The Top Five Major Industries where Blockchain can be of Potential Use

From London to Manila in just a second. Amazing! Isn’t it? Thanks to the Blockchain Technology for making this possible.

More and more people around the world are now becoming aware of the Blockchain Technology and believed to totally change their business approach. The fact that these technologies has been the highlights of every online advertisements from the past couple of years, these fascinating technology leaves a very good impression that global adaptation has now been started. Thanks to the different social media platforms that helped spread awareness about the marvels of the Blockchain Technology & the underlying principles that made this technology indeed a disruptive innovation.

Now, let’s dig deeper to find the reasons why we need to get along with this journey to the next level. Let’s take a look at the top five sectors on different industries that blockchain can amazingly transform.

Financial Sector

Have you not noticed the way we transact payment these days? It’s cashless, isn’t it? A simple swipe of a credit card or a debit card or online fund transfer through payment gateways completes your transactions. Whether you pay your bills or purchase an item on an ecommerce website, you can make the deal done in just a few taps from your device. Paid & complete.

The financial sector has been the first industry that uses tokenization, a process of replacing a tangible asset, which is our money, into it’s digital counterpart, online funds. The same tokenization process can be applied in the blockchain today. The huge difference is that, banks uses the traditional credit, debit and payment gateways uses a central hub that secures the data of all financial transactions. And what is this central hub? Well, we do not know. The public does not need to know because this is the target of many hackers to exploit. Now, that’s where blockchain comes into play. It is a growing public ledger where all actions are recorded and can be verified by people involved in the transactions. It Also keeps an audit trail that cannot be altered so that when someone attempts to steal, such unscrupulous user needs to exit with the unique exit map that the real owner only knows. So, basically, escaping without leaving a trace is impossible. Plus, the whole public can watch you do your thing online!

Information Technology

The information technology principles applied to blockchain makes it the best infrastructure to build many business management systems because it allows individuality and traceability of any employees that has to conform into their daily tasks on the job. Careers in Information Technology is highly valuable these days. Especially when the person has some hacking ideas. Offering their skills in maintaining an infrastructure instead of deploying destruction, they can perform a better descent job in maintaining and improving the cybersecurity across all networks instead.

Medical

Blockchain Technology offers more safety and convenience. Aside from storing patient’s information, it also helps patient’s ownership of his own medical, health and diagnosis history. This way, referencing to previous prescribed drugs, records of allergies, drug reactions and all of a person’s health trails can easily be accessed and reviewed by healthcare personnel. This way, Doctors will not have to predict a person’s health history anymore. Blockchain can be very useful in solidifying proof of medical records of any person as well as eradicating unauthorized access to highly confidential health concerns of a patient.

Schools

Nothing can be more important for a school owner/administrator than to keep all the school records safe. Aside from grades as highly confidential, part of a school’s administrative responsibility is to keep the confidentiality of every student’s family backgrounds and residences. School records are one of the most valuable source of identity for a person because this is a record of an individual from toddler to adulthood. Blockchain can be used for these school records allowing only the parents, the student and the administrator their level of access.

Real Estates

2019 is predicted to be the year of the most traditional, highly regulated, Trillion Dollar industry to jump into using the robust technology of the blockchain. As it has been the most illiquid market in the world, real estate is coming into the picture through the idea of asset tokenization. Just like the financial sector where gold reserves is the basis of the monetary asset and value of money, Real Estate has its own tangible asset that can also use the process of tokenization. And through the blockchain technology, transactions can be made faster, easier and more convenient for everyone.

So, where do cryptocurrency play its role in any of these 5 sectors? Well, each and every transaction from any of these sectors entails payments and if people that are involved comes from different countries, then payment can be very challenging due to the currency exchange and high transaction fees. Cryptocurrency can lessen the burden of passing from one payment gateway to another and deductions can be very minimal. Additionally, although fund transfer on cryptocurrency may not be real-time yet, but it is still proven to be way much faster and gets completed within few seconds or just a couple of hours without exceeding a whole day.

Fortunately, there is C Estates Inc. A real estate company that uses technology to build a platform that everyone can use and does not simply rely on one-to-one transactions. It’s business model is built in a smart asset blockchain technology that creates a complimenting ecosystem making real estate easy for everyone!