Blockchain Can Be Perfectly Integrated Into IT Services

A technology for the future, blockchain has been the buzz word in the tech industry for quite some time now. Known primarily for being a base technology for cryptocurrency, blockchain has gradually proved its worth beyond just digital currencies.

The recent IDC report titled “U.S. Government Blockchain Spending Forecast, 2019–2022: Healthy Four-Year Growth Predicted for Government Blockchain Spending” reveals that investments in blockchain technology are on the rise.

“It addresses a lot of issues about data accuracy, ownership of data — I like to use the term data authority — and being able to have a record of all changes made to X,” Shawn McCarthy, research director at IDC Government Insights and author of the report, told GCN. “X could be a piece of data sitting in a database. X could be an order that eventually includes a change order for something that’s being built or something that’s being purchased for the government…. It creates a record that can be confirmed and double-checked and agreed to by all parties.”

One sector that should definitely consider adopting blockchain technology is the IT sector. It would find its most worthy use in the IT sector, as it could become a part of middleware or a microservice. It could be used in other applications which can attach cryptostamps to transactions, assets and system access permissions.

Due to the security and immutability that blockchain offers, it would automatically be a great fit for the IT industry. The report states that asset management, identity management and smart contracts will be the leading blockchain solutions in government.

McCarthy who is deeply involved with the report said that:

“Because it’s part of a larger system tacking other things together, the IT services component related to that becomes important and it becomes fairly large,” he said.

Blockchain can either be built itself by the IT industry, or they can hire a third-party provider build, install and manage the distributed ledger for them.

“It’s going to be one more knob on your dashboard,” he said. “You’re not going to be thinking about it as much as you’re thinking about it right now.”

Blockchain could thus be a crucial backbone for the IT products, and eventually become “invisible” as it is baked into systems.