Where will blockchain enterprise development go in 2017?

Blockchain can bring about a revolution. Blockchain has great potential to overturn the entire economic structure and bring it into line with the pace of the Internet era. The reason why this revolution has not happened yet is that we are still at the stage of discussing the concept and application of blockchain.

I have been to many conferences and events in the past year. I find that the focus is still on tokens, currencies, miners, etc. I just want to say that such topics are too irrelevant. Blockchain is not an isolated system, its impact is far-reaching. We are just beginning to discuss how blockchain architecture can be deployed in business areas outside of banking and how blockchain can lead things to a better direction.

To better understand the infrastructure of blockchain in 2017, we must explore this issue from several angles.

banking

Banks around the world have begun to build sandboxes to test how blockchain technology can be deployed in their core businesses. If you think that the banking industry is a step behind and far behind in blockchain innovation research, you are wrong. In fact, banks have started testing blockchain technology the earliest, but it will take a long time for specific applications to be implemented.

While the sandbox mechanism ensures that internal teams can focus on research, there are still many barriers that need to be removed in order to better test and study the technology.

Most blockchain enthusiasts and businesses are willing and even eager to work with banks, but I think that ultimately, banks will build their own in-house expert teams because that is their best option to remain competitive in the market.

Business

It is said that the financial and banking sectors will benefit from blockchain technology. But in fact, the business sector is full of opportunities. Compared with the financial industry, the business sector has less supervision and is more likely to adopt new technologies.

Ask yourself: Do users really care if you use blockchain to record their information? Usually the answer to this question is no. They just want your application to be inaccessible. This is the real business solution.

For blockchain frameworks to truly have a global impact, application vendors that provide software services to enterprises must adopt this technology.

Many companies are trying to build commercial applications based on blockchain, but they lack experience, which has almost become a market trend - running blockchain is too difficult. Many blockchain companies are raising funds, believing that their solutions or tools are better than front-end performance because users can see the products directly on the blockchain and profit from them. But the question is, do these blockchain companies really understand the specific business operations and the entire product deployment process?

Let's take another specific example: How can software developed in North America be deployed in other parts of the world (such as Asia)?

Transforming public capital markets

Here’s a quick example: WeChat is an all-in-one social media platform that’s very popular in Asia. It has all the features of Twitter, Facebook, Google+, Instagram, Skype, Google Wallet, and Apple Pay.

Likewise, blockchain systems cannot function properly without developers who have a full understanding of the entire ecosystem. Just like Blythe Masters and her Digital Asset Holdings. They are changing public capital markets, not just one part of the market, but every cog in the entire capital markets machine. To achieve this goal and ensure smooth product deployment, the group must recruit experts in various fields. Their partnerships with Nasdaq and the ASX are the best proof of this. Other blockchain providers have not been able to reach this level.

In 2017, any blockchain company that attempts to enter the commercial application field will not survive if it remains at the conceptual stage. We will see more and more companies like Digital Asset Group. In 2017, the far-reaching impact of blockchain will involve insurance, real estate, mining, oil, private companies, and even governments. Governments will follow the footsteps of banks and also establish sandboxes. Various blockchain companies will also establish cooperation with giants in their respective fields.

Growth

In short, the blockchain development team is gradually growing. Investors have long been aware of this. Mobile apps produced by blockchain companies can conduct P2P transfers, and the transaction speed will even exceed that of traditional companies; blockchain companies will receive a large amount of financing and develop more application services...

However, many blockchain companies' research is only superficial. They have no practical knowledge and do not understand product and business operations.

Therefore, real investors should focus on companies that have rich knowledge, professional talents, and understand business processes. Of course, the premise is that they can accept blockchain technology.