Blockchain, the revolutionary technology that has taken the world by
Blockchain, the revolutionary technology that has taken the world by storm, has ended the year 2018 on a high note.
Having been deployed and integrated in various sectors across the world, in different countries by democratic and authoritarian regimes alike, it has stood the test of time and emerged as the technology of the decade.
Amongst its most coveted features, is its transparency, immutable nature, public access, and tamper proof design. Cryptocurrency was just one of the use cases of blockchain. Besides that, it has emerged as a highly disruptive technology against many traditional sectors.
As we move into the year 2019, technology is going to be a driving force in our society, more than ever.
As the world keeps getting smaller by the second, boundaries start shrinking to dots on the horizon, and as technology weaves lives of individuals together for both good and bad, blockchain has the potential to alter the face of things as we know it.
Many traditional financial institutions are starting to use Blockchain like Ripple, to facilitate cross border payments and make it less time consuming and more efficient.
Supply chain management has become so much more convenient and hassle free due to the benefits of storing all the information at every step, on blockchain. This makes the system more secure and more transparent for producer and consumer alike.
Blockchain has proved to be a real boon in the sector of healthcare, where it has brought medical practitioners closer to those in need of medical help. By eliminating counterfeit drugs, implementing fair prices for medical services and providing all necessary information regarding treatments and medicines in one place, blockchain has demonstrated its genuine necessity in the healthcare sector.
These days, even industries which have nothing to do with cryptocurrency are looking at blockchain as a lucrative asset, that can drive their business forward.
The only thing that is blocking the way of blockchain is lack of awareness. People generally resist change, they do not like to change a system that they are familiar with, and that they are comfortable with.
This is why most people do not even make an effort to understand blockchain and the technology behind it, let alone promote it.
However, with major governments integrating the technology in their administration, it really looks like blockchain technology will find wider acceptance in the year to come.
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