New Line Technologies is led by a team of experienced professionals who have a passion for technology and a deep commitment to delivering exceptional results for clients. The company’s CEO, Andrew Mazepa, has over 10 years of experience in the IT industry and has been instrumental in the company’s growth and expansion into new markets. The leadership team is committed to building long-term relationships with clients by delivering high-quality services and support.

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NLT has a proven track record of delivering successful projects for clients around the world. The company’s team of experts works closely with clients to ensure that their projects are delivered on time, within budget, and to their satisfaction. This has earned the company a reputation for excellence in the software development industry, and has led to long-term relationships with many of its clients.

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Industry-wise, blockchain technology has found various applications, including artificial intelligence. Here’s a look at some statistics:

1. 84% of executives believe blockchain will reach the mainstream eventually according to Deloitte’s 2018 report.
2. 32% of companies are in the development stage of blockchain projects.
3. The blockchain market is expected to reach $16 billion by 2024, according to Fintech Global
4. By the end of 2024, the annual revenue of the blockchain market will reach $20 billion
   

From the traditional agriculture sector to technology – blockchain has been advantageous to all.

Blockchain in agriculture
Agriculture employs 40% of the world’s workforce. That alone should give an estimate of the impact it can have. In 2017, the value of blockchain in agriculture and food amounted to $32.2 million and is projected to grow to $1.4 billion by 2028. 

1. Procurement tracking.
   
   The supply of food from farms to plates involves numerous intermediaries, which increase the cost of the supply. A single link between suppliers (farmers) to buyers (restaurants, hotels, wholesalers) will reduce the cost considerably by cutting intermediaries which increase the cost unnecessarily. Thereby, reducing the cost of food. The transparency will be increased to a large extent.    
2. Reduce food fraud
   The united nation says the food fraud costs the global economy $40 billion per year because of illegal trades. Using blockchain, a tab on abundant supply and illicit trades can be kept.
   

Furthermore, blockchain can be used for crop production by collecting data using IoT and smart devices to make farming processes easier. It can increase production quality.

Blockchain and artificial intelligence

Data security

The data held on a blockchain is highly secure due to the cryptography inherent in its storage system. This can be utilized by data storage systems used for building artificially intelligent systems which require to be fed data collected from various sources.

Companies spend a large amount of money on securing the systems utilized for this. For instance, Amazon and Netflix recommendations that collect our personal preferences to suggest what to buy or watch next respectively. Securing personal data is a costly process. The blockchain database will be highly secure.

Help humans understand AI’s decision making

The way AI makes the decision is a complex process. It involves a number of variables, which is a challenging task for humans. The way AI arrives at a decision is a complex algorithm. As blockchain stores data (variables) auditing the outcomes will be easier and comprehending the decision-making process will easier for humans. In a nutshell, blockchain will be helpful in understanding artificial intelligence.

Blockchain Job market

The blockchain industry has expanded across various industry sectors. Such that demand for blockchain developers and professionals has grown exponentially in the past decade. Paul Dupuis, managing director, Randstad India says, “We believe the number of blockchain practitioners has increased by a factor of 100% over last year, with demand increasing equally.”

Consequently, certified blockchain professionals have grown in popularity. Looking at the demand, best blockchain certifications prepare professionals not only with tech skills but also with the business skills required to develop an eye for the outlook for the industry. 

Blockchain has impacted healthcare, manufacturing, IoT, etc. That’s a small contribution blockchain has made so far. Going by the reports, it will continue to make a more significant contribution. However, who can really tell what future has blockchain? Only time will tell.

You would have probably heard about blockchain implementation across various industries. From healthcare to finance, businesses are manifesting various applications of this technology and developers are working to align with those notions. 

Fundamentally, there are several chaos and challenges that surround its utilization and implementation across various industries. Though, the question is what is making these industries so inspired and driven to adopt blockchain into their systems. 

Well! there are thousands of reasons that boost this urge of industries. Though, certain are more igniting just like security and open access. Let’s understand those aspects that are driving this trend in the contemporary industry space so faster. 

Blockchain – A Boon For Business 

In the recent decade, the hype around blockchain has increased and now you can find its mention on the thousands of lips around the world. The first recognition it received was from the emergence of bitcoin. When this digital cryptocurrency came in the market, every expert was keen to know the mechanism that is straightening this concept. 

