{"id":22919,"date":"2022-01-07T09:22:06","date_gmt":"2022-01-07T07:22:06","guid":{"rendered":"https:\/\/www.getsmarter.com\/blog\/?p=22919"},"modified":"2025-12-08T14:26:00","modified_gmt":"2025-12-08T12:26:00","slug":"the-future-of-blockchain-technology-in-2022","status":"publish","type":"post","link":"https:\/\/www.getsmarter.com\/blog\/the-future-of-blockchain-technology-in-2022\/","title":{"rendered":"The Future of Blockchain Technology in 2022"},"content":{"rendered":"\n<p>At the end of 2021, the global cryptocurrency market cap reached $3 trillion \u2013 an all-time high.<sup>1<\/sup>&nbsp;Cryptocurrencies like Bitcoin and Ethereum are underpinned by blockchain technology. The adoption of blockchain, and the technology and products it supports, will continue to impact business operations dramatically.<\/p>\n<p>But blockchain technology is much more than a system for securely transferring cryptocurrencies. Outside of finance, it can be used in applications including healthcare, insurance, voting, welfare benefits, gambling, and artist royalties.<sup>2<\/sup> With the technology already impacting business and society on many levels, the global economy is preparing for the blockchain revolution. If \u2018revolution\u2019 sounds dramatic, consider that eight of the world\u2019s 10 largest companies are building an array of products incorporating blockchain.<sup>3<\/sup><\/p>\n<p>Any industry or organization involved in the recording and overseeing of transactions of any kind stands to benefit from moving its operations onto a blockchain-based platform. Take a look at the following predictions of how blockchain technology will influence various sectors of the global landscape.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1-how-blockchain-technology-can-disrupt-financial-services\">1) How blockchain technology can disrupt financial services<\/h2>\n\n\n\n<p>One area predicted to continue evolving with blockchain technology is cross-border payments. These recent developments are leading transformation on this front:<\/p>\n<p><strong>IBM\u2019s Blockchain World Wire<\/strong> \u2013 This blockchain-enabled conduit used the Stellar protocol and allowed for banks to clear and settle cross-border payments almost immediately. The World Wire API integrated into banks\u2019 payment systems, with World Wire then converting the digital asset into currency, completing the transaction. In light of the COVID-19 pandemic, IBM ceased running the network and made the code open source, inviting the development community to build on their learnings.<sup>4<\/sup><\/p>\n<p><strong>Paystack<\/strong> \u2013 Paystack creates payment infrastructures and connects payment processors with each other with the goal of making it quicker and easier to facilitate online payments. In October 2020, financial services company Stripe acquired Paystack for $200 million. The service expanded to South Africa in May 2021, by which point it was powering 50 percent of online payments in Nigeria, where it was founded.<sup>5<\/sup> And in September, it became the first Nigerian payment gateway to become an Apple Pay partner, opening it up to 380 million users across 60 countries.<sup>6<\/sup><\/p>\n<p><strong>Ripple and Pyypl<\/strong> \u2013 San Francisco-based software vendor Ripple has been specializing in global real-time payments, based on blockchain technology, since 2014. They recently partnered with Dubai-based technology company Pyypl, which has created a blockchain-based platform offering non-bank financial services via smartphone. Because the platform doesn\u2019t require the pre-funding needed in traditional cross-border payments, where additional funds must be kept in the user\u2019s bank account, this should help increase the liquidity of companies that use it.<sup>7<\/sup><\/p>\n<p><strong>AZA Finance<\/strong> \u2013 This company uses blockchain technology for small businesses to send and collect payments to and from Africa. By converting the relevant fiat currencies into stablecoins rather than U.S. dollars when trading, AZA says it can reduce reliance on a dollar-dominated system, trade during banking holidays, and increase trade efficiency.