Blockchain at center of new innovation ecosystem, study suggests


A new study from an analytics firm called HFS Research shows that blockchain could be at the center of a much greater trend toward new innovations that will change the ways we approach user interfaces in general.

HFS suggests firms are building “entire ecosystems” based on the kinds of change that blockchain facilitates

Pointing out some of the various attributes of blockchain that are most useful, HFS researchers cite the distributed nature of decentralization. We’ve heard forward-thinking scientists posit a future decentralized Internet, and that’s one example of what this type of utility is about.

In addition, others looking at top blockcain attributes tout the immutability and security of blockchain systems, as well as “trust cuts,” or in other words, the ability to create more trustless and thereby frictionless processes, all of which is encapsulated in this summary by Adrian Zmudzinski at Cointelegraph today:

“HFS believes that blockchain has six features that are responsible for its success and future adoption. These features include its ability to drive distributed data sharing, consensus-driven trust cuts, immutability, security ensured by data hashing, smart contracts and the flexibility of being able to use permissioned (managed) or permissionless (open) systems.”

There’s also the utility of systems that allow for either permission or permission less access.

Zmedzinski cites estimates that 15% more existing blockchain solutions are “reaching a production stage” this year, and that all of this promises rapid scaling of a sector that has the power to change the world.

Many buy and holders are embracing this kind of ideology. To them, these kinds of change are like dominoes standing and waiting to be knocked over. When the dominoes start falling, these asset holders believe, cryptocurrency values will soar. That’s why it’s important to keep an eye on these kinds of trends and suggestions, because the timing is all-important. You want to be into cryptocurrencies before they explode in utility cases. Keep an eye out.