When people think of blockchain technology, the thing that immediately comes to mind is finance and the banking industry. Already blockchain is changing the way that people look at money. Bitcoin and other virtual currencies present new investment opportunities all over the globe, and many people are using it as a new way to pay for things online.
The popularity of cryptocurrencies has already proven the usefulness of blockchain when it comes to finance, yet many experts believe that this technology can help to improve a great deal more industries than finance.
Anything that has a use for a transparent, verifiable register of transaction data could potentially use blockchain technology in the future. This will mean a cut in both costs and time, as well as increased security and ease of use. Here are a few industries we may see adopting these methods in the future.
One of the biggest problems the healthcare sector is currently facing is the fact that industries are unable to securely share data across platforms. However, if the information at BitFortune.net is to be trusted, blockchain is able to provide a solution to this problem, as it can allow hospitals to share access to their networks without ever compromising data security.
When taking part in an election, voters are required to have their identity authenticated, with trusted tallies needed to determine the winner. Blockchain could be used to not only count the votes, but also cast and track them, which could eliminate the need for recounts and essentially remove voter fraud.
An issue with real estate is that there is often a lack of transparency both during and after transactions have taken place. Not to mention the huge amount of paperwork involved and the errors that could take place. The blockchain will reduce the need for paperwork, essentially speeding up the whole process.
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Blockchain can help retailer offer these types of services to their customers by making them cheaper and more secure. This is because there will be fewer middlemen needed to process the issuing of cards and sales transactions.