The Internet has transformed our lives more than we could have ever imagined. There is no way I could have conceived watching movies from my phone, making banking transactions through an app, sending documents from a genius system called email, and connecting with people all over the world through this thing called social media. All of this is because of the Internet.
How can the Internet get any better?
Blockchain is the better! How will it change our lives as the Internet did? For starters, we didn’t realize what the Internet would actually provide for the world. Blockchain gives us a glimpse, but we must remember that just like the innovation from creators and change agents in the Internet age, there will come some awesome innovation in the way the blockchain provides solutions to things we never knew could be offered.
Here are a few examples:
Voting: Every election has its flaws that can shift the voting counts in the favor of a particular party. In the future, blockchain will allow all registered voters to be entered into a system that prevents duplicate votes, manipulation, and other violations in the voting process. This tech will also allow for votes to be vested via mobile devices instead of standing in line for hours or constantly worrying about voter suppression tactics.
Identify Theft: Blockchain can help solve identify theft through decentralized technology that doesn’t hold our records in one centralized place. Projects like Siacoin help with this issue.
Corrupt Crowd Funding: There are bad actors who raise capital from people through crowdfunding, but can collect the money without delivering on their goal. Blockchain will be able to deploy smart contracts that could freeze funds or terminate deals in real time if project milestones aren’t met.
Real Estate: Tokenized real estate will allow participants [who traditionally would have difficulty getting into real estate markets around the world] an opportunity to do so with this technology. If I wanted to buy tokens of a real estate property in Malaysia, I could through tokenization.
There are plenty more use cases for blockchain. If I could go back to 1997, I would have studied the business impact of the Internet and how to participate in its monetization. But that’s neither here nor there. Blockchain provides that second chance. My efforts have shifted to finding as many opportunities in the blockchain space. Below are industries that already use blockchain tech. Be on the lookout for a future blog post diving into which projects are making waves within each of the sectors below:
May the horse be with you!
Author: Eric White
Editor: Shamya White