The most popular application of the blockchain technology has been in creating cryptocurrencies. However, blockchain can prove to be highly disruptive to several industries. Businesses are now interested in adopting the blockchain technology which promises a high level of efficiency, security and productivity.
Healthcare
Healthcare systems and records need to be modernized instead of relying on old-fashioned, paper-based records, as they do in underdeveloped countries like India. Blockchain can make healthcare information transparent and easily available for patients and personnel while securing it from hackers.
Entertainment
Now, one of the biggest issues in the music industry is piracy. It is an increasing concern for artists and production companies who lose control of ownership and revenue. Today, the entertainment industry is looking to create better digital rights management systems for music and videos.
Real estate
The real estate industry, alongside education industry, is another industry that depend heavily on paperwork to operate. Blockchain can get rid of all the troubles of such paper-based processes and transactions arising when two or more parties exchange fixed real estate assets.
The regulation of this technology will help revolutionize the way financial transactions are handled and bring transparency into them to prevent fraud.
