For many people, the term Blockchain disruptions may have a negative connotation, but for lots of industries the introduction of blockchain technology couldn’t be more welcomed. A distributed ledger called Blockchain provided businesses with a decentralized, transparent method for transactions, while also being fairly easy to use and extremely secure.
Today, the thing that blockchain is most known for is its use in cryptocurrencies, in particular Bitcoin. The Blockchain is in the heart of Bitcoin transactions, a cryptocurrency that is getting more popular and widespread by the day. For example, you can purchase gadgets on Newegg using Bitcoin, or even bet at an online Bitcoin casino.
It is this same technology that is slowly showing its potential in a variety of other industries, with many soon to follow. In the following paragraphs, we will highlight some of the many areas that will certainly feel the force of blockchain disruption.
The modern voting system more often than not requires the voter to be physically present at a voting station, which can often result in many people not being able to find the time, or simply not caring enough to vote. There is also a realistic possibility of rigging the elections.
As you’ll see in the infographic originally published by BitFortune.net, Blockchain has the power to eliminate this type of frauds, preventing the chance of rigged elections. It will also allow votes to take place either online or on a mobile system. What’s more, several countries have already started implementing blockchain tech into their voting system, in order to promote transparency as much as possible.
The healthcare industry is made up of a lot of record keeping, and although many now use a digital system, there is still often a problem when it comes to keeping patient records completely private, but still allowing access to authorized individuals.
Music and photography Rights
When things go digital, such as various forms of content like music or photography, piracy is never far behind, causing businesses like record companies to lose a lot of revenue in the process. The entertainment industry will be able to utilise the power of the Blockchain technology to secure media rights, and therefore get back the income that they should be getting.
When it comes to finding suitable people for a job, the process is often made difficult by the fact that many people do not entirely tell the truth in the CVs. There are already companies out there, such as The Learning Machine, that are hoping to change this by using the Blockchain technology to verify working and professional credentials.