Although blockchain technology is known as the underlying technology of cryptocurrencies, especially in the last 5 years it has begun to manifest itself in almost every aspect of life. Blockchain technology, which is used in everything from agriculture to logistics, logistics to payment networks and charity campaigns, has now attracted the attention of even the financial services company Moody’s.
Moody’s estimates that blockchain technology will become standard by 2021 and will become quite common. In addition, the financial firm said that blockchain will become uniform by 2021, which could have very positive results for the future.
Such standardization can then save considerable savings in terms of both time and expense and can bring automation through faster data transfer.
Moody’s also believes that industry standards can be raised much more through increased cooperation and that this is a move that will bring about the expected rise.
Frank Cerveny, a senior analyst at Moody’s, said he thought standardization would lead to better cooperation, which could reduce the risks associated with regulation.
Blockchain continues to be used by a new world giant every day, and Continental made a quick entry into the industry last week. In addition, the sector where experts are most hopeful about blockchain is the financial payment and transfer sector. Companies such as Ripple have already managed to connect hundreds of banks with blockchain-based infrastructure.