No doubt blockchain technology has changed many things about the world, it has revolutionized the way we think about money, with cryptocurrency and smart contracts and other exciting applications everyone overwhelmed with the exciting things that surrounds it. Few years back if you ask anyone about the future of blockchain technology only few will say say a good things about this new technology, because their believe is that blockchain will be a threat to financial system but not knowing blockchain technology is going to have a positive impact on the world.
Blockchain technology have a profound impact on our lives, solve things that seem impossible in today's society. Those things that I think we'll give problem in our financial now become strength to our financial lives through blockchain technology.
Things Seem Impossible but Blockchain is the solution
Transparency, Security and Trust
Unlike our traditional storing device, blockchain technology has become a heavy secure method people now preferred to store their data. This is because the blockchain technology is transparency and the way it transparent it cannot be manipulated or tampered, for that people see it as a promising method of storing sensitive data like business records, financial records and other valuable documents because storing on blockchain technology doesn't allow people to edit or add onto the original data being stored. Honestly security is one of the major threat in financial aspect, and it has become challenges for people with sensitive data to cope with the way traditional storing device leaks sensitive data. However with blockchain technology everything seems okay and safe.
Easy Trading
Easy Trading across all over the world without leaving the corner of your room is one of the problem solved by blockchain technology. This technology also made trading easy for us over a decentralized network, the features that is advantage over traditional way. Now, with marketplace, peer-to-peer market people can place an order and their order will be filled within a second, it make use of smart contract agreement that automatically enforced on the blockchain. This means that if the terms of the agreement are followed, the funds are released not like traditional way that you might have to wait days, weeks or a month before you get what you order, but through blockchain we can do everything digitally. I don't think we have to badmouth blockchain because we have already see it impact in the world of finance and the way it going to change many things in the world.
Solve many problems with Corruption
Just of recent, IMF brought a suggestion of using blockchain technology to fight against money-laundering because it transparency. I see this as good idea of an end to corruption and tax cheaters. Also police in Firozabad district in India using blockchain technology to fight against corrupted officer.
The district police launch online complaint site on polygon last year for victim to register their complain, they make us of blockchain technology because they want to get to victims complaint directly without it been manipulated by corrupted officer. All of these are what seem impossible in our society to solve but with blockchain technology solutions are rendered.
** Jobs creation**
The future of jobs lies on blockchain technology and that's why organization and more people are adopting blockchain technology for job. Blockchain technology offers a new working environment that is greatly changed the world, now with blockchain everyone can earn conveniently without leaving corner of their rooms which means that blockchain is the future of many jobs.
In fact during that time of COVID-19 blockchain technology really take a lot of impact in the world by providing job for people under conditions. Even with advent of Web3 , blockchain provides earn on blogging on Decentralized blockchain and many dApp that can be solve real life problems.
In conclusion, blockchain will transform society and solve many people that were not even thinking about. Honestly it's just a matter of time blockchain will provides more real-world application that will change our traditional way of doing things.