Extending the blockchain Blockchain technology
Blockchain
technology is often associated with cryptocurrencies, but this
innovative technology can be used beyond that space. Companies are
looking for ways to integrate this new technology into their IT
infrastructure. Red Date Technology, a blockchain infrastructure
builder, launched the BSN Spartan Network, a network that integrates
many non-cryptocurrency public blockchains. Hong Kong was the best place
to launch the network because of the opportunity to develop use cases
with large international firms. Mainstream companies with traditional IT
have been drawn to the BSN Spartan Network because they realize that
they can leverage blockchain technology without participating in
cryptocurrency. This understanding should lead to increased use of
blockchain technology by mainstream companies to solve specific business
problems. Hong Kong's outlook for blockchain is positive. In addition
to its expertise in financial services, the city has a strong venture
capital community eager to invest in startups. The government also
supports the technology through grants and programs, such as a
commercial data interchange based on blockchain technology that is
expected to link SMEs' company data before the year is over. It won’t be
long until blockchain is part of the standard technology toolkit, as
Red Date's Vice President of Global Sales, Tim Bailey, predicts that
blockchain will become mainstream when people stop talking about the
term.