Blockchain in everyday life
After the success of cryptocurrencies it is no wonder that blockchain is being implemented in more sectors of our lives. However, all we know about blockchain is from the perspective of the developers or crypto experts. When it comes to common man, then they don’t have much idea about it and how it can influence their lives. These days blockchain solutions can be found everywhere from healthcare to media and are something that the whole world starts to depend on. Let’s find out how blockchain can make your life better.
Starting up with finances. Banks around the globe strive to upgrade their security, making cryptocurrency wallets for holding and tracking balances in different currencies, using blockchain to manage bank guarantees or just for more secure transactions and fraud combating measures. Solutions for banks are not everything thou, shipping and transport consortium revealed plans on making a new blockchain-based system for streamlining marine insurances. Smart contracts using multiple virtual machines, novel hybrid Proof-of-Work and Proof-of-Stake and new Oracle system for integration of real-world data to the blockchain as well whole markets for the trading of derivatives and financial instruments are functioning now, bringing managing of finances to whole another level.
Born in Estonia, a unique solution for securing personal information on patients health records by using a “keyless” signature system is gaining the interest of other companies such as Verizon for its safeguarding abilities. Also, we can hear about alternative public key infrastructure, which aims to replace login and passwords with SSL certificates in order to increase security.
New ideas for health-related systems are in the making. Storing patients records as well as tracking their recovery progress after leaving the hospital should be possible in the near future. More so, the Centre for Disease control is funding a startup to put disease outbreak data onto the blockchain to increase the effectiveness of disaster relief and response, making our lives even safer.
The main focus in the industrial world seems to be securing of supply chains as well as anti-counterfeit measures, with initial use cases in the diamond, pharmaceutics, and luxury goods market. Great weight is also being put on prototyping, by creating blockchain frameworks for collaborating on a proof-of-concept. And energy cost reductions, allowing members to produce and store energy, as well as new cloud storage which allows users to share hard drive space.
Dubai, which strives to be the first blockchain-powered state, as well as the United States, Estonia, United Kingdom, South Korea, and many other countries are investing huge sums in the blockchain. The unique nature of blockchain enables them to store data on-chain making it transparent and secure. Those countries are trying to adapt blockchain into everyday works of government such as securing public records, creating transparent voting systems, improving public security and transport applications.
Intellectual Property has been a hot topic lately, changing of copyright laws in Europe pushes developers into making blockchain-base tracking systems for intellectual property. Those solutions will allow photographs as well as music creators to keep track of their payments and royalties as well as creating a record of ownership of their work.
Save The Children, The Water Project and Medic Mobile are just three of charities working on making charity donations more transparent and safer for the comfort of all donators. Blockchain makes it easier to share and store digital data, and may also be used to ensure that important documents or contracts cannot be modified without the approval of all involved members. More so, the nature of blockchain makes it uniquely suitable for international transactions.
Leasing a car can be complicated and frustrating, that is why IBM Blockchain Solutions has said it will go public with a number of non-finance related blockchain initiatives with partners all over the globe, to improve the efficiency of the vehicle leasing industry. For those who don’t have a car, there’s always a number of applications that aim to beat Uber, moving ride sharing and car hiring onto the blockchain. The same goes for blockchain solution which synchronizes empty seats with passengers in need of a lift. It seems that in the near future we will be able to get everywhere faster and cheaper.
Real Estate and Tourism
No mater buying a house or renting a flat, paperwork that comes with it could drown anyone. That’s why new apartment tracking systems are in development. Showing empty flats, minimizing the number of documents that come with rent and securing the deal, all more efficient than ever. If you are looking for a house to settle in or a flat for vacation this is the option for you.
In the Retail sector, we can see a great shift toward blockchain, new ideas for personal trading such as OpenBazaar which allows trading of goods and services without a middleman, or Loyyal, universal loyalty framework aiming to allow its users combining and trading of loyalty rewards. In the near future, we can even see things like Bitcoin gift cards or cryptocurrency loyalty scheme.
As you can see, nowadays, blockchain is present in every area of our lives. Growing bigger from year to year it appears that it’s only a question of creativity to implement it in more sectors. Give it a few years and Blockchain is definitely going to bring in some significant changes and innovations in the business functioning.