In the not-so-distant future, every single industry will be transformed by Blockchain technology. And I don't just mean Bitcoin and Cryptocurrency. This is a bigger revolution than the internet itself because it will affect virtually all industries.
In 1982, the internet was born and changed our world forever. With the invention of blockchain technology in 2008, we are on track to change our world again. When we think of the blockchain, most people will automatically associate it with cryptocurrency. However, what can't be forgotten is that this revolutionary technology has much more to offer than just a digital currency like Bitcoin or Ethereum! Blockchain applications are limitless and should not go unnoticed by anyone who wishes to stay on top of their game.
Blockchain technology stands for trust, transparency, and accountability.By design, this technology is decentralized. Therefore, a single point of failure cannot occur, and neither can it go against the protocol rules. Moreover, it maintains a high level of transparency and security without any possibility of error. The best part is that there are no pre-set limitations.
What industries can the blockchain change? The blockchain is in its nascent stage today. Every industry will find a use case for this technology. If that is not enough, blockchain technology will be able to work with any data type, which would make it more versatile than any other existing technology today. The blockchain is the most secure, flexible, and scalable technology out there.
To understand where blockchain technology is headed and what industries it is prepared to change, it would be best to take a look at the history of its emergence. Blockchain was created by an anonymous individual and was portrayed as a system that would perform as a digital currency. However, this technology proved much more versatile than that.
Today, it is not just the financial sector that is going to be transformed by this technology. Aside from banks, other industries including stock exchanges, healthcare, governments, and even real estate will be affected greatly. And those are just the widely talked about sectors of this technology that is emerging. Others will come in the future.
It may take years for most business and enterprise organizations to start using blockchain technology, but the ones that eventually embrace it will have a leg up in the competition. Blockchain is revolutionizing every industry it comes in contact with. What we can certainly say about this technology is that it will change the world forever. It will become a significant and integral part of our life.
The good news is that everyone can make use of this technology to improve how their business operates. Read further for the 101 use cases, and maybe you will find some useful ideas for your business.
1. Financial services and banking
The financial industry is always at the front gate of major technological shifts. This probably explains why blockchain is one of their main concerns right now. According to experts, blockchain technology will eventually become a dominant force in the financial world.
Financial transactions will become streamlined, and faster with blockchain technology. This will lead to reduced costs and more profit. Blockchain will also make financial institutions and banks' services better, as it will provide faster methods of execution. The result is a simple and transparent system for customers and allows for deeper financial systems that are consistent with the needs of modern businesses.
Blockchain technology can also be used to create transparent systems within banks. For example, it can be used to monitor payments or eliminate the need for clearinghouses. Another amazing result of the blockchain is that it makes going public a safer and simpler endeavor. The blockchain will allow for listings that are safe and fully transparent.
2. Stock trading and hedge funds
Blockchain technology has already brought in a new way to trade. This technology offers stock trading with increased levels of security and audibility. The blockchain offers fast and secure trading. Moreover, it is bringing transparency into the stock industry. There are fewer middlemen in virtual transactions and more power in the hands of the buyers and sellers.
Stock exchanges are also creating their own blockchains that are secure enough to handle the ins and outs of the stock markets. This gives options to their clients.It also means that there's no need for us to trust these exchanges with our confidential information like we used to.
3. Healthcare
The healthcare industry is also interested in the blockchain. While it is still in its early stages, it is clear that the blockchain will become a better resource for medical professionals. Aside from providing access to secure online health services, the blockchain can also give us a peek at things we could not have even imagined in the past. In the next decade, you will be able to buy health insurance that will automatically pay the bills that you have incurred during illness, surgeries, and even accidents. Some day, you will be able to buy a share in the storage of your medical records.
Apart from just health records, blockchain can also be used for managing finances during medical procedures. This would significantly reduce costs in medical bills. Another advantage of the blockchain is that it can provide advanced medical diagnosis in a more secure and transparent platform.
4. Government
At the heart of all modern nations lays the government, and it is also going to be transformed by the blockchain. A great application of blockchain technology is the ability to make public records and services more transparent and secure.
