Experts in blockchain technology are pretty much in agreement: Once a niche for crypto-experts and coding buffs, now big traditional institutions and even central banks are looking to blockchain as they build the foundations for the next generation of financial services.
Analysts say organizations that embrace blockchain now will have a competitive edge later. If companies move fast and adopt blockchain, they can innovate quickly, meet customer demands and enjoy a significant return on their investment.
Learning how to implement blockchain requires a clear understanding of the technology’s decentralized ecosystem.
There are many different public blockchains to choose from, including Bitcoin, for its value as digital gold, and Ethereum, which has more developers than all of the others.
In the same way you can always find a better PC and mobile operating system than the ones you are using now, and better networking technologies than the internet, there will always be better blockchains, depending on the measurement criteria.
Experts believe it’s important to stop looking for the “best” one. None of that matters, because in this scenario, best is relative. The systems with the most developers and users always win. If you want to build practical applications that create value, do it on the network that has the most buyers, sellers and investors.
Also, similar to how companies have business processes, blockchains have tokens and smart contracts. The most successful blockchain implementations are where companies translate their legacy vision into blockchain-native concepts.
This means that instead of moving documents back and forth, they shift their thinking to smart contracts and tokenization.
Want to learn more? Tonex offers a 5-day Blockchain Mini MBA program that addresses the blockchain technology, business, leaderships, tools, and concepts that can help effectively manage development and provide a guidance to improve business decisions.
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