Blockchain pushes companies to be honest with each other

Blockchain, the technology behind cryptocurrencies like bitcoin, is our best chance to promote collaboration and the proper use of their services. It provides a solution to align the interests of all parties.

In the blockchain, a dispersed network of stakeholders assumes the previous owners of these services. These providers and users not only own but retain services that are powered by the blockchain. They can also share the profits produced by the services.

Several companies are trying to find out more about this concept and how they can use it to develop platforms that enhance the interests of everyone.

Digital advertising is an area that is benefiting. The new companies are trying to reshape the digital advertising landscape, which is best known for endemic hostility among all parties. The company uses smart contracts to create a fair and transparent environment in which users, publishers and advertisers can do business.

As mentioned, all parties can benefit from this type of digital advertising platform. Because it eliminates brokerage costs, advertisers do not have to spend much and publishers can earn more. Blockchain transparency also ensures that both publishers and advertisers can determine all displayed ads and how they distribute dividends.

Similar progress has been made in other areas, one of which is health care. Blockchain-based solutions can guarantee transparent and secure transactions among all market participants. In addition to using the same infrastructure, patients and providers can also gain from this platform. By providing feedback, responding to surveys and maintaining adequate dental care (via a dedicated mobile application), patients can collect tokens, which they can use to pay for treatments.

Suppliers can use tokens collected from payments and premiums to pay for laboratory services, supplies and equipment within a growing global network.

Video distribution platforms can also use blockchain technology. Provides clear incentives for users who share and monetize content on the blockchain. Flixxo does not host its videos on centralized servers. Instead, its users share free disk space to host videos, using BitTorrent to store content and share it with others.

When a video stored on the user's computer is consumed, that user gains a portion of the cryptocurrency revenue. This is another example of how both service providers and users can profit from using the same platform.

With the continuous development of blockchain technology, new domains and sectors will emerge with the same principles that this technology seeks to promote. When we see more companies that embrace community and cooperation, we should have a more productive economy that enhances collaboration. Centralized systems are not able to create an environment that supports honesty and cooperation, but blockchain could one day make these values ​​mainstream. In the end, it should remodel the entire economy and even challenge the structures of long-standing capitalism.