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3 Industries the Blockchain Technology Will Dominate

Dec 07, 2017 Posted /  9102 Views

3 Industries the Blockchain Technology Will Dominate

The Blockchain technology, in the recent years, has made some great strides to become a humankind technology and work for its betterment and modernization. It comes to light with the global unveiling of the Bitcoin currency, and at that time, cryptocurrency and its core technology Blockchain were greeted with an air of negativity and enormous criticism from diverse sections of the society. But, the growth graphs, Bitcoin and Blockchain both have added an all-new dimension to our society.  

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To understand from a layman’s tongue, Blockchain is nothing but a virtual ledger, which is shared amongst all computers in a network. It verifies and maintains a record of all the transaction that happens over a cryptocurrency network. The Current scenario is such, today, all cryptocurrencies, are relying on this robust technology to better secure their network against cyber crimes. The Blockchain is virtually a hack-proof technology unlike, the banking databases where only one place is holding the data, here every computer contains this ledger. Therefore, there is no single point of hacking, a virus attempt to be successful needs to make inroads in every computer in the chain, which can be hundreds, thousands, and even million.

Here, in this post, we list the various verticals of business and industry Blockchain is going to modernize:

Aviation Sector

The worldwide aviation sector, in the last couple of two decades or so has revolutionized immensely, specifically, with the emergence of the Internet, which has taken this industry on the World Wide Web. As, now you check fare, book a flight and cancel anytime and anywhere, just by the tapping of your finger, no need to visit any local agent or the airport, some days in advance. In the recent times, many airline companies have tied up with eminent Blockchain development businesses across the globe to bring the successful underlying technology of Bitcoin to the airline industry for its betterment and to make airline experiences for its customers commendable. The Blockchain technology is a bundle of possibilities, it can better secure an airline, such as the database of the customer, pilot, and his or her crew members. This indeed can be a great way to keep terrorism away from this sector, unlike, what happened a decade back at the world trade center. Apart from the security aspect, it will allow your customers to save that extra dollar, as the transaction fees of Blockchain based payment platforms are quite low, compared to traditional ones dominating the payment industry, like the PayPal.

The Global Recruitment Industry  

The present situation is such, HR department of companies in every nook and corner of the world has to blindly believe the sayings of one piece of paper, known as a resume when recruiting candidates. The wholesale mechanism for the verifying education credentials is not only expensive for the corporate world, also time-consuming up to several months, and at the end of that, you come across that the candidate has found a great opportunity with another organization. This may be one of the reasons, why the global job hire and fire rate, are both following an upward trend with every passing year. However, Blockchain has an important role to play, powering global educational institution to keep a record of every candidate who obtained a degree from their place. This way, in the coming years, companies can give a call to universities to inquire anything about a particular job applicant. In recent years, several stories have surfaced where top universities have even implemented this technology.

Personal Development Industry

Every individual has his or her professional attitude, which needs to shaped for a glorious future. Personality development helps people in all walk all life, whether you are a corporate guy or a business ruining a big organization.  That's why, there are a plethora of opportunities for the business and social coaches in most parts of the world, they assist with each and every minute details on how to maintain a better personality to make that decision if you are a businessman. On the other hand, fuel people to have their dominant say in the workplace to win over the trust and confidence of the senior and higher administration of the company. However, a flip side to this, many have entered the industry of personal mentoring, just for making some quick money, while others for lively time-pass after retirement. So, in a nutshell, just by hiring some to keep a tap on your personality won't lead to great results, until and unless he or she is fully qualified for this job.

This is where Blockchain technology come to the fold, many Blockchain development companies by working on creating a platform where people will input their personal credentials, and get a quick answer based on personal experiences of individuals those who dealt with this situation earlier in their life.

To wrap up, apart from these three there are many applications of the Blockchain technology, and digital voting is the most discussed of them all.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: blockchain blockchain technology virtual ledger

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