Disruption of Block-Chain in Present and Future
An immutable and distributed ledger with unique set of transactions in the forms of blocks depends on the nature and cohesiveness of each transaction which is either able to form the solution or disrupt the already existing solutions is the main event for the current existence and hype for the Block-Chain and it’s nature in the present and future.
There are certain core features of Block-Chain which includes transparency, democracy, Efficiency, decentralization and security, Such features can also be considered as default ones because It is the real nature of Block-Chain the provides such basic norms on the FLY!
- Banking: obviously!
If we talk about how and when Banking is going to be into Block-chain and how much that could bring out real change into the things then things are already there to have fun with!
Why we need Banks? – A basic institution that is able to save your money like a wallet and you are able to send it all over the world. Right now just believe that we are not talking about Investments as well.
Download ABRA and just Enjoy the Bank in an APP: https://www.abra.com/
Barclyas is the bank that uses the BlockChain:
15% of Banks will be using Block-Chain by the end of 2017:
2. Cyber Security:
Data is stored in the encrypted form and each time it is verified by multiple parties while storing it in DB so that means each time Data is able to secure by default. That eliminates the need of Third party security systems!
3. Supply-Chain Management! (OMG that was DOPE when I heard that how Efficient it could be in Supply-Chain management):
All the transactions are Documented in permanent record and are being watched securly when any assest is moved from one party to another in the supply chain management! That is able to measure time, Cost, labor and Emissions which is helpful to reduce and form the necesary plan to make complete Efficient Supply-Chian management! Which is also helpful to verifity the authenticity and fair trade status of the product.
Startups that are working on Supply-Chain Management are as follows:
Think of world like where each and every person is able to collaborate their brian-power and able to build and things collaboratly either it is a research work or making a staretgy that is able to predict next stock price in the NASDAQ!
A decentralized prediction market solution: http://www.augur.net/
5. Networking and IOT:
Thinks of different nodes and how these are able to communicate with each other that could bring repairing and updating and repairing itself without even need of external human maintainer! All the nodes would be able to connecet to each other with eliminating the need of centralized system.
One can see whole idea about ADEPT here: https://www.slideshare.net/_hd/ibm-adept
Insurance is based on trust management. BlocakChain can be used to verify many types of data in insurance contracts! Like the real identity of insured person as well as his/her medical records as well.
One example of such system is Aeternity: https://aeternity.com/
7. Private Transport and Ride Sharing:
There are various cases of Block-Chain which can be helpful for peer to peer ride sharing system. Presently most of the Ride sharing or Taxi booking systems are based on the some kind of Centralized system like Uber and OLA but using Peer to Peer Transactions and communication can be improved and cost of middle man or centralized system can be reduced over a large amount!
Great Examples are Arcade City and Lazooz:
8. Cloud Storage:
It was always a challenge only because we always need to secure data and have it in many different places and those places should be on virtual locations not in one but also in many!
Storaj is one example of that: https://storj.io/
There are many cases of corruption comes into place when there are money collection and resources utilization in the charity, There is no doubt that in the cases of Charity because of less transparency all the Money of Charity could be involved into wrong things as well. BlcokChain could be a very useful to get to know that where the donations are going!
Block-chain can also be used for Registration, Verification and Vote-counting. Creating and immutable, Publicly viewable ledger of records is the real way to make elections more democratic and viewable.
11. Government: Most of the government based systems are slow, in-efficient and biased. To slow down the bureaucracy,increase security, efficiency and to make government systems more transparent BlockChain is so far the best solution as well.
12. Public Benefits:
Public Benefits is the one of the system that has suffered each time from slowness and bureaucracy, As one of the major thing of being transparent block-chain here is the great player to implement that all benefits towards public can be shared in transparent way.
Govcoin is one of the example of BlockChain that is disrupting welfare system in the UK:
There is one more project which is called circle that is able to implement Universal Basic Income using BlockChain: https://www.circle.com/in/
Hospitals always lack of need to save secure data and that can be used foe various treatment in the patients. BlockChain can be used to save and secure Medical data of patients and that can be shared with Authorized doctors and patients.
Following are the two startups working on the BlockChain to work on secure data:
14. Energy Management: Energy Producers and users have to go through a long list of middle grids to get resources from each other.
Transactive Grid is blockchain solution that is able to create De-Centralized way share resources between various energy producers and consumers. Transactive Grid uses the Ethereum Blockchain.
15. Online Music:
There are several Block-Chain solutions those are working on the problem for selling music from producers to users. Smart contracts can also be used directly to solve the issue of licensing.
Shopping is always based on trust on the shop or the market place but in real there is no particular way to understand that how good or bad product could be inside the wrapper. BlockChain is able to cut all the middle-man between buyers and sellers so each time time. Smart contracts are there to maintain the credibility of the system.
17. Real State: There are few issues in real estate like Fraud, Lack of transparency and mistaken in public records. BlockChain can simply reduce the paper based record keeping structure. Block-Chain implementation can simply help with tracking, verifying ownership, ensuring accuracy of documents and transferring the deeds.
The one company that is solving this problem is https://www.ubitquity.io/web/index.html
In Blcok-Chain Crowd-funding is created through smart-contarcts and online reputation system. New products can raise funds by releasing their own tokens and those tokens can be used later to buy products and other services.
19 OUR industry: Telecommunication and Networking. SDN(Software Defined Networking!)
Securechain delivers security, scalability and auditability to Software Defined Networks.