Blockchain isn’t only Cryptocurrencies

Blockchain isn’t only Cryptocurrencies

As the world continues moving towards Blockchain based technologies it is easy, when watching the news, to surmise that Blockchain and cryptocurrency are irredeemably entwined. Whilst it is true that nearly all cryptocurrencies are linked to Blockchain platforms, Blockchain Technology has myriad uses that do not touch, let alone rely on, cryptocurrency.

For web based technology to transition significantly into Blockchain a number of conditions will need to be satisfied. The above mentioned perception that blockchain and cryptocurrency are the same thing, whilst frustratingly inaccurate, is not a major barrier to the transition. That said, the volatility that persists in cryptocurrency markets does cast its shadow over Blockchain Technology giving some credence to the idea that all things connected to cryptocurrency are unstable and risky.

However, the large number of major players (including Countries, multinational companies, as well as Tech Giants) that are developing legislation, ideas, and products based in Blockchain will prove to a wider global audience that the two are not the same thing. Mainstream products and services provided by these large players will show the world that Blockchain Technology will provide greater security and transparency and a new ‘normal’ will be established and trusted.

So, if perception is not a major barrier to Blockchain Technology development what is? According to DAXX there are around 25 million software developers in the world today. However, the number of Developers with Blockchain experience is a tiny fraction of this figure. The Blockchain jobs market has seen an expansion in recent months and various sources indicate that the number of Blockchain Developer jobs has increased by well over 500% in the past year. In recent months major players made splashes in the media with announcements of large hiring plans, however their subsequent failures to secure the numbers they were hoping to hire was less newsworthy. This failure has been due to the lack of experienced candidates not the very attractive employment packages on offer.

This then is what we see as the most significant hurdle that needs to be overcome to enable Blockchain to become the pre-eminent basis of web based technology.

When Chainlify first began developing ideas based in Blockchain we went out into the market looking for the ‘tools’ with which to speed up the progression of our product’s development. There were none! Our idea to develop our own developers ‘toolbox’ to facilitate in-house project expedition has led us to fully develop the idea of an intuitive, GUI filled platform that will lower the entry level skill/experience requirements allowing mass access to Blockchain developers.

The Chainlify Platform will seamlessly interface with the Platforms being developed by the leading cloud service providers, whilst allowing developers to maintain control over their own projects by not ceding control to the Platforms they attach to.

This article began by arguing that Blockchain and Cryptocurrency are not the same thing nor are they necessarily co-dependant. That said, Chainlify has issued its own Cryptocurrency the CFY utility token. Sale of the token has enabled us to test all aspects of our Platform and prove its concept. The Chainlify Utility Token will play an important part within the developing Chainlify community. It will be accepted by Chainlify in payment for goods and services provided by the company and have a real Fiat based value which is currently planned to be 1CFY = GBP0.10. CFY will also be encouraged as the currency of choice within the Chainlify community for Developers and Clients also for the exchange of goods and services. Users of CFY will obtain cost savings and expeditious service.

By Glyn Craig on 14 August, 2019

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