Recently the CoinTelegraph shared the news about Microsoft and Amazon considering the implementation of the blockchain even though it goes against their centralized values. These companies simply can’t ignore the decentralization because it has become apparent that blockchain is the future.
It wasn’t so long ago that people were calling Bitcoin a scam, a lie, and something that won’t last for long. We all have heard them but now even government organizations, global leadership bodies such as the G20, and banks, one of the biggest detractors of cryptocurrencies, are realizing that they need to be on the forefront of this emerging technology.
The new wave of adoption is now coming from corporations. Microsoft has always been a Bitcoin supporter. It has identified the power of blockchain technology and its potential for disruptive apps in every industry. Also, Azure has released its blockchain app creation service, Azure Blockchain Workbench, on May 7. Workbench aims to allow businesses looking to create bespoke blockchain apps to speed up the development process by automating infrastructure setup.
Another positive example is Amazon which revolutionized the e-commerce space. It’s now looking to be on the front line when blockchain technology truly takes a hold. Essentially, users would be able to create their own blockchain apps via the Amazon Web Services (AWS) CloudFormation Templates tool. AWS vice president Jeff Barr explained in a post: “Some of the people that I talk to see blockchains as the foundation of a new monetary system and a way to facilitate international payments. Others see blockchains as a distributed ledger and immutable data source that can be applied to logistics, supply chain, land registration, crowdfunding and other use cases. Either way, it’s clear that there are a lot of intriguing possibilities and we are working to help our customers use this technology more effectively.”
Other big companies also consider jumping in the blockchain movement in different shapes and forms. Huawei is loading phones with a built-in Bitcoin wallet; Samsung will use blockchain for managing its global supply chain; Spanish banking group BBVA became the first global bank to issue a loan on a blockchain, and use-cases continue to grow around the world.
“Microsoft and Amazon have no choice but to focus on blockchain because it is the future. If they don’t, they know that it’ll hurt their growth in the cloud computing space. Look at Facebook, they see the value in blockchain so much that they moved around their executive team to put the ex president of PayPal on blockchain projects,” Neil Patel, Advisor of Kind Ads, a decentralized ad-network.
It’s becoming clear that the future is with blockchain technology. The excitement is spreading, and it is creating a race even outside banking and financial sectors. Blockchain technology, while attached to cryptocurrencies, has many applications for other sectors. These applications are being explored, and evaluated all around the world.
Companies like Microsoft, Amazon, Samsung, Huawei and others, all realize that with all these opportunities, it would be half-wittedly to dive in, and quick.
The decentralized power of blockchain produces a new kind of business that is revolutionizing lots of industries. Blockchain helps to create a new business model that is built on technology, rather than people or top management. The technology does not receive profits of its own, nor does it make decisions based on emotion or self-preservation which is important for recruitment sector. One of the modern players in the industry is Aworker — the platform that helps to find the most suitable company and job position based on your psycho-type, professional skills, and achievements. Aworker users are no longer tied up to one job, company, city or even continent so all your connections from all over the world will be counted. The catch here is that in blockchain you have to prove the data you write about by attaching certificates or other verifying documents. Also, you can get a reward by recommending a friend or acquaintances for open positions (they’ll be rewarded even if they won’t get a job after the interview). Your acquaintances from internships, part-time jobs, webinars, and other professional events will be able to prove your skills and achievements at work. Thanks to the smart contracts, all payments will be made automatically. To find out more about the project, visit this page.
Let me know your thoughts about the potential of the blockchain technology in the comments below.