What blockchain platforms are there?

For the development of products and services that use blockchain, a platform that is the basis for implementing its development is essential. Today, there are many different types of blockchain platforms available, from vendor-specific to open source . For example: Ethereum, an open source decentralized computing platform / operating system. Quorum , an enterprise version of Ethereum. Ripple , an enterprise platform for global payments. Hyperledger Fabric with a focus on B2B and R3 Corda for financial services.

There are several ways to classify blockchain platforms. One of them is depending on the use you want to give it. For example, it is preferable to use Bitcoin for simple remittances, Ethereum for games, and Ripple or Corda for interbank remittances as a development basis. Other classification methods include, for example: the type of permission, presence or absence of virtual currency, presence or absence of smart contract function, or high confidentiality. The important thing is to choose the platform that suits the needs of each company .

Is it the future of the world economy?

During the last decade, there has been an intense debate in the world about the use of blockchain technology in the economy and its revolutionary importance in terms of ensuring security, protecting user data and the speed of online transactions. Recently, this debate has gained momentum as companies and institutions in the private and public sector have advanced in exploring the applications of blockchain technology in other areas of the economy and society.

Therefore, it is to be expected that blockchain technology will contribute in the near future to change business models in many sectors, such as health, finance, energy or public services . Among other things, blockchain technology can become one of the important technological catalysts of the fourth industrial revolution, which will lead to the so-called 4.0 economy, in which the production process is carried out by “smart factories” within “chains intelligent supply systems ”which are cyber-physical systems connected by the Internet.

by Abdullah Sam
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