The disruption of blockchain is currently only at the very early stages. In the coming years it is likely that a huge range of industries will be disrupted by this relatively new and innovative technology. In general, emerging technologies can be exciting, they open the door to a huge range of possibilities across the globe. Although these breakthroughs can have a big impact on how we live our daily lives, they can also often disrupt entire industries.
A blockchain can be described as a digital lodger system which can be used to securely record transactions. Here are a few industries that are likely to be disrupted in the near future!
Banking – There are some very significant problems when it comes to traditional banking, and blockchain has the potential to solve them. Blockchain could provide permanent records of the millions of transactions that take place on a daily basis, while also being cheaper and faster than the methods used today.
Healthcare – This new technology will be able to securely store medical records which will only be accessed by authorised people.
Real Estate – When it comes to buying and selling houses, a huge amount of paperwork is involved. Blockchain can completely reinvent this whole process for the better, with all the records stored securely, meaning a lot less work and cost!
Gambling – According to BitFortune there are many websites out there that are both legitimate and legal where you can gamble using blockchain technology.
Legal – Records can be securely stored on the blockchain when it comes to the legal industry, including wills. It has the potential to eliminate any legal issues dealing with inheritance, and can prevent lengthy court battles.