I do not want to compare actual cryptocurrency hype and bubble with the tulip mania in the 17th century, when the whole market collapsed in February 1637 – but I am wondering when the blockchain bubble will explode and we can focus on the real advantages of this technology.
Anyline’s technology focusing on mobileOCR is faster pulled into the blockchain hype than I would have expected.
The more ideas like physical internet, provenience, interoperability, privacy, document management, tracking, certification and last but not least identification is increasing. The need for trust deeper within the supply chain is raising. Once you have identified a trustworthy object, you can augment the reality around this object with information from its digital twin.
Therefore anyline’s mobileOCR is evolving into the Eye of the Blockchain feature when a physical object is passing by.
Even worse is the ICO rush – initial coin offering – or kick-starter on steroid as I call it. Being an IPO without any regulations and governance. 30mUSD in 30 Seconds fund raising or in the case of tenx roughly 80m. At least tenx has a product, a credit card where you can spend your coins in the real world and an implemented protocol comit to interlock with various cryptocurrencies like Bitcoin, Ethereum or Ripple.
We are bothered with these emerging technologies adopting fast into real world physical supply chains. In August – same procedure like every year – we are expecting the Gartner’s Emerging Technologies Hype Cycle. This year blockchain is already over the hill of over-estimated short-term expectations, however long-term blockchain will have an enormous transformational impact on our society. I am not such a strong believer in the cryptocurrencies, but the technology itself solves problems we were struggling over the last 3 to 4 decades.
Blockchain gives you suddenly something to manage values, which can be publicly shared, is de-centralized, secure, trusted and automated. Fast moving and innovative organizations are pulling our scanning solution into the area of provenience of scanned objects. So we have faster to adopt capabilities to understand, build and run blockchain architectures based on Ethereum or Hyperledger.
Since two years we can find start-ups in the area of cloud storage, smart contract, anti-counterfeiting, governance, digital identity, internet of things and market prediction building on blockchain architectures. In 2016 big players like IBM or Microsoft see a chance to utilize their cloud infrastructure with blockchain technology and applications to tackle the competition from Google and Amazon.
By establishing industry consortiums IBM with food industry or re-insurance industry, the Farm2Fork process shall be made fully traceable to mitigate impact like the Fipronil scandal. Everledger building on hyper ledger is tracking and tracing Diamonds.The odometer fraud will be avoided by blockchain solutions from Bosch and German TÜV.
Just a couple of examples a I collected. An enormous business opportunity ahead for all of us.