<sup>8<\/sup><\/p>\n<p>Blockchain technology has applications outside of payments too. Below are additional examples of fintech innovations using blockchain.<\/p>\n<p><strong>Securrency<\/strong> \u2013 This is a trading platform for cryptocurrencies and any kind of asset. It is exchanged through Securrency tokens, which allows cryptos to be traded outside of their dedicated exchanges.<sup>9<\/sup><\/p>\n<p><strong>ABRA<\/strong> \u2013 This global app and cryptocurrency wallet allows you to buy, invest, and store up to 100 cryptocurrencies. The company recently raised $55 million in funding to help develop a comprehensive product range to help people manage their money.<sup>10<\/sup><\/p>\n<p><strong>Numerai<\/strong> \u2013 This company aims to build an open-source hedge fund by sending encrypted datasets to thousands of decentralized quantitative analysts, who build predictive models. The best are rewarded with Numerai\u2019s token and used to create a trading meta-model.<sup>11<\/sup><\/p>\n<p><strong>Bloom<\/strong> \u2013 This startup is applying blockchain to credit scoring by building a protocol that manages risk, identity, and credit scoring.<sup>12<\/sup><\/p>\n<p>If you want to learn more about cryptocurrencies, UCT offers the <a href=\"https:\/\/www.getsmarter.com\/products\/uct-blockchain-and-digital-currency-online-short-course\" target=\"_blank\" rel=\"noopener\">Blockchain and Digital Currency: The Future of Money<\/a> online short course. This six-week program reveals how crypto assets are set to shape the future of the financial industry, while imparting a practical working knowledge of blockchain and cryptocurrency assets.<\/p>\n<p>Also focusing on cryptocurrencies is the SDA Bocconi School of Management\u2019s <a href=\"https:\/\/www.getsmarter.com\/products\/sda-bocconi-school-of-management-bitcoin-and-blockchain-program\" target=\"_blank\" rel=\"noopener\">Bitcoin and Blockchain Program<\/a>. This five-week online course explores the technical pillars that underpin these technologies, and is ideally suited to individuals driven to remain relevant by upskilling to address this new business need.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2-adopting-blockchain-technology-in-business\">2) Adopting blockchain technology in business<\/h2>\n\n\n\n<p>Blockchain technology has <a href=\"https:\/\/www.getsmarter.com\/blog\/blockchains-effect-on-business\/\" target=\"_blank\" rel=\"noopener\">huge implications for business<\/a>, with the main drivers for adoption being higher revenue, lower costs, and more efficient use of time. Examples of how blockchain is being adopted by corporate companies include:<\/p>\n<p><strong>ConsenSys Quorum<\/strong> \u2013 Originally developed by JP Morgan, Quorum is an enterprise-grade service that helps companies grow and manage large-scale blockchain networks.<sup>13<\/sup><\/p>\n<p><strong>LVMH<\/strong> \u2013 The luxury goods company is tracking goods and fighting counterfeiting through blockchain. It has registered more than 10 million products on a platform created in conjunction with Prada and Cartier.<sup>14<\/sup><\/p>\n<p><strong>MediaChain<\/strong> \u2013 This blockchain database was acquired by Spotify to manage copyrights and royalty payments, and resolve rights holder issues.<sup>15<\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3-application-of-blockchain-in-the-legal-field\">3) Application of blockchain in the legal field<\/h2>\n\n\n\n<p>In law, blockchain technology can be used to create smart contracts, as well as validate ownership documents such as title deeds. If used to validate, authenticate, and secure courtroom evidence, blockchain could improve efficiency in the criminal justice system.