Forget the property market, one of the biggest booms in the last 18 months has been in blockchain applications.
From trading cryptocurrencies to purchasing art in the form of non-fungible tokens (NFTs), blockchain assets have become household terms – and it’s not limited to just computer experts.
Everyday people, investors, collectors and even celebrities have bought into the viral crazes, based around blockchain’s ability to store information electronically in a way that is virtually impossible to hack, but also gives a public record of transactions.
Professor Salil Kanhere, from UNSW School of Computing Science and Engineering, says although the underlying technology of blockchain has been around for a while, it has only taken off in recent years.
“The platform is much more well-established and trusted and even adopted by tech giants, such as IBM, who are using it for supply chain and traceability purposes,” he says.
“Everyday people who have little or no computer expertise can still access blockchain through trading tokens or crypto. And all the platforms now make it so easy to access.
“We are seeing a rise in the popularity of blockchain and in particular, NFTs – and I believe, it’s here to stay.”
So, what’s next for the world of blockchain? Here are Prof. Kanhere’s predictions on what may take off next.
Continue reading: https://newsroom.unsw.edu.au/news/science-tech/whats-next-big-blockchain-craze
From trading cryptocurrencies to purchasing art in the form of non-fungible tokens (NFTs), blockchain assets have become household terms – and it’s not limited to just computer experts.
Everyday people, investors, collectors and even celebrities have bought into the viral crazes, based around blockchain’s ability to store information electronically in a way that is virtually impossible to hack, but also gives a public record of transactions.
Professor Salil Kanhere, from UNSW School of Computing Science and Engineering, says although the underlying technology of blockchain has been around for a while, it has only taken off in recent years.
“The platform is much more well-established and trusted and even adopted by tech giants, such as IBM, who are using it for supply chain and traceability purposes,” he says.
“Everyday people who have little or no computer expertise can still access blockchain through trading tokens or crypto. And all the platforms now make it so easy to access.
“We are seeing a rise in the popularity of blockchain and in particular, NFTs – and I believe, it’s here to stay.”
So, what’s next for the world of blockchain? Here are Prof. Kanhere’s predictions on what may take off next.
Continue reading: https://newsroom.unsw.edu.au/news/science-tech/whats-next-big-blockchain-craze
