What's new for Blockchain in 2019?

Of& nbspPrashant Jha

The Blockchain technology finally achieved its result in 2018, with some important progress towards greater adoption and implementation. Although crypto markets have hit the lowest point in 2018, the underlying technology has made great strides. So, what happens to Blockchain in 2019?

Blockchain's biggest gain for 2018 was that more people know that Blockchain and Cryptocurrency are two separate things, and more people know that Blockchain is technology while Bitcoin and Altcoin are just a technology implementation.

The main governments and institutions around the world have shown a particular interest in better understanding technology and trying to exploit it better by implementing it in different sectors, which have been tormented by human greed and greed for control.

In this article, we will discuss how Blockchain can revolutionize various sectors in addition to finance, given that it has already spoken enough.

You can also read: Blockchain Use Case: Charity

Blockchain set to revolutionize the key sectors in 2019

Bitcoin started it all a decade ago when Satoshi Nakamoto published the Bitcoin White Paper. For the first two years, Bitcoin was another topic of Internet discussion under discussion in various forums.

However, when the prices touched new heights and the mysterious aura around the anonymity of the founder gained more attention, people understood that it is the technology on which it must focus, not its by-product. However, the frenzy of the cryptic market has made it almost impossible to concentrate on the main technology.

Thanks to the bloodbath of the 2018 market, attention has shifted from volatile prices to a broader decentralization target. 2018 was the year of implementation, however, 2019 may be the year of the implications, and there are important areas that can benefit from this technology of distributed registers without the possibility for brokers to wreak havoc. We try to find out which sectors can benefit most from Blockchain.

You can also read: Case of use Blockchain: Application of the law

Blockchain in healthcare

The health sector is heavily afflicted by the monopoly of the private sector and large corporate hospitals. The problem lies in the data, in which several hospitals manage different databases of patients and refuse to share them with others. The problem is so complicated that some hospitals have multiple databases in the same building.

This leads to an unorganized form of data collection which is a complete waste as it can not be used by anyone else. With Blockchain in the picture, we can create a decentralized data sharing network, in which all network users have to pay a small amount for the use of such data and can not store them forever.

Some of the benefits of introducing the health blockchain include

1. Data on the health of the population
2. Safe health configurations
3. Patient payments through cryptocurrency
4. Traceability of drugs
5. Clinical trials and data security
6. Management of patient data

You can also read: Blockchain Use Case: Digital Identity

Blockchain in agriculture

The agricultural sector is one of the most ignored in the world and the intermediaries between farmers and sellers eat all the monetary benefits. Thus, blockchain can help eliminate these brokers and provide direct benefit to producers.

It includes some of the main advantages of the implementation of Blockchain in Agriculture

• An organized sector without intermediaries that eats the benefits for farmers.
• Better food security
• Better quality of food
• An organized classification system that would improve the quality of the product.
• Greater monetary gains for producers.

Blockchain in real estate

Real Estate Business is a casino, with organized land brokers and mafias that make it almost impossible to invest in real estate.

Blockchain can streamline the working mechanism and cut out the intermediaries involved, through various implications such as

• Use of smart contracts to make an agreement.
• Use of virtual currency for faster transactions at a minimum rate.
• Smart contracts would penalize those who exceed the deadline set for smart contracts.
• End of the monopoly of the main players.

In addition to the areas mentioned above, blockchain can find its implications in many other key areas, with the same set of ideas and technology. Whether it's the entertainment industry or the problems associated with poor data management, blockchain should make sure that the current trend of Clickbait disappears.

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Prashant Jha

As a content writer, Prashant believes in presenting complex topics in simple terms such as laity. He is passionate about technology and an avid reader.