Another great blockchain application is voting. In a blockchain-based voting system, you will be able to cast your vote in a country with the confidence that its result is accurate and official.
5. Real estate
Blockchain can transform the entire real estate industry by reducing costs and expediting the process. It will make it easier for potential buyers to perform their due diligence on the properties that interest them. It also provides a platform for people to buy and sell properties.
Perhaps the most interesting aspect of blockchain technology is its incorporation of smart contracts that will facilitate the purchase and sale of property. This eliminates the need for intermediaries and agents. An interesting way is to let the buyer and seller build a smart contract that can make certain transactions contingent on the successful completion of the contract's terms.
6. Security and surveillance
The omnipresent nature of the blockchain will make it a more effective tool for combating the proliferation of cybercrime and cyber attacks. It will also prevent data loss in the event of hacking or system corruption and errors. The increased transparency of blockchain will make it a safer and more secure platform. If you're communicating with people on the internet, there's a high chance that one of them will do it using the blockchain.
7. Startups and solutions
The technology behind the blockchain is a major trendsetter in the world of software. It is set to improve companies' internal operations and make them more efficient. It can help these businesses in a variety of ways including providing them with a way to fund their activities, improve supply chain management, and enhance the security of transactions.
The increased popularity of blockchain is already providing a platform for a wide range of startups that are developing solutions and finding ways to utilize this powerful technology.
8. Retail
It is already evident that blockchains are creating new opportunities for online retail. They are simply perfect for creating digital marketplaces and online shopping systems. For the first time, the delicate operations that make up supply chains will be opened to scrutiny and made more efficient.
You can bet that blockchain technology will be playing an integral part in next-generation supply chains. To put it all in perspective, blockchain technology will make the entire interaction between buyers and sellers more secure and simple.
9. Education
Blockchain technology can transform the education sector, especially when it comes to collaborative learning. The blockchain is an excellent way to keep track of a student's completed coursework and to see their progress, including what they've done, what they've learned, and what they still need to learn. The blockchain can be used to store resumes and other credentials of degree holders. Furthermore, it can be used to verify a degree in an instant without the need for additional verification. This makes it easier to get work and begin your career immediately.
10. The legal sector
In today’s world, access to legal services is a privilege. This is mainly due to the prohibitive costs of these services. With blockchain technology, however, you can become your own lawyer, or at least you can resolve some legal disputes on your own. For example, you might need an issuing authority to approve a document. Blockchain technology can give individuals the power to create their own, valid legal contracts.
11. AR/VR
The go-to technology for improving the AR/VR user experience is undoubtedly blockchain. Blockchain technology will make the process of interacting with virtual environments more secure, providing a backend for transactions and services. Augmented reality users can expect a seamless interaction.
With the help of blockchain, virtual reality engineers can build more believable and immersive experiences. The VR/AR industry will use blockchain to solve several problems such as identity and privacy.
12. Intellectual property
It has already been proven that the blockchain is extremely difficult to hack. It can help preserve the intellectual property of creators. The blockchain also makes it possible to track the digital ownership of an asset. Another great benefit is that it can be used to authorize the creation, management, and transfer of intellectual property.
13. Gaming
Blockchain technology was introduced to the gaming space not long ago and the chief reason for this was its ability to reduce fraud and protect players. This will create a more secure platform for players who wish to spend their money on virtual items and other goods.
14. Cybersecurity
The blockchain can help make cybersecurity more secure through resource sharing and information gathering. It will play a role in the creation of new cybersecurity tools. It will also help to ensure that only those authorized to use one's data can access that data. The organization and storage of data will be inviolable.
15. Staffing and recruitment
The blockchain is a more secure and more reliable place to store application information. With blockchain, background checks can verify employment history and credentials more quickly and easily. Using smart contracts we can pre-approve candidates, by already knowing their skills, background history, and qualifications.
Hirings will get a lot easier. Large organizations can use blockchain technology to store information about their job candidates, including their employment status. This frees up their recruitment team to focus on other responsibilities.
