2021: What's next for permissioned blockchains

The new year is finally approaching. So it's time to review what this 2020 pandemic gave of itself and write what we expect from 2021. And since it cannot be otherwise, I have to do this analysis with a focus on one of the most futuristic technology, BLOCKCHAIN.

Many of us have continued for 9 months with the operations center in their homes. We already know how much the pandemic has done for the digitization of all types of companies. Our work and personal relationships have moved to the cloud. Also, a good part of the operations and transactions of companies are now completely digital.

In this context, new needs and challenges emerge that require extra trust. Trust between two parties, that each of them is who they say they are. Security that the information exchanged or consumed by one of them is true. Guarantees that digital transactions are completed in the physical world. In short, absolute trust as a way to build a reputation. In this way, the higher / better reputation, the greater the chances that, in the digital showcase, ‘my service’ or product will be chosen.

The best way to build that reputation is with good execution. And, the easiest way to demonstrate execution is with BLOCKCHAIN. Thanks to blockchain we allow anyone to verify that the processes or tasks have been executed as we say. In addition, other principles such as sustainability and ethical sourcing or respect for the environment come into play. Thanks to blockchain we can also demonstrate how we produce our products by applying these principles. All of this adds up to building that reputation.

The pandemic has pushed us all into the digital world. And, as a collateral effect, it offers those of us who work in blockchain an enormous opportunity to capitalize on that need to easily demonstrate the correct execution of our operations as a basis or pillar to build that much-needed reputation. We can build a reputation based on verifiable evidence that we build by adding Blockchain to our products and solutions.

But, it is not worth that the need exists. Any company should be able to build that reputation in the digital world with blockchain. We cannot require our SMEs and entrepreneurs to hire Blockchain experts. Nor they are going to spend time and resources understanding how to apply technology in their processes to build that reputation. It is the responsibility of technology companies to offer simple solutions. Simple solutions that allow companies to benefit from the advantages of Blockchain easily and quickly.

That is why I believe that, once we have left behind the mantra "I want a blockchain", in 2021 we will see how many small companies begin to use blockchain in an almost transparent way. Blockchain is going to stop being a claim to raise financing or appear disruptive. In the coming months, a multitude of products will help eliminate these adoption barriers. Blockchain is going to become a tool that almost anyone will be able to use. We have an obligation to make the "Blockchain for all/everyone" a reality.

For the new “Blockchain4All” mantra to become a reality, we need a milestone equivalent to the iPhone on the Internet. Before the iPhone we talked about the Mobile Internet. That version of web pages with special browsers, the WAP, the WML, the captive access portals. Available content that no one accessed. With the arrival of the iPhone, everything changed and anyone was able to check the stock market, social media, news etc.. Similarly, many voices are clamoring for a complete redesign of how blockchain interacts. Of course, in the world of wallets and key and identity management there is a challenge. But beyond that, the very orchestration of services and technologies must be re-thought from a needs point of view.

We have to apply to blockchain the principles of user-centered design and their unquestionable needs in other disciplines. If I need to trace the origin of an orange, I cannot worry about the cryptographic key of the orange. If I want to verify if it comes from Spain or Greece, I do not have to use a hash. I have to do it all through one click, or one-tap-app hit, as if opening the weather app.

The other barrier to making blockchain accessible and universal is fragmentation. An entrepreneur who has already found out how blockchain can help him finds himself today in doubt about which technology to use. You must choose between deploying your own network or using a Blockchain as a Service (BaaS) - SaaS type service. Even analyze the advantages of joining the thousand and one consortiums.

The companies that finally launch are deploying their own environments. There are large projects with complex replicated infrastructures. Many of them use little more than 10% of the available capacity. From an economic point of view it seems obvious that we are not developing an efficient market. Now that the technology is mature, projects scale and it is necessary to take charge of the operation, administration and supervision of the environments. Specialized services in the management of this infrastructure are beginning to appear.

There is a lot of talk about network interoperability. More than interoperability, convergence will prevail. And it's going to do it for such a prosaic efficiency reason. The operation teams will look for synergies that make it possible to simplify the environments and reuse the capacities to the maximum. Different use cases will coexist in multipurpose networks of the same company. Cases of different companies will also coexist in shared networks. We are going to abandon networks verticalized by use cases and operated by consortia.

Therefore, we speak of convergence instead of interoperability, applying efficiency criteria to maximize the return on deployed capabilities. The sector consortia will be relegated to discussion forums to find use cases. Instead, blockchain network operators will emerge that offer their services to different companies while lowering costs. It is going to be a movement similar to the one that occurred with the virtualization of systems in the jump to the cloud.

Collecting, during 2021 blockchain will continue to help companies face their digitization with guarantees. For this, it is expected that the market will receive new products that simplify and democratize blockchain.

On the other hand, the proliferation of private networks and vertical silos will make the convergence of ecosystems inevitable. Forums like Hyperledger, Corda or Quorum are going to be key to determine what degree of interoperability between networks is desirable and / or necessary. Companies are going to be the ones who determine what they ask for from blockchain, their specific needs. The market and technology providers will say how they can satisfy them and the different solutions and networks will converge. Not out of necessity or conviction, but out of mere criteria of operational efficiency #CreateTheFuture #GetItDoneTogether