How Blockchain Will Change the Business World
There’s no doubt the blockchain provides the prospect of changing the business world. And not just in small ways but in fundamental ways that can radically transform the way we do business.
Not only are we talking about some businesses possibly disappearing due to the change, much like what we saw with Kodak and Blockbuster, we are also talking about the eradication of entire industries. Indeed some industries that are major players in our economy today may become unnecessary in a world of blockchain.
In the firm belief that the future favors the prepared let’s take a moment, pause and look at some possible changes which may result from this upcoming technological changes.
- Banking
The use of cryptocurrency, which is based on blockchain technology, presents the opportunity of removing, eliminating or at least lessing the use of banks in our economic system as money can be transferred directly between buyer and seller. This could fundamentally change how money is transferred between parties and the power structure within the government and the private sector.
2. Payments
Blockchain based payment systems, and blockchain inventory systems, linked to cryptocurrency for payment through smart contracts or otherwise, will allow payments that…
