Blockchain is the most disruptive technology in this digital economy. Not only banking, but blockchain has also progressively disrupted other industries as well. Blockchain technology has possibilities that will transform our future to a great extent.
We have made a list of industries that have been constantly affected by Blockchain. But before that, with the help of an infographic, let’s see what Blockchain really does.
As we can see in the infographic, blockchain has done a lot in all major sectors. You might be curious as to when blockchain did so much what were its impacts on the industries. Well, let’s give your curiosity some wings. Here are some of the major industries that had a direct impact of blockchain on them. We have discussed the education industry, automotive industry, energy sector, enterprise, finance, government, and healthcare below:
To start with, let’s talk about the
Blockchain could transform subjects such as identity, reputation, privacy, and security in the education sector. It has helped us in completely revamping our education and credibility systems.
Secured driving data is made accessible to the rightful individuals only. The reputation of uber drivers and regular drivers could be built in order to help the customers when they go for renting a car.
Sharing of excessive energy in a peer-to-peer form, in-spite of just selling it back to a local establishment, Blockchain assists in consistently keeping a track of production as well as usage of energy. It also proposes a better way to handle payments.
Enterprises are highly impacted by blockchain. It provides a secure, fast, and transparent way of tracking transactions and business-to-business transactions as well. Using blockchain we can easily maintain financial records, customer records, receipts, and orders.
Blockchain’s cryptocurrency is already integrated into the system. Financial Institutions already support the research work and development of blockchain technology.
Governments may feel threatened because of blockchain due to the current systems that help in governance. Blockchain can make the entire voting process more transparent and secured.
The medical records and documents on the blockchain can be easily distributed to different doctors so that we do not have to maintain a personal file or so.
To conclude, we can say that there are so many applicable use-cases for blockchain technology. However, its implementation and advancement are being researched, and developed by the experts all the time.