As per the recent study of Accenture, banks and financial institutions can save more than $8 billion on their transactions every year if they use blockchain. Not only financial institutions, nowadays all types of industries consider the importance of Blockchain and want to implement it in their business operations to make their payment more secure and fast.  While most of the organizations are adopting this latest technology for a plethora of scenarios, is it right for custom mobile application development? Let’s figure out the answer of this question through this blog but before that let’s look at some trending stats of blockchain: Worldwide spending on blockchain solutions from 2017 to 2023 Now, here are some more stats of blockchain worth noting By the end of the year 2024, it’s expected that companies of all sizes will spend approximately $20 billion every year for blockchain technical services. Approximately 90% of the European and U.S. banks had started exploring the potential of blockchain by the year 2018. About 74% of tech-savvy executive team members say that they believe there is huge business potential in the blockchain technology. 23% of businesses worldwide expect to invest approximately $5 million to $10 million in the blockchain during the year 2020. Financial industries alone have spent approximately $552 million on the blockchain-powered projects. More than 20 countries have adopted or at least researched the concept of a national cryptocurrency. All the above stats indicate that blockchain is on boom these days. But is it good for

It won’t be wrong if I say that block-chain technology has evolved since the introduction of Bit-coins (the first electronic cash system) in the year 2008.  And as the years are passing by; more and more businesses are adopting this practice. To disrupt and transform their business model; global supply chains, financial services, health-care, government and every other industry is adopting it.  The use of block-chain has advanced the technology, and has accelerated unbelievably.  It not only solves the financial purposes, but it also tends to grow in uncountable facets of human society. To prove this point here are some stats that clearly shows the adoption of block-chain, and the revenue that it has been producing. The size of the market of blockchain was $400 million in 2017, and right now it is more than$500 million, and is expected to grow as the years would pass. Investors have made an investment of $1 billion in this technology within a period of 5 years in Venture Capital investment. The financial service industry has spent $1.7 billion on the technology. Thus, blockchain has to be exciting new alternative of the traditional currency, centralized banking and many other transaction methods. The fact that it makes a business potentially appealing and efficient is enough for the organizations to adopt it.  So, now we are left with the question – what is driving this exponential growth? What are the factors that are affecting the market? Is it really helpful for my business? How exactly can

Blockchain and BitCoin have come to be known as the only duet that has got the limelight because it all started with the use of Blockchain wallet being used for sending and receiving of BitCoins. It was years ago that the trend became high and then, Blockchain Solutions gained popularity. It continued to be used in other fields as well but it was not able to get more attention in other areas as was expected out of it. We can say that when the word BitCoin is thought of, or when Blockchain is thought of, we are only able to think of these two words only. We are definitely sure of any other word that would fit so perfectly with each other. BitCoin gave assurance to the use of Blockchain digital technology. If there is anything that most of the people can recall is that the decentralisation of the monetary system was promised with the coming of BitCoin. It couldn’t happen because the government authorities around the world saw threats and dangers lurking in the quagmire of this digital cryptocurrency. There is not just BitCoin but other cryptocurrencies as well. But, the most popular digital cryptocurrency with which the Blockchain solutions were able to fit in perfectly was BitCoin without any doubts. This technology was thought to become successful with other things like in ecommerce websites as well as in healthcare and education field. We are just witnessing the startup of the ideas in these fields as well. But, there

Bitcoin was based on Blockchain technology and was first introduced in 2009. After that we have seen many other cryptocurrencies coming into the market and with that the Blockchain technology has been witnessing kind of revolution in the digital currencies market. With the passage of time, Blockchain is evolving more and providing new incentives and opportunities for the financial sector and corporate world. As per a research report, about 2/3rd of the companies would need services of a Blockchain Development Company as they would be integrating the Blockchain technology by this year end. The Distributed Ledger Technology (DLT) is providing the power and impulse to so many industries other than the finance. Therefore, the tech enterprises have already started working to upgrade this technology even more. The last few years have been highly successful in this area and we have seen many big companies like Microsoft, IBM and Oracle launching the cloud-based Blockchain services and the upsurge in the number of Blockchain-based applications pointing towards their better prospects in future. There is no doubt that we have being seeing faster evolution of blockchain in past few years. From a technological perspective, it has pushed new boundaries but it still has lots of steam left. When we compare it to other technologies, it has a lot to offer. That’s why it is important for you to watch out the top blockchain technology trends which will be dominant in coming years and I am going to discuss about those now in this

Blockchain is comparatively a new concept in the Information Technology sphere. Many IT companies are now offering Blockchain Solutions or cryptocurrency solutions. Cryptocurrency is the most widely used word around the world as more and more people are aware of this term for sure. To be more precise, it is actually the BitCoin term which is gaining even more popularity as compared to all other currencies involved within the sphere of cryptocurrencies. Cryptocurrencies: A decentralised way to invest money Blockchain Solutions, without any doubt is a way to decentralise as well as make the system free from corruption as far as economic and monetary transactions are concerned. Cryptocurrencies are surely a leader in the market where this digitally programmed money can be exchanged just like currency notes. The only difference is the way how this money is exchanged in comparison with the regular dollar bills or currency notes. It is transferred digitally or virtually in other words, it is encrypted with a special coding or encryption in an exclusive language called cryptography. It creates a chain of blocks, thus coming out with a name of “Blockchain” and any feature or functionality being integrated into the website or app. Blockchain is a certain code that is completely readable by public. Satoshi Nakamoto is the genius brain behind the Blockchain and cryptocurrencies such as Bitcoin. Transformation of new era with Blockchain Solutions Blockchain solutions are helping millions of IT professionals across the world to create some really dynamic solutions like websites and

Blockchain technology has become a huge success in recent years especially in 2017. As per Google, Blockchain and Bitcoin are two of the most-searched keywords on Google. Blockchain is also one of the top 5 developer trends of 2018. The huge popularity of Cyrptocurrency, bitcoin and ICOs (Initial Coin Offering) also promoting the discussion on blockchain and making everyone aware about this technology. Now more and more organizations are looking to get advantage from blockchain’s extreme popularity. A study says about 58% of the large enterprises are interested in building some kind of blockchain application. Whether we talk about mobile app developers or web application developers or software developers, they all can enter the world of blockchain technology easily. Actually it is a good news for any kind of software developer as Blockchain is all about software. Blockchain is all about how to store, share and maintain data transactions securely.   In this article, I will elaborate on how this popularity of blockchain is presenting a huge opportunity for software developers.   What is Blockchain? The blockchain term was first used in 1991 as “a cryptographically secured chain of blocks” which means a chain of blocks which are linked and cryptographically secured. Each of the block is a combination of three items i.e. A hash pointer to the previous block, a timestamp and the transaction data. Therefore basically by design, blockchains are very secure and not easy to modify. In Wikipedia, Blockchain is defined as below:- “Blockchain is a technology