The Future of Blockchain and the Challenges Ahead

We, as its authors, certainly hope that this book has been an interesting, informative, and educational journey bringing forth not only the Hyperledger centric landscape for blockchain technology projects but also an overall business perspective that explains the challenges and adoption patterns that follow. This has been an interesting project for all of us, given the rapid changes of pace and evolution in the blockchain technology landscape and Hyperledger frameworks and tools. We have attempted to ensure that the content not only provides a basis for a strong foundation but also provides deeper insights into some of the core elements of blockchain business network solution design. As active members of the blockchain technical community, technology, and thought leaders, we all believe that we still have a long way to go with regards to solving some complex issues such as a privacy, confidentiality, scalability, and network centric approach to code and infrastructure management leading to an economically viable solution with predictable transaction costs. This, in our opinion, is an important consideration as the business model that run the business network depends on the cost and predictability of network processing regarding transactions.

Looking ahead and beyond the scope and context of the topics covered in this book, it is vital to view the gap between today's centralized managed world and a complete decentralization of every aspect of business transaction as a spectrum. The path to complete decentralization and achieving the full promise of the blockchain is not an easy one. The transformational projects undertaken by industry leaders and industry consortiums are to be viewed as an effort to understand the technology, trust, and transactions risks. This is done prior to completely transitioning to the decentralized world most, which is often professed by the industry challengers or startup entities. The spectrum itself is interesting and innovation is incubating on both sides of the camp. It is vital to understand industry-specific innovation and adoption patterns, as it may indicate the readiness for production grade blockchain-powered business networks.

Each chapter in this book has been carefully chosen to ensure that the readers are well-equipped to consume the right content at the right depth. Yet, they are to meaningfully address the broader level of discussion and implementation details one needs to have to address the blockchain-based business and technology design for projects beyond the proof of concept (PoC). As practitioners, we have experienced first-hand the challenges of production readiness both from a business understanding and technology acumen needed for a device core blockchain network design that lays the foundation of the multiparty transaction network with built-in trust. The severe shortage of acumen, taxonomy, and common design patterns has been our primary motivation in expending our energy and time in devising the content of this literature.

We would like to end this book by providing a summary and highlights of some vital topics and tie the thematic elements of various chapters to ensure a cohesive understanding of the technology landscape, HL projects, the divide between the enterprise-driven blockchain technologies which are primarily transformative, and the crypto asset-driven world as a challenger and disrupt or to every industry that aspires to employ the blockchain to transform and reinvent their industries. Regardless of the path, it is vital for us as a community to understand the motivation and technology advancement of both sides of the camp, as the innovation and resulting reinvention of business models will lead to new economic values aiming to change the world as we know it.

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