Blockchain: Bitcoin technology is to have by 2023, Potential

The research and Advisory company Gartner has published the latest Blockchain Spectrum. According to the analysis model, the Blockchain is currently in a transitional stage. Elemental components were already involved in the technology. However, klaffe still a gap between utopia and reality. This poses both risks and opportunities for the further development. Where is the Blockchain-trip?

Moritz wire
On the 25. October 2019BTC$9.100,16 -3.16%part Facebook Twitter LinkedIn xing mail

Yesterday, on 24. October, presented by Gartner, the new Blockchain Spectrum, which describes the Blockchain-development in four phases. Currently, the Blockchain was in Phase two: the Main block chain-based applications are already developed, while it is missing in the integration of key technologies.

Gartner developed the Blockchain Spectrum, step-by-step development of the Blockchain way to capture in a model. In the scheme, companies based their structures on the Blockchain-Orient development. The analysis model describes four sections, the Blockchain runs up to the complete development to 2030, by. Each of the phases poses both opportunities and risks.

According to Gartner, the fully-developed Blockchain is composed of five key elements: distribution, encryption, immutability, tokenization, and decentralization. Only in the third Phase, all five elements are fully integrated. This would be expected at the earliest from 2023.

David Furlonger, Vice President of Research at Gartner, said:

in addition to operational improvements and efficiency, there are sophisticated Blockchain solutions, enabling businesses to monetize business relationships to remodel, illiquid assets, and data and value flows redistribute in order to be more successful with the digital world, deal with it. That is the real business of the Blockchain.

Gartner: The four phases of the [display] buy Bitcoin with the Bitwala account. Why have a Bank account with Bitwala? A Bank account is “Made in Germany” with protection of deposits up to 100,000 euros; 24/7 Bitcoin trading with faster liquidity; trading only ‘real’ Bitcoin has no financial derivatives such as CFDs; Secure users of lift-off control of the Bitcoin Wallet and the private key; With the contactless Debit Mastercard worldwide, and pay.

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The four phases of an orientation on the current state and the future development of the Blockchain to give. The phases are as follows:

start-up : The Blockchain is still in an early stage of development, which incorporates the basic technologies: cryptography, Distributed Ledger, Peer-to-Peer networking and Messaging. The Phase is completed in 2012.

Inspiration : The current Phase in which certain innovations, in particular in the area of financial services researched and partially applied (Proof-of-Concept, PoC). The current solutions uses basic technologies, but builds only three of the five elements with a distribution, encryption and immutability. Some Blockchain solutions to use the Tokenization already. These, however, were not decentralized yet sufficient. This Phase will last until the beginning of the early 2020s.

complete : the beginning of The Phase is not expected until 2023, if all five elements are involved: distribution, encryption, immutability, tokenization, and decentralization. The fully-developed Blockchain enables Tokenization through Smart Contracts and decentralization, two components that were missing in the previous Phase.

development : The last Phase is scheduled for 2025, when the Internet of Things (IoT) and the concept of the Self-Sovereign Identity (SSI), i.e. the self-management of personal data, via a Blockchain. After 2025 technologies such as the Internet of things, Artificial intelligence and Self-Sovereign Identity will grow together and in Blockchain networks integrated.

The Gartner model shows that a few years before Bitcoin is Mature technology, and all the application has implemented opportunities. Although the foundations are in place, but the coming years will show some of the innovative approaches are successful and which are not.

Above all, the model shows but one thing: We are only at the beginning of a long road.

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