WHERE WILL BLOCKCHAIN TECHNOLOGY MOSTLY BE USED?
Cryptocurrencies are a type of alternative and virtual currency that are decentralized and built on Blockchain technology. Bitcoin would be a very popular example of this.
These are legally binding programmable digitized contracts entered on the blockchain. Giving computers control over contracts will make business more efficient and the legal system more equitable.
Banking and Finance
All the world’s major banks are currently investing heavily in Blockchain Technology as it offers many advantages, especially in the areas of audit and regulation.
By placing all property records on the chain, prospective buyers will be able to immediately verify all requirements including ownership, title, land registry, insurance, etc..
This technology should become incredibly appealing to the healthcare profession as it could allow doctors and hospitals secure access to a patient’s entire health history there and then.
The supply of goods or services blockchain ledger can be updated and validated in realtime by each participant in the supply chain. It enables equal visibility of activities and reveals where an asset is at any point in time, who owns it and what condition it’s in.
The above is only a small selection of where blockchain technology may apply in the future.
If you would like to know more about Blockchain and how it may affect your industry in the coming years contact RML Marketing & Business Development Solutions today