by Tomislav Matic, CEO of Crypto Future
Those who associate blockchain with cryptocurrency can certainly be forgiven. At this point in time, blockchain still has comparatively few use cases outside of its digital asset roots.
For cryptocurrencies, the primary benefits of blockchain technology are through the facilitation of transactions without the need of any third party interference, increased transparency within transactions, and more accurate tracking of these movements. Of course, these are all desirable for crypto traders when compared to the heavily-regulated system of fiat currencies.
However, these benefits can spread further than just the finance sector. Blockchain’s distributed ledger will offer this transparency, means of tracking and ease of use across a variety of applications outside of finance, and once it is adopted, there are limitless opportunities for its use.
At Crypto Future, we expect this to soon happen, and we are busy preparing to facilitate a mass uptake of blockchain based applications. The Rotharium platform offers users a wide spectrum of highly developed blockchain based applications, as well as allowing distributors of cloud services to connect with the Rotharium platform – a gateway to the Ethereum Blockchain.
Not only is Crypto Future developing its own blockchain-based apps, but also giving external app programmers the chance to use the platform to connect their applications with the blockchain.
Despite the naysayers, the future of blockchain is indeed bright. It could happen in the next five years, or it could take a few more decades, but one day blockchain will be integrated globally, and from there it’s difficult for anyone to predict its limits.
Many believe that blockchain will make a huge contribution to society in itself – a publicly accessible, open-source platform being powered by a global network of users. However, blockchain’s ability to serve as a system within an enterprise will also play a prominent role in future business.
October saw the Rotharium EBI launch, providing Microsoft Dynamics NAV users to with many features and functions related to payment transactions in cryptocurrency, making the creation and further processing of invoices and vouchers faster and easier.
For the first time, NAV can now be integrated with the blockchain, allowing transactions in cryptocurrency, and this is just the first step of many.
Crypto Future is currently developing an app, Rotharium Food Tracing, that will use the transparency of blockchain to allow shoppers insight into the production process of their goods. This app will allow agricultural products to be traced from production all the way through to the end consumer in real time. The application will be counterfeit-proof and highly efficient – saving logistical costs while enabling transparent and sustainable food control.
Furthermore, using blockchain technology to create booking applications, for example on the Rotharium platform, could make the entire process of booking a hotel or holiday much simpler. Today, users search for our criteria and desired price, trawling through pages for hours in order to make something work. With a blockchain booking app, we could submit our criteria through the distributed ledger and simply wait for the right opportunity to come to us. You wouldn’t even have to be online. Hotels would be able to see your request, and could even choose to drop prices to accommodate. Once a match is found, a smart contract reserves your place, and you’re notified immediately.
Finally, for an application with more wide-reaching consequences, consider election voting: today’s elections are filled with uncertainty, anxiety and unreliable exit polls. A blockchain-based voting application could facilitate reliable online voting. There would be no controversy around vote manipulation or any opportunity for human error. Casting a vote through blockchain technology also keeps a real-time, constantly updated and transparent election, with no need for prior projections. The result could be unveiled as soon as voting closes, rather than slowly over the course of the following night and morning.
A lot of people are predicting blockchain to be a fad – similar to how non-believers once thought to portray the internet – simply because its full potential is yet to be uncovered and understood. The truth is that it will change the world, and these examples are only a few of thousands of opportunities; we just need a little patience. The industry is crying out for someone to make this leap, and having successfully completed its ICO over a year ago, Crypto Future is now making strides to providing the future of blockchain.
Tomislav has 20 years of experience in information technologies, working his way through the industry taking on various project management and consultant roles, before becoming CEO of Crypto Future in September 2017.
Now, as CEO and Co-Founder of Crypto Future, Tomislav is taking information technology to the next level through blockchain having successfully guided the company through its ICO stage, which was successfully completed in early 2018. Crypto Future quickly developed into the most successful newcomer in the still young blockchain scene in Austria.
Matic’s photo courtesy of Crypto Future via communications agency Jargon PR