BLOCKCHAIN
The Next 5 Industries to be Impacted by Blockchain

2018-03-29 18:19:36
by Dominic Brown
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The Next 5 Industries to be Impacted by Blockchain

1. ID Management and Authentication

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Outside of fintech, identity management is probably the most active area for blockchain development. Decentralising data storage will have security and privacy benefits, and will prevent sale or theft of sensitive data to third parties.

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2. Media

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Fake news is a modern plague that blockchain could help to cure. Peer to peer distribution of written information would help eliminate opportunities for corporate or third party interference, and greatly reduce the influence of advertising interests.

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3. Travel

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Various applications are in development by transport providers, from driver services to airline baggage handling. Blockchain offers considerable advantages in tracking technology, which could be useful for luggage, and ticketing could be simplified if handled on a distributed ledger.

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4. Land and Property

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At least one major project is under way to coordinate sale and purchase of land, with a decentralised register of land usage that could do away with an outmoded Land Registry. Estate agency applications are also under development, which would mean surveys need not be undertaken every time a property changes hands.

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5. Motor Vehicles

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In the same way, the transaction and vehicular condition history can be blockchain-based, making second-hand car buying a simpler and safer process.

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