{"id":19531,"date":"2017-01-12T10:44:39","date_gmt":"2017-01-12T18:44:39","guid":{"rendered":"https:\/\/www.altoros.com\/blog\/?p=19531"},"modified":"2021-12-13T22:33:26","modified_gmt":"2021-12-13T19:33:26","slug":"2016-2017-trends-blockchain-proliferation","status":"publish","type":"post","link":"https:\/\/www.altoros.com\/blog\/2016-2017-trends-blockchain-proliferation\/","title":{"rendered":"2016\u20132017 Trends: Blockchain Proliferation"},"content":{"rendered":"<p><center><small>This post is a part of the series that reviews the <b>Top 10 trends in enterprise IT<\/b> for 2016\u20132017:<\/small><\/p>\n<p><small><a href=\"https:\/\/www.altoros.com\/blog\/the-year-2016-in-review-top-10-issues-of-enterprise-it\/\">All Trends<\/a> | <a href=\"https:\/\/www.altoros.com\/blog\/2016-in-review-a-varietal-cloud-and-the-paas-revival\/\">A &#8220;Varietal Cloud&#8221; and PaaS<\/a> | <a href=\"https:\/\/www.altoros.com\/blog\/2016-in-review-neo-ai-and-neo-luddism\/\">Neo-AI and Neo-Luddism<\/a> | Blockchain | <a href=\"https:\/\/www.altoros.com\/blog\/2016-2017-trends-smart-cities\/\">Smart Cities<\/a> | <a href=\"https:\/\/www.altoros.com\/blog\/2016-2017-trends-industry-4-0-or-industrie-4-0\/\">Industry 4.0<\/a> | <a href=\"https:\/\/www.altoros.com\/blog\/2016-2017-trends-the-open-source-ecosystem-is-universal\/\">Open Source<\/a><\/small><\/center><br \/>\n&nbsp;<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.altoros.com\/blog\/2016-2017-trends-blockchain-proliferation\/#Trend_6_Blockchain_proliferation\" >Trend #6: Blockchain proliferation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.altoros.com\/blog\/2016-2017-trends-blockchain-proliferation\/#Related_reading\" >Related reading<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Trend_6_Blockchain_proliferation\"><\/span>Trend #6: Blockchain proliferation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>You have to be a blockhead if you didn&#8217;t pay attention to blockchain in 2016, doubly so if you continue to ignore it this year. Blockchains are proliferating like mad, with proponents of each new schema proclaiming theirs presents the best path to follow.<\/p>\n<p>I understand why you may have ignored it, because the topic can seem inscrutable. Still, it&#8217;s time for all eyes to be open and focused at least some of the time on blockchain, which may revolutionize the geopolitical nature of the world forever, disrupt, and upend massive swaths of the world&#8217;s economic sectors, usher in a golden new era business and government transparency, or do absolutely nothing.<\/p>\n<p>In 30 years of covering technology, I&#8217;ve not seen a technology so fraught with mystery and dichotomized opinions. The mystery comes from blockchain&#8217;s roots in the Bitcoin cryptocurrency, something that continues to defy conventional analysis. Is it really a key part of the future of finance? Can it be corralled by governments? Will it continue to spawn other cryptocurrencies? Sharp disagreements flow from these questions.<\/p>\n<p><center><small><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/01\/2016-2017-year-end-trends-financial-services-blockchain-bitcoin.jpg\"><img decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/01\/2016-2017-year-end-trends-financial-services-blockchain-bitcoin.jpg\" alt=\"2016 2017 year end trends financial services blockchain bitcoin\" width=\"550\" class=\"aligncenter size-full wp-image-19544\" \/><\/a>Source: CB Insights<\/small><\/center><\/p>\n<p>However, the other side of the coin, so to speak, involves the type of blockchain found with <a href=\"https:\/\/www.hyperledger.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">the Hyperledger Project<\/a>. We&#8217;ve <a href=\"https:\/\/www.altoros.com\/blog\/tag\/hyperledger\/\" target=\"_blank\" rel=\"noopener noreferrer\">written a lot<\/a> about it over the past several months.<\/p>\n<p>Blockchains like these can be described as public, anonymous (or \u201cpermissionless\u201d), with a \u201cproof of work\u201d required to validate transactions. The proof in this case is solving a cryptographic hash challenge, something that now takes quadrillions of tries (which seems to approach the odds of a <a href=\"https:\/\/en.wikipedia.org\/wiki\/Quantum_fluctuation\" target=\"_blank\" rel=\"noopener noreferrer\">quantum fluctuation<\/a> allowing me to walk through a wall). <\/p>\n<p>&nbsp;<br \/>\n<b>Heading to more stable ground<\/b><\/p>\n<p>The ground seems intuitively more stable in the world of private, permissioned blockchains. Transactions are validated by trusted members of the network through <a href=\"https:\/\/cloud.ibm.com\/docs\/services\/blockchain\/ibmblockchain_overview.html\" target=\"_blank\" rel=\"noopener noreferrer\">less onerous processes<\/a> (with no cryptocurrency involved).<\/p>\n<p>There are <a href=\"https:\/\/en.wikipedia.org\/wiki\/Blockchain_(database)#Applications_2\" target=\"_blank\" rel=\"noopener noreferrer\">several blockchain<\/a> projects underway in the world at the moment.