The different industries just waiting to be disrupted! - Part 1
The Blockchain is at it again and there just seems to be an endless amount of industries that are ripe for distruption is a good way. Thereby making the goods and services we're aiming to by that much less cheaper and less cumbersome to go out and purchase.
Down below i've listed a long list of different industries that sooner or later they'll be experiencing the inevitable. What is for certain however is that present and future disruptions will be the norm over the next decade...
1. Banking and payments. - within this space there is already alot of disruption going on. A company named Abra is working upon a blockchain based remittance services. Barclays is currently exploring the use of Blockchain based services, many other banks both big and small are looking into the space such as China's central bank to santander and so on. IBM predicts that 15% of banks shall be using blockchain based technology within their business model by the end of 2017.
2. Cybersecurity- Due to data now becoming vertified encrypted with cryptograhpy, data is therefore less prone to being changed against unauthorized changes and hacks within the system. The blockchain elimitates the need for middle-men making it more efficent than legacy systems within the space now.
3. Supply chain management - With Blockchain technology, all transactions are documented in a permanent decentralized record. Thus allowing for systems to be monitored securely and transparently. The technology therefore allows less time being taken up by onerous paperwork, transactional costs and wastes by streamlining the entire process to process transactions quicker than the normal process as well as minimising human error. Emissions can be tracked more closely and you're able to build a better of the environmental impact of it. Products can be vertified for their authenticity and a company within the space is Providance, which recently teamed up with Co-Op to trial it out with their food source. The worlds largest shipping company had recently trailed Blockchain for the exact reason.
4. Forcasing - Augur is a global decrentalized prediction markets. Thus allowing insurance companys and or individual clients to place bets on anything from sports, olympics, election results and contests in a decentralized fashion. Cutting out the middle man reducing costs and the need for gambling stores altogether. There are also cryptocurrencies within the space, one such would be skincoin, which by the look of things already has some skin in the game...... (Ha-ha)
5.Insurance - The global insurance market is based upon trust. Blockchain is a new method of trust management such as insured persons identity. The technology is extraordinarily helpful when it comes to insurance reliant upon real world data like crop insurance. eternity is a blockchain startup helping to disrupt the insurance industry.
6. Private transpotation and ride sharing -Blockchain is very useful within this space and has the potential to seriously undermine the costs traditional your cabby charges from cheaper competition as essentially anybody could become your new local cabman on such short notice. Blockchain allows both the driver as well as rider to negotiate the terms and conditions without the intervention of a 3rd party. This gives ride sharing that little extra free market touch with voluntary interaction. Start ups within this space are Arcade city and La'zooz providing the market with new fresh blood.
if you know any industries that Blockchain is looking to disrupt and i have not mentioned than do post it down below.
I'll be posting a part 2 tomorrow. Stay tuned
To follow and resteem if you feel this post was beneficial to you!!
Happy Steeming