There is no doubting the fact that there are massive potentials for blockchain technology to transform the world. This has been shown in every field of human endeavor.
Blockchain technology has been deployed in the medical industry, engineering, and most importantly in the financial industry. But one thing stood out, governments and a lot of investors were at best, wary of the wholesome adoption of the technology.
The reason being adduced by everybody is that blockchain is not regulated. For blockchain to be widely accepted, there will be a need for some level of assimilation with the traditional way of doing things.
Blockchain as technology came up with a true peer-to-peer borderless transfer of value and innovative ways to raise capital or invest in promising projects, but then, there are two sides to a coin. One major use the blockchain was first deployed for, was the cryptocurrency, which a lot of people have variously used as a primary exchange of value for illicit activities, you can’t also wish away the fact that many investors have been scammed off their resources through shady ICOs.
It was sweet music to the ears when Zurab Ashvil, founder and CEO of L3COS came up with the idea of the world’s first regulated blockchain-based operating system. “Without a single universal platform for governments, businesses and individuals worldwide, there is no practical solution for addressing the underlying blockchain problems that we are facing today,” Ashvil says.
I talked with my Engineer (IT) friends. They agree at present Blockchain is very good technology ( I don't have expeties in technology ). They are of view , it is best suited for Internal environment like, within the organisation, for a specific project etc.