The opportunity of blockchain

This week I am celebrating the news that Alchemy has raised $200M in a new round of financing led by Lightspeed and Silver Lake. Alchemy was launched in 2017 with a mission to make blockchain development accessible.

As NFTs, DeFi, DAOs, and the metaverse expand, Alchemy is already working in 197+ countries (along with companies and projects like OpenSea, Dapper Labs, 0x, Royal, and Axie Infinity) enabling what some may call “the next great paradigm shift” in technology.

When you use the word “blockchain,” some people may think that is synonymous with cryptocurrency. Crypto is certainly one way that blockchain is utilized, but there are many diverse ways to use this cutting-edge technology. Blockchain is especially useful in finance, making ledger systems real-time and reducing third-party fees. One report by ComputerWorld estimated that blockchain could save the largest banks $8-$12 billion a year.

Blockchain is also a great tool for the global real estate marketplace with a decentralized title registry system. Blockchain is expected to make title issuance instantaneous and even offer properties that can be purchased using cryptocurrency.

Blockchain contracts are being used to help patients maintain established levels of confidentiality and privacy while also making it possible for healthcare professionals to securely transfer sensitive medical information.

In the entertainment industry, blockchain technology can be used for global music and gaming royalties tracking, content creation and copyrights, and the sale of NFTs.

Governments can use blockchain for personal identity security, real time IoT operating systems, supply chain monitoring, and more equitable voting systems.

This article would have to be much longer if I were to really consider all the possibilities for using blockchain.

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