Why Blockchain is the future
By Fábio Costa, Tech Lead at AppCoins
Blockchain is a technology that provides trust and transparency to its users. Almost any structured information can be stored in a blockchain, resulting in endless business applications that can play a huge part in the business world and in our personal lives.
I have selected 5 ways BlockChain can change the world as we know it, so you can understand how big it can be:
1. Stronger cybersecurity
By keeping data decentralised, with no single location, Blockchain can hold all the confidential records of an organisation or an individual.
The data is also encrypted and cross-checked by the whole network, making it almost impossible to be altered or removed without it being noticed or requiring a signature. For the cybersecurity industry, this can be an important potential advantage.
2 . New ways to find a job
Using Blockchain, companies will eventually be able to share a safe database with “digital profiles” of individuals.
Recruiters and hiring managers will be able to pull up a public Blockchain to learn more about a candidate, including their performance indicators and employment history.
LinkedIn and other professional social media platforms will probably be obsolete by then.
3. Better healthcare
Imagine that our health data would be available in the healthcare system, meaning any doctor could access it in order to treat us in a more efficient way? Or that they could track and reward patients who keep their appointments, stay healthy, and contribute their data for further clinical research?
Right now, that’s not possible, security wise. However, in the closer future, that’s a likely reality — as Blockchain can be used to maintain the integrity of medical records.
4. Smarter homes
We are not the only ones connected to a network all day long. Our homes — refrigerators, air conditioners, TVs, even cars — can already be operated from a central location, which from a security perspective, can be a critical situation.
Blockchain can solve these security risks as it decentralises data and brings new possibilities for the Internet of Things (IOT). We can expect smarter homes in the future!
5. Lower financial taxes
Gartner Research suggests that Blockchain’s business value-add will grow to $176 billion by 2025. One of the reasons is that the technology has a great potential to reduce costs, specially for financial institutions.
Sending money to someone, even between different countries, is already a cheaper reality in current day. For that, you can use AppCoins Wallet, by the way. :)
Doing any sort of financial activity — such as buying a car or a house — will be even easier and probably have lower taxes in the future, all thanks to the accuracy of Blockchain technology.
AppCoins, is the First Blockchain-Based Protocol for app stores. Our business model has already made a considerable impact on the app economy, enabling a transition towards a circular economy where the value, that was previously drained by intermediaries, stays in the system.
All this is only possible because of the blockchain. In the AppCoins ecosystem, the technology has a very important role in order to maintain trust and transparency for the developers and users.
To do that, we register every transaction in the blockchain and, since they are immutable, everyone involved can keep track of their earning and be sure that no one is cheating them.
I really believe blockchain has a huge potential to change the way we live and do business. Let’s see what the future holds.
This article was written by Fábio Costa, Tech Lead at AppCoins