It’s safe to say Blockchain technology has disrupted the internet in quite a dramatic fashion.
Despite only being invented about fourteen years ago, cryptocurrency has formed a world of its own and it is now estimated the market will hit well above a $1 trillion USD valuation from four years ago…..
Allowing transactions, alongside other things such as documents and invoices, to be sent across a P2P network, the technology has been praised for its advanced security and anonymity benefits.
The latest infographic crafted by Bitfortune looks into how many ways Blockchain technology impacted the world and various business industries, such as charities and banking.
In the world of cybersecurity, Blockchain can help reduce or eliminate fraud and errors, along with being a more accurate and confidential platform for industry professionals.
For example, REMME is a secure platform that has eliminated the need for passwords and instead uses Blockchain as a form of authentication.
In supply chain management, Blockchain is being used to reduce the number of errors and exposure to potential threats.
The technology also helps reduce time and increase efficiency – a win-win all around, really. FedEx recently announced plans for an internal Blockchain pilot program that will help solve customer disputes while IBM and Maersk are also working together on a new company that will use Blockchain within global shipping supply chains.
Take a look at the infographic below to learn how Blockchain is disrupting other industries around the world for the better and why it’s time to start thinking about how you can incorporate the technology into your lives.
For the Silo, Josh Wardini.
Supplemental- Why some traditional banks are broke: Fractional reserve banking.
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