<sup>16<\/sup><\/p>\n<p><a href=\"https:\/\/www.getsmarter.com\/blog\/blockchain-regulation-and-smart-contracts\/\" target=\"_blank\" rel=\"noopener\">Smart contracts are digital contracts<\/a> that uphold the nature of a legal contract. The terms of the contract are written in code and automatically executed when the agreed conditions have been met, without the need for any involvement or intermediary. When this happens, the blockchain is updated, and only parties with permissions can see the results.<sup>17<\/sup><\/p>\n<p>Some states in the U.S. have begun to permit the use of smart contracts in certain legal contexts. These include Arizona, where parties can create enforceable legal agreements through smart contracts, and California, where marriage licenses can be issued via blockchain.<sup>18<\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4-the-use-of-blockchain-in-real-estate\">4) The use of blockchain in real estate<\/h2>\n\n\n\n<p>Real estate transactions are usually expensive, paperwork-heavy, and require the assistance of agents. Blockchain has the potential to ease the process of finding and buying real estate through tokenization, using digital real estate tokens to represent physical assets. This would:<\/p>\n<ul>\n<li>Ease transfer between buyer and seller by cutting out the need for a middleman<\/li>\n<li>Provide irrefutable proof of ownership via a distributed digital ledger<\/li>\n<li>Facilitate smaller real estate investments, as a token can be divided in the same way as a bitcoin<\/li>\n<li>Improve market security and transparency because every transaction is processed and approved by others<sup>19<\/sup><\/li>\n<\/ul>\n<p>Examples of real estate using blockchain technology include Deedcoin, which connects real estate agents with home buyers and reduces commission to 1 percent, and Harbor, which enables the tokenization of private securities, REITs, land titles, and land registry records.<sup>20<\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-5-improving-logistics-and-supply-chain-through-blockchain\">5) Improving logistics and supply chain through blockchain<\/h2>\n\n\n\n<p>Supply chains \u2013 the links between the creation and distribution of goods \u2013 have always been disrupted by innovation. Today\u2019s supply chains are extremely complex, threading multiple continents, including huge numbers of invoices and payments, involving myriad entities, and potentially extending over months.<\/p>\n<p>Due to this complexity, blockchain is an attractive means to <a href=\"https:\/\/www.getsmarter.com\/blog\/how-blockchain-will-radically-improve-the-supply-chain\/\" target=\"_blank\" rel=\"noopener\">transform the supply chain and logistics industry<\/a>. When goods are transferred to a new step in the supply chain, the process can be logged securely and permanently, creating an immutable, auditable history from its point of origin to that of sale.<sup>21<\/sup><\/p>\n<p>Below are some examples of innovative logistics and supply chain-focused blockchain applications:<\/p>\n<p><strong>TradeLens<\/strong> \u2013 Developed by IBM, this blockchain solution for logistics and supply chain provides transparency and improved efficiency through blockchain, offering a holistic view of shipment data and documents.<sup>22<\/sup> More than half the world\u2019s container ships are registered on the platform, and in 2020 it processed 1 billion shipments.<sup>23<\/sup><\/p>\n<p><strong>Provenance<\/strong> \u2013 Consumers are increasingly demanding transparency regarding the products they purchase to ensure the ethical sourcing and production of products. Provenance uses blockchain to prove chain-of-custody and certification of supply chains.<sup>24<\/sup><\/p>\n<p><strong>Honeywell<\/strong> \u2013 The U.S. conglomerate has partnered with iTRACE and SecureMarking to secure, track, and trace its aerospace parts throughout the world. It does so using laser-etching and invisible ink on the parts, encoding this information onto a blockchain ledger for digital authenticity.