Industries that are going to adopt Blockchain. (Part-1)

Hi

Let go through the industries that are working on Blockchain.

What is Blockchain?
A blockchain is an anonymous online ledger that uses the data structure to simplify the way we transact. Blockchain allows users to manipulate the ledger in a secure way without the help of a third party.

In simple words, a blockchain is a global online database that anyone with an internet connection can use. Unlike traditional databases — which are typically owned by big institutions — a blockchain doesn't belong to anyone; and with an entire network of people monitoring it, cheating the system by faking documents, transactions and other information is nearly impossible.

1. Banking and Payments
   Abra is a startup that is working on a bitcoin-based remittance service. Many banks like Barclays are also working on adopting blockchain technology to make their business operations faster, more efficient and secure. IBM predicts that 15% of banks will be using the blockchain by the end of 2017.

2. Cyber Security
   Although the blockchain ledger is public, the data is verified and encrypted using advanced cryptography.

3. Supply Chain Management
   Some blockchain startups working in this sector are Provenance, Fluent, SKUChain, and Blockverify.

4. Forecasting
   Online platforms like Augur are looking to create global decentralized prediction markets.

5. Networking and the Internet of Things
   Samsung and IBM are using blockchain technology for a new concept called ADEPT, which will create a decentralized network of IoT devices.

6. Insurance
   Aeternity is one blockchain project that is building tools that are useful in the insurance industry.

7. Private Transport and Ride Sharing
   The blockchain can be used to create decentralized versions of peer-to-peer ridesharing apps, allowing both car owners and users to arrange terms and conditions in a secure way without third-party providers. Startups working in this area include Arcade City and La’Zooz.

8. Cloud Storage
   Storj is one example of a cloud storage network using the technology.

9. Charity
   Bitcoin-based charities like the BitGive Foundation use blockchain’s secure and transparent distributed ledger to let donors see that the intended party has received the funds.

10. Voting
    Democracy Earth and Follow My Vote are two startups aiming to disrupt democracy itself through creating blockchain-based online voting systems for governments.

Thank You for Your Time.

Stay tuned for further updates.