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19 Industries The Blockchain Will Disrupt

Future Thinkers
19 Industries The Blockchain Will Disrupt
June 16, 2017
Blockchain, Blog,

Cryptocurrency,

Decentralization,

Entrepreneurship,

Future Society,

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Videos

3

The #blockchain is one of the most promising

technologies for the future CLICK TO TWEET

What is The Blockchain?

The blockchain is a distributed ledger technology that underlies

cryptocurrencies like bitcoin and platforms like Ethereum. It provides a way
to record and transfer data that is transparent, safe, auditable, and resistant
to outages. This technology has the ability to make the organizations that
use it transparent, democratic, decentralized, efficient, and secure. It will
likely to disrupt many industries in the coming 5 to 10 years. These are some
of the industries it’s already disrupting.

1. Banking and Payments

Some say that the blockchain will do to banking what the internet did to
media. It can be used to give access to financial services to billions of people
around the world, including those in third world countries who don’t have
access to traditional banking. Bitcoin allows anyone to send money across
borders almost instantly and with relatively low fees. Abra is one startup that
is working on a bitcoin-based remittance service.

Many banks like Barclays are also working on adopting blockchain technology
to make their business operations faster, more efficient and secure. Banks
are also increasingly investing in blockchain startups and projects. IBM
predicts that 15% of banks will be using the blockchain by the end of 2017.

2. Cyber Security

Although the blockchain ledger is public, the data is verified and encrypted
using advanced cryptography. This way the data is less prone to being
hacked or changed without authorization.
Top Categories
That said, the applications build on the blockchain are still young and there
have been several hacks in recent months. This is something future  Archetypes (9)
applications will need to grow up to.
 Artificial Intelligence (14)

 Blockchain (18)
3. Supply Chain Management
 Blog (10)
With blockchain technology, transactions can be documented in a
permanent decentralized record, and monitored securely and transparently.  Books (79)
This can greatly reduce time delays and human mistakes. It can also be used
 Consciousness (62)
to monitor costs, labour, and even waste and emissions at every point of the
supply chain. This has serious implications for understanding and controlling  Cryptocurrency (12)
the real environmental impact of products. The distributed ledger can also
 Curated Content (7)
be used to verify the authenticity or fair trade status of products by tracking
them from their origin. Some blockchain companies working in this sector  Decentralization (27)
are Provenance, Fluent, SKUChain, and Blockverify.
 Education (58)

4. Forecasting  Entrepreneurship (17)

 Extraterrestrials (2)
The blockchain is set to change the entire approach to research, consulting,
analysis and forecasting. Online platforms like Augur are looking to create  Future Society (57)
global decentralized prediction markets. These technologies can be used to
 Future Tech (31)
place and monitor bets on anything from sports to stocks to elections in a
decentralized way.  Making of the Episode Art (4)

 Podcast (102)
5. Networking and the Internet of Things
 Psychedelics (14)
Samsung and IBM are using blockchain technology for a new concept called
 Psychology (62)
ADEPT, which will create a decentralized network of IoT devices. Operating
like a public ledger for a large number of devices, it would eliminate the need  Revolution (17)
for a central location to handle communications between them. The devices
would be able to communicate to each other directly to update software,  Sci Fi (7)
manage bugs, and monitor energy usage.
 Singularity (17)

 Spirituality (39)
6. Insurance
 Transhumanism (12)
The global insurance market is based on trust management. The blockchain
is a new way of managing trust and can be used to verify many types of data  Uncategorized (1)
in insurance contracts, such as the insured person’s identity. So-called
 Videos (8)
oracles can be used to integrate real-world data with blockchain smart
contracts. This technology is very useful for any type of insurance that relies  Virtual Reality (9)
on real-world data, for example crop insurance. Aeternity is one blockchain
project that is building tools that are useful in the insurance industry.
Popular Episodes

7. Private Transport and Ride Sharing

The blockchain can be used to create decentralized versions of peer-to-peer

ridesharing apps, allowing both car owners and users to arrange terms and
conditions in a secure way without third party providers. Startups working in
this area include Arcade City and La’Zooz.

The use of built-in e-wallets can allow car owners to automatically pay for
parking, highway tolls, and electricity top-ups for their vehicle. UBS, ZF and
Innogy are some of the companies developing blockchain based e-wallets.

8. Cloud Storage

Data on a centralized server is inherently vulnerable to hacking, data loss, or

human error. Using blockchain technology allows cloud storage to be more
secure and robust against attacks. Storj is one example of a cloud storage
network using the technology.

9. Charity

Common complaints in the charity space include inefficiency and corruption,

which prevent money from reaching those that are meant to have it. Using
blockchain technology to track donations can let you be sure your money is
going to end up in the right hands. Bitcoin-based charities like the BitGive
Foundation use blockchain’s secure and transparent distributed ledger to let
donors see that the intended party has received the funds.

