7 Ways Blockchain Technology Is Going To Change The World

Throughout time, there have been certain inventions and technologies that have created amazing changes to our world. Some would say these technologies were bad and others good. Personally, I believe any technology that can make things easier and faster is good. The bad comes in when people use technology to manipulate and steal.

Our generation and coming generations are about to be a part of a history making world changing technological advance.

Blockchain technology!

So many people have assumptions that when we mention blockchain technology, we are speaking of Bitcoin, Ethereum, Ripple and other cryptocurrencies, but there is so much more to this.

Today, I am going to tell you 7 ways blockchain technology is going to change the world.

#1 Way Blockchain Technology Is Going To Change The World: A Way To Save And Transmit Data Without System Overloads

Major corporations have a problem… They are trying to save data and it creates an overload on their systems. Not to mention, the problem of hackers stealing that data.

Blockchain technology will allow these major corporations to save tons of data in a decentralized way. The possibilities of hackers is still possible, but if the system is properly set up, those possibilities become quite minimal.

This negates the storage capabilities of each company in that they can enter it all in blockchain systemology. When it needs to be retrieved, the individual will need to simply request the retrieval and multiple signatures can be required to do so.

#2 Way Blockchain Technology Is Going To Change The World: Payment Processing

With blockchain technology, companies and individuals can accept instantaneous and secure payments without the need of any financial institution.

#3 Way Blockchain Technology Is Going To Change The World: Funding

Blockchain technology allows startups an easy way to acquire funding for their project. Using an ICO methodology… Starting an initial coin offering, startups can attract investors by offering tokens that are a sidechain of a current blockchain.

#4 Way Blockchain Technology Is Going To Change The World: Consistency

This goes right along with #1. I am primarily considering medical applications. With so many patient records, it can be easy for confusion to develop. One medical outlet may be seeking records from 2,3 or more others about a certain patient and these can come in an inconsistent fashion and maybe the patient is in need of immediate attention. With blockchain technology, all records can be delivered in a consistent fashion.

#5 Way Blockchain Technology Is Going To Change The World: Accountability

There were days where companies or even scam artists could hide bad reviews and unsavory actions but with blockchain technology, everything is transparent. If it is in the blockchain, it is sealed. There is no hiding it or covering it up. Every entity on the blockchain is accountable.

#6 Way Blockchain Technology Is Going To Change The World: Decentralization

So many people are worried about Net Neutrality, but with blockchain technology taking hold, Net Neutrality is already antiquated. With a decentralized system, websites can be seen by anyone, anywhere without the expense of purchasing a high priced VPN service.

No one actually “owns” that blockchain. It is a free capital environment.

#7 Way Blockchain Technology Is Going To Change The World: Smart Contracts

The need for lawyers and legal contracts are diminishing with blockchain technology. Using decentralized applications (Dapps), people can use the blockchain to create a contract that is legally binding and enforceable without judges or courtrooms. Simply stated, if one party doen’t carry through with their promise, payment will not come.