Bitcoin altered businesses and financial systems across the world back in 2009. While blockchain started bringing innovative, safe, and powerful solutions to the table, cryptocurrency disrupted both digital technology and the financial system. This decentralized ledger concept has appealed to many high authority profiles. Allowing safer transactions without revealing an individual’s identity is something mind blowing.
Little did anyone imagine this could be possible but it was made possible and not just normally, it disrupted the entire industry. From seeing through a skeptical lens to now one of the important technological forces in the monetary and technological sectors, cryptocurrency and blockchain have come a long way. It has already disrupted numerous industries and yet to change many others. are you interested to know what they are? This article deals with the same.
Besides cryptocurrency, you don’t get to hear about blockchain often because its too technical and concerned with core industries. So, ordinary people doesn’t pay much heed. However, this is just the beginning, where you could ignore the challenges and achievements and changes this thing is making. So, if you want to be ahead of the world and know information, scroll through this article.
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What are the industries that cryptocurrency and blockchain disrupted?
Banking and finance
The entering of both cryptocurrency and blockchain technology happened in banking and finance sector. They are currently largely operating in this sector. From mere banking to changing the behaviours of the entire population across the world into investing into cryptocurrency and digital currency, these technologies have come a long way.
However, this is just the beginnings. The shooting number of customers or digital users or people investing in banking and finance shows how it is bound to change the entire face of this industry soon.
Cryptocurrency and blockchain are currently operating informally out of traditional banking and finance sector bounds in most countries. Some countries have already started adapting and combining them with their financial sector. This trend will grow and soon many more countries will acknowledge, recognize, and join them with traditional and already acknowledged sectors.
Education
Amid the pandemic, the education sector is one core sector that has to undergo an overhaul. Relearning and unlearning has been voguish because of the pandemic infused lockdown, children were restricted to their houses and their education or studying habits soon took a strong toll.
But internet learning, online classes, and online streaming came to the rescue of millions of students. Although crypto currency and block chain doesn’t seem like they are already disrupting the education sector, if you see closely, they are slowly creeping under the carpet to change the face of the education sector. Five years down the line, the entire style, face, and fashion of the education sector may undergo a drastic overhaul.
Healthcare
Blockchain has been applied in a plenty of number of ways in the healthcare sector. Healthcare sector too had to bear the brunt of the pandemic. Digital technology, crypto currency, and block chain came to the rescue of healthcare industry.
The technology of decentralized technology will help doctors and hospitals in maintaining a digital ledger of patients and their records. This is just one application though. There have been attempts to remove paper records, which will be realized by the entry of the block chain.
Digitizing patient records has a lot of benefits. From accessing the records by any patients to helping doctors monitor their patients multiple times, block chain is here to change the health care sector.
Politics
You must have been wondering how possibly can cryptocurrency and block chain technologies alter politics, which are not easy or prune to change. Well, the pandemic has suffocated political processes too. due to isolations, quarantines, and lockdowns, people had to stay inside their houses. Then who is going to vote for their administrations when all people are hiding their necks inside their homes? That’s when blockchain technology entered into the game.
In USA elections, blockchain has been successfully used to make people vote online. While this is just the beginning of using blockchain technology in politics, it may soon be used on a larger scale as administrations anticipated.
Cybersecurity
Cyber security is one of the collective digital threats the humanity, world, and the digital community has been battling with. Despite millions of attacks and thousands of threats, no one had successfully subverted this threat. There are many reasons. But what if block chain and crypto currency technologies offer a solution once and for all? Wouldn’t that be wonderful?
From locking or restricting unauthenticated accesses in all costs to safeguarding confidential information, block chain is here to offer solutions to all the cyber security threats and issues.
Supply chain
Supply chain is a complex combination that requires multiple other industries to work in tandem. The pandemic again has a strong impact on the supply chain industry too. block chain can solve the many needs of the supply chain industry. There are a lot of issues and needs to be addressed in the supply chain industry.
Keeping track of your inventory and keeping track of your commodities or transportation sources is just one part of it. It can offer many other solutions like making the information available only to you and maintaining a ledger of your all shipment activities etc. this is the solution that you have searching for all your data management issues.
Conclusion
Both blockchain and cryptocurrency are one of the most innovative and disruptive technologies of all. Both of them are already entering into many industries in different ways. Be it education sector, financial sector, healthcare sector, or law and order sector, both of these latest technologies are ubiquitous, which is quite visible.
Although it seems like expansive, this is just the beginning. The number of sectors cryptocurrency and blockchain disrupts is only going to increase from now on due to many factors. The above mentioned are just a few sectors that these both technologies will change. They are bound to change many other sectors, which is clear looking at the creeping nature of these innovative technologies.