16. Notary services
Blockchain will make it easier for notaries to perform their duties. This will be possible due to the blockchain's immutable and permanent nature. Blockchain technology can help make data tamper-proof and more secure. The blockchain can also verify documents and signatures more easily. This will make notary services faster and more efficient.
17. Law enforcement
Law enforcement agencies around the world are starting to adopt blockchain technology. They are already storing information about their personnel and they are discussing possible ways to increase efficiency and streamline processes such as payments. Blockchain can be used for law enforcement agencies in several ways because it’s difficult to hack. It's also more convenient and cheaper to use.
In 2016, IBM collaborated with the government of Dubai to help law enforcement agencies to build case records on the blockchain that could certify that certain events actually happened, and review historic cases. This blockchain system will link up all government services. The partnership meant that Dubai was looking to increase efficiencies through blockchain while aiding Dubai in transforming a very important, core government process.
18. Voting
Voting isn’t a new idea but not everyone agrees that it can be made more secure and transparent. For this very reason, blockchain is being used to address voting concerns. Blockchain technology can be used to record people’s votes, and link them to their identity. If you want to vote, you will need to ensure that your voting information isn’t lost. The blockchain can help to fix this problem, ensuring that all of your votes are recorded and cannot be deleted or tampered with.
19. Innovation
The world requires innovation. However, a lack of innovation holds us back from fulfilling our potential. For us to ensure that we can innovate faster, we will need to use blockchain and cryptocurrency platforms. The blockchain can be used to reward people for coming up with great ideas, especially in the healthcare and environmental sectors.
20. Medicine
Blockchain technology can be used to ensure the safety of any medicine added to the supply chain. The blockchain will guarantee that the medications are authentic. It will also make information about a patient's treatment history more easily accessible. With the help of blockchain, you will be able to access details about your medication history in less than a few seconds. This will lead to fewer mistakes and greater safety.
21. Flying cars
The future of blockchain and the internet will also be the future of flying cars. With the help of blockchain technology, it is possible to develop autonomous flying vehicles that can take off, land, and park themselves. This innovation is expected to become a global norm.
22. Hardware
The rise of hardware applications running on the blockchain will be possible thanks to new types of interconnects that are modular and highly programmable. The blockchain will serve as a platform for rapid prototyping and manufacturing. After all, its creation requires both a high level of engineering and software design, both of which are considerable areas that can be improved by switching to a more efficient blockchain platform.
23. eSports
There is already a lot of interest in the blockchain and cryptocurrency in the world of eSports. This is largely due to the fact that film studios, publishers, and other video content providers are adopting blockchain technology to transform eSports into a more transparent and secure industry. The blockchain provides a strong foundation for the production and distribution of eSports content. It will help the industry deliver high-quality streamed content and permit viewers to participate in real-time, with reduced fraud and increase equity.
24. Microtransactions and microservices
In late 2016, Facebook announced that it had been testing blockchain technology that it claimed could be used to power a variety of "microtransactions". Microtransactions are transactions that occur on a smaller scale than full purchases. For example, you buy a single unit of game currency or service that is priced very inexpensively. These transactions can almost be referred to as "microloyalty" as they are designed to connect people with businesses on a smaller scale. Kickstarter projects, for example, are commonly funded with microtransactions.
One of the most important aspects regarding microtransactions is that they provide a way to create microservices. Microservices are applications within a cloud infrastructure that essentially compartmentalize specific tasks. Applications such as healthcare and insurance may be broken down into smaller, more convenient microservices. With meta smart contracts, AI agents verify transactions, confirm the execution of such services, which are then logged and processed.
25. Artificial Inteligence
Blockchain's ability to securely record data makes AI more efficient and able to make more accurate decisions without error. In fact, the blockchain is already being used to power some AI applications. It can be used to efficiently store and share large amounts of data so that AI systems do not run into issues when trying to access them. It can also be used to ensure that AI systems run more efficiently and are more secure.
