Blockchain set to converge with other trends in 2018

One year ago, the blockchain industry was transitioning from underground tech favourite to mainstream solution of the future. As the months passed, blockchain technology fulfilled many expectations, making it a banner year for the emerging database platform. On the one hand, many people were still confused by the general nature of “blockchain”; on the other hand, the very fact that many people in a wide range of business roles have even heard of blockchain demonstrated just how far it had come.

But 2017 was more than just blockchain becoming a buzzword for the IT industry. The blockchain industry made a significant number of real-world strides forward during the last calendar year. Consider the following notable milestones:

Voting: In Estonia, blockchain software was tested as an immutable and unhackable voting platform. While the trial run wasn't ready for real results yet, it demonstrated the trust a national government has in the technology's capabilities.

Confused by all things blockchain? We’ve got you covered: Blockchain For Dummies: What you really need to know

Investing: Initial Coin Offerings (ICOs) became a significant investment option in 2017. Using the Ethereum blockchain as its foundation, ICOs allow investors around the world to buy digital coins in a similar way as securities are traded. The difference? Investments are liquid nearly instantaneously – making it a quick turnaround for both fundraisers and investors.

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Tiana Laurence

Tiana Laurence is a co-founder of Factom and author of Blockchain for Dummies

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