The threat of hacking and complex free-trade logistics are just two current challenges that Blockchain can ease.
Over the past few months, the Blockchain ecosystem has grown tremendously. Not only have cryptocurrencies continued to rise in value, with Bitcoin nearing $19,000 on December 16; but a number of emerging startups have entered the blockchain battlefield.
Though many of these fledgling projects seem poised to have a foundational impact on our global economy, it can be difficult to filter out the needles from the growing haystack.
Taking the time to understand the nuances of this technology can help guide your investment thesis and pay dividends in the long term. At its most basic level, as defined by the podcast Future Thinkers, “Blockchain is a distributed ledger technology that provides a way to record and transfer data safely and transparently.” Theoretically, we can leverage this technology to optimize industries, eradicate the need for costly intermediaries and create secure marketplaces.
While the time scale for this disruption is yet to be determined, there are a number of promising areas for implementation. Here are four of the industries most likely to be disrupted by Blockchain systems: