Five Industries That See Great Potential In Incorporating Blockchain Technology

Oct 21, 2019

blockchainBlockchain could recast many more business areas than just the finance industry, and some companies already see the potential. There has been a lot of hype in the media about Bitcoin. And that includes how the cryptocurrency world transfers items of value, such as Bitcoin.

Some companies have not embraced the blockchain technology, and that is probably out of fear. However, my interest in blockchain technology piqued when I was thinking about how gambling websites such asĀ baccarat.net and others transferred currency that is not the traditional “cash.” That is when I started looking into blockchain, and the companies that see the potential instead of rejecting it.

Cryptocurrency Exchanges

Cryptocurrency exchanges are the industry that made me interested in this subject at all. However, one way that blockchain is benefiting the trade of crypto is to remove the need of human intermediaries. The Bitcoin system and protocol all developed on the blockchain, and this is likely the first place that you ever heard of it.

There is not likely to be any decrease in the use of blockchain in the cryptocurrency exchanges, ever.

Digital Identity Management

People’s identity is more at threat now that it ever has been. It is not hard to become a victim of identity theft when the internet is so open to manipulation. The use of blockchain has started to change that fact. The amount that the information is spread out and stored in a blockchain system has begun to revolutionize internet identification.

There are now companies that are maximizing the use of blockchain identification, and you are likely to see them appear more soon.

Digital Advertising

Brave is a web browser that you have probably already seen using blockchain-based digital advertising. Basic Attention Token, or BAT, is possibly the first of many digital advertising methods that you will see incorporating the technology with excellent results.

There are better, more targeted ads without the possibility of malware or interception. That fact lends itself very well to the digital marketing sector for consumers and operators alike. Digital advertising through blockchain will be a very prevalent method soon.

Cloud Storage

The management of cloud storage is often through a centralized server. However, that leads to increased vulnerability to attack. The introduction to blockchain cloud storage allows the decentralization of the information, meaning that the likelihood of attacks is reduced significantly, if not removed altogether.

There are so many data losses in the centralized cloud storage that blockchain technology may be a welcomed introduction to cloud storage.

Stocks

As with the cryptocurrency exchanges, there is a lot of potential for blockchain in stocks and shares. Companies have been trying to make the process of buying, selling, and trading stocks easier ever since they started. Now there are companies dedicated to building the exchanges of shares based on blockchain technology. Automated information transfers through technology are likely to become the go-to method in the future.