There’s another one on the horizon, although is just one such transformational technology.
By now, you have heard about cryptocurrency – the rise in the purchase price of Bitcoin generated a lot millions of watchers and millions of new investors. On the other hand, even many Bitcoin lovers are not truly knowledgeable about this blockchain, the technology that makes the cryptocurrency possible.
No matter what happens to Ethereum, Bitcoin and the like, blockchain technology is already changing the world. Here are only a couple of the ways blockchain technology will be changing the world for the better.
A More Stable and Better Internet
The internet has grown far beyond its creators’ range. What began as a way for military and government officials to communicate across differences has transformed the world in countless ways, but the revolution has not been free of problems.
In the future, blockchain technology can transform the internet for a second time, taking it into a new level and providing stability and speed for users around the world. By using decentralization and harnessing the energy of this blockchain, future net engineers could effectively distribute the numerous functions of the World Wide Web. That should provide not only increased speed and efficiency but a resiliency that is greater and more robust resistance to hackers and other bad actors.
More Efficient Markets
Technology forces the market -everybody with a Bitcoin account or an Ethereum wallet already knows that. However, what people do not know is that the power to revolutionize the market is also held by this emerging technology.
From mutual funds to individual stocks and bonds and funds, traders make them more effective and are looking at using blockchain. In the future, the trading model, one that employs a clearinghouse, could give way to the blockchain model that is decentralized, resulting in quicker, safer and more efficient trading for professionals and traders .
Legal contracts are notoriously complicated and difficult to comprehend. It may take an army of attorneys hours review and to read the simplest of business arrangements, and all of that work costs money.
In the long run, contracts could be far easier to enforce and much easier. The blockchain’s transparent and open world gives it the capacity to create and enforce contracts that are smart. These wise contracts are being used in certain quarters, and their use is expected to rise as their worth is proven by these arrangements.
More Secure Cloud Storage
Storage accounts are these days, but they still have their limitations. There have already been some high-profile hacks of cloud storage accounts, with everything from celebrity photographs that were embarrassing to intimate details published.
Blockchain technology could make those storage sites far more secure and protect them from the most sophisticated hacking attempts, although that lack of security has left many users wary of storing their sensitive documents in the cloud. Rather than relying cloud storage’s model is decentralized providing enhanced security.
Messaging apps are all the rage these days, but having those messages fall into the wrong hands could be catastrophic. From actors to CEOs men and women are brought down from the public airing of their opinions, but blockchain technology promises to make communication more secure.
A couple of messaging programs enabling people to share messages securely and are benefiting from blockchain technology. Without a depository to be hacked or compromised, these decentralized messaging applications must be far more secure, making their communications far more private and giving extra assurance to users.
The market was hot and Bitcoin millionaires’ tales are everywhere. Given the degree of press cryptocurrency has been getting, it is easy to think that these digital coins are the story, but that’s far from true. Blockchain technology is the story that is true, and the blockchain is here to stay – no matter what happens to Ethereum, Litecoin, Bitcoin and other digital forms of payment.
Co-Founder of The Crypto Collectors and DAPS Project – Host of #BlockchainChat – PR Specialist and Advisor, Adel de Meyer works with a focus in collectibles , decentralized marketplaces, solitude and gaming.