The Top Trending Technologies of Today - Blockchain & Augmented Reality!

New technologies are getting introduced in the market at an unprecedented rate. And it becomes seemingly complicated for the mobile app development companies to keep up with the technology trends. Even the marketing analysts find this as a daunting task to determine which technology is relevant to the business.

Blockchain and Augmented Reality - are amongst the most trending ones from the emerging technologies today.  These technologies are making a huge splash, as several tech giants and industrial sectors have already started embracing these tech trends. Oracle, one of the leading tech companies, has joined the Blockchain bandwagon with its newly introduced cloud service. It solely depends on how the mobile app development companies how they utilize cutting-edge technologies. This helps to boost IT and business performances from improving back-end processes to serve their clients better.

What exactly is Blockchain?

According to the New York Times, “The mission of Blockchain is to build a transparent, accessible, and trustworthy financial future.”  The Blockchain is a digital ledger that can track down all transactions of digital assets – from music to messages at a faster rate. Check this out: bitcoin is the best-known digital cryptocurrency along with and ethereum that allow users to transact directly without any third-party intermediary.

How does it work?

Blockchain stores copies of the digital ledger across a network of computers and updates them simultaneously. Later, a majority of the nodes in the network approve the transactions before they add to the ledger. The process is faster and secure. It remains current on adding up to the chain of transactions that have already taken place -in the form of a new block of encrypted data.  You can trade for these like stocks on a crypto trading platform of your choice. There are already many different options from many countries.

Industries like shipping have already accepted this technology while banking sectors are already experimenting with it. This technology is revolutionizing the financial services industry by empowering millions across the world to authenticate and transact immediately without costly intermediaries.

Benefits of using Blockchain technology

• Employing blockchain reduces the cost of online transactions
• It also simultaneously increases the authenticity and security.
• It eliminates the need for payment processors, reconciliation bodies and third parties.
• It offers multiple cybersecurity advantages to banking applications.
• It is comparatively faster than the centrally-controlled ledgers.
• It is encrypted through cryptography providing high security.
• It is virtually impossible to lose data.
• It lowers the costs due to the removal of intermediaries.

Is Augmented Reality already the next future technology?

The mission of this driving technology is to bring the virtually computer-generated objects into the real world, which the user can see and experience.

Augmented Reality (AR) – the word “augmented” is an addition of something and “reality” is the integration of digital information with the users real-time environment. This technology of Augmented Reality uses the existing environment and overlays new information on the top of it. It is different to the virtual reality, which creates a new artificial environment.

Augmented reality adds sounds, sense, smell, graphics, and haptic feedback to the natural world as it exists. Both smartphones and video games are driving the development of AR. As both the real and virtual worlds coexist harmoniously, users of AR experience a new and improved world. Here they use virtual information as a tool to assist with daily activities.

Everyone from technicians to non-technicians, to someone looking out for the nearest coffee shop can now benefit from the ability to place such high-end computer-generated graphics in their field of vision.

Mobile app development companies such as the famous Pokemon Go and Snapchat have already started implementing this AR technology and are keeping ahead with the technology race. Even Google and Apple have conceptualized their new devices with the AR implementation.

How does Augmented Reality work?

In most AR applications, a user can see both natural and artificial/synthetic light. This is done by overlaying projected images on top of a pair of glasses or goggles, which allow the virtual objects and images to get layered on top of the users real-world view.

The Augmented Reality devices do not require a cable or desktop computer to function.

Benefits of AR technology

• It is unique, clear and noticeable in the real world.
• It increases user engagement level.
• It enables interactive marketing strategies to promote business products.
• It also improves brand loyalty owing to a seemingly real simulation of virtual objects.
• It widens opportunities for marketing personalization.
• It gives its users a tool for creating quality content including walkthroughs.
• It is one of the most efficient ways to simplify and explain functional aspects of any product.

With such new concepts and undefined benefits, it indeed proves that technology has re-defined user experience and interaction level. Using AR or Blockchain or any such powerful technology, mobile app development companies can leverage their attributes and can go places.