing on technologies that power businesses on open source tools. Brian also believes that there’s nothing new in such a situation when compared to the way Linux Foundation works.

In his own views, Brian Behlendorf believes that there might be few developers who are keen on getting involved to augment their expertise and repute. However, most developers work on it due to the fact that their businesses are investigating it, and would desire to either use it or do a pilot. As a result, they have an obligation to make sure that the technology works.

For such developers, the very fact that other firms are utilizing it and are generating revenue from it is just fine. This in essence, is a good thing. Brian Behlendorf is also of the view that much emphasis should be laid on community spirit. This is where Hyperledger comes in since in a number of times, it had to intervene especially when community members take matters too far.

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