Press Release (ePRNews.com) - PETALUMA, Calif. - Sep 10, 2018 - The blockchain revolution is here, and executives across many industries are speculating how it could shake up their sector. Deloitte, a global consulting and auditing company, says blockchain is gaining traction and moving from the realm of “blockchain tourism” to the exploration of its potential practical applications for businesses. What started as a decentralized ledger for cryptocurrency may very well end up being integrated into industries across the spectrum. Frere Enterprises, a company focused on integrative technological solutions for businesses, takes a look at blockchain and the many predicted applications it could have.
“Whenever a new technology is developed, it’s always an exciting time,” said Brandon Frere, CEO of Frere Enterprises. “What starts as a solution to one specific problem can end up having endless other applications. The solutions compound.”
What makes blockchain so intriguing are the many different ways that industries are predicting they could integrate the technology into their business practices — and many of them are ones that wouldn’t necessarily come to mind. Those in the entertainment industry believe blockchain’s decentralized ledgers and data storage could reduce the need for media gatekeepers, democratizing the monetization and distribution of media and creative goods. Game developers predict it could be used to make people’s avatars be able to be transported from game world to game world, keeping all of an individual’s collected items and customizations. In education, blockchain could hold promise for more efficient record-keeping and streamline the current manual process of verifying academic credentials.
Whenever new technology is developed, it’s always an exciting time. What starts as a solution to one specific problem can end up having endless other applications. The solutions compound.
Recently, energy researchers and blockchain experts told Congress that the technology could help utility companies have better power grid management, and suggested that this could also potentially allow the energy market to open up in a way so that consumers can choose where to get their electricity from. Blockchain may also be a key in identity theft prevention. If someone wants to steal identity information, much of the data is centralized, like at a credit agency. Having people’s information in a decentralized system means there is no server to hack. The hacker would have to request a copy of the information, which wouldn’t be granted without permission, like the use of a biometric key. Voting security, an issue that has repeatedly come up since the 2016 election, could also benefit from blockchain in various ways. Some predict that it could reduce the need for hackable voting machines and pave the way for a secure online voting system combined with smartphone identity confirmation. Reducing the need to go to a polling place could potentially increase voter participation.
“When you read about all the ways that blockchain could be utilized in the future, it really gets you thinking about all the possibilities,” said Frere. “It feels like there is unlimited potential for most industries to find a way to put it to use.”
About Frere Enterprises
Run by CEO Brandon Frere, Frere Enterprises is a California-based company with a global vision based around the usage of special financial technology, or SpecFinTech, with a current focus on financial wellness and productivity.
He has designed and created multiple companies to meet the ever-demanding needs of businesses and consumers, alike. Frere’s website, www.FrereEnterprises.com, is used as a means to communicate many of the lessons, fundamentals, and information that he has learned throughout his extensive business and technological endeavors. Through Frere Enterprises, he aims to apply those lessons to other business opportunities.
Frere Enterprises’ mission is to acquire traditional businesses and digitally transform them to meet and exceed modern day demand. This mission seeks to transform such businesses by developing the newest and most evolved technologies to speed up the evolution of financial services in order to meet the demands of the modern consumer and exceed the potential of the modern era.
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