<\/p>\n<p>Despite this proliferation within this &#8220;safer&#8221; realm, I&#8217;m often struck by the notion that the seemingly safe move can actually be the one with the most risk. The concern with private blockchains is they may be solutions in search of problems. Even blockchain enthusiasts of a <a href=\"https:\/\/www.altoros.com\/blog\/when-is-a-private-blockchain-a-good-idea-and-when-is-it-not\/\">recent panel<\/a> at a Hyperledger meetup in New York picked up on this thought.<\/p>\n<p>It is safe to say that there is progress with private blockchain. Members of the panel referenced above also addressed the issue of how the Proofs of Concept (PoCs) of 2016 should evolve into tangible projects in 2017. Some momentum can be expected as Hyperledger Fabric moves into its formal v1.0 release, <a href=\"https:\/\/www.altoros.com\/blog\/hyperledger-approaches-version-1-0-with-better-scalability-and-security\/\" target=\"_blank\" rel=\"noopener noreferrer\">a topic discussed<\/a> by leading proponent <a href=\"https:\/\/www.linkedin.com\/in\/arnaud-le-hors-4280221\" target=\"_blank\" rel=\"noopener noreferrer\">Arnaud Le Hors<\/a> of IBM at another recent blockchain event.<\/p>\n<p><center><small><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/01\/Hyperledger-Fabric-Architecture.png\"><img decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/01\/Hyperledger-Fabric-Architecture.png\" alt=\"Hyperledger Fabric Architecture\" width=\"640\" class=\"aligncenter size-full wp-image-19596\" \/><\/a>Source: IBM Research, Zurich<\/small><\/center><br \/>\n&nbsp;<br \/>\n<strong>Does blockchain change everything?<\/strong><\/p>\n<p>It&#8217;s also easy enough to find \u201c<a href=\"https:\/\/www.mckinsey.com\/industries\/technology-media-and-telecommunications\/our-insights\/how-blockchains-could-change-the-world\" target=\"_blank\" rel=\"noopener noreferrer\">blockchain changes everything<\/a>\u201d articles and tweets. The intent of such articles seems to try to scare people and their companies into going down a blockchain path, with or without a clear purpose and vision. Doing so will lead to many unnecessary failures and hurt the cause of useful blockchain initiatives, whatever they may be.<\/p>\n<p>So, perhaps, my fears are unfounded. For example, <a href=\"http:\/\/graphics.eiu.com\/files\/ad_pdfs\/eiuForesight2020_WP.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">a review<\/a> by the Economist Intelligence Unit found that <strong>10%<\/strong> of enterprise executives expect to use blockchain by <strong>2020<\/strong>, ranking it last among eight technologies surveyed. Use of the word \u201cBitcoin\u201d in this particular survey no doubt dampened enthusiasm among this crowd. In any case, one must ask, is the glass 1\/10th full or 9\/10ths empty?<\/p>\n<p><center><small><a href=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/01\/2016-2017-year-end-trends-blockchain-impact.jpg\"><img decoding=\"async\" src=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/01\/2016-2017-year-end-trends-blockchain-impact.jpg\" alt=\"2016 2017 year end trends blockchain impact\" width=\"640\" class=\"aligncenter size-full wp-image-19546\" \/><\/a>Source: Economic Intelligence Unit<\/small><\/center><\/p>\n<p>There are financial services groups, including the <a href=\"https:\/\/r3cev.com\" target=\"_blank\" rel=\"noopener noreferrer\">R3CEV project<\/a>, experimenting with private blockchains.<\/p>\n<p>Beyond that, what can we expect in the short term? My opinion is that there are a few great potential uses of private blockchain:<\/p>\n<ul>\n<li style=\"margin-bottom: 10px;\">To create <strong>virtualized markets<\/strong> for agricultural goods in developing nations. One notable effort in this field has been in progress for the past few years, led by MIT Resident Entrepreneur <a href=\"https:\/\/www.linkedin.com\/in\/julius-akinyemi-a41a7512\" target=\"_blank\" rel=\"noopener noreferrer\">Julius Akinyemi<\/a>. One can see the potential of this type of project throughout the developing world.<\/li>\n<li style=\"margin-bottom: 10px;\">To create <strong>electricity microgrids<\/strong> in all parts of the world. There is a well-known <a href=\"http:\/\/brooklynmicrogrid.com\" target=\"_blank\" rel=\"noopener noreferrer\">effort<\/a> in Brooklyn, New York. One can also imagine this to be a great idea for villages in the developing world, as well as urban grids like Brooklyn throughout the world. Altoros <a href=\"https:\/\/www.coindesk.com\/markets\/2016\/05\/01\/blockchain-energy-project-wins-consensus-2016-hackathon\/\" target=\"_blank\" rel=\"noopener noreferrer\">won a hackathon<\/a> in this field in May.<\/li>\n<li style=\"margin-bottom: 10px;\">To create <strong>rental networks<\/strong> for medium to heavy tools and equipment. This sort of network could feature large numbers of one-time and other infrequent customers, so is not a closed system of a small number of institutions. However, registration would be required, reputation could be built in, and they would function in the manner of eBay.