Where Will the Blockchain Industry be in 5 Years?

The Fintech Times | May 31st 2025

Thomas Berndorfer, CEO of Connecting Software was in a recent feature in The Fintech Times that outlined the near future of Blockchain technology. He took the opportunity to highlight how Blockchain has meaningfully advanced our ability to authenticate documents:

“Financial services rely on sensitive documents, like invoices, contracts and statements, constantly. Increasingly, however, these documents have become attractive targets for fraud – digital document forgeries increased 244 per cent between 2023 and 2024. Within the next five years, blockchain-based verification tools will become increasingly vital for financial companies as digital document fraud becomes more available to bad actors."
“Solutions that utilise the blockchain can allow users to create a tamper-proof “digital seal” for documents in any business application. This represents a long hash associated with a document’s state with an immutable timestamp. If the document is altered in any way, it can never create a matching hash and will be flagged as invalid. Only this digital seal, as opposed to the document itself, is shared on the blockchain, making the solution compliant with all relevant data protection regulations.”

He highlighted that the decentralized nature of blockchain made it an ideal use-case for document authentication:

“The advantage of the blockchain is that once information is stored within its network it is impossible to alter with current available technologies because it is decentralized among thousands of devices globally. This means financial organizations can trust that once a document is sealed and verified, it can be trusted as the best possible guarantee of authenticity achievable technologically.”

Connecting Software’s Truth Enforcer utilizes cutting edge technology to ensure we can rely on the files we use today. Please visit our product pages to find out more.