Will 2019 be the year of the blockchain?

Of& nbspSumedha Bose

Blockchain, the revolutionary technology that has conquered the world, has concluded the year 2018 with a high note.

Having been deployed and integrated into various sectors around the world, in several countries by democratic and authoritarian regimes alike, it has stood the test of time and has emerged as the technology of the decade.

Among its most sought-after features, it is its transparency, immutable nature, public access and tamper-proof design. Cryptocurrency was just one of the cases of blockchain use. Beyond that, it has emerged as a highly disruptive technology against many traditional sectors.

As we move towards the year 2019, technology will be a driving force in our society, more than ever.

As the world shrinks more and more to the second, borders begin to shrink to points on the horizon, and while technology weaves the lives of individuals together for good and evil, blockchain has the potential to alter the face of things as we know it.

Many traditional financial institutions are starting to use Blockchain as Ripple, to facilitate cross-border payments and make it less time-consuming and more efficient.

Supply chain management has become much more comfortable and hassle-free due to the advantages of storing all information at every step, on blockchain. This makes the system safer and more transparent for the producer and the consumer.

Blockchain has proven to be a real boon in the health care sector, where it has brought physicians closer to those in need of medical assistance. By eliminating counterfeit drugs, implementing fair prices for medical services and providing all the necessary information regarding treatments and medicines in one place, blockchain has shown its true need in the healthcare sector.

Nowadays, even industries that have nothing to do with cryptocurrency look to the blockchain as a profitable resource that can advance its business.

The only thing that blocks the way to blockchain is the lack of awareness. People generally resist change, they do not like changing a system they are familiar with and comfortable with.

This is why most people do not even make an effort to understand the blockchain and the technology behind it, not to mention promoting it.

However, with the major governments integrating technology into their administration, it really seems that blockchain technology will find greater acceptance in the coming year.

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Sumedha Bose

Sumedha uses words like her crutch to get by in life. He takes a keen interest in discussing, dancing and destroying patriarchy in his spare time. You can be contacted at [email protected].