Is it time to re-invent the cloud with blockchain?
As we enter the second quarter of 2019, I noticed an increasing interest in the blockchain technology across all industries. So it was not surprising to find out that the global blockchain market size is expected to grow more than 80% by 2023 as reported by Markets and Markets. Impressive, but even more so, blockchain could be used in more than one way to re-invent cloud computing. Below is an overview of how these two technologies are interconnected.
Is there any link between cloud computing and blockchain?
We are all familiar with cloud computing because we use it almost daily and it makes our lives much easier in and out of work. Some people are still skeptical about Block Chain. The good news is that in 2019 that’s about to change as blockchain seems to be the answer to many of cloud computing’s problems.
Moving to decentralization?
Many organizations are centralizing their company’s information in the cloud to share data in a much more efficient and less costly manner. The main challenge with centralized cloud-computing is dealing with the constant risks of data breaches and service interruptions. This is where blockchain should offer some benefits.
Cutting out middlemen?
The traditional cloud-computing solutions currently offered most likely by one of the three giants in the industry, Amazon, Microsoft or IBM. Blockchain technology solutions aim to provide more options without middlemen. They connect businesses and creative professionals with render farms directly, which means that the customers’ data remains in the hands of the owners instead of being stored inside a third-party infrastructure. This reduces the data breach risks, not to mention the reduced costs for the end customer.
Blockchain is not here to replace cloud-computing but merely to solve some of its issues and make it work better. We can look at it as a complementary technology, opening the horizons for new business opportunities. With blockchain-powered cloud solutions, you can start decentralizing your company’s information stored in the cloud, which means reducing costs, higher protection for your data and better reliability.
Do you think blockchain could be used to re-invent cloud computing? Share your thoughts in the comments section below!
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