This article discusses about 30 industries blockchain will disrupt by 2030. Blockchain is a decentralized platform that allow cryptocurrencies to operate and be transferred between different users and peers around the world. And, not just that, blockchain does not require any central authority or third-party service to operate. Further, blockchain provides enhanced security and privacy to all data and information. It secures data with high encryption and this in turn has been allowing blockchain markets to expand. With these features, there are many industries blockchain will disrupt and make it even better.
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Industries Blockchain Will Disrupt By 2030!!
You would have read a lot about what all industries blockchain will disrupt in the nearest future. Apart from banking, education, pharmaceuticals, there are many industries in the list to get transformed with blockchain development in practice.
With the help of blockchain, some interesting projects such as Augur and Stox are created that will help in forecasting trade in the trading industry.
Example: Augur is a blockchain program that operates on ethereum platform. It allows users to forecast a particular events outcome and getting rewarded if their forecasted event outcome is true.
Stox is a similar predication based blockchain-ethereum project that allows users to predict the outcome of an event. This allows users to make better decisions via the forecasted results.
In energy industry, multiple personnel are involved in transferring the required energy to the respective cities and states.
Blockchain in energy sector eliminates the interference of middlemen by connecting energy supplier and the end customer directly allowing energy to sold quickly. In addition, this enhances energy output by increasing the operating efficiency.
Example: Energy providers like Power Ledger.
Traditionally findings jobs had to be manual which took a lot of effort, time and cost. This involved border limitations too.
With the help of blockchain, job seekers and hiring parties can connect with each other at their door step from anywhere in the world.
Blockchain has come up with Blocklancer, a blockchain based job seeking platform. Intriguing it is not?
Fishing and Marine Supply
Fishing is one of the major sources of livelihood for all fishing community people and fishermen. Without fish, even the environment becomes unsustainable by damaging the natural ecosystem cycle. With the help of blockchain, legal enterprises can put a full stop to illegal fishing. Also, blockchain is used to track the fished products from the seller to distributor in real-time.
Example: Startis has joined hands with Earth twine to use blockchain for this purpose.
Traditionally, when a user wants to pool in their money in hedge funds, they incurred a lot of transaction cost due to multiple third-party interference. Transparency in tracking the fund movement was low too. All these issues are addressed and are overcome by blockchain.
Example: Projects like Alpha protocol use decentralized methods to make strategic smarter decisions.
Taxi and Ride Sharing
With the help of blockchain, different riders can connect quickly and efficiently with each other without any delay time to share their cab rides. Also, the rider is able to set their own fare rates. Thus, this saves a lot of time and cost.
Example: Cab service providers like Chasyr and Arcade City.
Human Resource (HR)
Not only people seek for jobs but also companies seek for recruitment. With the help of blockchain, HR departmental personnel are able to reach to people beyond their geo-location to recruit employees of their preference. The payment of salary is also made through tokens provided by blockchain, which is much faster than the traditional approach.
Example: Companies like ChronoBank use blockchain to recruit.
Traditionally, the time taken to authorize and issue a user with their own credit card takes a lot of time to verify the user bank accounts and details.
With the help of blockchain, all these processes can be sped up and accomplished faster as it does not require any third-party service.
Example: Projects like Blockmason uses decentralized platform to establish a smooth credit flow.
Digital media involves many middlemen in every operation. Lots of payments have to be made in scheduled dates to have a smooth operation.
With the help of blockchain, there is no restriction in the market reach digitally and payments can be made in real-time too.
Example: Issuing Basic attention tokens (BAT) is a company that helps to make payments instantly using blockchain.
Projects such as Golem using blockchain platform to connect different users and peers around the world and share their resources to accomplish tasks at hand.
With the help of Golem, people are able to lend the required computer systems or software for a price to those who are willing to rent without any third-party intervention.
Internet of Things (IoT)
With blockchain and artificial intelligence clubbed together, all smart devices are able to operate with enhanced interoperability. This allows users to make smart devices and have accessibility to necessary data in real-time anywhere, anytime.
Example: IBM uses a project called ADEPT, initiated by blockchain to automate smart devices.
Government and Public Sector
With blockchain in government operations, the chances of data being misused and delay in operations are eliminated.
With blockchain, appropriate people can connect with each other directly without any middlemen and also have better transparency in every operation.
Example: Democracy Earth provides enhanced peer to peer connection to enhance government protocols.
Supply Chain and Logistics
Blockchain is boon for supply chain and logistics.
With the help blockchain, suppliers can connect with local logistics providers when demand is high and reach customers without any border limitation. It reduces the time taken to find appropriate supplier or logistics partner.
Example: VeChain uses smart contracts to track orders and deliveries in real-time.
Music, Media and Entertainment
One of the major challenges faced in music industry is securing the music from digital piracy.
