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In the recent survey released from PwC, “Four out of five executives surveyed report blockchain initiatives underway.” With many blockchain initiatives and investments made by banks and private equity groups, leaders from across all industries are looking to collaborate on how to build an ecosystem within blockchain that solve for the current adoption barriers to date of trust, regulatory uncertainty, and scalable, integrated technology. The crypto-winter and volatility that is currently upon the industry, can be seen as an important transitional phase, where the many technologies are being invested and tested to see which ones will stand up and take blockchain to the next level, beyond the hype.
Why is blockchain worth considering as the biggest technology revolution since some say, the Internet boom? It’s twofold; for starters, blockchain has the exciting possibility to be applied to many industrial entities, such as manufacturing or healthcare, “blockchainizing” or disrupting these industries. Blockchain helps to improve productivity and reduce production redundancy, which is highly desirable for many of the world’s largest companies to seek out how they can apply blockchain in their space. Secondly, asset tokenization, the method of converting the rights to an asset into a digital token, is one of the biggest potentials blockchain has to innovate the way businesses transact. Bringing enormous low-cost liquidity to assets, making it easier to trade, and increasing authenticity, transparency, and efficiency.
“Blockchain is still in very early stages. There are lots of teams trying to build infrastructure solutions trying to make it simpler. Same goal with different approaches. Where Alza stands out, is that we are trying to accelerate every single transaction to maximize user experience. We’re trying to solve the global synchronization piece by piece, from the bottom up.” –Eric Lee, Co-Founder, and CTO, ALZA.
During this period of crypto-winter, blockchain is posed to propel forward, creating a system of
resources, technology, and connections from within to stabilize the outside industry. And it might not be all bad. This is a time when fake projects will die off and the real solutions will survive. Companies like ALZA take the time to focus on the technical side of blockchain processes and getting it right. Eric Lee believes in that, the strong technical foundation of projects is always the best weapon to conquer the “nature hazard” of getting through the cold winter. Each project must have the ability to self-grow rather than fully relying on investors’ contribution. It is insufficient and impossible for each one to survive the winter alone. The increased collaboration, exchange, and sharing of the resources across the blockchain world will strengthen the market as a whole.
ALZA is building systems that enable businesses to build and facilitate faster and easier commerce activities has the ability to evolve the entire infrastructure of trade and exchange, much like the internet gave way to creating trade and exchange online and a new way of doing business and generating profit. For traditional financial markets, asset securitization is not a new challenge, with relative mature solutions provided. However, many of the blockchain solutions currently in the market, apply a similar transaction process formula that the traditional financial markets have, so there is much room for future improvement for decentralization and efficiency both on and off the chain.