The potential for blockchain technology to bring about widespread change has been predicted since 2011 and the emergence of Bitcoin. Perhaps spurred on by the meteoric rise in price of Bitcoin – the first tangible example of a blockchain technology – hype grew around encrypted, distributed ledgers in the financial sector. Meanwhile in manufacturing and industry, the Blockchain Research Institute, the founders of which include IBM, Pepsi Co and FedEx, say it expects blockchain to become the “second generation” of the digital revolution following the development of the internet. It has highlighted work by electronics manufacturer Foxconn to use blockchain to track transactions in its supply chain. This is likely to be further down the road, but it is likely we will see research and breakthroughs in this area in 2018.

Source: Forbes November 22, 2017 06:22 UTC