26. Data ownership
Big companies have long had control over how you use your data. This needs to change. With the help of blockchain technology, you can finally take back control of your data as well as monetize it and build a relationship with the customer. Instead of selling your data for pennies, with blockchain technology you can decide who can use the data, how much they will pay for it, and you can even leave a portion of the revenue to charity.
27. Internet of things
With the help of blockchain technology, we could reshape the internet of things (IoT). Through the addition of blockchain, new sensor applications can create an easy and secure mechanism for the identification of assets.
28. Aviation
Properties of Blockchain technology allow tracking of flight data over the blockchain. With rapid prototyping and smart contracts, this could be an opportunity for big aviation companies to establish themselves in the world of blockchain technology.
29. Defense
Blockchain technology can be used to secure national defense systems. After all, because the data is distributed and there are multiple points of origin, the blockchain can identify and protect against any type of malicious activity.
30. Energy
Peer-to-peer sharing across a single power grid will allow for the elimination of energy wastage and loss. Microgrids will take over, allowing for more efficiency and freedom for both consumers and producers. Energy will be shared, sold, and traded peer-to-peer. As this technology grows, the blockchain will need to expand to handle it.
31. Ridesharing
With the help of blockchain technology, ridesharing will improve significantly. The blockchain could make it so that no one owns a vehicle unless it is shared and that insurance is automatically paid for whenever the vehicle is used. The ride-sharing economy will change dramatically as a result.
32. Enterprise applications
Besides Ethereum, other enterprise-ready platforms may have the potential to become the middleware between blockchain technology and the big enterprise cloud companies like Oracle and Amazon. The blockchain could also be used in the big enterprise cloud companies to provide them with better data security.
33. Identity
Blockchain technology could also be used to provide a more secure and more digital framework for identity. Digital identity, storage, and record-keeping will all be made simpler and easier with the help of niche blockchain technology.
34. Virtual currencies
Blockchain technology has the potential to make virtual currencies more effective, stable, and decentralized. Instead of a centralized entity keeping records, information, and balances, it is distributed across a network of various private and public nodes.
35. System architecture
The reliability and resilience of a blockchain system are well known by blockchain and IT experts. Blockchain technology allows design improvements to the architecture of any application. This will not only reduce costs, but also lead to an improvement in quality, speed, and efficiency. Because new sites could be built in a few weeks or months, the entire system will be optimized in a short period.
36. Architecture, engineering, and construction (AEC) industry
The AEC industry has also begun exploring blockchain opportunities. As an emerging technology, it offers exciting possibilities for construction projects and collaborations. It also has the potential to make transactions more efficient and less time-consuming. Blockchain offers a shared record of all transactions, which is updated in a timely manner, with all participants having access to it. This makes it an ideal platform for smart contracts that can be utilized for third-party validations and invoicing through automated processes.
37. Accounting and regulatory compliance
Blockchain technology could make accounting and regulatory compliance easier. Blockchain can also help in automatic tax collection and tracking. Regulatory compliance is easier with the help of the distributed ledger and smart contracts.
38. Smart contracts
Open-source smart contracts could eventually evolve into a standardized template, and because they are so cheap, they can be used to replace all types of middlemen. Today, with the help of smart contracts, individuals can be both users and providers at the same time, combining the power of traditional business and crowd-sourced solutions.
39. Integration with popular payment services
Offering up blockchain as a service can help even the most popular payment services remain up-to-date. In many cases, they can use storing specific customer data directly in the blockchain and ensuring that this is updated as the actual data changes. This could work to their advantage, both from the point of view of security and profitability. The mere fact that payments can be processed in a more affordable way for such services, can enough for them to make a switch.
40. Governance
With the help of blockchain technology, the governance of any organization is reduced to a simple automated process. The way governance is defined, the participation and governance process, for any organization, is reduced. Blockchain technology could make decentralized organizations a reality.
41. Leadership
Because of its levels of transparency, the blockchain can be used to dispense leadership. It can create a transparent, accessible leadership model that is easily understood by all members of the organization. The blockchain can also help in quicker management.
