Blockchain technology is one of the most popular buzz words that has climbed to the summit alongside other terms like Cloud TOS and automation. This technology has circulated across different industries and even traded in the global stock market. But is it threatening to disrupt the Container Handling Industry or is it going to engender an innovative revolution that will transform the way terminals handle their finances?

As a new entrant in the container handling and shipping industry, blockchain technology threatens reformation on conventional financial practices conducted in a terminal. Its capabilities of being an incorruptible digital ledger of economic transactions have earned its trust by many individuals, companies, and organizations. Another component contributing to its substantial reception is that the technology can be programmed to record beyond financial transactions and virtually anything of value. In simpler terms, blockchain technology is a series of a time-stamped immutable record of data managed by a network of computers that is entirely independent of any entity.

More importantly, each block contains data that is protected and bound to another block using cryptographic principles and hence, creates a chain. Cryptography fends data from theft, alteration, and is used for user authentication by following an encryption and decryption process that converts any data in its original form (plaintext) into an incomprehensible form (ciphertext). Its blockchain architecture that is free of authority has engendered a decentralized and democratized system. Complete traceability and transparency are other underlying factors facilitating trust in this relatively new technology since all information encompassed in the uncompromisable ledger is not only free for anyone to view but holds everyone involved accountable for their actions.

Artificial Intelligence (AI) is the most recent technological breakthrough that has instilled a rivet within almost every industry worldwide, tantalizing the question of what is the next big thing in store for upcoming future?

A consensus in 2018 forecasted the next technological wave to dominate the year of 2019 will consist of:

1. Blockchain

Blockchain may not have imposed the same revolutionary effect as AI or be as intuitive as voice control, but it has great potential in reforming conventional methods of handling finance, real estate, IoT, the supply chain of most industries, and much more. These factors have contributed to the pressures of governments incorporating them into everything they can as they know well of the high costs of trailing behind on this new wave of technological advancement.

2. Blockchain as-a-Service (BaaS)

BaaS should transcend the cryptocurrency use case and release distributed marketplaces, as well as computing systems that control communities for sharing of resources in both a cost- and resource-efficient manner. These types of technologies will be generated through the BaaS platforms by cloud computing giants like AWS, Azure, and IBM.

3. AI-Led Automation

This prediction is at the forefront of the next anticipated technological wave. Data mining and management, business processes, IT services, customer support, and several other sectors are expected to propel automation via machine-learning-based solutions and neural networks; which is a system that alters its structure during a learning phase and is commonly used as an exemplary for complex relationships between inputs and outputs to depict trends and patterns in data. Therefore, the fruition of AI-Led Automation has indicated it is definite.

4. 5G

5G network, as of recent, has made its breakthrough deployment in many cities worldwide. It is the fifth generation of mobile network technology, an advancement from 2G, 3G, and 4G. By advancing its predecessors, 5G has the potential to offer faster connections, quicker response times, and more significant capacity. 5G network connectivity is necessary to fulfil the requirements of the influx in demand for data and connectivity from both customers and businesses.

5. Chrome Operating System

It is the first web Operating System (OS) designed for users who mainly spend their time in a web browser, offering applications and documents while connected to the Internet. The only disparity from conventional computers is their inability to run software and programs locally. However, applications are not limited by the absence of connectivity and can still operate offline, like Gmail and Google Docs. Although user data is stored in the cloud, Chrome OS devices; Chromebooks, are created to work equally well online or off. Its considerable reception is credited by the manifold of users who predominantly use Google Chrome as its primary search engine, as well as Google applications and plugins to conduct their tasks.