5 Industries Blockchain Will Change

There is a lot of talking about blockchain will revolutionize the world, and I certainly believe it will. But do you know how blockchain will revolutionize it? and what industries? Probably not. Thats why below I have chosen 5 industries that blockchain will change in the future:

1. Logistics - imagine a package going from China to lets say Europe. When I give the package the delivery guy I have to fill in a very specified form about the shipment. Then he takes that to one company that transport it to the harbor. There, they have to declare what it is, where its going, how much the weight is etc,. Then it is shipped, to the harbor in Europe, the shipment has to declare in the package in to Europe, which is a lot of paperwork. If its not filled in correctly there is a fine, which the shipment company has to pay. Then a truck takes the package with a paper with the information and drives in to town, where there is a last person taking it to your door. This creates a lot of problem, paperwork and confusion. If all this information was put in a smart contract and put on a blockchain where everybody could view, audit and sign off, we would save a lot of time and money.
2. Realestate - if you have ever sold or bought an apartment and a house you know that there is mountains of paperwork. All the information about the house/apartment is printed out every time by a broker that charge a lot of money for this. In the end, we trust the broker to get the right information about the right Realestate with the right updated facts. Instead, blockchain could store this information uncorrupted, safe and public in a ledger which could be easily used for each sell for a low cost.
3. Banking - Blockchain would be a more secure way to store banking records, and a faster, cheaper way of transferring money through the decentralization provided by blockchain. That is why international banks like Barclays and Goldman Sachs both employ plenty of blockchain developers for future us of blockchain in their banking system. (I also have insights in the Swedish bank SEB where they have a blockchain team where they are looking into how they can use this technology in the future)
4. Voting - Voting systems secured with blockchain technology would be completely unhackable. From voter registrations to verifying identity to tallying votes, the system would be indisputable. (We just had election in Sweden were they miss calculated the votes. In a secure country like Sweden I never thought that could happen. But when I monitored the system and saw that we still put small paper notes in a envelope, that is sent from China to Sweden, some volonteir person open the envelope, they put the colored paper in another box. Then someone else count all the papers in that box and now my vote is counting. Seriously? 2018?)
5. Government - Dubai is the first government to totally be built on blockchain 2020. What blockchain techonolgy can help with despite voting is: welfare, tax collection and unemployment benefits could be more easily verified and distributed, eliminating fraud and waste. Smart contracts could ensure that government funds are only released when certain conditions are met whether to contractors or foreign governments in the form of aid. With blockchain governments could be unhackable, which is something that we should be more worried about than we are.

These are just five industries that I can think on top of my head can me revolutionized with blockchain. After just working in the blockchain industry for a short period of time, I more and more start to see the necessity for companies, governments and even countries adapt this new technology. If you want to learn more, send me message and I would love to talk blockchain with you.

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Thanks for reading my article! My name is Magnus Dettmar and I work for ViewFin in Shanghai, which is a Blockchain as a Service (BaaS) which tokenize businesses. We are the creator of Metaverse, which is a public blockchain which is top 50 in the world. I have a big interest in blockchain and will write articles about it every week. So if you you want to learn more, follow me on linked.

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