Blockchain technology is transforming virtually every sector in the economy. Yet each of these sectors has a large percentage of businesses that haven't adopted the technology yet. The reason for this apparent dichotomy is the lack of a seamless and hassle-free pathway to adoption.

In mid 2022, in anticipation of what is likely to be huge unmet need, Qila launched an Infrastructure-as-a-Service model, to address this exponentially growing need.

This approach couldn’t have come a moment too soon. A recent estimate by MarketsandMarkets puts the global Blockchain market at around $94 billion by the end of 2027 – at a CAGR of 66.2% in the preceding five years. Gartner estimates a global business value of $3.1 trillion by 2030. The same Gartner report also estimates that Blockchain-based systems will govern between 10% to 20% of global economic infrastructure, by the end of this decade.

As a concept Blockchain is both breathtaking in its scope and stunning in its simplicity. In five minutes or less any inquisitive mind can begin to grasp just how dramatic a change the technology can make.

Innovation tends to occur sequentially. The world was already well aware of the power of data in optimizing virtually any given system. IoT and AI based systems have now been taking advantage of real-time inputs to produce unheard of efficiencies. Likewise Big Data has unlocked faster, better and more personalized services in every walk of life. So what was the one vulnerability that could be the undoing of these systems and process enhancements? Data integrity of course! Blockchain technology’s distributed ledger system ensures that any stored data is totally tamper-proof.

Setting aside big business, even the average consumer has now become accustomed to digital service provision that is underpinned by their personal data. In this scenario, the issue has been reconciling privacy with this next level in convenience. In this case the solution was to replace sensitive data with Tokens that could not be used maliciously by cyber-criminals.

NFTs (Non Fungible Tokens) also unlocked a whole new way to transact and exchange value. We are all familiar with the booming cryptocurrency markets, but trading everything from art collectibles to fractional real estate has been enabled by this innovation.

In an overlap of the immutable Blockchain records and Tokenization of such information, businesses are now also able to assure customers of complete transparency of process and authenticity of products. This has proved gamechanging in sectors as diverse as luxury goods and medical implants.