How Blockchain Technology Has Revolutionised Different Industries
There’s absolutely no doubt that blockchain tech has changed the world. This rather complex piece of technology has now grown from a niche topic that only coders would talk about to being used in everyday industries.
From depositing at the best Bitcoin casinos that you can find at CasinoOnlineIn to storing patient records in healthcare, we’re going to take a deeper look at some of the industries that have been able to implement Blockchain technology.
Money Transfer
The industry that this technology has had the biggest impact on is probably money transfer. Almost everyone knows cryptocurrency – especially Bitcoin – and all of these are made available thanks to this tech.
Bitcoin, Litecoin and other cryptocurrencies are super secure, allowing people to transfer money instantly whilst remaining anonymous. These digital currencies are only set to get bigger as online stores start to accept them and more countries pass legislation around them. It’s too big to ignore!
Online casinos
Next up is a thriving industry and that’s online casinos. The use of blockchain-driven technology is still rather new at online gambling sites, but one aspect that was integrated into the sites is the aforementioned cryptocurrencies. Players can make secure deposits and withdrawals at select casinos using their favorite digital currency and crypto casinos are yet another trend that’s rising.
Blockchain tech has also impacted other areas of the online casino industry. It’s allowed the creation of provably fair games. These games show every single result and players can check each of these results themselves. This allows for a whole new level of fair play and transparency when it comes to online gambling.
Healthcare
Another huge industry that is being helped immeasurably by Blockchain tech is healthcare. Plans have already been put in motion to create patient files on the blockchain. This would help various healthcare establishments and schemes save millions, by making sure there are no mismatches in patient records.
These records would also be incredibly secure. This is a massive issue for the healthcare industry – it’s estimated that between 2009 and 2018 more than 176 million confidential patient files were hacked by a data breach. This included both personal information and banking information. Secure blockchain tech would put an end to this problem, keeping patients safe and saving the healthcare system countless time and money.
The Real estate sector
People move home about 12 times in their life. One of the big headaches can be all of the financial checks and the potential risk of fraud. This is no longer a problem thanks to the blockchain.
Using records stored on the blockchain helps to eliminate most of these issues. Potential buyers or sellers could simply get their financial checks done through the tech, saving time, money and resources.
The media industry
A surprising industry that has started to use this technology is big media. Some companies in the sector have started to use blockchain technology to help protect the IP or intellectual property rights of the content they make.
Companies have started using the tech to help content creators share their content whilst protecting it from theft. Even global media giant MGM has started researching how to use blockchain technology for its streaming.
Governments
Thanks to the tight security that is offered, many governments around the globe are figuring out ways to integrate this tech into their systems. The main application would be record management. Thanks to the fact anything stored on the blockchain can have limited access when it comes to editing, it makes for a perfect case-use example.
It would also be perfect for voting. Fraudulent voting is a huge problem when it comes to elections and a prominent issue whenever there’s a presidential race in America. Hackers can get into databases and edit voting records with the current system – something that’s impossible when using blockchain technology.
Analyzing big data and data storage
Finally, we have data management. Every piece of data that is passed through the blockchain is analyzed and then stored. This makes it ideal for situations where vast quantities of data need to be managed and stored. This applies to a number of industries including the financial sector, economics and more.
