Blockchain can provide transparency, decentralization, efficiency, security, and other benefits, revolutionizing multiple industries….

Over recent months IBM has urged the government to consider the use of blockchain as a way of saving time, money and averting risk. IBM has stated that this technology needs to be seen as more than just the foundation for cryptocurrencies. IBM is amongst the growing number of companies offering Blockchain-as-a-Service (BaaS); a service that allows enterprises to pilot the technology without having to undergo huge capital expenditure in hardware and onsite development.

An energy revolution is on the horizon, in which both utilities and consumers will produce and sell electricity. Blockchain technology is already being tested in a number of different places. For example in New York State it is being tested as a way of selling solar energy between neighbours and in Germany one power company is running a pilot to see if blockchain technology can authenticate and manage the billing process for autonomous electric-vehicle charging stations.

Sir Arthur C. Clarke said that: “any sufficiently advanced technology is equivalent to magic”. Well, I thought that transferring money from a country to another without paying any fees could only happen in a magical world, but since I have started travelling around the world of technology on my journey with Serviceteam IT, I would totally agree with Arthur.