Blockchain — 5 ways the technology will impact society in the future
ARYZE Ambassador, Abishek Wadhwa, looks into the potential of blockchain for disrupting industries and making changes for the better in various aspects of modern life.
Blockchain, pioneered by “Satoshi Nakamoto” in 2008, has been the talk of the town for over two years now. A blockchain is essentially an advanced time-stamped, traceable, immutable record keeping technology on a decentralized network managed by a cluster of computers instead of an individual entity.
Of late, blockchain has emerged to be among the most popular buzzwords, not just in the payment industry, but across multiple industries. Despite the colossal potential of this tremendous technology, not all countries are in solidarity with its adoption.
From Estonia openly embracing blockchain, utilizing it in judicial, legislative, health, cyber security, and banking applications, to countries like Switzerland, Sweden, the United States, and South Korea being receptive to the future of Blockchain, the potential mass adoption of blockchain is indisputable.
Blockchain holds the key to revolutionizing the current industries, and five of those have been discussed below.
