The Future of Blockchain Technology: 3 Trends Shaping the Future of Blockchain

In October, employment website Glassdoor released a report looking at job growth in the Bitcoin and blockchain industries. According to the report, over the past year, companies have increased investment in hiring for positions related to Bitcoin and blockchain.

The report indicates that in August there were approximately 1,775 blockchain-related job openings in the U.S. That represents a 300 percent increase over the same period last year.

According to the report, interest in blockchain technology has grown rapidly over the last year. What was once viewed as a niche market has now become a financial market worth hundreds of millions of dollars.

And the Glassdoor report indicates blockchain technology isn’t going anywhere. The most common blockchain related job openings are for software engineers which account for 19 percent of the listings. According to Glassdoor, this indicates, employers are looking for talent that can continue to develop this technology and expand its applications.

Blockchain became popular as the technology behind cryptocurrency Bitcoin, but the innovation has been expanding to various sectors and in the future, it’s clear it will play a role in a variety of industries. Here are three areas blockchain is growing in popularity.

Smartphones

In May, smart device manufacturer HTC announced they were developing a new smartphone based on blockchain technology. Named the Exodus 1, the device is set to be released in December. The phone’s main selling point is that it will allow users to keep track of their cryptocurrency investments in coins like Bitcoin and Ethereum, but developers say this feature is just the beginning of what blockchain functionality will offer users.

Ultimately, developers say the goal is to give users control over their own data and digital property. Blockchain technology is advertised as being more secure than other storage system. By using a decentralized system, data stored on blockchain-backed phones is likely to be more secure as a result.

Gaming

The gaming industry is a good fit for blockchain technology because many games feature some kind of marketplace. Users utilize these marketplaces to exchange in-game goods and currencies and these transactions can sometimes translate to real world value when players make trades for currency offline. Blockchain promises to give users more control over their in-game valuables and could allow users to make transactions across multiple platforms.

In October, blockchain platform Waves announced it has raised $2 million to build games on it’s platform.The company is working with developers to provide tools that will allow them to to integrate blockchain into their games, giving users the potential to turn in game tokens into real currency.

Internet

Many have become increasingly worried about the way their data is collected and used on the internet. In the area of advertising in particular, internet users often express frustration that their data is being used to market products and services to them in the form of ads on websites.

Earlier this year, Brave Software Inc. released a free and open-source web browser built with blockchain technology. The browser gives users the ability to block ads and website trackers when surfing online. While the browser is still in its infancy, it shows the potential of blockchain technology to let users control what they see on the internet.

These examples illustrate just a few of the ways blockchain technology can be integrated into various industries.

Treehouse Technology Group is working with companies to help them harness the power of blockchain. We’ve worked with several groups to integrate this innovative technology, increasing efficiency and freeing up valuable resources. If you’re interested in transforming your operation and want to work with a company with a successful track record, contact TTG for a free consultation. We specialize in helping companies develop robust solutions best suited for their specific business needs.

 

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