2019 has been a year of great concern for the blockchain industry, during which internet giants accelerated their entry into the blockchain industry, the well developed countries have started competition for sovereign rights of digital currencies, a large number of blockchain applications has been developed and matured, and China has opened a new era of blockchain, encouraging the development of blockchain technology and has invested billions in blockchain innovation.
It is foreseeable that 2020 will be a key year for the blockchain competition. After last year’s collective shuffle, the blockchain projects have clearly embarked on the road of standardization, and many of the strong and solid potential projects have survived the competition. In such a new challenging year, the development of blockchain projects will undoubtedly break through the existing scale and quantity again, and a few trends has started to appear.
BAAS system
The BAAS system is definitely the most promising service system based on the underlying technology architecture of the blockchain. It can almost solve the pain points of the development of various industries. For example, the development of the traditional e-commerce industry over the past years has exposed many shortcomings. Many consumers or store merchants have encountered several unpleasant e-commerce platform experiences:
- The received product is quite different from how it was shown on the online shop;
- The product is really good, but it can’t win against shops that buy likes and good comments for marketing;
- Consumer information was leaked for some reasons, and the products recommended by four or five different online shopping apps are highly similar;
- Spending a lot of time finding the appropriate products every day, worried of spending money unjustly on products that aren’t as good as they say they are.
Behind these poor online shopping experiences are the drawbacks exposed by traditional e-commerce: information leakage, flooding of fake likes and comments, credibility crises, and high degree of centralization. These disadvantages all threaten the shopping experience of consumers, and the transformation of traditional e-commerce is imminent. The BAAS service system is a good solution to eradicate the shortcomings of e-commerce. By confirming user data rights, creating a decentralized data bank, establishing a smart contract library, developing POL cross-chain technology and DPOC consensus mechanism, and allowing free construction of these powerful blockchain functions in the modular mall, it is more than enough to allow consumers to shop safely and securely; at the same time, merchants can also save operating costs on the platform and obtain node bonuses. The more obvious the disadvantages of e-commerce, the more significant the value of BAAS. The same is true for BAAS in other industries.
Blockchain Plus will replace the Internet Plus
The applications of blockchain that can solve problems that cannot be solved by the internet and traditional methods in enterprises and empowers the enterprises are called Blockchain Plus (Blockchain +). For example, blockchain being applied to life scenarios such as electronic bills, mutual insurance, data management, medical information deposit certificate, and provident fund deposit and payment certificate and many more. Compared to large enterprises, small and medium-sized enterprises are more in need to use blockchain for industrial upgrade and transformation, so as to reduce capital, time, labor and other costs and gain market recognition faster to obtain greater benefits.
Blockchain Education and Training
Blockchain will continue to move forward and there will be more enterprises applying blockchain in 2020, but the scarcity of blockchain professionals is increasing in the market. Many universities have already launched blockchain related courses, and people in other industries who want to enter the blockchain industry need to learn everything about blockchain and its development so far.
For investors and business owners or executives, blockchain is still a very strange thing. They need to learn how blockchain projects operate, how the business models are designed, and how blockchain is applied to the industry. After they have learnt about blockchain, they need to have a more practical experience with the technology to understand it more thoroughly.
There will more and more institutions beginning to offer blockchain related courses, and some of them will stand out to be the best courses, as it is with any of degree course in universities and learning institutions. As this trend moves forward, the number of blockchain professionals and experts will increase dramatically, and may even flood some industries within certain countries. This trend will become the underlying driving force of blockchain’s future development and application.
CyberVein has noticed the trend in which more and more people are beginning to learn about the fundamentals of blockchain technology and starting to explore the potential applications of blockchain, while universities are gradually improving their blockchain curriculum to better equip the student with blockchain knowledge.
Although blockchain degree courses offer substantial knowledge about blockchain technology, but many of them are lacking in the practical experiences with blockchain in the courses they offer. CyberVein has acquired a system that enables the practical experiences of blockchain for the education of blockchain technology. The system can be installed on university campus, offering students the convenience to log into the system and put the theories they learnt about blockchain into practical use. The system contains a blockchain with open source codes, and enables students to create their own decentralized applications on the system. They can even simulate the dApp they created in the sandbox environment provided within the system, obtaining useful data for their ideas and improving the application based on the results collected. Alongside with the universities, CyberVein could host competitions to identify the most promosing dApps developed by the students, and help obtaining funds to initiate further development of their ideas.
Just like science, learning theories will not be enough, actual practical experience is needed to put the theories into use and reinforce the knowledge in the mind. We certainly hope that this educational blockchain system can help many students achieving their dreams, and become a new driving force in the development of blockchain technology and applications around the world.
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