Blockchain is best known for backing bitcoin and other cryptocurrencies that makes financial transactions safe without a physical bank or similar institution. But the technology could soon change the way human resources leaders handle all sensitive data. This technology combined with Cloud computing can help companies achieve the economies of scale via lower variable cost because usages from millions of customers are aggregated in the cloud. This results in an increase in agility and efficiency for the organization since it reduces the time and cost to experiment on various aspects.
With new entrants in the cloud space offering competitive and reasonable prices, the procurement of software license and compliance is no more a nightmare for the SME’s and Private consultants. In the days to come, we may see a new protocol in place by new blockchain regulated smart contracts to purchase a software license at a much cheaper cost and with a higher degree of data privacy due to decentralization.
Simplifying Things for a Better Future
Behemoth organizations like AWS, Azure and Google to name a few that dominate the cloud computing space are all based on a homogeneous network. This means that all of their servers are the exact same and all clients pay the same price. This keeps pricing simple for the providers but doesn’t give clients any options.
In contrast, things will get more simplified with a heterogeneous cloud computing Infrastructure. The blockchain protocols govern the network, align provider incentives with computing resource quality giving choices and transparency to the cloud client market. This will bring great elements of modularity and speed leading to better efficiency and output as well as reduced prices.
Offering Seamless Quality of Services Across Different Domains
Erstwhile, the demand for automated and innovative implementation of cloud and Artificial Intelligence were confined to a few providers. But, with the proliferation of the internet of things and host providers the entire landscape of Information technology has changed drastically.
Blockchain technology will bring trust and transparency to clients and providers and fast peer-to-peer contracts and transactions. It’s a backbone technology for platform users, but very important for the community to see the network size, volumes of contracts and tamper-proof quality of provider nodes.