[Image: Creative Commons]
Slowly but surely, blockchain technology has expanded its role in the world. It’s not just about cryptocurrency anymore; the decentralized nature of the blockchain is helping to provide other benefits to a variety of industries.
Over time, more use cases for blockchain technology will likely be developed for even more industries. Yet, most people aren’t aware of just how blockchain technology is impacting their lives in a variety of ways. To help remedy that, let’s look at some of the surprising industries that use blockchain technology.
Healthcare
There are obviously advances in medical technology that are positively impacting healthcare. But blockchain is also a prominent trend in the industry, helping with challenges such as data security, patient privacy, and system interoperability. The biggest advantage of blockchain technology in a healthcare setting is storing patient information securley, giving individuals control over who can access and share their medical data. This isn’t necessarily something that patients can see, but it’s an important part of what medical professionals do.
Government
Governments aren’t always on the cutting edge of technology, but the public sector is slowly coming around on blockchain technology. The transparent and tamper-proof nature of blockchain holds great potential to improve government operations. Its applications in the public sector offer innovative solutions for secure identity verification, transparent voting systems, and streamlined public records management. For instance, blockchain can help combat election fraud by enabling secure and verifiable digital voting. The blockchain has already been used in some places to improve public record-keeping, minimizing bureaucratic inefficiencies and building greater public trust in government processes.
Online Casinos
The entire online casino industry has been helped by blockchain technology. These platforms require an endless number of financial transactions every day, and those transactions need to be both fast and secure. This is the wheelhouse of blockchain technology, which is why the two have been a natural fit. Thanks to the blockchain, online casinos have been able to build trust with users by providing fast and secure transactions. As a result, the industry has grown by leaps and bounds in a short period of time. Visit casino.com/ca to read reviews of the top online casinos and what they offer customers aside from blockchain-aided transactions.
Media
Media companies have also been quick to jump on the blockchain bandwagon, as this technology has proven useful with challenges like content piracy, intellectual property protection, and fair royalty distribution. For instance, music-streaming platforms are using distributed ledger technology to ensure artists are paid fairly and directly. This has helped eliminate the need for traditional middlemen. In another use case, photographers are better able to track and protect their digital image rights, reinforcing ownership and safeguarding creative work. This can get easily overlooked by the general population but is critical for those who work in media, especially less prominent artists and content creators.
Education
Among the various industries embracing blockchain, the education sector is another somewhat surprising one. Yet, the blockchain is perfect for securely storing academic credentials and streamlining verification processes. Today, some universities are issuing certificates on the blockchain, enabling instant and reliable verification by employers and academic institutions. Other prominent colleges have found that they can use blockchain technology to provide graduates with tamper-proof digital diplomas. These aren’t major issues to the average person, but they make a big difference in the education industry.
Real Estate
Last but not least, blockchain is transforming the real estate industry by introducing automation, enhanced security, and greater accessibility through tokenization. By tokenizing real estate assets, properties can be divided into fractional shares, making investments more liquid and accessible to a broader range of investors. Meanwhile, smart contracts further simplify the buying and selling process by automating transactions, reducing paperwork, and enabling fast, secure transfers of ownership. Things can move slowly in the real estate world. However, both commercial and residential transactions are becoming faster, which is a win for everyone.
