Blockchain seems to be in the news more often than not these days, whether over bitcoin and other cryptocurrencies, or the burgeoning technology sector using it as a springboard. Such ventures promise “game-changing” solutions to challenges in a variety of industries including financial technology, supply chain logistics as with IBM’s recent initiatives, media, travel bookings and rentals to name a few.
The merits of technology was even up for discussion at the 2018 World Economic Forum (WEF) in Davos, Switzerland, by the movers and shakers up in the alps. And, new companies are emerging daily in the space.
Until now, however, few blockchain-based startups have made a real splash, and the whole industry appears to be in a state of unrealized potential. There are certainly lofty ideas floating around amidst a good deal of hype – if not a distinct amount of over-hype. And, real applications are still few and far between, as are the ability to monetize ventures – aside from ventures raising huge sums through crowdfunded and Initial Coin Offering (ICO) initiatives.
One of the largest sectors where blockchain and cryptocurrencies have made a splash is in fintech. While much has been made about how disruptive blockchain can be for the industry, fintech has already staked its claim in innovation, and continues to show that while this emerging technology can help, it’s certainly not required.