<sup>25<\/sup><\/p>\n<p><strong>De Beers<\/strong> \u2013 De Beers mines, trades, and markets more than 30% of the world\u2019s supply of diamonds. The company uses a blockchain ledger to trace diamonds from the mine to the customer purchase, and helps confirm diamonds are free from conflict.<sup>26<\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-6-healthcare-innovations-through-blockchain-technology\">6) Healthcare innovations through blockchain technology<\/h2>\n\n\n\n<p>Blockchain\u2019s open yet highly secure nature makes it a <a href=\"https:\/\/www.getsmarter.com\/blog\/a-guide-to-blockchain-applications-in-healthcare\/\" target=\"_blank\" rel=\"noopener\">natural fit for improving healthcare<\/a>. Patient information, for example, can be stored in an incorruptible, decentralized, and transparent database, making it safe but accessible to patients and healthcare practitioners alike.<\/p>\n<p>Other primary applications for blockchain in healthcare include:<sup>27<\/sup><\/p>\n<ul>\n<li>Protection of healthcare data<\/li>\n<li>Personal health record data management<\/li>\n<li>Point-of-care genomics management<\/li>\n<li>Electronics health records data management<\/li>\n<\/ul>\n<p>These are some innovative blockchain applications in this space:<\/p>\n<p><strong>MedicalChain<\/strong> \u2013 Offers a blockchain solution to create a user-centric digital health record that can be shared with doctors easily. All information is recorded in an auditable, secure, and transparent format.<sup>28<\/sup><\/p>\n<p><strong>Guardtime<\/strong> \u2013 This company is helping healthcare organizations and governments implement blockchain in their cybersecurity systems to keep essential data secure.<sup>29<\/sup><\/p>\n<p><strong>Curisium<\/strong> \u2013 This blockchain platform is designed to streamline rebate negotiation and contract management through the use of innovative digital contracts.<sup>30<\/sup><\/p>\n<p><strong>Robomed<\/strong> \u2013 This platform uses telemedicine sessions, chatbots, and wearable devices to collect patient data, recording it on blockchain so it can be shared securely with healthcare professionals.<sup>31<\/sup><\/p>\n<p><strong>The MediLedger Project<\/strong> \u2013 Initially launched by Chronicled in 2019, the MediLedger Project aims to improve the track-and-trace capabilities for prescription medicine. Built to meet the requirements set out by the U.S. Drug Supply Chain Security Act (DSCSA), the blockchain healthcare project meets the legal requirements as well as supporting the operational needs of the pharmaceutical supply industry.<sup>32<\/sup><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-impact-of-blockchain-innovation-on-business\">The impact of blockchain innovation on business<\/h2>\n\n\n\n<p>The tools and platforms described are just a few examples of how blockchain technology has been applied in various industries. This highlights the implications this technology will have for businesses, trade, and entire economies and how important it is for business leaders, tradespeople, and decision-makers to become familiar with the technology.<\/p>\n<p>Deloitte\u2019s 2021 Global Blockchain Survey found that 81 percent of business leaders believed blockchain was broadly scalable and had achieved mainstream adoption.<sup>33<\/sup> Blockchain skills have become one of the most sought-after proficiencies in the world, with the demand increasing by 59 percent from the end of 2020 to the beginning of 2021.<sup>34<\/sup><\/p>\n<p><strong>Future-proof your blockchain knowledge with an online course<\/strong><\/p>\n<p>The MIT Sloan School of Management <a href=\"https:\/\/www.getsmarter.com\/products\/mit-sloan-blockchain-technologies-business-innovation-and-application-online-program\" target=\"_blank\" rel=\"noopener\">Blockchain Technologies: Business Innovation and Application<\/a> online short course helps professionals develop these skills. This six-week program takes a fundamental look at how blockchain is impacting business and economics, while teaching students how to use blockchain technology to create greater organizational innovation and efficiency. Learn more about what you can expect on the course.