9/15/2020
Another Top 5 Industries That Stand To Benefit Most From Blockchain | by venkat vajradhar | Sep, 2020 | Medium
Another Top 5 Industries That Stand To Bene t Most From Blockchain venkat vajradhar Sep 15 ¡ 2 min read
Government: Governmental systems are often slow, opaque, and corrupt. Implementing blockchainbased systems will significantly reduce bureaucracy and increase the security, efficiency, and transparency of government operations. For example, Dubai aims to keep all of its government documents on the blockchain by 2020.
Healthcare: Another industry that relies on many legacy systems and is ripe for disruption is health care. One of the challenges that hospitals face is the lack of a secure platform to store and share data, and they often get hacked due to outdated infrastructure. Blockchain technology allows hospitals to securely store data such as medical records and share them with authorized professionals or patients. It improves data security and also helps in the accuracy and speed of diagnosis.
Regulatory Compliance: In any industry, expensive affairs, taking time to follow the government’s standards and regulations. Certificates need to be checked and re-checked, policies need to be updated, and growing agencies need access to records. Regulatory compliance has already made inroads in several industries, with more coming on board as time goes on and results are proven: Banking Investment Credit Services https://medium.com/@pvvajradhar/another-top-5-industries-that-stand-to-benefit-most-from-blockchain-a5c7a4d4aaf0
1/3
9/15/2020
Another Top 5 Industries That Stand To Benefit Most From Blockchain | by venkat vajradhar | Sep, 2020 | Medium
Fuel Production Automobile Manufacturing
Image source: Ignite
Charity: Common complaints at charity space include inefficiency and corruption, which prevents them from reaching out to those who have the money. You can be sure that your money will end up in the right hands, using blockchain technology to find donations. Bitcoin-based charities, such as the Bitcoin Foundation, use a secure and transparently distributed ledger of blockchain, enabling donors to receive the intended party funds.
Public Benefits: The public interest system is another sector suffering from sluggishness and bureaucracy. Blockchain technology helps to assess, verify, and distribute welfare or unemployment benefits in a more streamlined and secure way. Blockchain is also a good competitor to implement basic income. Circles is a project that works to develop blockchain-based technology to implement universal basic income. Conclusion: Blockchain technology is in its early stages and industry insiders are still mulling over the ways it can be integrated. But one thing is clear, the blockchain has the power to inspire more democracy and equality through its disruptive power. https://medium.com/@pvvajradhar/another-top-5-industries-that-stand-to-benefit-most-from-blockchain-a5c7a4d4aaf0
2/3
9/15/2020
Another Top 5 Industries That Stand To Benefit Most From Blockchain | by venkat vajradhar | Sep, 2020 | Medium
Related Articles: Blockchain Technology Build a Blockchain application
Mobile App Development
App Development
Blockchain
Blockchain Application
About Help Legal Get the Medium app
https://medium.com/@pvvajradhar/another-top-5-industries-that-stand-to-benefit-most-from-blockchain-a5c7a4d4aaf0
3/3