Future Blockchain Technology Guide, Cryptocurrencies Advice
What Future Has in Store for Blockchain Technology?
13 June 2020
We all know how blockchain technology is used for the cryptocurrencies. We never spared a thought that it can be used in other fields as well. It has been over a decade and only now we were able to grasp the full potential of the blockchain technology.
After the introduction of the cryptocurrencies, all the attention was directed to Cryptocurrencies. In the midst of this, we forgot that Cryptocurrency is just a product of the blockchain technology. With proper methods and adaptation, blockchain technology can be implemented on any given field.
Several researchers and analysts have already predicted that it is the matter of 5 or 10 years, when blockchain technology will be one of the most important technologies that will support the world’s infrastructure.
Blockchain Technology Guide
The nature of the blockchain network makes it an ideal network for safe and secure transaction. Let’s have a look what changes blockchain might bring to the world.
- Easy international money transfer
Blockchain technology’s sole purpose was to find a way to transfer money from one person to another without the indulgence of any third party. It has been over a decade and the blockchain technology has not derailed from its motives. This is also one of the reasons why people believe in the blockchain technology.
Currently, there are two things that need to be taken care of before you do an international money transaction. First, you need a bank as a third party that will initiate your transaction. Second, it charges you a transactional fee. These two conditions are certainly not required in the blockchain transaction.
If you have a business and want to do international financial transaction, you can just visit to the bitqt-app.com to register.
- Digital rights management
Blockchain technology will be hard on the digital rights policy. All the hard work of the Digital Medias is washed away by the pirated online content. There are platforms that have started taking the legal route to show digital content to their audiences. But there are still millions of websites that serve their audiences pirated content. With the help of the blockchain technologies, people will able to put a lock on the pirated content.
Blockchain has already come up with smart contracts that encrypt the term and condition of the deals and implements themselves when the right time approaches. With the blockchain technology, the entire system can be automated making the wok much more efficient and no gaps for the duplicity.
- Secure online voting
Electrical voting booth can be the next product that you can see coming out of the blockchain technology. Some of the state government have already experimented the blockchain based voting system. This system taken the world by shock as, it is really safe with the voting procedure and has the potential to be called a mobile voting booth.
Online voting has already been tried in the past but it was label as “rigged voting” but according to some of the government official, this time with the help of the blockchain network, they can bring the best out of online electronic voting system.
- Medical data sharing
Blochchain technology has deepened its roots in the medical technology as well. This technology can be used to record all your medical data. This will surely help you many ways. For instance, you are being referred to a different hospital. With blockchain powered medical documents, the other doctor will be able to asses you medical data and provide you with necessary medical treatment as soon as possible.
Blockchain has kept itself on an improving graph and has reached to the point where it is now. It is now recognized by the world government to the point that the government is finding ways to adopt blockchain technology into their system. With time, we will surely see some of the major changes in the working of the world.
Comments on this What Future Has in Store for Blockchain Technology? article are welcome.
Norra Tornen, Hagastaden, north of Stockholm
Design: OMA / Reinier de Graaf
photograph : Laurian Ghinitoiu, Courtesy of OMA
Comments / photos for the What Future Has in Store for Blockchain Technology? page welcome