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"MIT Sloan Blockchain Technologies: Business Innovation and Application | Course Trailer\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/T6ot1LWQkyM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<div id=\"accordion\">\n<div class=\"card\">\n<div id=\"headingOne\" class=\"card-header\">\n<h6 class=\"mb-0\"><button class=\"btn\" style=\"background-color: transparent;\" data-toggle=\"collapse\" data-target=\"#sources\" aria-expanded=\"true\" aria-controls=\"sources\"> <strong>Click here to view sources<\/strong> <\/button><\/h6>\n<\/div>\n<div id=\"sources\" class=\"collapse\" aria-labelledby=\"headingOne\" data-parent=\"#accordion\">\n<div class=\"card-body\">\n<ul class=\"mx-0\" style=\"list-style: none;\">\n\n<li class=\"mb-4\"><sup>1<\/sup> Lau, Y. (Nov, 2021). \u2018Cryptocurrencies hit market cap of $3 trillion for the first time as Bitcoin and Ether reach record highs\u2019. Retrieved from <a href=\"https:\/\/fortune.com\/2021\/11\/09\/cryptocurrency-market-cap-3-trillion-bitcion-ether-shiba-inu\/\" target=\"_blank\" rel=\"noopener\"> Fortune<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>2<\/sup> Levy, A. (Nov, 2021). \u201815 applications for blockchain technology\u2019. Retrieved from <a href=\"https:\/\/www.fool.com\/investing\/stock-market\/market-sectors\/financials\/blockchain-stocks\/blockchain-applications\/\" target=\"_blank\" rel=\"noopener\"> The Motley Fool<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>3<\/sup> Del Castillo, M. (May, 2021). \u2018Warren Buffett and Tim Cook snub blockchain as corporate giants embrace\u2019. Retrieved from <a href=\"https:\/\/www.forbes.com\/sites\/michaeldelcastillo\/2021\/05\/13\/warren-buffett-and-tim-cook-snub-blockchain-as-corporate-giants-embrace\/?sh=9e7f672bd5c9\" target=\"_blank\" rel=\"noopener\"> Forbes<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>4<\/sup> Rugg, R &amp; Gaur, N. (Oct, 2021). \u2018Fueling the financial industry with open source cross-border payments\u2019. Retrieved from <a href=\"https:\/\/www.ibm.com\/blogs\/blockchain\/2021\/10\/fueling-the-financial-industry-with-open-source-cross-border-payments\/\" target=\"_blank\" rel=\"noopener\"> IBM<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>5<\/sup> Kene-Okafor, T. (May, 2021). \u2018Paystack expands to South Africa seven months after Stripe acquisition\u2019. Retrieved from <a href=\"https:\/\/techcrunch.com\/2021\/05\/06\/paystack-expands-to-south-africa-seven-months-after-stripe-acquisition\/\" target=\"_blank\" rel=\"noopener\"> TechCrunch<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>6<\/sup> Onukwue, A. (Oct, 2021). \u2018What has Paystack done one year after joining Stripe?\u2019. Retrieved from <a href=\"https:\/\/qz.com\/africa\/2074316\/what-has-paystack-been-up-to-since-stripe-acquired-it\/\" target=\"_blank\" rel=\"noopener\"> Quartz Africa<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>7<\/sup> Murphy, S. (Oct, 2021). \u2018Ripple launches cross-border payments platform in the MENA region\u2019. Retrieved from <a href=\"https:\/\/www.paymentsjournal.com\/ripple-launches-cross-border-payments-platform-in-the-mena-region\/\" target=\"_blank\" rel=\"noopener\"> PaymentsJournal<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>8<\/sup> Kirova, D. (Sep, 2021). \u2018Africa-focused fintech CEO: Crypto is helping improve cross-border payments\u2019. Retrieved from <a href=\"https:\/\/www.banklesstimes.com\/2021\/09\/29\/africa-focused-fintech-ceo-crypto-is-helping-improve-cross-border-payments\/\" target=\"_blank\" rel=\"noopener\"> BanklessTimes<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>9<\/sup> (Nd). \u2018Services\u2019. Retrieved from <a href=\"https:\/\/www.securrency.com\/#service\" target=\"_blank\" rel=\"noopener\"> Securrency<\/a>. Accessed on December 2, 2021.