Steemit Crypto Academy Contest / S2W3 - Blockchain in our lives.
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Hello Steemians. The third week in this engagement challenge continues and this is my third entry for this week. It was another interesting contest organized in the community which I will be writing about today. I will like to urge you, friends, to read with me today as I write how blockchain is changing everyday life for everyone.
Blockchain is changing everyday life for everyone, what is your opinion on the matter?
Blockchain is changing our world with its implementation in different sectors which is making our lives better in different ways. The blockchain that first came into existence when it was proposed in the 1991 with less popularity at that time until its application as the technology that cryptocurrency is built on in 2009, that's when it became very popular and other sectors started adopting it to make their space better.
Blockchain has a lot of features that differentiate it from other technology, an example of that is decentralization where all the nodes of a system are interconnected in a way that a fault in one node that halt its operations won't affect the system, the network will continue its work and allow people to perform their intended work without any delay.
Furthermore, the decentralized nature of blockchain helps to make timely decisions without experiencing any delay that would have occurred when the sever of a centralized server goes offline, this won't happen in blockchain as many nodes will continue their works and allow one to perform any transaction as they wish to.
Blockchain helps to securely store information on it in a transparent way that cannot be changed by anyone, this helps to guide against corruption that is very popular in many sectors that have their mode of operation to be centralized, enables us to make quick transactions at a reduced cost, foster cross border interaction and many others.
This special technology has been implemented in many sectors to improve their users' experience and attract more people to their organization due to added advantages that blockchain has brought to their business. It has been implemented in real estate, human fitness, healthcare, gaming, and many others. I will like to talk about some of the above-mentioned sectors later in my post today.
What are the main advantages and disadvantages, of adopting the use of blockchain in everyday life?
We have many advantages and disadvantages of adopting the use of blockchain in our everyday life, these are the things that either make or mar the use of the blockchain and as the question of this section demands, I will be writing about them.
Advantages of Blockchain
Disadvantages of Blockchain
Discuss the future of blockchain, and how this technology is impacting the world
Blockchain has been implemented in so many sectors as I explained before which can make our everyday life easy when compared to the conventional sectors that have been existing before now. Blockchain has proven to be a very efficient way of maintaining records in a decentralized manner which eliminates the cumbersome traditional method of storage.
An example of a way blockchain is impacting the world is through the tokenization of real estate assets on the blockchain, this helps to connect property owners with buyers and foster trades through smart contracts and this get rid of all forms of scams as one asset can only own identity to a true owner. The tokenization makes it easy for the sale and acquisition of properties without involving an intermediary.
Furthermore, the level of transparency of blockchain is one important thing that would change the world, to improve trust between individuals. I can boldly say that blockchain is the future and its implementation will be seen in so many sectors in the nearest future. I will like to talk about the role of blockchain in human fitness and gaming.
Blockchain in Human Fitness
The popular saying that health is wealth is true, that is it's only through good health a human can enjoy what she has toiled for under the sun. It has health benefits for human beings to be exercising regularly so that the body system remains in good condition. Traditionally, we can exercise to stay fit but can't earn any money while during these things.
Blockchain has been implemented on some protocols to help people perform their fitness regularly and they are rewarded for doing it which is a kind of encouragement to do more, an example of this is the Walk-to-Earn model implemented on Stepn where people uses NFT sneakers to walk or jog or run by consuming daily energies and earn money.
Blockchain in Gaming
Another beautiful advantage of blockchain can be seen in the gaming sector. Traditionally, you can only play games to enjoy by yourself or by playing against your friends and nothing as incentives can be earned. Blockchain changed the narrative as people can now play games and earn real money for their knowledge of the game.
Furthermore, the model used for this is known as Play-to-Earn which could be like managing a virtual farm on a gaming protocol that is built on top of the blockchain. A player can buy different animals, feed them till they grow, multiply them by reproduction (like the transformation of eggs laid by a chicken to chicks) and all remains the property of the player that can be sold to other virtual farms on the game to earn real money. An example of this type is CropBytes which is farming based.
What is your opinion about the implementation of blockchains in the health sector? Has the implementation been positive or negative? Explain a use case
It's no longer news that blockchain has been implemented in the health sector and its implementation is positive so far, there may be even better use cases of blockchain in the health sector in the future. The success of blockchain in the health sector added to the successes of blockchain and this will enable more sectors to adopt it in the coming years, like I said before that the future is the blockchain, and every sector is beginning to see its benefits.
According to my research, I identified some of the popular problems encountered in the health sector and how the blockchain has helped to win over the problems, some of the problems are with the supply of goods to a health facility, record keeping, and many others. I will be talking about some of the positive results of blockchain in the health sector below.
Coral Heath
Coral health is one of the healthcare companies that has implemented the blockchain, and it is based in Vancouver, Canada, the creation of the use of blockchain in Coral was in 2018. Coral works in a way that they collect patients' health records and stores them using the distributed ledger system of the blockchain so that data of patients is securely stored in a way that no part of it can go missing and that's because of the blockchain's immutability.
