Why the Slow Adoption of Blockchain Delays 5G Technology
The implementation of 5G technology is a revolution in the making. You might not see it happening because it is moving at a relatively small speed. Even the most optimistic voices of the wireless industry hint towards 2025 as the year of significant adoption.
There are several causes for this slow development, and they include governmental regulation, network rollout difficulties, and the ongoing COVID-19 pandemic.
Another factor that might deprive us of 5G technology and its benefits for a few years more may be found in the slow adoption of blockchain. The technological breakthrough that supports Bitcoin, DApps, DeFi’s, and multiple other digital assets and operations are critical to the global expansion of 5G technology.
Today, we take a closer look at how the symbiosis between blockchain and 5G can ensure the security, speed, and stability of information in tomorrow’s world.
5G Technology in a Nutshell
5G is the next generation of wireless network technology. It will provide a substantial improvement on its predecessors, 3G and 4G LTE, which are still functioning across the globe. The upcoming 5G will be faster, provide more bandwidth, and enable more devices to connect and use the network simultaneously than the present technology.
Several 5G networks have been rolling out in South Korea, the United States, and Europe since 2018. While it will take several years before it reaches widespread implementation and use, this technological leap will have a profound impact on the mobile industry and its customers.
The potential of 5G technology is huge, and it goes far and beyond its improvement in mobile communications. This next-generation technology will set the ground for the creation of tools and applications that will redefine our interactions, our economy, and subsequently, our entire world.
5G will also accelerate the development of some of the most futuristic technologies that we have tested in the past decade. Some of them include self-driving cars, augmented reality (AR), virtual reality (VR), and other projects from the Internet of Things (IoT).
Why Blockchain Adoption is Important for 5G Technology
The imminent implementation of 5G technology will impact businesses worldwide. Entire industries will change the way they store, send, and share data. Numerous corporations and enterprises will be linked in an unprecedented ecosystem in which the information flow will be almost instant.
However, this ecosystem will require the protection of an underlying high-security protocol. It will have to resist hack attacks, data theft, and other forms of cybercrime. The system that will ensure such a high level of safety will have to be decentralized, scalable, and easy to implement.
This is where blockchain steps in to save the day.
Blockchain has already proven its ability to support fast-growing technologies. It favors innovation, provides data encryption, and a trustworthy network where products and services function under the protection of high-security protocol.
Very soon, 5G compatibility will be an inherent feature of almost every conceivable device from industrial machinery to automobiles and handheld devices. Together, they will be part of a widespread network, which if hacked, can lead to catastrophic consequences.
Why Blockchain and 5G Make a Perfect Match
We already established that 5G technologies need the blockchain to guard its safe functioning. Nevertheless, it doesn’t mean that 5G enters this alliance empty-handed. It brings radical improvements to data transmission speed, bandwidth, and connectivity among others. As a result, the creation and execution of applications, smart contracts, and other operations on the blockchain will improve substantially.
Here are some of the main categories where the two technologies combine to improve and facilitate each other’s purposes:
Thanks to the progress in wireless networks and smart technology, nowadays countless types of devices share various types of information. Some of this data is priceless as it may contain personal info, financial details, or other important files.
Blockchain technology has already proven that it can secure crypto transaction details through encryption. Its features should place it at the top of the list when it comes to technological feats that can protect devices using the next generation of 5G technology.
5G is barely being born, but it is already expected to grow and develop into a fast, global web readily available to support numerous types of data and support flawless interoperability between different devices.
To get there, 5G needs to develop on top of an equally scalable solution that ensures quick data mobility. This network also has to provide immutable data for analytics tools and to have the ability to develop at a rapid pace.
Blockchain is not a finite technology, and it is not one that developers started tinkering with last year. It is a scalable ecosystem in full metamorphosis. This state enables it to adopt new technologies with ease and to influence their growth as they induce modifications within the chain at the same time.
A Safe Transition to Automation
The digitization of services has already been happening for years. The next step in the evolution of our increasingly computerized world is robotic process automation (RPA), simply known as automation.
A combination of robotic science and artificial intelligence (AI) brings us closer to a reality where robots and machines perform most jobs and services out there. 5G technology will accelerate this process, and bring that once sci-fi scenario into existence sooner than expected.
However, automation may backfire if it is poorly implemented on alterable platforms that are prone to errors. Fortunately, blockchain can provide a reliable solution to this problem through smart contracts.
Smart contracts can support the development and execution of secure applications on or off the blockchain without the risk of data breaches and computer errors affecting their completion.
The Bottom Line
Today, we presented only a glimpse into how the adoption of blockchain technology together with the implementation of 5G technology should benefit both of them while ensuring the data security, speed, and scalability requirements for organizations and regular users alike.
Unfortunately, blockchain adoption is still moving at a disappointingly low speed. While some industries have already proven its efficiency, there are still a few countries in the world that try to block its use. If blockchain and 5G are to evolve in a symbiotic partnership, both will have to benefit from the same adoption rate on a global scale.