42. Protocol development
Blockchain technology allows protocols to become more flexible and adapt to new additions and changes with smarter and more efficient integration of new technology and applications. The blockchain can even help in the creation of new blockchain protocols.
43. Corporate and legal structures
Decentralized and distributed autonomous organizations or DAOs will become more popular with the help of the blockchain. The blockchain could help in the organization of groups all around the world and their collaboration. Every group could have its currency and run on self-owned governance.
44. Food safety
Blockchain technology will help overall food safety. Farmers and harvesters will be able to track everything from seed to packaging to ensure better quality control. The blockchain will help regulate the food supply chain and improve supply chain management.
45. Consulting
Blockchain technology can make consulting more efficient. We can use it to build better services and offer better products to the market. It can even help in the development of new ideas and can help in open innovation.
46. Encryption and decryption
Blockchain technology can help in data processing, encryption, and decryption within the same application. It can also be used to secure transactions as well as record all work done on the blockchain.
47. Renewable energy
Blockchain technology can make renewable energy more effective. It can help in direct energy sales, support the creation of microgrids with the help of the new tech, and help in creating stable and robust storage for renewable energy.
48. Crowdfunding
With blockchain technology, we can utilize contribution-based systems to aid in the growth of new projects or new companies. It could incentivize early investment and help improve crowdfunding models.
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49. Peer-to-peer lending
The peer-to-peer lending economy will see improvements with the help of blockchain technology. The blockchain will make the loan process faster and easier for lenders and borrowers.
50. Cloud storage services
With the help of decentralized cloud storage services, we will have cheap, fast, private, and secure cloud storage. No one will ever need to worry about their data being compromised or stolen again. Data breaches and hacks will be old news.
51. Centralized computing
Blockchain technology can potentially help with the growth of new decentralized supercomputing centers. With a blockchain-based system, nodes can provide computing power to help complete tasks and be rewarded with cryptocurrency.
52. Commercial drones
Using blockchain technology, commercial drones could become autonomous. They will have an identity, smart contracts, and a reputation system. We can use blockchain technology to create a new marketplace for trading resources or even physical products.
53. Mobile and wireless networking
Using the blockchain, we can build new apps that support mobile and wireless networking. They could help in constructing better mobile networks and improve location-based services.
54. Neural networks
Neural network software will evolve with the help of the blockchain. We can use it to organize and implement complex calculations.
55. Smart agents
In the near future, we can use smart contracts to deploy smart agents directly onto digital networks. This could help us in eliminating the middlemen, who charge too much for digital services, in our everyday lives.
56. Data security and privacy
With blockchain technology, we will have better data security and decentralized storage. The blockchain will give consumers better privacy and help them protect their data.
57. Advertising
The economics of digital advertising will be improved with the help of smart contracts. The blockchain could help in payment systems and sponsored content.
58. Music and video distribution
By creating decentralized content distribution networks, we can have a better, faster, and cheaper distribution platform.
59. Fund management
The blockchain can help investors understand the financial markets and help make investing smarter. It can also help in the issuance of smart and distributed investments.
60. Medical information and research
The blockchain could help secure medical records, enable researchers to publish important information, and transfer medical records between hospitals. It will also prevent the spread of fake medical information and advice.
61. Distributed anonymous messaging
The blockchain can help in distributed anonymous messaging services where every message is encrypted and transferred via peer-to-peer-based cryptographic protocols.
62. Decentralized internet services
We can use blockchain technology to build decentralized internet and data services. It could be used to introduce per-request billing or other custom billing methods.
63. Proof of Brain
"Proof of brain" will allow companies to reward contributors with cryptocurrency tokens based on the intellectual contributions of users. This will help in the growth of digital services.
64. Online stores
By opening up the supply chain, the blockchain can make it easier to manage inventory and provide live and real-time updates. It will also help in real-time information for food, drugs, and even legal documents.
65. Direct purchase with cryptocurrency
The blockchain can help create new products using cryptocurrency to power purchases and sales. It could help the growth of new microservices.
66. Advertisem*nt sales
With the help of the blockchain, we can build a network for advertisem*nts that use smart contracts to set up pay-per-click or pay-per-view. They could help the growth of the new advertising model.
