Over the past year, blockchain has infected the mainstream, becoming a sector of tech that people are eager to see blow up. And while it’s still a little too early to tell who might exactly be the frontrunner regarding success, don’t be surprised if more industries start coming out with their blockchain solutions. Even with blockchain’s popularity, one of the biggest things that started to shift is the industries it could change the game for. Check them out below:
Almost all of us have patient information at a hospital somewhere. No matter how often you might have been to the hospital in your lifetime, it goes without saying that any amount of our health information we’re going to want kept secure. After all, you could learn a lot about a person from their medical records, which is why protecting them is so vital. Which, could be something that the blockchain helps solve.
As noted by the CDC, with nearly 86.9 percent of physicians using some electronic record system, this is practically the norm for the industry. However, where the blockchain could become useful is in the safety and transparency of medical records. For example, if someone is on vacation or far away, their medical file could not only be sent safely over. Because the blockchain provides a proof-of-receipt, it ensures accuracy rather than relying on guesswork. In regards to who’s developing blockchain health technology, companies like Nanovision have been at the forefront with their systems to revolutionize medical recordkeeping.
What makes the work of the blockchain companies so fascinating is that they offer healthcare providers with a network that connects them with one another with much more accuracy. Additionally, this could eventually transform into research hospitals and labs working together to provide better solutions. Yes, with a better system for information will come better care, which is something almost anyone could get excited about.
As an industry almost all of us have to rely on, freight is something that could see a use for the blockchain soon. According to Trucker Path, freight alone in the US is worth $726 billion, which is a pretty staggering figure considering how much volume that really is. However, as a field that almost all of us use in some way, reducing cost on this field won’t be easy, but could be possible with the blockchain.
With the blockchain, the freight industry could see some serious changes in the way this industry is structured. For example, companies like the FR8 Network are working to create a blockchain in trucking alliance, which will enable those who work in the industry to communicate in a much more open and transparent way. As a lot of the freight industry currently works based off word-of-mouth, it can be tough for people to pick up work on the cities they deliver to. However, with the blockchain, that problem will be a thing of the past.
Beyond just networking for freight gigs, the blockchain could potentially also make our goods cheaper. Not only will there be less gas wasted by making trips more efficient, but those on the network can start planning better routes, and thus, charging less. Plus, as the blockchain provides a public ledger, it’ll be much easier to point out bad actors and those trying to defraud others. All-in-all, don’t be surprised if you don’t hear more about crypto’s impact on the freight industry soon.
Finally, as the worlds of freelancing and gig work are consistently picking up, this is one industry that could potentially see a big impact because of the blockchain. In fact, according to CNN, 34 percent of Americans are currently working in the gig economy, and that number doesn’t look to be slowing down anytime soon. Other than innovations like attorney Aaron Kelly’s automated contract system, there aren’t a whole lot of options designed to protect gig workers. This is exactly where blockchain could make a difference.
With the blockchain, those that are working gigs or contracts are in a much better position to automatically get what they agreed upon. As a big thing with gig work is that one of the parties doesn’t act in good faith, the actual execution of the agreement will be much simpler, giving those involved a reputation score that could potentially weed out anyone that’s trying to take advantage of the system. And while there have been some early developments in this field, don’t be surprised if you hear more about it soon.
What innovations are you most excited about with blockchain? Comment with your answers below!