Blockchain is the biggest "tsunami" in 2016

Rage Review : Excelian, a technology consulting company owned by software development company Luxoft, released its latest technology research report, analyzing several emerging technologies in the big data era, among which disruptive blockchain and Internet financial technology are the core propositions, and blockchain technology is called the biggest "tsunami" in 2016, which shows the great impact of this technology. The report divides the technologies of various industries and enterprises into four categories according to the research stage, analyzes various reasons, sees the current technology development trend, and predicts the prospects of future blockchain development investment.

Translation: Annie Xu

Excelian, a technology consulting firm owned by Luxoft, a multi-billion dollar software development company, recently released its latest technology research report, "Big Data: Technology Special", which mentioned the most important disruptive technologies, Internet finance and blockchain.

Blockchain is in the investigation stage

The report has a section titled "Three Techs to Track," which lists three technologies that companies need to understand and analyze. One of them is blockchain, which the Excelian research team described as "the biggest tsunami of 2016."

The research report highlights the speed of blockchain development and says that the U.S. blockchain development community is very active. Here is a partial excerpt:

“They say there are blockchain conferences every day in the US, so it’s not surprising to see early innovators going crazy. Internet finance has begun to rise, and traditional companies have joined the R3 alliance to actively meet challenges and threats instead of waiting to be disrupted by new players. This is a long hype cycle on both sides that has not been seen for a long time, led by the industry on the one hand and technology on the other.”

Limited by regulatory conflicts and severe security situation

Despite the enthusiasm of enterprises, banks and financial institutions for blockchain technology, Excelian believes that the technology is still in the exploratory stage. The company's research team has divided the many technologies supported by enterprises and investors in 2016 into four categories: stagnant, investigation, testing and application.

In particular, the team cited several examples of blockchain platforms and startups, including Ethereum, R3 and Corda, which have raised millions of dollars in funding. The Excelian blockchain project is in the investigation phase, while Google Cloud Platform and Azur are listed in the testing phase.

A more precise classification of blockchain projects is that they are basically in the investigation stage, mainly because banks, businesses and regulators have not found a way to apply the technology to existing systems. Currently, they are stuck between regulatory conflicts and severe security situations.

Complex but promising technology

Yet the company still recognizes the potential of blockchain and believes that the financial industry is investing billions of dollars to make blockchain the technology of the new century.

One section of the report states:

“It is remarkable that a technology created to disrupt banking and money management has been embraced by the financial services industry and even recognized to a certain extent by the financial regulators it is intended to replace, as we know it. In fact, the continued enthusiasm is driven by business leaders, which is a rare phenomenon for a complex emerging technology.”