Blockchain & Cryptocurrency || Revolution Technology in Various Sectors
It has been more than 2 years that I have known about Blockchain technology and cryptocurrency since I first joined Steemit in April 2018, continued to Hive in 2020. A very valuable thing for me personally is how Blockchain and cryptocurrency provide space for everyone to freedom. Security, data transparency, speed, lower cost and reliability are the fundamentals of this technology. Blockchain is set to transform many traditional systems, with currency being one of the first. Cryptocurrency also indirectly provides financial freedom and empowers everyone. Everyone know the real Blockchain like Hive, how Hive Empowering everyone here, a freedom, sharing anything about your passion and get your income. Whoever you, does not care about professional background, on hive anyone can achieve financial freedom as well as freedom of expression.
When it comes to Blockchain, bitcoin is the correlation. The emergence of bitcoin triggered a technological revolution that stimulated the emergence of a similar "cryptocurrency" in various sectors such as education, health, finance, entertainment, trade, agriculture, sports, etc. Starting from a coin with a value of less than one cent, collectively the value of digital currency transactions has now reached trillions of dollars in less than 7 years.
“Blockchain” as a decentralized technology that prevents digital currencies from being controlled by a single entity, much to fuel the idea of a “digital gold” economy that provides easy access to financial systems and services for anyone at their fingertips. Blockchain is not only changing the financial industry but it will spread in a wider scope. Blockchain technology has created many digital applications that are useful for every user by being built on top of their respective tokens called DApps, using a peer-to-peer network through a trusted protocol. This application is designed in such a way as to avoid errors and to reward users in the form of tokens for providing computing services to the system.
Blockchain supports a global economy where everyone can join and have equal opportunities without space and time barriers, and creates economic value for many people. Had a promising impact in revolutionizing many industries and businesses in the world, making it easier for transactions between all levels of society without third parties. In essence, Blockchain technology is an actual use case application and provides the right solution for today's fast and efficient demands.
Blockchain and Education
The use of blockchain technology in education as an effort to fight the counterfeiting of certificates related to an individual's academic qualifications, a strong commitment to change and ensure transparency in the certification process. India Times reports that the Kerala Blockchain Academy (KBA), a government-supported institution, is implementing the concept of blockchain technology to promote and secure the issuance of certificates and certificates in the education sector, because blockchain makes it impossible for job seekers to fake data with its decentralized characteristics. Each certificate will have a QR code, where employers and students can scan their documents quickly using their cellphones to ensure their authenticity.
Blockchain and Medical Field
Blockchain and the exchange of authorized data information will lead to a more responsive, efficient and safer medical data management, and integrated and responsive tracking of medicines and medical devices. Blockchain in the medical world is also useful for efficient patient handling. Doctors can directly access the patient's medical condition in real-time to make the most precise diagnosis. This enables timely, efficient and cost-effective treatment to save lives. These things can significantly improve services and care for patients, break the chain of the medical device mafia, facilitate progress for medical inventions, ensure the authenticity of drugs circulating in the world market, and many other benefits in the world of health.
Blockchain and Law
Blockchain eases the manual process of document creation and management activities and ensures the legal industry's accessibility, transparency, cost savings, speed, efficiency and data integrity. Legal services are increasing every day, along with the development in the legal sector, manual work and consuming a lot of energy consumes most of the work process. With Blockchain technology, total productivity and effectiveness will be faster. The level of public trust will also increase because transparency is widely accessible, thereby minimizing cases of abuse of the law by law enforcers that are currently happening.
Blockchain and Entertainment
Blockchain technology has great potential to reduce intellectual property piracy crimes, protect any published digital content, and facilitate the distribution of original and authentic digital collections. There will be no more digital piracy, counterfeit copies, infringement of studio intellectual property, and duplication of digital goods that cost the entertainment industry a loss. Thus protecting royalties which should be up to the parties who have the rights to every work they produce.
Blockchain and Charities
We hear a lot of news about the misuse of social funds due to comprehensive corruption by related parties. Transfer of social funds globally is also an additional problem with expensive shipping costs. Timeless information, transparency, and information security from tampering & theft, speed, and affordable costs. Blockchain allows various parties to reshape the sense of justice of a modern economy that exploits continuously. It also ensures that social funds can reach the parties appropriately, without having to cut costs by third parties. The recorded data is also protected from manipulation. Donations with transparent allocations will certainly increase donors' trust in these social projects.
There are still many uses of Blockchain technology in various sectors such as trading in luxury goods to guarantee authenticity, the sports industry sector, the agricultural sector, government, the property industry, supply chain, logistics industry, etc. Various sectors that use Blockchain technology will benefit from the efficiency of the distribution of ledgers with simpler, faster information and significantly reduced costs because the data displayed uses digital technology, and can minimize data errors. I believe the future is near and it is time for anyone to take the first step into the world of Blockchain and cryptocurrency. Take your freedom! []
This article is a part of the "Questions of the week # 27" announcement by @ecotrain. Anyone can participate by following this link. Thank you @ecotrain for hearing lots of opinions on the amazings of blockchain technology and cryptocurrency that are changing people's lives.
