Yes, the blockchain is one of the most promising latest technologies for the future! Before that get some clear idea about “Blockchain” and their industries are using blockchain technologies for the business requirements!
What is The Blockchain?
The blockchain is a public ledger technology that discovers cryptocurrencies like bitcoin and platforms like Ethereum. It offers a new way to record and share data that is transparent, safe, adaptable and resistant to outages. This latest technology has the ability to build the industries that use it transparent, decentralized, active, and secure.
It will likely to disrupt many industries in the coming years. These are some of the industries it’s already disrupting.
1.Banking and Payments
Many banks are working on adopting blockchain technology to build their business operations very faster, more active and secure. Banks are also boosting investing in blockchain startups and business projects. Some universal researchers predict that 17% of banks will be using the blockchain technology by the last year 2017.
While the blockchain ledger is public, the data’s is verified and encrusted using latest cryptography. This way the data are less prone to being hacked or changed without authority. So with blockchain technology, the data’s are avail in high-secure mode. So most of the Cyber based networks build their platform with help latest blockchain technology.
3. Supply Chain Management
With help of blockchain technology, online transactions can be indexed in a permanent decentralized record and tracked securely and certainly. So it can reduce time delays and human fault. It can also be used to verify costs, workers and even waste an issue at every moment of the supply chain.
The blockchain is set to change the entire approach to research, consulting, analysis and forecasting. Online platforms like Augur are looking to create global decentralized prediction markets. These technologies can be used to place and monitor bets on anything from sports to stocks to elections in a decentralized way.
5. Networking and the Internet
Most of the networking companies using blockchain technology like Samsung and IBM for the concept of ADEPT. It will build a decentralized platform of an Internet of Things Devices(IoT). Running like a public ledger for the huge number of devices, it could remove the need for a common location to manage communication between them. The IoT devices would be possible to communicate to each other exactly to update software, manage bugs, and monitor energy usage.
The global insurance network is based on trust-based administration. The blockchain is the latest way of managing trust and can be used to verify all types of data in insurance contracts, such as the insured user's identity. So this technology is very useful for any type of insurance that build on real-world data.
7. Private Transport
The blockchain can be used to build decentralized versions of P2P ridesharing apps, allowing both transport owners and customers to arrange terms and conditions in a secure way without middleman providers.
8. Cloud Storage
Data on a centralized server is naturally susceptible to hacking, data loss, or human mistakes. Using blockchain technology allows cloud storage to be more secure and robust against hacks. Most of the business industries are using blockchain cloud storage for their business requirements.
Most of the Charity use blockchain technology because it’s more secure and share distributed data are to let donors see that, the expected party has received the funds or not.
Blockchain technology can be used for voter registration and identity verification, and electronic vote counting to assure that only correct votes are counted, and no votes are removed. So this technology is will help in make elections more fair and democratic.
Government systems are often slow, dirty and prone to corruption. Executing blockchain technology can automatically reduce human work and increase security, efficiency, and transparency of government activities.
12. Public Benefits
The public benefits system is another sector that affects from slowness. Blockchain technology can help fix, verify, and distribute welfare benefits in a much more streamlined and secure way.
Blockchain technology can allow hospitals to safely store data like medical records and share it with authorized experts or patients. This can improve data security and can even help with the accuracy and speed of diagnosis.
14. Effective Energy Management
Energy management has been a highly centralized industry for a long time. Energy producers and users cannot buy it directly from each other and have to go through the public grid or a trusted private intermediary. So if you are startup using Ethereum that allows users to buy and sell energy from each other in a P2P way.
15. Online Music Store
Numerous startups are coming up with the latest ways for musicians to get paid directly from their fans, without giving up a large amount of sales to record companies. Smart contracts can also be used to undoubtedly solve licensing issues.
Decentralized blockchain-based retail function work differently: they connect buyers and sellers without a third party and common fees. In these cases, trust comes from legal smart contract structure, the security of exchanges & trading, and built-in best reputation management Software.
17. Real Estate
Some of the problems in buying and selling real estate are management, lack of clearness, fraud, and mistakes in public records. Using the latest blockchain technology can speed up transactions by reducing the need for paper-based record keeping. It can also help with tracking, verifying partnership, assuring efficiency of documents, and transferring property reality. So blockchain-secured technology for real estate document-keeping that is an alternative for legacy paper-based systems.
Crowdfunding has become a most popular method of fundraising for new startups in recent years. Crowdfunding platforms continue to build trust between business peoples and investors, but they also charge high fees. In blockchain-based crowdfunding, trust is instead created through smart contracts and online reputation systems, which take out the need for a middle-man. New business projects can raise funds by delivering their own tokens that represent value and can later be exchanged for products, services, or cash. Many blockchain startups have now raised millions of dollars through like token sales. So in the upcoming days, the blockchain-based crowdfunding play an important role in business industries.
19. Your Business Industry
If your business industry deals with data or transactions of any platform, it is a field that can likely be disrupted by latest blockchain technology.
Are you looking for the best blockchain solution for your business industry?
Pulsehyip is one of the best blockchain development company in India and it provides end-end blockchain cloud storage solutions for your startup business. Hire our dedicated & skilfull Blockchain developers who have in-depth knowledge in blockchain technology to develop the custom blockchain with decentralization application for your business requirements.
19 Industries Being Disrupted by Blockchain
Courtesy - Future Thinkers