Blockchain is a development which is totally changing the way businesses, local authorities and even governments will be doing their accounting in the future. Although it is a development which allows one participant to view files from another, unlike in the past those files cannot be altered in any way. This means they have a lot of potential in the future and not most of all because they can help all of these participants to show transparency in whatever aspects they share.
The financial industry has been very quick in taking on and using the potential that Blockchain now offers them but it is expected that many aspects of business and government will adopt it in the future. It is expected that Blockchain could perhaps have the biggest potential in the agricultural industries, healthcare industries as well in the field of transportation.
One industry which has perhaps surprisingly taken up the use of Blockchain immediately is the gaming industry. Not only does this industry see Blockchain being able to afford gamers an improved gaming experience but they have already shown it in its use in the more recent game releases.
Although this new technology seems to have been taken up by many game developers, between them there are two trains of thought in which ways Blockchain can improve the player’s experience. Whilst some game developers are only using it for certain aspects of the game such as rewards or advancements, others are building their whole games using Blockchain. So far both adaptations of its use has proved positive, in the future both may be enhanced into the same games giving the players the ultimate gaming experience.
There is little doubt that Blockchain in the future, will affect many aspects of our lives in one way or another however, some of those affects such as when they are applied to the agriculture industry, may not be readily recognizable to us but others, such as in the gaming industry, will become more apparent. There is absolutely no doubt though that Blockchain is something which is here to stay and other the next few years will be steadily increasing in its usage and as that happens, even more uses for it may start to become apparent.
In the financial world though, Blockchain’s ability to more easily display transparency will be its leading feature and also its ability to offer organizers and organizations better access that is needed for important accounting details used for analytics. The ability to allow better analyzing is an important factor in any business and any government organization as it can lead to better cost effectiveness and efficiency.
Although Blockchain was introduced by just one company, today it potential for benefits has meant that several companies now offer the technology so it is easier to access and use to its full potential. Anyone today looking for a career in many aspects of government or industry needs to familiarize themselves with how Blockchain works and how it can be used to everyone’s advantage.Published: Apr 22,2019 10:15:00 AM IST