With the help of blockchain in music industry, music artists have the ability to access secured channels to launch their music, where their music will be stored with high encryption and there would be no digital piracy.
Example: Ujo Music uses blockchain to stop digital piracy.
Read More: Blockchain in Media and Entertainment: Overview & Projects Across Industry
In healthcare industry, one of the major challenges faced is having interoperability between different departments and hospitals across all countries. If the entire health record of the patient is available, then doctors can diagnose a disease correctly.
With the help of blockchain in healthcare industry, interoperability is enhanced.
Example: DokChain uses blockchain to process patient data efficiently.
Books and Publishing
One of the major challenges faced in books industry, is finding the right publisher. Traditionally, even if the right publisher has been found, keeping up with payments on time and securing the ownership of the book content is hard due to digital piracy.
With the help of blockchain in publishing sector, authors can have a secured ownership of the creative content of their books and also using digital markets without the requirement of publishers to reach readers.
Example: Authorship uses the token system of blockchain to identify the work of any author.
Digital Identity Management
With the help of blockchain, a full stop is put to digital identity theft and threats. Say goodbye to fake identities. This is possible with the authentication that blockchain provides.
Example: IBM has joined hands with Decentralized identity foundation (DIF) to use blockchain to stop identitiy theft.
Accounting and Finance
Blockchain is saviour for accountants. With the help of blockchain, all financial operations can be tracked in real-time. All financial operations will be accounted for and there will be equal balance between the outcome and the income. This is possible with distributed digital ledger of blockchain.
Example: China construction banks use blockchain to keep track of financial operations in real-time.
With the help of blockchain and its smart contracts in real estate, property sellers are able to find clients and buyers across countries and make payments instantly.
Buyers and renters are able to get access to a property digitally at their doorstep.
Example: Rentberry provides blockchain based solution to real estate renting boundary restrictions.
Blockchain is buzz for insurance.
With the help of blockchain, people are able to exchange their assets for a particular monetary value easily without any third-party interference and at a low transaction cost too.
Example: Lemon Way uses blockchain to provide insurance service called LenderBot.
Sports and Fitness
With the help of blockchain, sports industry is able to track health records of athletes to keep them in shape and high performance.
Also, to expand the sports revenue profit, enterprise blockchain development solutions help.
Example: The Jetcoin Institute encourages athletes and fans to use cyber-currency to invest in athletes and get profited from the profits the athlete they invested in.
With the help of blockchain, companies are able to reduce the number of middlemen required to issue gift cards and take care of sales and transactions.
Gift cards and loyalty benefits can be efficiently provided to the customer with the help of unique verification capability provided by blockchain.
One of the major problems faced in weapons business is illegal gun trades.
With the help of blockchain and a combination with RFID tags, all gun shipments can be tracked effectively in real-time.
Example: Blocksafe uses blockchain to track and account all weapons sold.
Retail and eCommerce
With the help of blockchain, retail businesses are able to reach customers hassle-free without any border limitation and are also able to provide customized products.
Example: OpenBazaar uses decentralized blockchain to connect sellers and buyers.
One of the major challenges faced by all charity lenders is the verification if their charity fund has reached the appropriate charity cause of charity institution. With the help of blockchain, all charitable donations can be tracked in real-time to make sure that the donate fund help the charitable cause.
Example: BitGive Foundation uses blockchain to send donations through secured channels.
With the help of blockchain, law enforcement agencies are able to maintain integrity by putting a full stop to fake records and false claims via the transparency provided by blockchain.
Example: Chronicled uses blockchain to seal records from getting tampered.
With the help of blockchain, 3D printing manufacturing companies can secure their intellectual properties without having to worry about security hacks and threats.
Example: Genesis of Things use blockchain to create advanced manufacturing process.
With the help of blockchain, the internet traffic can be equally distributed and the cost of video traffic is reduced via decentralized encoding of video too.
Example: VideoCoin Network allows users to store, encode and distribute video digitally at lower cost.
With the help of blockchain, there is no central authority and thus allows gamers to have a balanced, equal rights in competing with each other and earn rewards for their efforts.
Example: The Huntercoin project using blockchain to provide cryptocurrency as rewards.
Food and Beverages
With the help of blockchain, food industry is able to create ondemand decentralized applications (dApp) to instantly meet the food demand and orders placed by customers at their doorstep.
(Image Source: Nasdaq.com)
Example: Frietwinkel provides ondemand dApp food delivery service.
Conclusion: Possibilities with blockchain is high
Not to forget, agriculture, mortgage, beauty and wellness are also other prominent industries blockchain will disrupt. Blockchain even though it is new, it has already been used in various operations and industries in real-time as you see above. The opportunities that blockchain provide is beneficial in terms of saving cost and time. Blockchain already is and will transform even more industries by 2030.