Since then, blockchain has gained huge significance across the world, now every industry is looking forward to employing this technology to ensure growth and success. In recent couple of years, several blockchain concepts and end-to-end solutions have entered into the market that are gaining huge recognition. 

In fact, this is an amazing technology that underlies cryptocurrencies. From recording transactions on a public, distributed ledger to eliminate the need for a third party in most cases. This technology is moving various industry operation and infusing ease. With its unmatched potential, it is bestowing businesses with the most incredible and splendid solutions of the age. 

Take a glance over the industries where this technology is being tested and deployed. 

Blockchain For Healthcare

The data is the most critical aspect throughout this industry. Most of the healthcare institutions face difficulty in securely sharing data across different platforms. Blockchain can help in infusing better collaboration between data providers that could ultimately surge the chances of accurate diagnoses, effective treatment and increases the overall ability of healthcare system by just providing access to a secure network for data sharing.  

Gem Health Network has also provided a blockchain network that enables secure and universal data-sharing infrastructure. 

Banking With Blockchain 

Banking is just beginning with blockchain. The deployment is still under testing and analysis. Basically, banks serve as critical storehouses and indulge in transferring heaps of value. It is a secure, digitized and tamper-proof ledger, it could make bank process more effective by injecting improved accuracy and information-sharing into the ecosystem of financial services. 

Besides, it is also able to reduce the cost of cross-border transactions. Altogether, a number of cryptocurrencies are being created with this technology that can somehow change the financial market. 

Blockchain For Voting 

The utilization of blockchain in voting can be revolutionary. As we know that voter’s identity authentication is very essential during the election, besides record keeping with security and trust tallies are important. This technology can create a fundamentally strong and secured infrastructure for tracking, casting and counting of votes. Besides, it can potentially remove the need for recounting in case of foul and fraud. 

Besides, blockchain enables the capturing of votes as transactions. It means governments and voters will have audit trail that will be easily verifiable. Altogether, it will ensure no votes can be changed or removed and no illegitimate votes can be added. There is a one blockchain start up named as Follow My Vote, which has been released the alpha version of its stake-weighted blockchain voting solution.

Blockchain In Education 

Could you think about the this technology’s utilization in the education industry? The most important aspect of this industry is that academic credentials must be verifiable and recognized universally. In almost every education institution especially, primary/secondary and university environment, the process of verifying credentials is mainly manual. 

The blockchain technology can streamline verification procedures throughout the education system, which would result in reduced fraudulent claims of un-earned educational credits. 

Apart from these, there are many other industry verticals where this technology is being integrated. Here are some of the industries that are testing the implementation of this technology. Critical infrastructure security, internet identity &DNS, ride sharing, internet advertising, crypto exchanges, car leasing and sales, cloud storage and many more. 

The Contemporary Blockchain Adoption 

Among the PwC respondents, businesses executives with technology responsibilities, a majority of them said that “trust” could be the major roadblock in the global adoption of blockchain. 

Though, according to the PwC, companies are confronting various trust issues at every turn. As challenges and doubts around blockchain’s speed, scalability, reliability, and security are major aspects.  

The adoption is growing and even high profile investors like Warren Buffett and Jamie Dimon have been publicly talked about the challenges of investing in cryptocurrency, they’re unaware of its underlying tech. 

Even market giants including Amazon, Microsoft, and Facebook are also working on finding the use cases of this technology. In May, Facebook announced that it is going through a reorganization that will work on a blockchain effort. Besides, IBM, Deloitte, Accenture, JP Morgan, and HSBC are also among the companies that have initiated blockchain integration. 

Though the respondents at PwC registered various uncertainties such as “ability to bring the network together,” ‘compliance concerns’, and even concerns related to intellectual property. Which are being considered as key obstacles for blockchain adoption.

Altogether, Blockchain’s potential also has been compared to the internet. With the growing interests, as per Cowen estimated that this adoption will take 5.9 years to grow globally and permeate throughout the world. 

From now, it would be clear to you how this is changing the world around us. Besides, its utilization of blockchain is growing in mobile applications. Mobile application development companies like LeadMuster also exploring its uses in apps to provide people with high-grade applications. To know more, stay tuned.