Page 4 - AeM_Sept_2018

RESEARCH, ANALYSIS & TRENDS

Blockchain technology – trendsetter

and transformer

The trending topic in IT, Blockchain, keeps the tech seems to be on the rise, creating at the same time
industry currently on its toes, as the distributed, other problems. Since there are only a maximum
decentralized database of blocks is considered number of currency units, buyers store the acquired
impossible to get hacked: Many different servers verify bitcoins, resulting in extreme fluctuations in the
algorithms for storing and uploading information, cryptocurrency market. The dream of a currency free
besides allowing all users of the network to see all the from inflation has therefore ended up with high losses
histories of changes or adjustments to a file or a block. for investors. Instead, the advantage of blockchain
Due to the security of decentralized storage and the technology to be stored decentralized turned out to be
elimination of third-party verification of transactions, a major drawback. At this point, there is no central bank
processes can be automated. available to stabilize the currency.

Although blockchain technology is already triggering One promising use of the technology represents the
changes in various markets and industries, it is still in its storage and transfer of personal data, such as smart
infancy. However, changing needs of consumers land registers, digital weddings and electronic voting.
require urgent action not to be left behind. Whoever is Ultimately, the idea of the new technology has the
waiting to establish the Blockchain to optimize potential to shorten bureaucratic paths, provide
processes will lose his competitiveness. Technologies manipulation security and create unchangeable filing
are already available today that digitize sales and methods. So far, however, this is still a thing of the
ensure high security and transparency in the execution future, due to the lack of interfaces and the high
of contracts. computational power necessary to feed information into
the blockchain database.
Trendsetter
Network without networking?
Without question, the blockchain stands for
technological progress and signpost for the future, In addition to cryptocurrency as a useful piece of
because the unchangeable database promises high blockchain, smart contracts are gaining awareness by
security and automation options. Primarily made famous promising compliance and automation of legally binding
by the crypto-currency Bitcoin, the new technology processes. Human interface to verify and execute
4 September 2018 - Marketing Analytics, Automation & Attribution