Developers cannot shoulder the future of blockchain technology alone

Baozou Comment : Blockchain technology is slowly penetrating every field, opening doors to the future for us. However, while opening the door to the future, we are also gradually realizing that facing such a powerful emerging technology, the power of one or two people is very weak. In order to realize this beautiful future vision, participants from all industries need to discuss and cooperate together, master different technologies, and understand relevant laws and regulations, so as to smoothly realize this major transition.

Translation: Annie_Xu

The world is slowly embracing distributed ledger technology. The potential benefits of blockchain technology are gaining attention from various industries and governments. Stock exchanges and trading platforms are beginning to deploy blockchain solutions, asset-backed crypto tokens are being innovated, and governments are making related announcements, each of which shows the rise of crypto token technology.

Blockchain technology has attracted attention for two reasons: transparency and accessibility, as well as automation of tasks based on smart contracts. Like other promising technologies, blockchain has its own flaws. Cryptocurrency technology is a software, so its performance depends on and is limited by its developers. Blockchain technology is just emerging, and the number of experts in the field is small.

As blockchain continues to grow, the developer community will eventually grow as well. However, blockchain technology applications span many fields, and each industry has its own unique needs. In order to develop ideal blockchain solutions, developers need to understand cryptocurrency technology and the target industries that the technology serves. Mistakes made by developers can be very costly to companies or even entire industries.

Smart contracts can automate blockchain programs and execute automatically when pre-set conditions are met. These smart contracts may soon replace legal contracts, documents, and existing processes. In order to ensure that the implementation of smart contracts complies with the existing legal framework, developers need to understand the applicable laws and regulations.

The blockchain field continues to form a diversified ecosystem, and product development and execution require participants in the industry to master multiple skills. Our future lies in blockchain technology, and this future is farther away than we think.