Is Blockchain The Future?
Blockchain has helped disrupt many traditional forms of industries and it continues to do so, so we might as well say that our bright future sure has Blockchain in it.
The financial industry has already adopted blockchain and we have witnessed major changes and futuristic progress in the finance industry. But the finance industry is only the beginning. The true potential of blockchain includes changing your everyday activities like traveling, going to the doctor, and even changing the voting system if possible.
Even every aspect of the global economy can be influenced by Blockchain. Most of our day-to-day activities today have become increasingly online. Be it banking, shopping, and interacting (social media). There are online services available for almost everything. The execution of many important functions of the government and other economies are also taking place on the internet.
What Blockchain does is create a major impact on our payment methods, transactions and the way record keepings are handled in the future. It helps in better security of data and has a decentralized approach. This is what has made many big companies go for the Blockchain approach.
Blockchain is also very helpful in preventing corruption in the government. The implementation of systems of monitoring government spending, property registry and digital documents of citizens on the blockchain will help ensure the government is maintaining transparency thus eradicating corruption.