Analysis of Blockchain technology by the Ukrainian blockchain company for application and software development


Predicting the future is a risky business. Nevertheless, experts at iTizzi Software Development Company (Ukraine, Kyiv) put forward forecasts for the blockchain for 2021. For example, as cryptocurrencies (BTC, ETH, RPX) become mainstream, bitcoin valuation forecasts for 2021 vary widely, from $ 46,000 to $ 146,000 to a sharp drop reminiscent of 2018. The outlook for the use of blockchain in business is more stable, and trust is becoming a key topic. Many forecasters say growth will accelerate due to the role of blockchain as a key technology for enabling digital transformation based on trust, a trend driven in part by COVID-19. Others say that the adoption and development of blockchain software in banking, the financial sector and DeFi (decentralized finance applications) will also grow, and governments will use this technology by issuing new rules and promoting research on central bank digital currencies. According to other forecasts, the role of blockchain in healthcare, digital identity, supply chains and global transportation will continue to grow.

Protection and decentralization of a company, website, business with individual blockchain software solutions and their vision in 2021?

Using blockchain to protect the environment

A three-year study by the Ford Motor Company found that a combination of blockchain, geofences and plug-in hybrid electric vehicles can improve air quality in cities by automatically activating a zero-emission mode in low-emission zones. Newlight is using Blockchain to track and spread the negative carbon impact of products made from its new AirCarbon biomaterial. Bioenergy company Enviva has tested a tracking system for industrial wood pellets used as a renewable alternative to coal. The WEF Mining and Minerals Blockchain Initiative has completed a proof-of-concept for its carbon tracking platform, which tracks greenhouse gas emissions from end to end in the copper value chain. The UN also announced that it is stepping up work on systems using blockchain technology. The United Nations hopes to introduce this technology to economic segments such as carbon monitoring, clean energy trading and disbursements. The Climate Chain Coalition has already been formed to explore the use of distributed technology (DLT) in climate change and environmental protection initiatives. If the results are positive, it is highly likely that the technology will be deployed on a larger scale. The coalition will work together to support the rapid development of DLT solutions to combat climate change through mitigation and adaptation through enhanced climate change action, including but not limited to measuring, reporting and verifying the impact of all types of interventions and mobilizing climate finance from diversified sources. There are currently 32 countries registered with the new coalition, and the group leading the project is trying to attract the attention of organizations with technological expertise to further validate blockchain systems.

The coalition is not the only blockchain event run by the United Nations. The process of sending humanitarian aid to Syrian refugees using blockchain technology based on Ethereum is already at the completion stage.

All of this indicates that in the future, blockchain and Blockchain smart contracts will be more important to the economy than the Internet. The blockchain market reached $ 415.5 million last year. However, analysts predict that in 2022 it will cost more than $ 7.6 billion. This means an increase of almost 80 percent. Yearly. This proves the scale of this phenomenon.

Ukrainian blockchain application and software development company will help you get started using blockchain technology. Regardless of where you are on the road to implementation or what industry you work in, we, iTizzi Software Development Company (Vinnytsia, Odesa, Dnipro, Lviv, Kyiv, Eastern Europe, Ukraine) are here to help you use blockchain technology to achieve your business goals. Start a custom blockchain project with iTizzi Software Development Company in the right and profitable direction.