Predicted to reach $3 trillion by 2024, blockchain market is moving toward these numbers with meager adoption rates. However big its promise, blockchain can’t boast lots of real-life use cases.

Does it mean that the technology is just overhyped and there is no promise for the real business ecosystem? Not exactly. We dove deep to find out what prevents companies from mass blockchain adoption and how genEOS can help address these challenges.

Poor Understanding of Technology

Business leaders are usually reluctant to implement technologies they don’t understand. It’s often the case with blockchain. The terminology and concepts may be confusing to both consumers and C-level executives, and sometimes even tech people. Little understanding of what blockchain is and how it works can significantly impede adoption.

In addition to that, seasoned blockchain experts are really hard to find on this extremely competitive market.

Solution

genEOS offers a team of skillful tech experts that can help you overcome blockchain adoption challenges. They can assist you in planning, designing, deploying and maintaining your next blockchain project so that you don’t have to search for the right candidates to cover the gap in your in-house team.

Lack of Examples

Understanding blockchain is not enough, though. Realizing how to maximize its potential for your business is another challenging task.

There are multiple blockchain use cases, like secure transactions, protected data storage and decentralized applications. But it’s not so easy to find out what will work best for your particular case and business requirements.

Company executives simply don’t know where to start with the blockchain implementation and can’t decide which business processes to enhance with blockchain. That’s why they don’t rush to incorporate its best practices into the existing strategies.

Solution

The genEOS team can address this problem as well, by providing a fully-fledged blockchain platform that is highly business-focused and offers multiple application development options, whatever your needs are.

Moreover, you can always contact the genEOS team directly for a consultation on the best application scenarios for your specific business needs.

Scalability Issues

The world doesn’t run on blockchain today because business owners can’t get their heads around the practical benefits this technology can offer. They are unsure whether the blockchain tech can scale up to meet their rising demands and withstand large loads.

Of course, blockchain can handle a large number of users in the network, but it might have a trouble maintaining the same level of quality. A significant increase in the number of users may cause issues with the speed and cost of transactions, putting blockchain scalability and effectiveness in question.

Solution

genEOS came up with an efficient solution: to speed up the processes and reduce transaction fees, by introducing an innovative structure of the blockchain platform.

It takes only half a second for the genEOS platform to create a new block. As a result, you can create an unlimited number of transactions in real time, without affecting network efficiency. Consuming less energy and requiring lower costs, the platform is aimed at maximum scalability with minimum loss.

Making the World Run on Blockchain

When considering the adoption of blockchain tech, the first and the most important step is choosing a reliable partner.

If you are not sure how your business can benefit from blockchain or you strive to develop a decentralized enterprise application, genEOS will become your trustworthy and secure partner. Do not abandon blockchain just because you have no idea how to launch. Turn to technology experts and start maximizing your opportunities.