67. Recordkeeping
We can use smart contracts to create a digital recordkeeping system. It is a secure way to store records and manage ownership.
68. Digital wills
With digital wills, we can transfer our assets to the beneficiaries and store them on the blockchain. This could prevent fraud and allow us to transfer the assets with ease.
69. Prediction market and forecasting
We can use prediction markets to build trading and betting platforms that use a new token and benefit from transaction fees. It can allow developers to build apps that monetize the forecasts of the new economy.
70. Anti-money-laundering tracking systems
An anti-money-laundering tracking system that uses blockchain to create immutable and transparent ledgers. The advent of blockchain technology has spawned a novel application for AML. The model for such a system is based on the concept of a blockchain of accounts that records all financial transactions in an immutable ledger, rather than the current system that relies on one trusted centralized AML manager.
71. Business development
Blockchain tech will enable the building of better business development tools and help in the growth of companies. It will make companies understand their customers better.
72. Coordination
The blockchain can help in coordinating global events in the groups of the same industry. For instance, it could help in coordinating global conferences hosted by a single company.
73. Public records
The blockchain can help in the re-building of public records. This can help track immovables, ancestry, and legally enforce the truth of the records. It could help in the growth of a new electronic civil system.
74. User-centric privacy protections
Today, a lot of platforms ask for too many permissions and make it easier for them to track users and their data. We can use the blockchain to build a secure and private ecosystem of data that protects our personal information from the likes of Facebook, Google, and Amazon. The decentralized nature of blockchain technology is especially attractive to those who are concerned about their privacy.
75. Crypto funds
Blockchains can help investors and managers of crypto funds to manage their assets, record the assets, and trade assets directly with the help of smart contracts.
76. NFT (Non-Fungible Tokens) Marketplaces
NFTs, or non-fungible tokens, are digital assets that are unique and cannot be replicated. They have the potential to become "the next big thing". Non-fungible tokens are similar to collectibles, but unlike them, these assets can be sent and traded freely. Ultimately, the non-fungible token revolution will be based on digital ownership and digital scarcity, which has not been possible before. The potential for NFTs is vast. NFT Marketplaces have a lot of advantages over traditional marketplaces.
77. Social media platforms backed by blockchain
Social media companies around the world have been struggling to make social media platforms secure and private. With blockchain, the platforms can be secure and private without having to rely on a third party. Blockchain has the power of decentralized storage as well as decentralization through encryption. With social media becoming more mainstream, it is important for companies to use this technology to protect their current users and future customers.
78. Token exchange
The blockchain can work as a decentralized platform for exchanges of crypto assets. An automated platform for transferring and exchanging crypto. For example, if you want to exchange BTC for ETH, the platform will automatically find a person who is selling ETH and buy it from them, then sell BTC. The transfer of crypto assets to fiat money is not required. In this case, the platform acts as a guarantor of transactions.
79. Reputation and censorship
We can build a system of trust for important works without intermediaries. It can help in storing the reputation of the users and the creators, personally giving us greater protection.
80. Escrow services
To build better reputation economies and build better trust between buyers and sellers, we can use a decentralized escrow service. It can protect the funds of buyers.
81. Credit History
We can create a new and decentralized credit history that uses smart contracts and various data sources to eliminate the need for a centralized, custodial credit agency. Credit history is a very important factor in our lives and can be extremely positive when it comes to borrowing money.
82. Travel and transportation
We can use the blockchain for ticketing and airline tickets that cover booking and travel. It could make the ticketing process better and faster.
83. Decentralized search
We can use blockchain to broaden the results for all users. This will ensure each user has equal access to sources. One of the most powerful tools that we have available as humans is Google Search Engine. We all know this web giant has a centralized business model, which means they can block any user for whatever reason, even without any solid reason. In a decentralized search engine, everyone can contribute their peer-reviewed knowledge. The web would become more open by helping readers find accurate information without being the product of pay-per-click advertisem*nts.
