Throughout history humankind has faced all kinds of threats and challenges. Indicative of our rate of success in meeting and overcoming said threats and challenges is that we find ourselves the dominant species on the planet. However, before we start a collective pat on the back this has to be tempered with the knowledge that we have made some colossal faux pas en route which have included world conflict, resource mis-management, and environmental distress.
Historic technological breakthroughs that allowed ancient civilisations to irrigate parched arid lands still fill us with wonder today (Petra in Jordan is a fine example). Many fields that we today look on and consider as modern including medicine, metallurgy, astronomy, engineering were all practiced by our ancient ancestors and it is upon their discoveries that the modern world we live in evolved.
Central to Humankind’s continued evolution is imagination. The idea that if we can think it we can build it really is key. Henry Ford is accredited with saying ‘if you think you can or you think you can’t, you’re probably right’ and this highlights the importance of belief. More than anything it is this willingness to not only try new ideas without the fear of running aground but to keep learning and modifying them when progress is thwarted. It is this tenacity to persevere and innovate until the desired outcome is achieved that defines us as a species.
The above discussed human attributes and sentiments apply equally in respect to Blockchain Technology advancement. Much has been discussed regarding Blockchain and of late the dismissive voices of naysayers and sceptics have become louder. They commonly cite the lack of successfully completed Blockchain projects as proof that the Technology is flawed and unusable (although the likes of Coca Cola, Wal-mart, the United Nations, Finland and many more prove this is not the case). At Chainlify we believe that the truth regarding Blockchain’s growing world importance is veiled by the complexity and size of the projects in the public eye.
In aviation the first aircraft to fly were simple lighter than air craft. In 1903 the Wright brothers were the first to successfully fly a simple but none the less heavier than air machine. Aeronautical engineering evolution then took us step by step from the Kitty Hawk to the Jumbo Jet. When we look at businesses such as Google, and Microsoft building huge Blockchain projects from scratch it feels like we are skipping the early and intermediate stages and going straight to the Blockchain equivalent of the jumbo jet.
The setbacks today’s large projects are coming up against do not mean the underlying technological idea is terminally flawed but that they are bumps in the road which must be expected on such an extensive and innovative journey. To use another analogy, again borrowed from aviation: the Harrier Jump jet was designed in the early 1950’s but developing and harnessing the technology meant the aircraft did not enter service until 1969 and this, I believe, is where we are at with Blockchain technology today.
Blockchain based projects are already proving themselves around the world. Coca Cola’s blockchain platform is currently streamlining and cutting costs in the Company’s US$21b supply line. Wal-Mart’s Blockchain platform has reduced company costs by 10%. So why is Blockchain’s move into the mainstream painstakingly slow? The answer to this question is easy- there is a worldwide shortage of Developers with the knowledge, experience, and confidence to take on blockchain projects.
The learning process is lengthy which brings with it the problem of reduced income for developers who take the time out from earning for learning. Chainlify have recognised this as blockchain’s developmental pinch-point. Our blockchain-as-a-Service platform will remove this restriction by lowering the entry level skill/experience requirements for developers to move into blockchain projects. As this takes effect we will see more blockchain projects coming on-line and momentum will grow quickly. As this happens it will, as usual, be those brave innovators that jumped first that will prosper best.
The following is a list of just a few of the entities currently operating successful Blockchain based platforms/projects:
- Coca Cola
- Wal-Mart
- Huawei Technologies
- Finland
- The Bahamas
- Mastercard
- The United Nations
- Bank of China
- Fed Ex
- Microsoft
- Burger King
The above all have at least one thing in common - they have deep pockets! Chainlify’s BaaS platform will make the advantages of Blockchain available to all developers and all businesses regardless of size. Follow Chainlify at www.chainlify.io for updates as we near our Platform launch date scheduled for Q2 2020.