Gartner's Top Ten Strategic Technology Trends in 2020: Blockchain will be fully scalable by 2023

Source: Interchain Pulse

Recently, Gartner released the top ten strategic technology trends in 2020, including blockchain technology. It is also pointed out that the blockchain has been applied to experiments and small-scale projects, and will be fully scalable by 2023.

Gartner stated in his strategic planning vision that by 2023, the blockchain will be technically extended and will support trusted private transactions with the necessary data confidentiality.

It is also introduced that the blockchain is a distributed ledger, which is a chronological list of transaction records that are shared by all participants in the network, encrypted and signed, and irrevocable.

The blockchain also allows the parties to trace assets back to their original source, which is beneficial to traditional assets and paves the way for other uses, such as traceability of foodborne diseases to the original supplier. It also allows two or more parties not aware of each other to securely interact and exchange value in a digital environment without the need for centralized permissions.

The complete blockchain model consists of five elements: shared and distributed ledgers, immutable and traceable ledgers, encryption, tokenization, and distributed public consensus mechanisms. However, due to a range of technical issues, including poor scalability and interoperability, blockchain is still immature for enterprise deployment.

Today's enterprise blockchain takes a practical approach to creating a complete block of authoritarian records of major events simply by making the ledger independent of individual applications and participants and replicating the ledgers in a distributed network, thus implementing only the complete block Some elements of the chain. Everyone with access can see the same information, and only one shared blockchain can simplify integration. Consensus is handled through a more traditional private model.

The following is the part of the report that covers the contents of the blockchain: (pay attention to the inter-chain pulse, the background reply: 2020, you can get the full report)