{"id":103996,"date":"2023-04-01T11:22:44","date_gmt":"2023-04-01T11:22:44","guid":{"rendered":"https:\/\/coforge.site\/cigniti_new\/?p=103996"},"modified":"2023-04-10T11:30:23","modified_gmt":"2023-04-10T11:30:23","slug":"cigniti-technologies-for-how-long-cios-would-pause-the-blockchain-button","status":"publish","type":"post","link":"https:\/\/coforge.site\/cigniti_new\/cigniti-technologies-for-how-long-cios-would-pause-the-blockchain-button\/","title":{"rendered":"Cigniti Technologies: For How Long CIOs Would Pause the Blockchain Button?"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]Since the very first paper was produced about it in 1991, Blockchain has divided the technology community into three groups:<\/p>\n<ul style=\"list-style-type: inherit; padding-left: 40px;\">\n<li>The Believers: Blockchain will replace governments, the world will be run by Blockchain.<\/li>\n<li>The Non-Believers: It\u2019s just another Silverlight.<\/li>\n<li>The I-don\u2019t-care-ers: I\u2019ll just wait until someone does something.<\/li>\n<\/ul>\n<p>Then in 2008, Bitcoin happened, and two more sections of people got added to the list \u2013<\/p>\n<ul style=\"list-style-type: inherit; padding-left: 40px;\">\n<li>Crypto Warriors: End of the banks. The world has changed forever!<\/li>\n<li>Crypto Weary-ers: It\u2019s a pandora\u2019s box that will increase crime.<\/li>\n<\/ul>\n<p><strong>Why Blockchain is Gaining Traction?<\/strong><br \/>\nWhile the reality is that Blockchain is just like any other technology that goes through the hype cycle, it has one fundamental advantage: it is what we call a \u201chorizontal technology\u201d. This means it has several use cases and applications compared to something like a Silverlight. More and more people are realizing the fact that there is more to Blockchain than cryptocurrencies.<\/p>\n<p><em>\u2018Gartner estimates blockchain will generate $3.1 trillion in new business value by 2030\u2019<\/em><\/p>\n<p>The \u201cPrivate Blockchain\u201d world has far more use cases that can be transformational in the corporate world. Examples like supply chain traceability are already very popular and many companies are either in the process of implementing the same or have already implemented them. Similarly, secure sharing of data over blockchain networks, identity management using blockchain wallets, etc. are all use cases that are seeing a lot of traction. It is important to note though that a lot of these implementations are driven by trying to solve an existing problem rather than trying to reinvent the wheel. For example, blockchain in the supply chain is being used as a system of record rather than as a contract automation system.[\/vc_column_text][vc_btn title=&#8221;Access the full coverage&#8221; style=&#8221;classic&#8221; shape=&#8221;square&#8221; color=&#8221;primary&#8221; link=&#8221;url:https%3A%2F%2Fplanetstoryline.com%2Fcigniti-technologies-for-how-long-cios-would-pause-the-blockchain-button%2F|target:_blank&#8221;][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]Since the very first paper was produced about it in 1991, Blockchain has divided the technology community into three groups: The Believers: Blockchain will replace governments, the world will be run by Blockchain. The Non-Believers: It\u2019s just another Silverlight. The I-don\u2019t-care-ers: I\u2019ll just wait until someone does something. Then in 2008, Bitcoin happened, and two [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[459],"tags":[],"class_list":["post-103996","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"featured_image_src":{"landsacpe":false,"list":false,"medium":false,"full":false},"_links":{"self":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/posts\/103996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/comments?post=103996"}],"version-history":[{"count":0,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/posts\/103996\/revisions"}],"wp:attachment":[{"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/media?parent=103996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/categories?post=103996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coforge.site\/cigniti_new\/wp-json\/wp\/v2\/tags?post=103996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}