3 likely ways blockchain will transform our lives

There’s no doubt blockchain is gradually becoming a reality everywhere we go. There are so many problems that the technology can solve for us. Do you have a small company but frequently feel transparency is missing due to archaic procedures of operations? Have you ever ended up with higher than usual medical bills? Have you had difficulty finding legitimate operating systems that are technologically superior? These problems affect many of us, from entrepreneurs, startups, small to medium size companies, individuals but blockchain technology can potentially provide solutions to make our lives much simpler through simplified solutions.

Healthcare

Blockchain technology may simplify health in amazing ways and create clinical data management much easier. Making individual patient records broadly available in a safe and secure manner can enable research on drug development to be done faster and lessens the consequences of fake drugs. Clinical trials and their results can be made available on the blockchain network, enabling healthcare researchers and specialists to conduct research, collaborate and discover answers to enhance health care deliverables.

With blockchain, billing frauds in Medicare may be reduced significantly since the billing system could be completely automated due to the secured nature of the technology. Blockchain systems can efficiently protect taxpayers who seek medical help from health care providers which sometimes overcharge for services provided through deceptive billing tactics.

Banking

We may hear of eBanking services but at the end of the day, banking services all over the world are still pretty much focused on transactions that use a ton of paper for any money transfer, record keeping or other backend administrative tasks. Blockchain technology can change things because in a decentralized ledger that allows not only the bankers but also the customers to access a single source of information, this system allows banks to eliminate possibilities of any types of fraud as documentation and proof of possession of assets can be checked digitally by bankers in an unalterable blockchain ledger.

Blockchain can also help rid identity theft as that is also a huge issue in the banking sector, with citizens’ private data stolen every so often and used to open fraudulent bank accounts for nefarious activities. Through the blockchain, clients can immediately view all reports possessed by them and inform their banks in the event of suspicious activities.

Voting

Among the biggest constraints of democratic societies around the world is, a voter has to be physically present at a polling station to cast their vote and that has always made things difficult for people who need to travel on the day they had to vote.

In the future, with blockchain, secured online voting may very well be a reality. It will enable voters to view real-time, up-to-date information on poll results and many other statistical public data. It also makes it safer for citizens of in countries ruled by corrupted ruling parties with intentions to coerce citizens into voting for them or candidates they’re in cahoots with.

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