10. Voting

Probably one of the most important areas of society that the blockchain will
disrupt is voting. The 2016 US election is not the first time certain parties
were accused of rigging election results. Blockchain technology can be used
for voter registration and identity verification, and electronic vote counting
to ensure that only legitimate votes are counted, and no votes are changed
or removed. Creating an immutable, publicly-viewable ledger of recorded
votes would be a massive step toward making elections more fair and
democratic. Democracy Earth and Follow My Vote are two startups aiming to
disrupt democracy itself through creating blockchain-based online voting
systems for governments. On Our Bookshelf

11. Government

Government systems are often slow, opaque, and prone to corruption.

Implementing blockchain-based systems can significantly reduce
 bureaucracy and increase security, efficiency, and transparency of
government operations. Dubai, for example, is aiming to put all its
government documents on the blockchain by 2020.

12. Public Benefits

The public benefits system is another sector that suffers from slowness and
bureaucracy. Blockchain technology can help assess, verify, and distribute
welfare or unemployment benefits in a much more streamlined and secure
way. GovCoin is a UK-based company that is helping the government to
distribute public benefits using blockchain technology. The blockchain is also See All
a good contender for implementing a basic income. Circles is a project
working on developing a blockchain-based technology for implementing a
universal basic income.

13. Healthcare

Another industry that relies on many legacy systems and is ripe for
disruption is healthcare. One of the challenges hospitals face is the lack of a
secure platform to store and share data, and they are often victims of
hacking because of outdated infrastructure. Blockchain technology can allow
hospitals to safely store data like medical records and share it with
authorized professionals or patients. This can improve data security and
can even help with accuracy and speed of diagnosis. Gem and Tierion are
two companies that are working on disrupting the current healthcare data
space.

14. Energy Management

Energy management has been a highly centralized industry for a long time.
Energy producers and users cannot buy it directly from each other and have
to go through the public grid or a trusted private intermediary.
TransactiveGrid is a startup using Ethereum that allows customers to buy
and sell energy from each other in a peer-to-peer way.

15. Online Music

Several startups are coming up with ways for musicians to get paid directly
from their fans, without giving up large percentages of sales to platforms or
Daniel record companies. Smart contracts can also be used to automatically solve
berger licensing issues, and better catalog songs with their respective creators. 
acking Mycelia and Ujo Music are two startups creating blockchain-based solutions
in the music industry.
FTP
Sch
16. Retail -N
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When you shop, your trust of the retail system is tied to the trust of the store
or marketplace. Decentralized blockchain-based retail utilities work
differently: they connect buyers and sellers without a middleman and
associated fees. In these cases, trust comes from smart contract systems,
the security of exchanges, and built-in reputation management systems. One
startup disrupting the retail space is OpenBazaar.

17. Real Estate

Some of the issues in buying and selling real estate are bureaucracy, lack of
transparency, fraud, and mistakes in public records. Using blockchain
technology can speed up transactions by reducing the need for paper-based
record keeping. It can also help with tracking, verifying ownership, ensuring
accuracy of documents, and transferring property deeds. Ubitquity, is a
blockchain-secured platform for real estate record-keeping that is an
alternative for legacy paper based systems.

18. Crowdfunding

Crowdfunding has become a popular method of fundraising for new startups

and projects in recent years. Crowdfunding platforms exist to create trust
between project creators and supporters, but they also charge high fees. In
blockchain-based crowdfunding, trust is instead created through smart
contracts and online reputation systems, which removes the need for a
middle-man. New projects can raise funds by releasing their own tokens that
represent value and can later be exchanged for products, services, or cash.
 Many blockchain startups have now raised millions of dollars through such
token sales. Although it’s still early days and the regulatory future or
blockchain-based crowdfunding is uncertain, it’s an area that holds a lot of
promise.

19. Your Industry

If your industry deals with data or transactions of any kind, it is a field than
can likely be disrupted by blockchain technology. The space is wide open and
the opportunities are many.

More About The Blockchain:

Possibilities of The Blockchain (FTP041)

Blockchain: The Building Blocks for a New Society with Vince Meens
(FTP033)
Ethereum and The Decentralized Future with Vitalik Buterin (FTP016)
Bitcoin, Decentralization and Basic Income (FTP011)
More blockchain podcasts & videos

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3 COMMENTS

Mel Pullen
3 years ago

I couldn’t Wade through the nearly 500 comments on YouTube so I thought I’d
comment here.

Communication services billing. By that I mean ISP, mobile data. Because internet
will be provided to people (and things, gotta remember the things) wirelessly.

5G boxes are now small enough to be in homes, shops (what are shops, gramps),
see LimeNet.

All protocol usage goes on the blockchain and the free market offers the
consumer the best price.

There, I’ve just created a new industry. And you hadn’t thought of it.

Vasil
3 years ago

20. Domain names. Bitcoin’s first fork is called Namecoin and tries to solve the
problem with the current centralized domain name system. Projects like
EmerCoin, Ethereum ENS and NXT are also providing blockchain-based domains.
You can easily register all these kind of domains via Peername.

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