As we discussed in one of our last posts, that How blockchain will change the real estate industry, I want to mention a few another industry which will be also reformed by the blockchain.
Probably this one will be one of the first “revolutionized” industry by blockchain. A well-implemented blockchain technology will cause lower transaction fees and also way faster nearly instantaneous transaction time, and this will save a lot of time and money for the customers and the banks as well.
Companys that offer cloud storage, stores their customers’ data in a centralized server, which leads to a higher network vulnerability from attacks by hackers. Blockchain cloud storage solutions offer decentralized storage, which causes a significantly lower vulnerability, and also lower fees.
Elections require authentication of voters identity, secure record keeping to track votes. Blockchain tools could serve as a foundational infrastructure for casting, tracking, and counting votes and also potentially eliminating the need for recounts by taking voter fraud.
As you can see blockchain can be used everywhere, I’ve tried to mention three absolutely different industries to show how many possibilities are there and we are only at the beginning of the rise of the blockchain.