A comprehensive outlook at blockchain for future

sahar78 (72)in PussFi 🐈 • 6 days ago

Assalamualaikum

Greetings to you all!

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Blockchain technology is coming to a long way starting from its Inception so when I move to its future outlook then this is very promising. So when I go into depth of this topic then I can easily abstract that there would be significant level of advancements regarding scale ability usage and interpreability in blockchain technology.

As we move in future then blockchain would be expected for transforming multiple industries like finance,health industry supply chain management and voting system etc. Blockchain have its decentralized nature as well as immutable which will give surety of safety,transparency and efficiency.

In future outlook of blockchain there are multiple areas at which we should focus but major focus should be at development of providing scalable solutions to all blockchain technology.When I talk about current challenges that blocks in network face then first of all one challenge is to process transactions in one second, after that different technologies which are emerging such as sharding,transactions that are off chain per second as well as layer 2 scaling solutions will be useful for advising all these challenges.

There will be one more one of the most important trend which will be about rising of decentralised apps. These apps will provide a way of revolutionising in which we are interactive with internet, we enable peer to peer transactions, decentralized social media and at last market places that are community driven.

Identification verification as well as authentication which are based on blockchain is becoming prevalent continuously which enables user for controlling personal information and identification.there are self sovereign identification solutions also present which are empowering users for managing their digital identification in a secure way.

Blockchain and artificial intelligence intersection will unlock new probability.Blockchain analytics that are AI powered will be used for enhancement of safety, prediction of different vulnerability and optimisation of network efficiency as well as performance.

Regulatory frameworks will be used for evolution for accommodation of blockchain growing presence.there are some of the precise rules regulations guidelines as well as standards that are fostering advancements, innovation, protection of consumers and promotion of mainstream adoption.

With the passage of time and matureing of technology of blockchain, we can expect a more enhanced collaboration in between industries government etc.Different initiatives related to research in this field will be helpful for driving innovation, standardisation, and for best practices at last.

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Regarding social impact blockchain future is holding a most tremendous potential.Global issues which include changing in climate rights of voting and approach or access to finance can be addressed with solutions that are based on blockching technology.

Around 2030 if I predict blockchain technology then it is projected to become a $39.7 billion industry with diverse range of adoption in multiple sectors.we are in Barking at this transforming journey that's why it is most crucial to give priority to most important things including education awareness and responsible development for giving surety of it so that blockchain technology is realised.

First I talk about very start of blockchain technology from the time of its inception.after that I have talked about some of the major challenges in this field that need to be address in future and major areas to focus regarding blockchain.At last I have talked about some of the major social impact of this blockchain technology. Lastly I predicted about advancements that we can expect by the end of or around 2030 year. Hopefully it was an interesting content to read for everyone.....