Furthermore, Coral uses the data stored to connect patients with the right doctors, physicians, pharmacists, surgeons, health organizations, and many others, so that patients get the right hand to handle their health cases, and only recognized professionals on the blockchain is connected with the patients.
Also, Coral uses smart contracts between the patients and health professionals to ensure that all treatment required is being done and the medications have been taken by the patients as prescribed. This is one of the many health sectors that have implemented blockchain to achieve a very positive result.
Conclusion
Blockchain has made our everyday life better with its benefits like decentralization, security, smart contracts functionality, immutability, and many others and it has been implemented in many sectors, and the result is positive. Some of the sectors it has been implemented in are real estate, gaming, human fitness, agriculture, healthcare, and many others.
The success of blockchain in many of the above-mentioned sectors shows that the future is the blockchain as more sectors will implement it in the years to come. I sincerely thank the academy for this type of contest that allows me to talk about blockchain and its application in my field.
Well, i must commend you, you have made a very good research about coral health, the adoption of blockchain will benefit the health care system in several ways,
Imagine earning by just doing activities that is been done for fun, play-to-earn is one of the favourites decentralized blockchain gaming center that i love i haven’t done much research on walk to earn but i know that it is a good project on blockchain
Yiu have detailed so much about the use and benefits of blockchain I cannot agree less
Thank you for reading. Blockchain is still growing and what it will look like in the future would be massive in adoption.
Walahi talahi
Oma loud gan ni oo
I’m sure that we have not discovered half of what blockchain can offer us. I suppose we will only learn with time what will be next.
A great post with lots of information!
Thank you for sharing & also for the invite 🌼
Good luck for the contest!
You are right, blockchain has many amazing features that makes it unique, and we will continue to learn more about it. Thank you for reading.
Believe me you are not the only one learning. I learn of crypto and blockchain with each day.
One of these days we will be known as experts 😊
Yes, we will soon be known as expert.
Nice entry friend. Blockchain is a technology that has come to stay. One of the amazing feature that I love about blockchain is the fact that, it is permissionless. One does not need to belong to any social class or background to be able to access it. It has come to stay, and with time… it will invade all sectors.
Yes, Blockchain does not require permission of any central authority, user has total control over her account. Thank you for reading.
Yes this is why it makes it a suitable avenue for users to run their stuff fair and square without any one feeling like he or she was cheated.
Yes that is true. We sometimes even see it with crypto networks where we can’t send an different currencies to one network or the funds will be lost.
A suitable example is deepcypto8 which is only meant for steem deposits.
If a user makes a mistake and send sbd there then it means his funds are lost.
Wow I think this is really great to hear about.
So in this case, does it mean both parties will not meat on ground but will only meat after the final deal has been struck?🤔
Yes, in the application of Blockchain in real estate, the owners and buyers complete their deals virtually and the property will be transfered to the new person, they may not even meet at all.
Yes one of the biggest benefit of blockchain is that its data can not be changed because all the data on the blockchain is permanent and not editable. What do you say about this feature of blockchain?. Is its helpful or not? Share your opinion.
Yes games has been boosted so much due to this technology. For this we can take an example of Axis infinity game that is one the most popular blockchain game. So, we can guess from here how blockchain technology impact's the gaming sector.
Friend congratulations to become a winner of previous week I appriciate your engagment efforts. Thanks for sharing your informative and quality blog with us.
Greetings 🇵🇰
The immutability of blockchain is good as it prevents bad actors but in some ways it's not too good in the case when wrong information was stored. I still prefer the immutability, that's one of the ways we are assured of our data safety. Thank you for sharing on my post.
You raised some valid points related to the block chain security. Now everyone is taking block chain seriously and that is a positive side for this platform. Nice post. Best of luck.
Everyone is taking blockchain serious because of its great features, it is decentralized and it's transaction is fast, limitless and can be done to any part of the world. Thank you for visiting my blog.
I really like the fact that you talk about how Coral health adopt blockchain technology in its functioning.
Talking about it keeping patients health records on digital ledger, linking patients to specialists and also monitoring patients to doctors relationship.
Coral health is just one of the companies I see, there are others too. We will see more of them in the future. Thanks for sharing on my post.
This is a very nice post. I believe that you did your research for this post. As you mentioned, one of the disadvantage of Blockchain is that there's little or no cross communication.
However, there are some Blockchain platforms that have developed this feature.
Good luck in the contest
Yes, cross-communication is a problem in some blockchains.
I wrote about this in the post as some of the blockchains have the functionality.
The issue of cross communication between different blockchains is one worthy of note it is a big disadvantage. It affects transactions a lot. They can charge a fee twice the usual and and that settles the thing but I think blockchains are not made to work that.
It's a very knowledgeable post you have shared. Have a good contest outimg
Yes, cross-communication is worth to be bothered about as it makes it difficult for easy access from one network to another but some blockchains are supporting the interoperability already.