The current uses of Blockchain technology serve as an insight into the promising future it holds for different industries. In the media industry, blockchain technology can, in the future, be used to end piracy. In the same way, a public ledger system that prevents one from using another person’s digital currency can be employed to prevent people on the internet from duplicating content they have not bought.
Blockchain can also end identity theft, affecting an average of 16 Million citizens annually. Blockchain is decentralized, and each person has a digital identity; therefore, hackers will not have a centralized authority to target and corrupt. The same technology can also be used online voting to reduce election malpractices.
The real estate industry can also benefit immensely from blockchain technology. The blockchain can keep a record of what belongs to who and update itself in the event of a transfer. This will reduce the hustle of going to a public record building for something as simple as a title search.
In conclusion, blockchain technology is extremely promising. Its uses are diverse and can be applied across numerous sectors, such as finance, media, governance, and healthcare. It also grows rapidly, with a new use discovered every other day.
