Latest Trends in Block Chain Technology

BaaS - Blockchain-as-a-Service: Blockchain-as-a-service (BaaS) is the third-party creation and management of cloud-based networks for companies in the business of building blockchain applications.

BaaS is based on the software as a service (SaaS) model and allows customers to leverage cloud-based solutions to build, host, and operate their own blockchain apps and related functions on the blockchain.

Enterprise blockchain

Enterprise blockchain, also referred to as private blockchain or permissioned blockchain, simply refers to deployments that, unlike the flagship use case of bitcoin and cryptocurrencies, fall under the control of a centralized "owner" - generally the company that has deployed the chain.

VC & SSI - Verifiable Credential & Self Sovereign Identity (Universal Identity): Self-Sovereign Identity (SSI) offers verifiable, globally resolvable, and privacy-preserving credentials that we store and manage from the security of our own devices and can show it to anyone, anywhere. It can be used for industry that can be used for personal identification purposes. e.g. claim benefits, bank account, loan, insurance, healthcare services etc.

NFTSs

It stands for non-fungible tokens, which are essentially digital assets (pictures, music, code, contracts) that live on a blockchain and therefore can be said to have value due to their uniqueness.

CBDC - Central Bank Digital Currency: A Central Bank Digital Currency (CBDCs) is a digital form of central bank money based on Blockchain, which is a legal tender created and backed by a central bank. Many CBDC pilot projects are going on across the globe.