As we look towards the future of decentralization, we must discuss not only technological marvels, but the power of such technology to change the world. Many products vow to “disrupt current systems” but very few specifically state what kind of impact they can make on humanity as a whole. As such, we will discuss specific use cases that impact the world while taking advantage of the NASGO blockchain.
Early data suggests that blockchain can provide incremental (65% of initiatives) or transformative solutions (25% of initiatives) for people solving our world’s toughest challenges. This means that blockchain can be used to solve problems once thought impossible.
Supply chain management
The first “impossible problem” we will discuss is supply chain management. Specifically blockchain can benefit the agriculture industry. Through the power of a distributed ledger, blockchain can improve traceability, transparency, and efficiency for users across the entire supply chain. This spans from farmers to consumers. Specifically, blockchain can help the agriculture industry defeat the siloing of actors across the entire supply chain.
Democracy and Governance
Blockchain provides governments and nonprofit organizations the ability implement projects in partnership with private sector actors who are pushing forward the advancement of the underlying cryptocurrency technology.
Blockchain technology can improve security and logistics for government data exchange. Blockchain networks protect citizens’ data as it is harder to erase or alter on a distributed ledger. In addition, blockchains can discourage hackers from attacking the database, as there is no central system to focus malicious activity towards. Lastly, maintenance costs can be greatly reduced as governments do not need to invest in data storage.
What do you think?
Blockchain brings the potential to instill trust between multiple parties, reduce costs, increase efficiency, transparency, and improve security. As data has shown, blockchain may solve problems previously deemed impossible.
