Blockchain — which has been hailed as a game-changing technology that could revolutionize whole industries — will be so commonplace in 2019 that it’ll become “boring,” according to the MIT Technology Review.






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“In 2017, blockchain technology was a revolution that was supposed to disrupt the global financial system,” the Technology Review claimed. “In 2018, it was a disappointment. In 2019, it will start to become mundane.”



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MIT observed that distributed ledger technology has been widely praised for its potential to transform healthcare, banking, supply chain management, and even the entertainment industry.



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MAJOR PUSH BY WALMART AND WALL STREET


MIT said the move to normalize blockchain in 2019 is being facilitated by mega-corporations like Walmart and by institutional momentum building on Wall Street.


“Walmart has been testing a private blockchain system for years as a food supply tracker,” the Technology Review noted. “It says it will start using the system next year and has instructed its suppliers of leafy greens to join by September [2019].”


walmart and carrefour use blockchain to track produce
Walmart and Carrefour are using blockchain technology to track the movement of fresh produce. (Pixabay)


This follows a similar move by French grocery mega-chain Carrefour, which is using blockchain to improve food safety by tracking chicken, eggs, and tomatoes as they travel from farms to stores.


Carrefour — Europe’s largest retailer with over 12,000 locations around the world — says blockchain can help it detect and prevent outbreaks of salmonella linked to eggs and poultry, which are a major problem in the food industry.


A recent report indicates that the auto industry is also betting big on blockchain. Auto executives believe that the blockchain promise of secure, traceable transactions and improved transparency of information can streamline supply chain management.