Blockchain trend

Why blockchain is still a trend in 2019?

Article

Learn how to implement this technology in your business

Blockchain is presented as a candidate to be one of the main trends of 2019. If the block system is already revolutionizing the current technological landscape, expectations are really high for the year that is starting. Last November, Carlos Puga, technology director of Opentrends together with Carles Gòmara, manager of Acció Business Innovation, discussed on false myths about this technology in the program 'Popap' of Catalonia Radio by Mariola Dinarès. In this  link you can listen to the program, but if you rather continue, you will find 3 trends that the blockchain is adopting in 2019.

New integrations

According to a research by Acció, one of the fields where blockchain has the most impact is banking. Services such as transaction automation, cross-border payments, Smart Contracts, invoice financing and KYC validation, are already implementing this technology.

Apart from this sector, blockchain starts to be applied in many other industries. In fact, it has already reached the digitalization of electoral processes to guarantee the security of electronic voting or the integral electronic signature.

Food traceability has also seen an opportunity to  optimize its resources. A blockchain database allows you to identify at what stage of the production chain a product is found (collection, production, processing, storage, distribution...).

Another example: journalism turns to blockchain to combat 'fake news'. The news track record will allow to know the origin of the source or the record of the people who have edited it to guarantee reliable queries.

The key is integrity: Being a distributed database, blockchain does not have a single point of failure (unlike a conventional centralized database), which considerably reduces the chances of an attack that interrupts the operation. Although a node may fall, the data remains accessible through other nodes within the network, since all of them maintain a complete copy of them at all times.

Blockchain implementation Opentrends

At Opentrends we face the challenges of blockchain and take them to reality from training, proof of concept and finally with real projects, with an end to end approach that embraces user experience design, architecture, development and operations. Our blockchain offering includes:

Innovation, strategy, training and consulting in blockchain technology: We provide awareness sessions and trainings designed for the success of the project. Our projects start with ideas, training and immersion workshops to complete the customers blockchain vision.

Blockchain concept tests: We start with a minimum initial viable product (MVP) that will allow us to start testing and validating commercial objectives as a starting point to start an iterative value delivery.

End-to-end solutions: From distributed applications and intelligent contracts for processes, payments and automation of transactions, digital identity projects (SSI), construction of the private or semi-public platform under POA consensus, to tokenomics and cryptocurrencies ...

Security blockchain: Our portfolio of security services block threats through proactive security prevention tools and processes, layers of security with monitoring and detection services, validation of identity protection and data integrity, measures to guarantee the availability of blockchain infrastructure and reactive services.

Architecture and Operations: We operate the complexity of distributed blockchain systems with an approach that includes an IT Architecture Excellence Center (High Availability Architecture Design, Quality Assurance and Automated Testing, Cloud Infrastructure Management and Configuration), Continuous integration and development, and advanced operations management services).
 

The new role of agents

Experts point out intermediaries will be transformed for later disappear. In a first phase of the adoption flow, the role of intermediaries will evolve. Even so, the trend indicates that it will disappear at a later stage. In certain environments, the need for intermediaries who validate a monetary transaction, fix the price of electricity or certify the veracity of a contract is already questioned. In conclusion: the blockchain will begin to open the way for the development of self-regulated, safe and transparent economic markets.

Implementation in Catalan Public Administration

Generalitat promoted the first blockchain world congress last October with a wide range of related events in the Barcelona Blockchain Week. As of 2019, Catalan Government will implement blockchain to the public administration activity to improve the digital services to the citizens. In this way, Catalonia will be a pioneer in adopting a strategy that will have an impact at an organizational, economic and technological level.

At Opentrends we are in the list of 35 companies that Acció has created to find blockchain services in Catalonia. It is one of the latest technologies that we have incorporated as a service thanks to the new collaboration with Caelum Labs. Blockchain allows us to offer decentralized solutions with a new level of automation, transparency and security. The idea of ​​a distributed ledger can be relevant in many different fields for our clients. Taking into account that, as Carlos Puga states, "the user will not know if the blockchain is behind a product since technology is not the end, it is the medium".