A year ago, the innovation team claims that blockchain technology has the potential to do anything a person wants, including preparing a cup of tea. However, it’s more important to analyze what use cases of blockchain technology is and how effectively it can resolve major issues.
Nowadays, Blockchain Technology is just a super cool – it has become a quick solution to everything. Origin of this disruptive technology eliminates the need for a third party – as such, it creates the trust among peers. It has replaced the core idea on which the world revolved, the money. From the banks, healthcare, IT to online shopping portals, Blockchain technology is now looked as the key approach to resolve all kinds of problem.
Let’s talk about global problems that blockchain supposed to fix
- According to a post published on wired.com, there are more than 500 problems that blockchain is supposed to fix – few of them are in line below!
- Tracing Water supply
- Venture Capital
- Private Equity
- Monitizing Mobile Data
- Expensive AI research
- Transperancy in food supply chain
- Detecting/Preventing Fake News
- The illicit diamond trades
- Currency for sports and eSports betting
- Elder care
- Gold backed crypto and Crypto – back Gold
- Uber for alcohol on the blockchain
- Trust in governments, corporations, social networks and Media
- Retail management
- Decentralized Uber and Lyft
- Online Piracy and more
Besides these, there are a lot more things blockchain is can fix including democratizing gold trading. Amidst the continuous cryptocurrency and new tokens primer, few analysts do battle with its nature of decentralization.