4 Ways Blockchain is Changing the World

As 2017 saw the rise of interest in crypto and the blockchain, a lot of people are wondering what is there to do with it. Everyone has heard of Bitcoin, but blockchain technology is capable of so much more! Find out how businesses in all industries are innovating with blockchain.

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Eight Ways Blockchain Will Impact The World Beyond Cryptocurrency


The world keeps evolving and every day we encounter new and innovative things that are made for the sole purpose of making our lives easier. Previously, there was no such things as mobile phones, Tv’s, computers etc but guess what? We now have the future in our hands, we have internet which is no less than a blessing to us. Think how simpler life is now, you just type what you want on the internet and there you have millions of results pop up in front of you. Speaking of technology and internet, how can we not talk about the world of blockchain which is currently the buzzword of the digital word. Blockchain is not only limited to bitcoin, in fact you can say that it’s a whole another universe of cryptocurrencies.

The technology of blockchain is basically poised to dramatically transform the ecommerce industry all around the world and it has already taken over healthcare, legal services and other financial industries. Right now, there is no doubt in the fact that bitcoin is the most prevalent example of the blockchain technology but again, there is a lot more you need to know about it. The blockchain social media is just making headlines all around the world and this isn’t it. In fact, there is so much that this technology has done and is doing for us that you can’t even imagine.

Here are a few ways companies are using the bitcoin technology to pioneer the new solutions to the old problems; 

1-Record keeping 

Blockchain is undoubtedly able to keep and maintain the records of massive financial transactions and now this technology is home to all kinds of sensitive information too. So, it really helps the record keeping sector where all the financial informations and stocks etc are secured. Most importantly, this technology is helping the medical and the educational sector. One of the most daunting tasks for hospitals were to keep a track of their patient’s information and medical history on the internet but now luckily blockchain is here to sort out this problem for the medical sector. Similarly, the educational sector is now able to come up with management systems that are helping them keep records of their student informations, educational data and digital transcripts. 

2-FINTECH 

Fintech basically stands for financial technologies but unlike the other cryptocurrency platforms, this one is used by the financial sectors and banks in order to provide more convenient transaction options to other businesses and their customers. 

How is blockchain technology going to change the world?

Here, the blockchain technology basically serves as a secure platform that can help people transfer funds without worrying about the safety of their data and personal or financial information. 

3-Food inventory tracking 

Food suppliers are now able to keep records of the journey from the farm to the distributors, to the retailers. Usually what happens is that when a foodborne illness breaks out, the consumers question the road through which the meat and the other food items were delivered. Now, this can actually help the food inventory trackers as they can breakdown the place where the problem or the illness initiated by checking the tracking records. RIPE.IO is a great example, it’s a blockchain application that aims to transform the fresh produce food supply chain by enabling data transparency and transfer from farm to fork. All the data that is transferred from this application is cryptographically sealed in order to ensure safety and ownership. 

4-Knowledge Sharing 


Everipedia is famous as the first encyclopedia on blockchain, it recently announced the plans to build a whole new open source network of wiki that will be decentralizing the Wikipedia knowledge base by allowing each and every editor to become a stakeholder in the network. In this system, all of the users will first have to ante up their contributions and if they ever insert an inaccurate information, they will lose the token and those who insert the accurate information, they will receive their original tokens back along with some plus and bonuses.

6 Unexpected Ways Blockchain Is Changing the World
How is blockchain technology going to change the world?

These are a few ways that indicate that yes the blockchain technology is changing the world dramatically. This isn’t it in fact, if you make some detailed research on this topic, you will see that more than half of the world is currently using this new and innovative technology to make their lives easier and better. 

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