84. Digital identification and verification
Blockchain technology can help in creating a digital identity that can be used to verify our identity. It can eliminate the need for additional passwords and security questions.
85. Lotteries and gambling
Blockchain-based lotteries have the potential to reduce costs and attract a larger audience. They also have the potential to provide the means of gambling.
86. Decentralized video sharing
With decentralized video sharing, we can build new models for content distribution that are driven by the viewers. It can also change the revenue model of content delivery.
87. Decentralized marketplace
Independent smart contracts could lead to a decentralized-based marketplace. It would bypass the middlemen and allow us to build a new kind of autonomous corporation.
88. Decentralized crowdfunding platform
Decentralized crowdfunding platforms could help the masses to put forward and fund the projects easily. It could create an alternative economy of its own.
89. Virtual goods market
We can use blockchain currency to digitize and trade virtual goods in video games. This could help in the building of a revenue model that benefits the players.
90. Personal genomics
More affordable and accessible with the use of blockchain technology. To do this, can create a public decentralized database that contains the genomic information of any individual who desires to share it. This database will incentivize the sequencing of genomes and improve the rate of personal genomics. We can develop a set of algorithms to prevent the centralization, monopolization, and commercialization of individual genomic information.
91. Fight against corruption
Blockchain can be an effective solution in the fight against corruption. Japan’s central bank has already started studying the use of blockchain technology in combating corruption. The Bank of Japan (BoJ) launched a project to explore how distributed ledger technology can be used to ensure the integrity and transparency of government spending. Blockchain can be successfully used in the fight against corruption, as it is secure and transparent.
92. Predictive maintenance
The increasing complexity of industrial machines and devices makes it difficult for engineers to perform accurate failure analyses. Predictive maintenance is a method of maintenance that seeks to predict the future malfunctions or failures of machines and devices. Well, blockchain can be used for predictive maintenance by automating the maintenance process with smart contracts. Blockchain technology enables us to monitor the maintenance process in real-time and provide transparency to all stakeholders.
93. Decentralized internet
We can start building internet companies that harness the power of the new decentralized internet. We can start with decentralized cloud storage and decentralized web hosting services.
94. Human resources
Blockchains can help recruit and find the best talent for the job. It could help in the growth of new job marketplaces meant to directly connect employers and employees.
95. Smart regulators
With the use of blockchain, we can make the regulators smart enough to predict crimes or accidents. It will also help bring offenders to justice.
96. Self-funded flexible jobs
With blockchain technology, it would become easy to create self-funded flexible jobs for the employed and the unemployed. This could help in the growth of a new sector of employment.
97. Decentralized commodities market
With blockchain, we can create a new decentralized, lighting-fast commodities market. It can lead to an easy mechanism for buying and selling commodities.
98. Seasonal changes and growth forecasting
Blockchain can help us in seasonal changes and in the growth mapping of the economy. This can help us understand the periodic nature of growth with ease.
99. Academic research and research collaboration
Blockchain can help build new academic sources of information. Going forward, universities and other academics can use the blockchain to verify and store their research. Researchers can use blockchains to create an open-source peer-reviewed journal.
100. Alternative to Wikipedia
Blockchain can help create an open-source encyclopedia that is updated by the users. This could make it easier for us to check the truthfulness of the information and its accuracy. Libraries could store a shared blockchain-based database of books.
101. Democratization of power
Blockchain can help democratize power. For centuries, power has been centralizing to a smaller set of people. With the blockchain, power can be decentralized. This means that the power is spread out, instead of being centralized in one company or individual.
Conclusion:
With blockchain, we can redefine many of our systems and create better structures that are made more secure, trustable, and efficient. These uses have the potential to change our world.
The blockchain is still in the early adoption phase, which means that the technology is still in the process of being tested and perfected.It will be a little while before we will see a revolution like that of the World Wide Web. But in the next few years, we will see many uses of the blockchain becoming mainstream. It can bridge the gap between the public and the private sector.
It is already quite easy to see that this new information technology will have a major impact on the world as we know it.
Daniel Stoica | All rights reserved
