technology that is staying ahead of the future of technology in the world, Blockchain continues to experience growth over time so that this advanced technology can be used in various aspects of life in society such as personal identity security, land and property ownership registration, and gold tracking. digital, digital assets and also to combat trafficking of minors in the UN (United Nations). In addition Blockchain technology can also be used for open source software that can be enjoyed by many people for free.
Benefits of Blockchain's use are the results of Blockchain exploration conducted by several major technology-based companies in the world such as IBM, Hyperledger, Microsoft, Oracle, MasteCard, and many more technology and banking companies that participate in the development of Blockchain technology in the world.
if we look at the journey and track record of Blockchain's use to date it seems Blockchain technology as a technology of the future, it is not a mere figment.
The use of Blockchain above is proof that Blockhain can be the answer to the problems that occur in the world community. But how is the development of Blockchain technology in 2018?
-Asia and the Middle East Will Aggressively Encourage the Use of Blockchain
Interest in consumer spending in Asia and the Middle East is very high, where some of the largest banking institutions continue to advance with Blockchain projects for service offerings, especially in payments.
For example, banks in Japan and South Korea are just beginning to test Blockchain technology by making money transfers internationally on the same day. Where results in the test resulted in cutting transfer costs by up to 30 percent with the help of Blockchain technology.
-Cybersecurity Will Drive Blockchain Adoption
Security factors related to the use of personal identity is already a major focus in the world today, where in 2018 the application of Blockchain technology on cyber security systems will surely increase. Just as Bitcoin uses Blockchain technology as the basis of security systems.
Where the current security system is considered not safe, therefore Blockchain is believed to be a key and solution to overcome the problem of cyber attacks such as rampant hackers who often hack the personal identity of customers.
- The development of ICO will skyrocket
There is an ICO leap in 2017, and the crypto ecosystem is progressing very well. By 2018, the rate of ICO will grow significantly faster and predicted to overtake venture capital funds.
-Adoption of Blockchain Technology Includes Finance and insurance
The insurance and financial sectors are two of the most likely to encounter disturbances and threats to both cyber and other crimes.
Blockchain's presence in finance and insurance is excellent for the insurance claims process, regulating patient privacy, customer identity, and can also be used to treat medical equipment in cyberspace. Moreover, this often involves usability of personal identity.
-Privacy Blockchain
The presence of Blockchain technology indirectly will also drive digital transformation for companies in the world. Like the payment process, personal identity validation is set up automatically. Why?
Due to this modern era, the protection of one's privacy takes precedence. Therefore the use of Blockchain in this sector is considered very large. As experienced by Bitcoin (Segwit2X) which is thought to slow down the growth of Bitcoin. This will encourage private "Blockchain" where this way is considered not to slow the development of digital currency.