 Blockchain makes things Transparent, Democratic, Decentralized, Efficient and secure. There are some industries which ripe for disruption by the Blockchain. 1) Banking and payments. Some people say the Blockchain will do to banking what the internet did to media, The Blockchain banks the unbanked . As we already Know bitcoin allows access to send money to anyone from anywhere. ABRA is a startup which is a bitcoin based remittance. and many banks like Barclays also started working on using Blockchain services to make faster transactions.Banks are also increasingly started investing in blockchain based start-up's. IBM predicts that by the end of 2017 15% of banks will use the Blockchain . 2) CyberSecurity Although the Blockchain's data is public it is verified and encrypted using advanced cryptography, This way the data is less prone to hacked and changed with out authorization. The Blockchain eliminates the middlemen, making more efficient than legacy systems in cybersecurity. 3)Supply Chain Management Blockchain transactions are documented in a permanent decentralized record, and monitored securely and transparently. This can reduce greater time and less cost and labour. It also can be used to verified authenticity or fair trade status of products by tracking from their origin. some of such companies are SKUCHAN, BLOCKVERIFY..etc., 4)Insurance The global insurance market is based on trust management, Blockchain is new way of managing trust, and can be used to verify many types of data in insurance contracts,, like the insured person identity. ORACLE integrate real-world data with smart contracts. This technology is useful for any types of insurance that relies on Real-World data. Aeternity is one blockchain project that is building tools that are useful in insurance industry. 5) Transport and ride sharing Blockchain technology allows to create a peer-to-peer connection in secured way with ride sharing apps, with out any third-party providers. It automatically pay fee to parking-lots, tolls and fuel some of them are UBS, ZS and INNOGY. 6)Cloud Storage Data in a centralized storage is vulnerable to hacking, data loss and human error. using Blockchain technology allows cloud storing more secure and robust against attacks. STORJ is an example for this technology. 7)Voting The Blockchain will disrupt voting. Blockchain can be used for voter registration, verification and vote counting. Immutable, publicly viewable ledgers of recorded votes would make elections more fair and democratic. 8)Government Government systems are often slow, opaque and prone to corruption. Blockchain can increase security, efficiency, and transparency of governmental operations. Dubai is aiming to put it's government documents on Blockchain by 2020. 9)Healthcare Hospitals need a secure platform to store and share sensitive data with doctors or patients. this will improve security and faster accessibility to data. 10) It's your industry if your industry deals with cloud storage and data the Blockchain space is wide open and the chances are many..!! ......................................... The future is uncertain but promising ....................................................
author | rushendra |
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permlink | 10-industries-blockchain-will-disrupt |
category | blockchain |
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Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in: http://futurethinkers.org/industries-blockchain-disrupt/
author | cheetah |
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permlink | cheetah-re-rushendra10-industries-blockchain-will-disrupt |
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i upvote you.
author | teodorescu |
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permlink | re-rushendra-10-industries-blockchain-will-disrupt-20170817t155713971z |
category | blockchain |
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