We all know the power of technology in modern times. Today from analyzing complex data to enabling various lifestyle activities, technology is an essential part of the entire system. Amidst the many technological advancements, Blockchain technology is one of the most disruptive.
According to predictions backed by research and observing current patterns, by 2023, the total amount spent on acquiring Blockchain solutions will be roughly around 15.9 billion dollars. Isn’t it huge?
What is Blockchain Technology? Let’s decode!
In simple words, Blockchain is the technology that records information and keeps it safe from any fraudulent activity. Blockchain is a digital ledger of many transactions that make the block in the chain.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. Each transaction in the digital ledger is authenticated by the owner, making it highly secured in nature.
The most intriguing part of this technology is that anybody can see the data but will not be able to corrupt it or change it.
Why is Blockchain Technology Now in Every Block?
Let’s understand the importance of Blockchain technology with an example first. For example, if you are transferring money to anybody through net banking from your bank account there is a possible threat that most of us will neglect here.
These types of transactions can be adulterated easily. There are types of hackers who can easily get to your bank account. This is the main reason why there is a high usage of third party payment options. This is also the sole reason for the innovation of Blockchain technology.
Blockchain has now become extremely popular as it eliminates the lengthy processes that were traditionally used for recording transactions and data. Blockchain technology can minimize the involvement of the third party and manual labour. It has successfully facilitated faster transactions and safer keeping, enabling a great deal of savings in terms of time and money.
Also, there is a difference between bitcoin and Blockchain technology. Blockchain technology enables and supports various applications and safeguards bitcoin, while bitcoin is the digital currency.
Which Industries Use Blockchain Technology?
Today the technology-driven era is ensuring faster and better growth across industries. Some of the industries where Blockchain technology is heavily used are:
- Supply Chain Management
- Real Estate
Let’s list the advantages of using Blockchain Technology:
Increases Safety and Security.
There is no doubt that Blockchain technology helps keep all data with amplified security and safety. This helps in maintaining the confidentiality of all things stored.
More transparency, as you can see which document is being used by who. This helps in keeping everyone in the loop aware of what is happening and what is not. Any new transaction that takes place is added to the system and kept safe for future references.
Due to the decentralized nature of Blockchain, the need for a middleman is eliminated. You can make cross-border payments with the help of digital currency. From smart contracts that will automatically remind you about the expiry or renewal to a unified approach in recording every detail, Blockchain technology is the future of this fast-growing world where time is money!
Each time exchange of goods happens, it gets recorded on a Blockchain. This technology is an absolute blessing to exchange-related businesses. It can help enhance the entire supply chain as it records everything as proof, from manufacturer to distributor. Many companies have benefitted from Blockchain technology.
What are the opportunities available for you?
Technology is not a layman’s theory. It needs the expertise to bring out the benefits it actually offers. When it comes to business and technology together, professionals with specific knowledge are needed at the managerial levels for better function and application.
The industry of technology hosts ample opportunities for you to explore and colleges are now coming up with programs that will teach you the wonders of various technologies and help you innovate solutions using the same for the betterment of a business.
Employers today need skilled and knowledgeable experts who are trained in the practical world as well through workshops and internships and not just inside the four walls of the classroom. If you are looking for a direction in your career that involves technology and business then hop on to the wagon of studying futuristic programs like Future-Ready Skills Training. Want to know more about a comprehensive, competitive, and professional course that trains aspiring professionals?
Get ready for the future with Future-Ready Skills Training.
Future-Ready Skills Training is a project to enable dreams and help young talents in achieving a prosperous career. This is one of the most thoughtful initiatives planned and executed by the Symbiosis Open Education Society and Symbiosis Skills and Professional University Pune.
From a well-planned curriculum to a highly experienced faculty to unique ways of teaching and industry-relevant training, the advantages of pursuing a course at SSPU are many. If you are planning a career in the most rapidly developing technology industry, look no further and start training with Future-Ready Skills Training today!
Every dream deserves to be nurtured and every young professional deserves a chance to embrace success and golden opportunities to enhance their life. SSPU has dedicated its expertise to imparting better education to encourage the students to pursue the path to success.
Each part of the program is well-thought and is planned to ensure that every individual is ready and prepared to make a mark in the corporate world. Constant training by industrial experts is organized to deliver holistic development.
For more details visit the website: https://fst.sspu.ac.in/