<\/li>\n\n<li class=\"mb-4\"><sup>10<\/sup> Harty, D. (Sep, 2021). \u2018Crypto wealth management startup Abra raises $55 million in heat of digital asset boom\u2019. Retrieved from <a href=\"https:\/\/fortune.com\/2021\/09\/15\/crypto-wealth-abra-raises-55-million-digital-asset-boom\/\" target=\"_blank\" rel=\"noopener\"> Fortune<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>11<\/sup> (Mar, 2021). \u2018Banking is only the beginning: 58 big industries blockchain could transform\u2019. Retrieved from <a href=\"https:\/\/www.cbinsights.com\/research\/industries-disrupted-blockchain\/\" target=\"_blank\" rel=\"noopener\"> CB Insights<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>12<\/sup> (Mar, 2021). \u2018Banking is only the beginning: 58 big industries blockchain could transform\u2019. Retrieved from <a href=\"https:\/\/www.cbinsights.com\/research\/industries-disrupted-blockchain\/\" target=\"_blank\" rel=\"noopener\"> CB Insights<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>13<\/sup> Nelson, M. (Jun, 2021). \u2018What is ConsenSys Quorum?\u2019. Retrieved from <a href=\"https:\/\/consensys.net\/blog\/quorum\/what-is-consensys-quorum\/\" target=\"_blank\" rel=\"noopener\"> ConsenSys<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>14<\/sup> Del Castillo, M. (Feb, 2021). \u2018Blockchain 50 2021\u2019. Retrieved from <a href=\"https:\/\/www.forbes.com\/sites\/michaeldelcastillo\/2021\/02\/02\/blockchain-50\/?sh=37108b56231c\" target=\"_blank\" rel=\"noopener\"> Forbes<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>15<\/sup> Daley, S. (Jan, 2022). \u201815 companies utilizing blockchain in music to reshape a changing industry\u2019. Retrieved from <a href=\"https:\/\/builtin.com\/blockchain\/blockchain-music-innovation-examples\" target=\"_blank\" rel=\"noopener\"> Built In<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>16<\/sup> Forst, G. (Feb, 2020). \u2018Insight: Blockchain sits on the cusp of transforming the courtroom\u2019. Retrieved from <a href=\"https:\/\/news.bloomberglaw.com\/tech-and-telecom-law\/insight-blockchain-sits-on-the-cusp-of-transforming-the-courtroom-7\" target=\"_blank\" rel=\"noopener\"> Bloomberg Law<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>17<\/sup> (Nd). \u2018Smart contracts defined\u2019. Retrieved from <a href=\"https:\/\/www.ibm.com\/topics\/smart-contracts\" target=\"_blank\" rel=\"noopener\"> IBM<\/a>. Accessed December 2, 2021. <\/li>\n\n<li class=\"mb-4\"><sup>18<\/sup> (Dec, 2021). \u2018Real-world use cases for smart contracts and dApps\u2019. Retrieved from <a href=\"https:\/\/www.gemini.com\/cryptopedia\/smart-contract-examples-smart-contract-use-cases\" target=\"_blank\" rel=\"noopener\"> Cryptopedia<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>19<\/sup> Gurevich, L. et al. (Sep, 2021). \u2018A primer on the tokenization of real estate\u2019. Retrieved from <a href=\"https:\/\/www.eisneramper.com\/real-estate-tokenization-0921\/\" target=\"_blank\" rel=\"noopener\"> EisnerAmper<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>20<\/sup> (Nd). \u2018How to build a real estate platform on blockchain?\u2019. Retrieved from <a href=\"https:\/\/www.devteam.space\/blog\/how-to-a-build-a-real-estate-platform-on-blockchain\/\" target=\"_blank\" rel=\"noopener\"> DevTeam.Space<\/a>. Accessed December 2, 2021.<\/li>\n\n<li class=\"mb-4\"><sup>21<\/sup> Jones, H. (Apr, 2021). \u2018How the need for secure supply chains is propelling blockchain\u2019. Retrieved from <a href=\"https:\/\/www.strategy-business.com\/article\/How-the-need-for-secure-supply-chains-is-propelling-blockchain\" target=\"_blank\" rel=\"noopener\"> strategy+business<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>22<\/sup> (Nd). \u2018TradeLens container logistics solution\u2019. Retrieved from <a href=\"https:\/\/www.ibm.com\/blockchain\/container-logistics\" target=\"_blank\" rel=\"noopener\"> IBM<\/a>. Accessed on December 2, 2021.