10 Ways Blockchain Is Changing The World For The Better

[Music] hello everyone and welcome back to the official YouTube channel of Boston blockchain week and in this video we are going to talk about the top 10 ways blockchain is changing the world for the better this episode is brought to you by cubic Labs an incubator from Metro Boston's blockchain startup companies number one cryptocurrencies this is the most well-known application of blockchain Technology initially they use as a cryptocurrency were mainly centered on payments parties can do business without the involvement of a bank for example a person in the United States can send Bitcoins to someone in the UK without using a bank number two advertising right now Google and Facebook control nearly all digital advertising traffic Google and Facebook in this case are effectively middlemen who dominate the advertising environment using a decentralized system blockchain allows producers and consumers to communicate directly number three real estate in the real estate market like in advertising there are intermediaries in the shape of brokers who frequently demand extravagant fees for connecting buyers and sellers these intermediaries may be eliminated with blockchain technology instead of depending on centralized advertising or listing portals a blockchain may be employed where producers can give their ads or listings and consumers can see them directly without the intermediaries number four Supply chains several actions must be taken before an overseas delivery may be made for example it may pass via the courier service provider such as DHL the most challenging problem in this supply chain is tracking the shipment status number five insurance firms can use blockchains to manage data from persons who have submitted false insurance claims this allows them to verify the applicant's identity when issuing the insurance claim the most exciting thing about this method is that no insurance company is responsible for keeping this data number six credit ratings the data is dispersed throughout the firms which Fosters a high level of trust the same concept may be used in banking where banks are working on developing a database of defaulters as it is in the insurance business credit rating agencies now provide this function banks are attempting to remove credit rating agencies by utilizing blockchain allowing them to securely exchange defaltered data number seven Healthcare Patients health records can be safely saved on a blockchain so that when the patient sees another doctor he or she can exchange those records directly with the new doctor the nicest aspect of adopting blockchain in this situation is that there is no requirement for centralized gateway to keep these documents number eight voting voting difficulties continue to be a source of worry in this day and age while computerized tools have helped to simplify the entire process it still needs Improvement a blockchain-based voting system eliminates fraud while being totally transparent several platforms are working on this answer and the entire voting system may catch on once it is finalized number nine digital IDs the blockchain's immutable Ledger provides a tamper-proof record of an individual's paperwork accessible only upon request by the authorized entities having secure and private access to digital identification is crucial in an increasingly digital environment even Microsoft is jumping on board and digital identities will be a crucial talking Topic in the future decade in terms of blockchain Technology number 10 gaming the video game industry quickly adopts blockchain technology especially non-fungible tokens or nfts in-game economies and unique objects are often used in games and nfts provide a mechanism to enable that economy while ensuring that players stuff is accessible between games the video game industry is worth billions of dollars so there is plenty of space for technology to flourish and that my friends is the 10 ways blockchain is changing the world for the better if you enjoyed this video please hit the like button and don't forget to subscribe to our channel for more videos like this thank you so much for watching and we'll see you guys in the next video [Music]