7 Major Industries Blockchain Technology is Disrupting

Trust, the major factor people consider when taking a decision. Be it making a transaction from one source to another, providing information to financial institutions, taking legal advice, relying on a physician or even relying on the food we eat. The need for managing trust has become an integral part of the industry. But today, we have a solution – all thanks to blockchain technology.

Though bitcoin’s popularity proved the efficacy in the finance industry, there are other entrepreneurs who believe that blockchain has the potential of transforming other industries as well.

Blockchain technology – facts to consider:

  1. 65% have a positive societal impact and it goes beyond their own businesses.
  2. There are already 44% of organizations that have adapted artificial intelligence.

According to the infographic, we can see the top industries that have implemented blockchain technology because of its security, decentralization, transparency, cost reduction, and privacy it has to offer. This technology has shifted the way we perceive trust, and this will continue to transform many more industries soon. Blockchain technology is going to become more popular and widely adopted, let’s first have a look at the top 7 industries blockchain already disrupted.

  1. Real estate sector – Renting and purchasing a house or a property gets tough without proper transparency, there are stacks of paperwork needed to be taken care of, the involvement of brokers to do the negotiations etc. Well, blockchain offers this industry a solution to improve proper regulation.
  1. Healthcare sector – Blockchain plays an important role in the healthcare industry from transforming healthcare to providing patients a way to access medical records in one place, receive more accurate diagnosis etc.
  1. Banking sector – Most of the financial organizations have started investing in blockchain since it allows them to send digital assets in a secured manner, automating payments in a way where the third party doesn’t need to approve the transactions.
  1. Government – Corruption that involves welfare disability, veterans’ benefits, and unemployment benefits can be verified and easily distributed through blockchain technology.
  1. Startups – Startups are already developing decentralization to help connect buyers and sellers without the involvement of a middleman.
  1. Legal sector – Retrieving, storing and verifying documents are some key functions in the legal industry. Questions over the legality of wills, digital inheritance can easily be eliminated with the help of blockchain.
  1. Video – The cost of video traffic can be reduced by decentralization video encoding, content distribution, and storage with the help of blockchain.

As blockchain continue to evolve, the demand for skilled professionals will increase. Additionally, with the increasing demand for such experts, certified professionals in the current market are preferred by most blockchain technology companies. Blockchain enthusiasts are now looking for credible blockchain certification provider to help boost their knowledge with this disruptive skill.

Comments are closed.