UPDATED MAY 2020 - This blog will appear monthly from now on. Today, all organizations depend on technological innovation in order to sustain their existence. Analysis of emerging technologies and identification of those technologies with the greatest potential is essential to being prepared for upcoming projects. The objective of this blog is to establish future oriented technology analysis and insights. This blog was established to provide program and project managers with information about these emerging technologies. These emerging technologies have far reaching repercussions for program and project managers. This blog will jump-start the learning process and allow program and project managers to become proactive.
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| So, Deep Ledger Technology is another name for Blockchain. Blockchain is a relatively new and emerging technology that is commonly referred to as a ‘Digital Ledger.’ It is a list of records (referred to as blocks). It allows digital information to be entered, distributed, but that information is not allowed to be copied and most importantly it cannot be altered. That makes this highly secure and very desirable for a wide variety of applications. It first appeared as a core component of cryptocurrencies. Here is a link to a webinar on cryptocurrencies. Although a bit dated now (April 2017), it sets much of the foundation.
LINK: https://www.projectmanagement.com/videos/380495/Cryptocurrencies
The Blockchain overall market is projected to grow to $169.5 billion by 2025 from a mere $1.3 Billion in 2017. That is very aggressive growth. Many believe with the explosion data we are currently experiencing and that is expected to continue, these estimates of dramatic growth could be highly likely. In 2018, IDC estimated that data will grow to an astonishing 175 zettabytes worldwide by 2025. It is clear, that much data, demands aggressive management techniques. When asked if Blockchain was a strategic imperative a limited number of respondents felt as follows, only 15% said YES and 35% said NO, with the remainder stating they were unsure. It should be noted, many professionals are not really sure what blockchain is, or how the technology can be used. Clearly blockchain appears to be following Gartner’s Hype Cycle
Gartner’s Hype Cycle – LINK: https://www.gartner.com/en/research/methodologies/gartner-hype-cycle
There is little question, blockchain holds the promise of solving many of the data management problems we currently face as well as reducing our costs. There are a number of new products and services that leverage blockchain that have the potential to become commonplace throughout the digital world. This is another of the many emerging technologies that appears to be on the horizon with disruptive potential. As such, program and project managers should familiarize themselves with the technology.
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Posted on: January 02, 2020 11:05 AM
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