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4 Ways Blockchain is Transforming Our World

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The blockchain is transforming every industry such as finance, healthcare, agriculture, and more. The possibilities seem almost boundless and blockchain is rapidly entering into so many other aspects of our lives as well.

Let’s see a quick overview of blockchain’s major impacts and why everyone should learn blockchain technology:

• Do you know what’s the first encyclopedia on the blockchain? Well, it is known as Everipedia! Blockchain is practically making new things possible and Everipedia is not less comprehensive than Wikipedia. Its neutral framework will make it sure to find the best articles on each and every topic. With the help of blockchain, Everipedia has created an incentive structure which ensures the users can get rewards with tokens to curate articles. There’s no centralized server which makes it uncensorable unlike Wikipedia. Currently, Everipedia is having 3 million users each month and they’re using Wikipedia’s database now. Blockchain has make it possible to create such a knowledge sharing platform for everyone.

• Blockchain is known for its ability to maintain records of financial transactions that contains sensitive information. Until now, it was difficult to store and exchange the important patient records. With the promise of blockchain, all the obstacles can be eliminated now.

Blockchain has a major effect in the finance industry. Now it is possible to create direct links by the financial institutions with the help of blockchain. It can also be used as a transparent and accessible system for regulatory reporting. Other than that, clearing and settlement can be done via blockchain with its digital ownership. The global banking is being affected by the popular cryptocurrency named Ripple which is a perfect solution for payments across the world. Ripple helps in connecting payments across various networks at a relatively low cost. Blockchain truly has the power to alternate the aspects of finance which is why it has become more important learn blockchain technology.

• The agriculture sector is also being improved by blockchain technology companies. Blockchain has provided transparent means to record the source of the produced crops and this journey as well. From the farmers, consumers, and the retailers, all are experiencing the immense benefit. Farmers now get paid fairly and consumers can know the origin of the food that they have every day. All of these are possible only because of the blockchain. Now prices of the food products cannot be misrepresented. The blockchain technology makes sure that each of the product’s journey is being recorded so that confirmation about the price or origin can be tracked instantly. The logistics of farming is being revolutionized with a range of farm technology services in place. Companies like Farmshare, Skuchain, and Filament are working on the implementation of blockchain in agriculture.

• Both blockchain and Artificial Intelligence has enormous potential to become one of the groundbreaking technologies. Nowadays, to learn blockchain technology has become important more than ever. Both of them bring boundless possibilities and benefits in our everyday lives.

The trustworthiness of blockchain is increasing gradually and it is also helping the AI to gather more accurate data, and models to perform certain tasks. Now, blockchain can be used to make sure AI can be used as a perfect medium to have secured access to data.

Latest Activity: May 11, 2018 at 1:35 AM

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