How blockchain technology is changing the world

[jitenderseo1]

Blockchain could reshape the world! In recent times, blockchain emerged to be one of the most hyped technologies in the industry. Stakeholders, businesses, and startups are looking for means to instil this disrupted technology for better business outcomes.

Though in its nascent stage, this technology is on a verge to grow and not cease. However, research is an ongoing process and will continue to take place to see where this technology pans out.

The blockchain revolution has grown to heights that even people who aren’t aware of the technology are talking about it and trying to learn how the technology works. But why is it exploding? Have you wondered about the situation? You might not know the extent of what this technology can do. But we can start off by defining what the technology is and how it works.

Blockchain technology is used as an online record keeping ledger of verified, encrypted amount of data that can be stored in the form of chains. These block of chains is immutable and cannot be altered by anyone outside the network. The property of secured and unique feature attracts organizations to get involved in the technology making it crucial for industries to adopt it for their product development.

For instance, if a transaction takes place, the request transaction is broadcasted to a network (P2P) that exist of many computers called nodes. The node acts as a validator of the transaction that has taken place, this process is done with the help of known algorithms. Once this gets completed, this transaction in combination with other transaction forms a block. This block then gets added to the series of chain that is already in existence, the moment it gets added to the chain it remains unalterable meaning the data cannot be tampered or changed.

Disruptive technology taking over the world - blockchain specialist to stay future ready for the disruption

“40 years from now, Blockchain and all that followed from it will figure more prominently in that story than Bitcoin will," says Lawrence Henry Summers, former US Secretary of the Treasury.

The blockchain revolution is proving a game changer in the industry today. From financial sectors to non-profit organizations, several organizations are putting their bets on this distributed ledger to facilitate business outcomes.

It is believed that this technology will impact businesses in every manner opening up business opportunities to investors, not just in the altcoins but even in industries the digital ledger has the potential to alter. 

As a result, let us look at the following industries where blockchain revolution has taken over:

●   The Finance Services

The disrupted ledger technology has disrupted several aspects in this industry including hedge funds, vetting of investors, peer-to-peer lending, emerging markets, and venture capital.

●   The Security Services

It has protected internal and external threats of both natures including digital and non-digital.

●   Government Services

Implementation of blockchain in several government functions has increased transparency, increase engagement, improved inefficiency and reduce costs.

●   Banking

It is estimated that there are 2.2 billion unbanked people in the world. Blockchain is said to provide banks that will have a comprehensive customer profile.

●   The Education Sector

One can find an immutable record of credentialing and course completion.

●   Healthcare

Customers will now be able to control data sharing with providers or hospitals to have a brief view of the health of the patient. Pharmaceuticals will have improved access to research data for clinical trials.

●   Real Estate

Flexible sharing economy and the fractional economy will now be possible.

Besides these services blockchain has gained a lot of traction in other industries such as transportation, insurance, the food industry, accounting, wireless telecommunication, media, and legal services. These are certain areas that the blockchain technology companies may captivate in the near future. Today, staying abreast in the disrupted technology is one way to cope up with the IT trends.

Won’t it be great to have a world with institutional transparency in government and businesses?

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[funchiestz]

This issue has been spoken many times around here. Blockchain has the potential to change our lives. But there are a number of problems that need to be solved. In addition, I think in every field, with every technological innovation in mind, a blockchain can be used together. But I think Blockchain will have the biggest touch with our economy. It is already started for economical changing.

[finaleshot2016]

Agree with your knowledge about blockchain technology. It looks like bitcoin was the key for other innovative research for the better of our technology. Blockchain was a wonderful piece of technology that might give us a good way to face our future. Bitcoin has the potential and so as the other assets of cryptocurrency.

....But there are a number of problems that need to be solved...

Yes, there's a lot of factors to considered to make blockchain as a helpful tool but I really think blockchain will get through that problems.

[Odonko]

The entire world is really aware of the immense contribution that the blockchain technology could offer to our world but due to the green and selfishness of men most governments are calling it something bad and not worthy of accepting. The blockchain technology offers full transparency and this could really help reduce corruption in various countries.

[morrisgonzalez]

Blockchain is the cryptocurrency technology that helps the execution of the cryptocurrency function properly. At this time the use of the cryptocurrency has increased a lot and popularity. People can now use cryptocurrency in different areas. And all this is possible for blockchain. For the Blockchain, the Cryptocurrency can now contribute to the economy because of which there has been a lot of change in the whole world. Because of the blockchain, the cryptocurrency is now being used against cash. Blockchain is helping to make the use of the cryptocurrency efficiently by its technology, and this has resulted in many changes in the whole world.

[Haunebu]

The entire world is really aware of the immense contribution that the blockchain technology could offer to our world but due to the green and selfishness of men most governments are calling it something bad and not worthy of accepting. The blockchain technology offers full transparency and this could really help reduce corruption in various countries.

Have you been living under a rock? The governments around the world have openly expressed their admiration for the blockchain tech powering Bitcoin and the cryptocurrency market though only some of them support crypto. Examples:

https://qz.com/india/1148361/budget-2018-indias-government-wants-to-kill-bitcoin-but-it-loves-blockchain/

https://cointelegraph.com/news/chinese-government-supports-development-of-blockchain-city-in-malaysia

[_Django05_]

Blockchain could reshape the world! In recent times, blockchain emerged to be one of the most hyped technologies in the industry. Stakeholders, businesses, and startups are looking for means to instil this disrupted technology for better business outcomes.

Blockchain is certainly a technology that has gained a lot of attention and for good reason. For one, it has enabled one of the most interesting concepts, the cryptocurrency. It has also made our lives a lot simpler and easier. And the changes and benefits that blockchain has brought us have just started.

[2Kool4Skewl]

It seems to me that not so Bitcoin changes the world as the technology itself on which everything is built.  I think that there will be many more achievements in this world.  But it will definitely remain for a long time.  I'm sure the blockchain will change this world.

[Alfino Quirao]

Blockchain has been indeed the most emerged technology and is now paving its way to be the most leading technology cause why not? It has the ability to be tied up to the age of cryptocurrencies where blockchain members in a network can exchange it with goods and services. Blockchain has also taken-over the Health care industry. AfriHealth is proof to it, this is a mobile application where blockchain members can get insurance in just one click and is also very convenient cause it's downloadable across all devices with various operating systems and networks at no cost. This technology helps people to have equal access to health care and emergency medical facilities by the use of cryptocurrency and Provide Health Insurance using blockchain in the health insurance sector in Africa. Very convenient because you can find an ambulance in times of distress and book one right away, also can get Health insurance and view plans and then buy it right away. You are also able to buy medicines online and look for doctors or specialist surrounding your area through your mobile phone no need to go to every hospital near you. In this era, our health is also one of the things that we need to invest for, so this superior technology is what so far I can consider very helpful and shows that blockchain is really emerging in every industry existing not only in trading.

[finaleshot2016]

Actually, I'm doing a bunch of research about how does blockchain will help our world. Blockchain is one of the modern technology that we should learn about because it has a massive innovation to create it. People need to be innovative because there's a lot of factors in our world to consider, there's a lot of consequences on each action we do. Blockchain has a good network where transactions happen with details, this knowledge has the ability to be decentralized also.

Advantages of blockchain were spreading right now and I think people will get used to it someday.

[Ailmand]

Blockchain plays a vital role in the economic growth of the world. It has been changing every user's life for years and it's reaching out every corner of the world. It only needs mass adoption and acceptance to make it an international currency. Bitcoin has contributed a lot and is making life more convenient because of its functions as a mode of payment. It's giving us financial freedom through its profitable investment.

[traderethereum]

It will happen soon, but we need to wait for the time to come.
One day, blockchain will change this world to better, and people will get a better life too.
Bitcoin with blockchain technology is trying to giving new hope for every people to make money. Besides, people will have a new way to get an income source to earn money.
The blockchain itself will solve the problem in each field so people will not face the same problem in the future.

[electronicash]

looks spam to me. and you didn't mention  ●  Gambling?

certainly blockchain had been evolving, the web 3.0 might just become the standard of internet in the coming years. they could really fast track all these if government start trusting the technology as early as possible.

[Genemind]

The way how Blockchain changes the world isn't too visible for now but it is felt by most users especially those who are making money through it.
It is making a lot of conveniences and has a big
impact on the financial stability of many people.
Blockchain works in so many ways and is contributing in the financial and economic growth of the world market.

[r1a2y3m4]

This issue has been spoken many times around here.

You can't blame a newbie though. This kind of topic will be infinitely created because the development of blockchain technology develops day by day.

I love how blockchain technology is changing our world. That statistics of how many people were unbanked about 2.2 billion, I heard of that. Many banks, especially international banks requires lot of things before they accept you.

[LUCKMCFLY]

There can be a small pause and apart from pointing out all the advantages offered by the Blockchain technology, it also has an environmental impact, because many times everything is directed in a digital direction and the development of the blockchain, there are many people who are beginning to do environmental studies on how blockchain development can influence the bitcoin mining industry and other currencies.

Many nations can make a lot of emphasis here, since somehow governments and banks want to participate and take control over bitconi, blockchain for all the potential that leads, then this leads to think that in the not so distant future, for Each project based on Blockchain we have to take into account environmental specialists or engineers, this may be a point that for now may not be so relevant, but every time you expand the technology may appear small details such as those that have to do with Blockchain.

That is why Blockchain is taking more and more, many areas that we thought were not thought, this means that every time the impact on the world is enlarged as time passes.

[xvids]

Blockchain has already started changing the world.
It has been 11 years since it has been created by Satoshi and it has been used by manny other things like OP stated.
Blockchain really helps a lot not just in the internet but also in the real world.

[Gaff]

Blockchain has already started changing the world.
It has been 11 years since it has been created by Satoshi and it has been used by manny other things like OP stated.
Blockchain really helps a lot not just in the internet but also in the real world.

Of course the real world appreciated blockchain, as it provides consistent transactions which the entire crypto community benefited from it. Most specially on trading platforms which has been used for a long time. As we all knew that internet is one of the reasons why it kepts on ranging all over virtual world, in line with physical assets. That past decade is one of the proof of blockchain technology, which really brought the world to change on so many things. Without cryptocurrency we won't be able to experience virtual environment, on how money will circulate beyond physical form.

[antisocial77]

1 example.we had an election here in Turkey.current government canceled because they say polls eere stealed even its not true.if we use blockchain, nobody can claim that polls are stolen or there is any illegality.we can give many examples

[traderethereum]

1 example.we had an election here in Turkey.current government canceled because they say polls eere stealed even its not true.if we use blockchain, nobody can claim that polls are stolen or there is any illegality.we can give many examples

Yes, the data will be recorded on the blockchain, and no one can interfere with the data.
That will give a clean election, and it will help many institutions to get real data.
There are no cheat or illegal data that will happen, and if there is any fake data, that will be a human error that makes the mistake.
Maybe it will happen in the future after the government decide to use blockchain and they already make a test of the blockchain works.