How Blockchain is the savior for a post-COVID world
“Blockchain technology is coming to replace the old, rotten system of governance around the world. Embrace it!”
― Olawale Daniel
After every pandemic, we have seen a distracting change in industries. The industry will take these changes seriously after this COVID is over. The supply chain will become more transparent, tracking of inventory, updating of records will grow faster. The drive-in cinema will take a boom in India and other countries. The shared office culture will boom as people will go only for meetings in the office and rest work from home.
Industries are preparing for it with the help of technologies like Blockchain, AI, IoT, Cybersecurity, VR, AR e.t.c. The culture of work from home, online education will rise in India. The tourism industry is going to see most of the changes with people becoming circumspect. The education sector will shift to online with the help of Telecom and govt regulations. The telecom industry will go for 5G as fast internet will become necessary. The major problem will be faced by the real estate sector, which can revive if Blockchain is implemented as technology on time.
Blockchain for supply chain
The supply chains have become more transparent with the help of Blockchain. After COVID is over, people will fear to buy Eatable products as they have seen pandemic. The Blockchain will help in getting to know the source of the product with ledger technology. People will trust technology rather than human words. People will be able to track the source of the products. There will be a significant burden on the supply chain of industries as there will be a huge demand for necessary products. Blockchain will help to make their records updating faster.
Blockchain for healthcare
Health care will become fully digital with the help of Blockchain. The ledger technology of Blockchain facilitates the secure transfer of patient medical records, manages the medicine supply chain. Digital health will see a massive demand in the future with the help of Blockchain. Blockchain technology allows patients to assign access to their medical data.
Blockchain for Realestate
Tokenizing real estate assets refers to a process in which a property owner can offer digital tokens to represent a share of their property. Using a blockchain to track these investments, with each transaction being time-stamped and immutable, makes it possible to limit the risk of fraud. Real estate is already going digital by updating records with the help of Blockchain. The people will start to invest in real estate in groups with the help of the smart contract technology of Blockchain.
Blockchain for tourism
Blockchain is changing the tourism industry with decentralized payment systems, customer identification, baggage management, customer reward systems, and transparent business ratings. Blockchain can reduce baggage loss suffered by the aviation sector with the help of its ledger technology. It will provide genuine business ratings to businesses by eliminating fake reviews done by competitors.
Blockchain for digital marketing
Blockchain will help digital marketing by increasing data privacy, and transparency. Nowadays, personal data is critical to secure, and companies have a responsibility towards their consumers. Blockchain technology will help companies to achieve an excellent data privacy solution. Previously advertisers knew very few details about the use of ads by publishers, which led to high expenses for publishing ads. With Blockchain, the process will become more transparent — also, they can learn who is seeing their ads and know if it is marketing to the right audience or not.
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By Lakshay Taneja
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This is a post in our on Medium blog, ‘Blockchain for Everyone’.
Sign up here to discuss any use cases. Thanks to Rohit Taneja for reflections and feedback.
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