16 Industries That Will Be Revolutionized by Blockchain 2
In the article “16 Industries That Will Be Revolutionized by Blockchain 1“, I have introduced the significance of blockchain to eight industries, including banking, cyber security, supply chain management, networking & the Internet of Things, insurance, private transport & ride sharing, cloud technology, charity, then I will continue to introduce the impact of blockchain in voting, government, healthcare, energy management, online music, retail, real estate, crowdfunding.
Benefit: Security and integrity; Transparency
Sierra Leone is the first country with blockchain-verified electronic voting in 2018.
Russia tested blockchain to protect 2018 presidential exit poll data.
The Blockchain allows for the creation of publicly viewable, time stamped and signed transactions (records) that cannot be altered or deleted.
Benefit: Eliminate government/third party involvement; Enable transparent, fast, cost-efficient transactions; Reduce corruption at the state level; More opportunities for companies to manage their assets; Secure assets and assure data privacy
Dubai is aiming to put all its government documents on the blockchain by 2020.
GovCoin is a UK-based company that is helping the government to distribute public benefits using blockchain technology.
Benefit: Complete medical histories of patients for use by physicians; Tamper-resistant means of storing medical histories; Reduce time and increase efficiency in providing quotes
The goal with MedRec is to give patients and their providers one-stop access to their entire medical history across all providers.
PokitDok uses blockchain to provide a secure network for all sources of patient data, from EMRs to medical devices and pharmacies.
12 Energy Management
Benefit: Improve transaction security and data quality; Reduce transaction costs and settlement time; Promote alternative energy sources and shared energy
The decentralized nature of the blockchain enables innovation in the transaction process.
KEPCO announced plans to build electric vehicle charging stations using blockchain technology In 2017.
13 Online Music
Benefit: Validate and register transactions; Revolutionize the monetization of music; Transform publishing; Payment
PeerTracks introduced the concept of “artist tokens,” a limited and tradable currency that artists hand out to their fans in 2016.
BitTunes offers a bitcoin-based peer-to-peer file-sharing platform that enables ordinary people to become a distribution channel for their own digital.
Benefit: Transparency in logistics, ability to store and track all data; Better tracking of buying habits; Proof of ownership and resale; Increased trust due to decentralization
There are now massive corporations accepting digital currencies: AT&T, Nordstrom, Amazon’s Whole Foods and more.
Overstock.com started accepting bitcoin in 2014.
15 Real Estate
Benefit: Increased transparency in all the records; Prevention of fraud; No third parties, and therefore reduced cost; Smart contracts; Automated payments to property investors
Lake Tahoe property was sold for 2,739 bitcoins or $1.6M in 2014.
Manhattan Real Estate started to accept bitcoin in 2014.
Benefit: Online and offline payment processing; Better business processes; Efficiency in supply chain management; Tokenization of assets
Acorn uses the decentralized blockchain for transaction verification/storage.
Wefunder, first equity crowdfunding platform, started to accept bitcoin in 2016.
Embracing blockchain, perhaps in the near future, blockchain will become role models for many emerging economies.
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