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11 Industries Blockchain can Reform Today

You've probably heard the word Blockchain a lot, especially over the last couple of years. Some of the top jobs in the industry are in: Infrastructure,Trading & Tools, Financial Services & Products ,  Professional Services, Payments and Consulting Firms.

If you haven't already seen blockchain poking it's nose into your industry, hold tight. It won't be long.

 

Here are 11 industries that blockchain is set to revolutionise. You may be surprised by some of them:

 

1 - Banking the 3rd World

Blockchain can act as a bank without banks, in parts of the world where citizens don’t have access to conventional bank accounts. If you have a smartphone, you can access money. As the system is decentralised there are no fees as you would with traditional banks, Paypal, Western Union etc and there are also no extortionate exchange rates, which are often the second burn. This technology tackles two huge variables of global poverty. First, it makes sending money cheaper for migrants, immigrants, and refugees who need to send money back to their families, and second, it makes doing business with hard-to-reach countries more convenient.

This alone has the potential to lessen extreme poverty.

Check out the Stellar Foundation: https://www.stellar.org/

 

2 - Voting

No doubt you’ve heard stories of the Russian government interfering in the 2016 Presidential Election. Although this may be a notable example but is certainly not the first, there are countless examples especially across 3rd World nations of democracy not being delivered.

Votes across many nations are getting closer and closer which consistently suggests one thing: we need move votes or more issues.

Blockchain can help to provide a secure electronic vote counting system by verifying voter registration, ID and ensuring votes cannot be tampered with.

An interesting example of this from Kapersky Lab is Polys: https://polys.me/

 

3 - iGaming and Gambling

Keep an eye out for our JobsFactor Explains: iGaming, coming soon! There are some interesting crossovers between these two sectors as some projects are using the blockchain for placing and monitoring bets and tracking odds on sports, stocks, elections and plenty of other events and markets.

Quanta is a company using blockchain to remain transparent and fair: https://www.quanta.im/

 

4 - Networking and Internet of Things (IOT)

The Internet of Things (as we described here) would greatly benefit from having a decentralised system as well as a traceable method of exchanging value and monitoring inefficiencies. As convenient as it may be that your phone can talk to your TV or you can enable kitchen gadgets to replenish their own refills; your washing machine will be much more vulnerable than your smartphone if someone wanted to hack into this system. Therefore it's important to be using the best security available across the whole chain and deal in traceable crypto rather than dirty cash.

One great example (although not technically a blockchain but in fact a “tangle”) is IOTA: https://www.iota.org/

 

5 - Charity

Imagine making your donation and being able to see which animals it feeds, which village it helps to build a well or which person you’ve provided with warm clothing for their winter on the streets. Currently giving to charity, as important as it is, feels very impersonal (unless you get a lovely letter including a happy looking dog). Tracking your donation all the way from your life to the life or lives of the cause you care about is a wonderful idea which is possible today.

One of the first to do this was BitGive: https://www.bitgivefoundation.org/

 

6 - Ride Sharing and Transport

As peer to peer and sharing becomes more popular (eBay, Airbnb, Uber), they’re increasingly moving away from centralised control and therefore a decentralised system can help for example in ride or car sharing with everything from booking, to payment, to damage notation, important document storage, identity verification and even paying of fines or fuel.

An interesting early concept application of this is: https://chasyr.com/

 

7 - Cyber Security

Although the blockchain ledger is public, the data is verified and encrypted using cryptography. Making data much more secure while still being accessible to trusted sources. 

Cryptography itself is practically as old as writing, with examples going back as far as Roman and Egyptian civilisations. Notable for its use in battle communication, it's now a part of everyday life as we attempt to keep financial and personal information protected. As we covered in **PREVIOUS ARTICLE**, Blockchain is amongst the most secure systems we have and could be the new industry standard for the storage and protection of sensitive information online. 

Guardtime are one of the industry leaders in this field: https://guardtime.com/

 

8 - Data Storage

Imagine trying to steal £1,000,000 from a bank that holds it all in one place. Now imagine trying to steal that £200 from five hundred different customers. While the bank may be more secure, its also a bigger target. The same applies to data companies and there’s no shortage of big companies being hacked and losing client data: email providers, gaming platforms, banks, dating websites, credit card companies, governments, you name it. Using a blockchain to store data not only lowers the risk of hacking but also reduces the impact.

Projects such as Storj are a great cloud based blockchain company: https://storj.io/

 

9 - Supply Chain

Being able to track a particular product from start to finish is a huge part of many industries and is often expensive, resource consuming and unreliable. For example a full service history for a vehicle or even the source farm of a particular food. Not only can a blockchain ensure this information is preserved and secure due to lack of human error, it can also produce savings in cost, labour, time, wastage and emissions at every point of a supply chain.

The UK Food Standards Agency is already testing the use of this technology in tracking meat from farm to plate.

Vechain is a great example of how this looks: https://www.vechain.org/

 

10 - Government Efficiency

Processes such as public benefits, healthcare and education are notoriously underfunded and over complicated as well as corruptible in many countries. Having a shared database that cannot be misplaced, hacked or disputed containing claimants history, medical records or academic achievements would save an incalculable amount of time and money in areas where both are of the essence.

For example this technology is what keeps the Estonian Government's eEstonia programme secure and they've been experimenting with blockchain for over 10 years now: https://e-estonia.com/wp-content/uploads/faq-a4-v02-blockchain.pdf

 

11 - Real Estate

When buying, selling or even renting a property, there are plenty of headaches to be found. Be it hefty fees, lack of documentation, hidden issues or outright fraud, the blockchain and smart contracts can help to protect both the buyer and seller and could even replace most of the fees associated with the business. Saving tonnes of paper, ensuring accuracy and even handling payment from both sides, this could be a huge game changer.

Malta based Ledger Projects are trying to bring clarity to the property market: http://www.ledgerprojects.com/

 

...and finally...

 

Anything! Any field that deals with data or transactions of any kind can always benefit from being faster, safer and easier. Soon enough most industries will be implementing the blockchain in a variety of forms, so if you’d like to beat the trend, it’s a good idea to check out Blockchain Jobs!

Check out JobsFactor Blockchain vacancies around the world.

 

Sign up here and create a simple alert to be notified of every new blockchain job, as soon as it becomes available.

 

Watch this space closely, we 're already the top iGaming Jobs Board in the world and it's free to register! Now we're going after the blockchain jobs market! Keep an eye out for more JobsFactor Explains posts covering iGamingFinanceCryptocurrency and IT Technology.