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How blockchain technology will change the world we live in

There are many exciting things happening in the technology space right now. We have self-driving cars, drone deliveries, advanced robots and a host of revolutionary new developments. One real game changer that tends to fly under the radar is blockchain technology.

Here are just a few areas that blockchain is changing the world:

Banking and Finance

This is probably one of the fastest growing areas in which blockchain technology is being applied.  Traditional banks have realized the threat as well as the opportunity blockchain presents and are rapidly trying to adjust the way they operate.

Health

Availability and consistency of medical records have always been an issue. Many people try alternative medicine such as kratom leaves and other magical plants, Ayurveda, massage therapy, but oftentimes we still need to get a proper check-up by conventional doctors.

Blockchain could keep a secure record of your medical history that could be accessed only by those authorized, anywhere in the world and in an instant. This alone could save countless lives. 

Administration

Blockchain can also be used for secure voting. Not only will it be faster and safer to use blockchain for these important records, but it will also be an incredible cost saving over traditional systems.

Education

Blockchain can be used to record and verify academic achievements. Authorized parties can have access to these trusted records and this will eliminate the issues of CV fraud.

The Sharing Economy

This sector of the market is booming and blockchain can give it an added element of control and security. Ride-sharing, for example, could use blockchain to ensure toll fees, parking and fuel are safely recorder and correctly charged for.

Final thoughts

These are just a few examples of existing ways in which blockchain can change the world. As the technology evolves and more people understand the potential, there is enormous scope for future developments in a wide range of industries and applications.

There is no doubt that the future will look very different as a result of the blockchain.

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