BLOCKCHAIN LED SOFTWARE DEVELOPMENT THE FUTURISTIC OPTION

Blockchain can very well be considered as one of the significant contributors to the upcoming computing prototypes. It is although in its very early stage but still it is continuously in demand by the new users. They are constantly exploring  the exponential value and potential put forth by  the technology.

Blockchain software development can no doubt attribute the software companies with great worth in developing digital products leveraging innovation extended by the technologies. The best part being they delivered across multiple channels. The ability of blockchain to share real time data in a secure way over various entities, automating transactions, and initiating settlements via smart contracts is definitely a great opportunity. It will aid more efficient deliveries and will offer enhanced security to the software products.More and more the Software as a Service (SaaS) model being adapted, high customisation is becoming essential. Thus blockchain is becoming a prerequisite for the software industry in terms of the products value chain.

WHY BLOCKCHAIN?

Blockchain is basically a transparent, decentralised ledger system constituting records of multiple transactions. The database is constantly updated and shared across several network nodes and is monitored by everyone. It is neither owned nor controlled by any one. It can be compared to a huge interactive spreadsheet whose data can be accessed by everyone. The updates can be viewed and unique digital transactions can be confirmed. Although, there is a vital difference that an update to an existing transaction always appears in a block and the actual one is never overwritten. That’s an advantage indeed. Thus the blockchain feature of having immutable data makes a trusted option and the transactions remain safe and secure at all times. At the same time the transactions remain traceable due to the cryptographic coding option blockchain is attributed with. The capability to develop and activate the smart contracts across participants offers automation as well.

There is a rapid change to be observed across the domain of technology and the operating models in the software product industry. Utilising everything as services or implementing platformization is largely in trend right now. The cloud-based Software-as-a-Service (SaaS) products are steadily being developed by software companies and customers are also migrating to subscription based models at a faster pace. The need for customising the products across channels like laptop, mobile, desktop, or wearables is becoming a priority. So, there is huge advancement all over the technology arena and the software industry must adapt to it ASAP. Integrating the blockchain software development framework would be a great initiative no doubt.