<\/li>\n<\/ul>\n<p>&nbsp;<br \/>\n<b>The world is round<\/b><\/p>\n<p>Finally, it&#8217;s worth noting the international collaboration that&#8217;s part of the blockchain picture. Three startups from Japan, for example, are sending people to Silicon Valley and New York to create \u201c<a href=\"https:\/\/www.coindesk.com\/markets\/2017\/01\/11\/japanese-government-sends-blockchain-startups-abroad-for-innovation-program\/\" target=\"_blank\" rel=\"noopener noreferrer\">a bridge to innovation<\/a>.\u201d One of them, Soramitsu, is behind <a href=\"https:\/\/www.altoros.com\/blog\/the-iroha-project-to-bring-mobility-to-blockchain-with-simple-apis\/\" target=\"_blank\" rel=\"noopener noreferrer\">the Iroha mobile blockchain<\/a> incubation that&#8217;s part of the Hyperledger Project. <\/p>\n<p>The Hyperledger Project has a <a href=\"https:\/\/twitter.com\/hyperledger\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter account<\/a>, as well as <a href=\"https:\/\/twitter.com\/ethereum\" target=\"_blank\" rel=\"noopener noreferrer\">@Ethereum<\/a>, providing numerous useful updates. Altoros is also following things through the <a href=\"https:\/\/twitter.com\/ledgerbeat\" target=\"_blank\" rel=\"noopener noreferrer\">@LedgerBeat<\/a> account, which has a large Hyperledger component but follows other blockchain developments, too. All of these can lead you to many other useful accounts if you&#8217;re interested in divining new insights about the mysteries of this faith.<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Related_reading\"><\/span>Related reading<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/the-year-2016-in-review-top-10-issues-of-enterprise-it\/\">2016\u20132017 Trends: Top 10 Issues of Enterprise IT<\/a><\/li>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/2016-in-review-a-varietal-cloud-and-the-paas-revival\/\">2016\u20132017 Trends: A \u201cVarietal\u201d Cloud and the PaaS Revival<\/a><\/li>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/2016-in-review-neo-ai-and-neo-luddism\/\">2016\u20132017 Trends: Neo-AI and Neo-Luddism<\/a><\/li>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/2016-2017-trends-smart-cities\/\">2016\u20132017 Trends: Smart Cities<\/a><\/li>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/2016-2017-trends-industry-4-0-or-industrie-4-0\/\">2016\u20132017 Trends: Industry 4.0<\/a><\/li>\n<li><a href=\"https:\/\/www.altoros.com\/blog\/2016-2017-trends-the-open-source-ecosystem-is-universal\/\">2016-2017 Trends: The Open-Source Ecosystem Is Universal<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>This post is a part of the series that reviews the Top 10 trends in enterprise IT for 2016\u20132017:<\/p>\n<p>All Trends | A &#8220;Varietal Cloud&#8221; and PaaS | Neo-AI and Neo-Luddism | Blockchain | Smart Cities | Industry 4.0 | Open Source<br \/>\n&nbsp;<\/p>\n<p>Trend #6: Blockchain proliferation<\/p>\n<p>You have to be a blockhead if [&#8230;]<\/p>\n","protected":false},"author":9,"featured_media":19633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[7],"tags":[672,753],"class_list":["post-19531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-opinion","tag-blockchain","tag-hyperledger"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>2016\u20132017 Trends: Blockchain Proliferation | Altoros<\/title>\n<meta name=\"description\" content=\"Though in the limelight in 2016, blockchain is still a dark mystery. With private blockchain in particular, the question is whether it really can &quot;change everything.&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.altoros.com\/blog\/2016-2017-trends-blockchain-proliferation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2016\u20132017 Trends: Blockchain Proliferation | Altoros\" \/>\n<meta property=\"og:description\" content=\"This post is a part of the series that reviews the Top 10 trends in enterprise IT for 2016\u20132017: All Trends | A &#8220;Varietal Cloud&#8221; and PaaS | Neo-AI and Neo-Luddism | Blockchain | Smart Cities | Industry 4.0 | Open Source &nbsp; Trend #6: Blockchain proliferation You have to be a blockhead if [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.altoros.com\/blog\/2016-2017-trends-blockchain-proliferation\/\" \/>\n<meta property=\"og:site_name\" content=\"Altoros\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-12T18:44:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-13T19:33:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.altoros.com\/blog\/wp-content\/uploads\/2017\/01\/2016-2017-year-end-trends-blockchain-proliferation-v2.gif\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/gif\" \/>\n<meta name=\"author\" content=\"Roger Strukhoff\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Roger Strukhoff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script 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