Topic: What industries actually NEED blockchain technology? (Read 734 times)
Financial sector needs blockchain because it would help to reduce the transactions prices and to avoid the involvement of the third party by daily transactions. Furthermore, E-commerce also needs blockchain to reduce the prices and to increase the liquidity.
I think there is a lot of area where the blockchain technology can be useful. For example trade and payment systems, medical care, food industries, and government agencies. The biggest advantage of the blockcahin that it can be implemented into several areas.
I somehow read somewhere that many businesses are adopting the blockchain technology thinking that they might be left with the technology but not everyone wanted blockchain. Some of them are just old school that would like to stick to the old ways of businesses.
Well, the old ways very soon will be left behind. in the future, the old methods will stop working. good businessman always adapt to everything new The whole point of this direction is that it is globally,from oil and gas to space flights, artificial intelligence and many other things,the blockchain will be useful everywhere, this new era, the era of the global digital industry,and we are entering it now
if being use and implemented properly this system can be use in every venue and it can materialized helping the system to be more easy to use, blockchain can be integrated to working system and be adopted to be more useful in all aspects of transactions, new ideas and innovations if being adoptcorrectly will always be good globally.
i think Banking Industry ,Real estate Industry and Healthcare Industry.
For me I find it best and fit for the industry of payment system. Since we pay old school for making payments and lining up for the cashier and etc, blockchain helps a lot by easing the hassle for lining up and just use automated payment with just a small time. It give serious good demands for using blockchain as payment method.
I somehow read somewhere that many businesses are adopting the blockchain technology thinking that they might be left with the technology but not everyone wanted blockchain. Some of them are just old school that would like to stick to the old ways of businesses.
The whole point of this direction is that it is globally,from oil and gas to space flights, artificial intelligence and many other things,the blockchain will be useful everywhere, this new era, the era of the global digital industry,and we are entering it now
Blockchain technology can be used in any industry where it is necessary to store and use large databases of various information on the Internet. Blochkchayn technology has a high degree of security. This property is one of the most important. Technology blochkchain will develop in trade, finance, payments and remittances. Implement blockchain technology countries with large economies, this is also the most important.
Personally, I agree with Buterin, he considers that blockchain is often used where it isn't needed. He has some doubts about IBM blockchain and blockchain-based food trackers.
Fair- that's why I'm hesitant to agree with the idea of every industry needing blockchain technology utilization/implementation. That just doesn't make sense, as it's currently a really expensive method overall, with respect to the network and mining and whatnot. It seems as though companies took the buzzword potential and ran with it, using it as free marketing. It sure did work in the past year!
its quite alot. almost all of it. blockchain can be intergrated in banking, financing, retails, manufacturing, jurisdiction, government, etc.. the application is limitless.
I think that the industries that are associated with cryptocurrency are more suitable for blockchain technology than traditional business .
I think this will be needed for all daily human financial transactions, such as buying food, ordering taxis, paying electricity bills and more. if all of these payments have been decentralized by blockchain technology, we only need 1 blockchain wallet on my smartphone
It's hard to say, but trying to be everywhere, I think the only way to understand exactly where the blockchain will be more to come!
There may be many technologies that can utilize Blockchain technology in their companies, for example franchise systems, supermarkets and online markets. Or freight forwarding services between countries, because with blockchain technology, the payment process will feel faster and maybe someday the money will also change to digital form
Personally, I agree with Buterin, he considers that blockchain is often used where it isn't needed. He has some doubts about IBM blockchain and blockchain-based food trackers.
In almost all areas where you can use the blockchain, it serves as a universal data warehouse, which is almost impossible to hack and change. In addition, access to this data can be obtained by any user who has the appropriate rights. Almost any industry can use blockchain technology, medicine, Finance, real estate, energy, investment.
Banking jumped on the chance to have blockchain technology so I assume banking is the first one. I mean bank of america already has record breaking blockchain patents already and Ripple has been working with banks to move their assets into digital with blockchain help for years now, they exists thanks to those contracts. So I think banking is a clear choice with how many banks have been interested in doing blockchain moves. However insurance and real estate comes very close seconds. Insurance needs blockchain because whenever you get an insurance your record can be kept track at blockchain and you will have an account (basically wallet for crypto type thing) and there will be your insurance and mishaps all deciding on how much your insurance should be.
Real Estate as well to keep track of who owns where and which floor or which land etc etc. That way all over the world there could be just one blockchain that keeps track of who owns where in which country and just like wallet in crypto your "account" will show how much land or which lands you own.
A simple example is in our daily lives, from morning activities to buying breakfast, followed by riding in transportation to work or school, buying lunch and returning to transportation to go home. Imagine if all of these transactions were integrated by the blockchain network and we only scanned the wallet barcode to complete all the transactions. I think mass adoption must be prioritized to support blockchain can be used in the daily lives of people everywhere.
That's a typical good example of blockchain implementation and this means that blockchain implementation is just about everything that relate to us which we make use of everyday.
Well for me I think blockchain is need for every industry as long as they can find a suitable use case to deploy blockchain technology, I don't think blockchain is industry specific
in all industries, I think it is necessary to use blockchain technology in the future
Not all industries is good with the decentralized system, sometimes the centralized ones will make it more efficient and safer and that's really depend on which category it's needed and we need to find the most suitable ones.I'm talking about those field that really need the centralized system mainly to regulate so that no one could take an advantage of it.
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