Hello friends , accept my . We are in third week of steemit engagement challenge. Today I am writing homework task for cryptpacademy which is about blockchain in our lives.

Blockchain is changing everyday life for everyone, what is your opinion on the matter?

To begin with, blockchain was anticipated for fields like Defi and related smart contracts etc. Moreover, the technical knowledge needed for the operation of blockchain-related projects was limiting its use-cases and adoption. With the boom in technology, blockchain was explored and begin to show its influence in day-to-day activities. So I support the statement that blockchain is changing everyday life for everyone.

Besides being a core technology in Defi, conventional fiance could be revolutionised by facilitating global transactions, speedy transactions with low transaction fees, no server down issues, enhanced security and transparency and also saving manpower.

Non-editable nature of blockchain revolutionizes the field of record-keeping in revenue departments where tons of records have to be maintained. Looking for these records by the general public is always time-consuming with traditional means.

Blockchain could do wonders in the field of entertainment like Bollywood, Hollywood, sports etc. it’s not uncommon to face difficulties in booking movie tickets at counters off-line and similarly booking tickets for watching sports match is a tedious task. With the incorporation of Blockchain in these fields, one could book these tickets and even seat numbers add a single click in your bedroom. These are some of the examples of the fields that Blockchain is liable to revolutionise on a day-to-day basis.

Besides the above-mentioned uses, blockchain has great scope in education, health, cybersecurity, governance and voting in elections etc These are some of the examples through which one can understand the importance of blockchain.

What are the main advantages and disadvantages, of adopting the use of blockchain in everyday life?

Following advantages would be accrued in every field in which blockchain is adopted.

Security

As blockchain is a cryptographically run technology, all the operations performed on the blockchain are highly secured via cryptographic algorithms. All the transactions performed on the blockchain are recorded only after verification by notes. After verification, transaction records are publicly distributed across the nodes. This storage unit of transactions is known as a block and each block of a transaction is connected to the previous block through a cryptographic hash until the genesis block is reached. Such an arrangement of data storage makes it highly difficult to forge the data.

Transparency

Blockchain is a decentralized public ledger system where recorded transactions are publicly accessible to everyone. Moreover, the transactions recorded once cannot be edited or deleted. These features ensure transparency.

Accountability

As blockchain operations are recorded only after verification and are non-editable and cannot be deleted after recording. So blockchain incorporates an inbuilt auditable system into any field where it is put to use.

Quality Service

With all the features mentioned above, the quality of service provided in any field would be increased. In addition to the above-mentioned fields, let me give you one more example to clarify this feature. With the boom in technology in recent years, online shopping has gained popularity. With conventional technology, we can place and track orders. Blockchain being an advanced technology, would therefore further enhance every step of e-marketing from order placement to delivery.

Elimination of dependency

Blockchain is a decentralized public ledger system that is accessible to everyone with a single click. As this technology is free from any third-party interference, incorporation in any field would eliminate dependency.

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Disadvantages of Blockchain.

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Technical Knowledge

The operation of blockchain requires ample technical knowledge. As of now, people are not that tech-savvy which would foster mass adoption. Even conventional systems that require more than usual technical knowledge are struggling for mass adoption. For example, the non-repudiable nature of transactions is a clear-cut disadvantage that one can encounter, if transactions are performed using the wrong address.

Non - regulatory system

Being a decentralised system, it is not under the control of any third party. All the individual users perceive it as an advantage, it is viewed as a disadvantage by authorities who otherwise enjoy absolute control over systems.

Disadvantages in Finance
Blockchain in finance would pose threats like the use of finance in illegal transactions, irreversible transactions and evasion of tax.

Discuss the future of blockchain, and how this technology is impacting the world.

The future of blockchain is very bright as it is gradually diversifying its use cases. To begin from BTC and Defi, blockchain is now being used in everyday life as mentioned above.

Everyone wishes for a transparent and highly secure system. Flaws of conventional systems are experienced by every one of us in some way and therefore any system that would reinforce transparency and security is likely to be welcomed by all.

Health care and education are basic needs of everyone. Conventional systems are being constantly upgraded to provide the best possible facilities to citizens by governments but no one in the world is satisfied with the existing system for multiple reasons. Any system that would bring dramatic change in this field are likely to be adopted by masses in future and blockchain is the best possible alternative.

Rigging of elections and excessive time consumption by ballot paper voting have given rise to electronic voting machines. Even these enhanced technology-based machines have remained unsuccessful in conducting fair elections. A blockchain based voting system would be a miraculous step in conducting fair and transparent elections.

Cybersecurity is an issue of great concern for governments as well non-government organisations who wish to keep their data confidential. To emphasise the importance of cyber security, let me give you an example.

In the recent Russia - Ukraine war, an anonymous group of hackers infiltrated the telecommunication network of Russian forces and revealed their voice recordings online. That could have been a great threat to Russia. If blockchain is adopted en masse, cyber threats can be almost nullified.

With the handful of examples given, future of blockchain and its impact could be envisaged.

What is your opinion about the implementation of blockchains in the health sector? Has the implementation been positive or negative? Explain a use case.

Implementation of blockchain in the health sector globally would be a great step forward to bring dramatic changes in this sector . Its positive impacts would outnumber its cons. As for the use-cases of blockchain in the health sector are concerned, we can discuss it under following headings :

• Blockchain for patient care.
• Blockchain for health professionals.
• Blockchain in the healthcare supply chain.

Discussing each of these fields would be lengthy. Let's pick a single use-case as demanded in question :

The introduction of blockchain in patent care would revolutionize this sector of health in the following ways:

• Patients who suffer from chronic diseases like diabetes, hypertension, chronicle liver disease, chronic kidney disease etc need to maintain their records for decades. Maintaining written records for so long is a cumbersome task and patients often lose records and are therefore liable to hinder the treatment protocol. With the incorporation of blockchain, Electronic Medical Records (EMR) would be available at a single click online and therefore patients need not carry their records manually and therefore would be benefited by getting proper treatment anytime and anywhere.

• ELECTRONIC MEDICAL RECORDS (EMR) would help in the identification of a particular disease pattern in real-time and initiation of response thereby. As records would be available online, pandemics or epidemics would be identified in real-time as a particular symptom complex would manifest at a higher frequency than usual and would trigger real-time action.

• ELECTRONIC MEDICAL RECORDS would help in the identification of a pattern of disease. We know that, if we compare our lifestyle with that of people living 20 years ago, our lifestyle is more sedentary. With a change in your lifestyle, the pattern of disease has also changed from that of more infectious to more lifestyle besides diseases. With blockchain, such shifts in disease patterns would be easily identified and interventions would be taken on time.

• Anonymity and decentralisation of blockchain could be utilised in performing clinical trials to bring new medicines into the market. As clinical trials require confidentiality of the data about the drugs and the patients, blockchain is best suited to perform such operations. Moreover, the confidentiality of the data is also required in certain diseases like HIV, tuberculosis etc. With conventional systems, a breach of professional secrecy is not uncommon.

• Patient can share their medical records with health professionals globally and therefore can choose the best possible Health care for themselves. Similarly, system-generated notifications would enhance compliance with the treatment as patients would get notifications about their medication timing and follow-up to the health care professional.

• All the benefits of blockchain in finance could be utilised in providing better Health care insurance facilities to the patients.

Conclusion

Blockchain is a decentralized public ledger system that made its presence with Bitcoin and other decentralized finance basis projects but later widened its horizons to the majority of the field catering to our day-to-day life and that too in away better than our conventional systems.

Thanks