<\/li>\n\n<li class=\"mb-4\"><sup>23<\/sup> Del Castillo, M. (Feb, 2021). \u2018Blockchain 50 2021\u2019. Retrieved from <a href=\"https:\/\/www.forbes.com\/sites\/michaeldelcastillo\/2021\/02\/02\/blockchain-50\/?sh=37108b56231c\" target=\"_blank\" rel=\"noopener\"> Forbes<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>24<\/sup>  (Nd). Retrieved from <a href=\"https:\/\/www.provenance.org\/solutions#prove\" target=\"_blank\" rel=\"noopener\"> Provenance<\/a>. Accessed December 2, 2021. <\/li>\n\n<li class=\"mb-4\"><sup>25<\/sup> Beaver, N. et al. (Oct, 2021). \u2018Get real: Preventing counterfeit product with blockchain\u2019. Retrieved from <a href=\"https:\/\/www.foley.com\/en\/insights\/publications\/2021\/10\/preventing-counterfeit-product-with-blockchain\" target=\"_blank\" rel=\"noopener\"> Foley<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>26<\/sup> Smits, M. &amp; Hulstijn, J. (Mar, 2020). \u2018Blockchain applications and institutional trust\u2019. 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Retrieved from <a href=\"https:\/\/builtin.com\/blockchain\/blockchain-healthcare-applications-companies\" target=\"_blank\" rel=\"noopener\"> BuiltIn<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>30<\/sup> Morey, J. (Oct, 2021). \u2018The future of blockchain in healthcare\u2019. Retrieved from <a href=\"https:\/\/www.forbes.com\/sites\/forbestechcouncil\/2021\/10\/25\/the-future-of-blockchain-in-healthcare\/?sh=245c5a05541f\" target=\"_blank\" rel=\"noopener\"> Forbes<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>31<\/sup> Daley, S. (Jan, 2022). \u2018How using blockchain in healthcare is reviving the industry\u2019s capabilities\u2019. Retrieved from <a href=\"https:\/\/builtin.com\/blockchain\/blockchain-healthcare-applications-companies\" target=\"_blank\" rel=\"noopener\"> BuiltIn<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>32<\/sup> Barba, V. (Feb, 2020). \u2018Report on MediLedger blockchain network submitted to the FDA\u2019. Retrieved from <a href=\"https:\/\/www.outsourcing-pharma.com\/Article\/2020\/02\/25\/MediLedger-blockchain-network-report-submitted-to-the-FDA\" target=\"_blank\" rel=\"noopener\"> Outsourcing-Pharma<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>33<\/sup> Budman, M. et al. (2021). \u2018Deloitte\u2019s 2021 Global Blockchain Survey\u2019. Retrieved from <a href=\"https:\/\/www2.deloitte.com\/content\/dam\/insights\/articles\/US144337_Blockchain-survey\/DI_Blockchain-survey.pdf\" target=\"_blank\" rel=\"noopener\"> Deloitte<\/a>. <\/li>\n\n<li class=\"mb-4\"><sup>34<\/sup>  (May, 2021). \u2018Blockchain tech skills post fastest growth in demand: Freelancer.com\u2019s \u2018Fast 50\u2019. Retrieved from <a href=\"https:\/\/www2.staffingindustry.com\/eng\/Editorial\/IT-Staffing-Report\/May-6-2021\/Blockchain-tech-skills-post-fastest-growth-in-demand-Freelancer.com-s-Fast-50-list\" target=\"_blank\" rel=\"noopener\"> Staffing Industry Analysts<\/a>. <\/li>\n\n\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>At the end of 2021, the global cryptocurrency market cap reached $3 trillion \u2013 an all-time high.1&nbsp;Cryptocurrencies like Bitcoin and Ethereum are underpinned by blockchain technology. The adoption of blockchain, and the technology and products it supports, will continue to impact business operations dramatically. But blockchain technology is much more than a system for securely [&hellip;]<\/p>\n","protected":false},"author":74,"featured_media":44372,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[117],"tags":[122,120],"article-format":[],"class_list":["post-22919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-trends","tag-business-management","tag-systems-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v26.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Future of Blockchain Technology<\/title>\n<meta name=\"description\" content=\"Blockchain technology has business applications beyond secure online transactions and cryptocurrency transfer. 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