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Perhaps you know everything there is to know about blockchain technology.
Maybe you do not know anything.
In any case, in the near future the blockchain could change the way you do business in many ways, from the use of energy to the reservation of a
At the moment, if people think about blockchain probably thinks only of its connection with cryptocurrencies like Bitcoin, Ethereum and DigiByte. But blockchain technology is really what people should be enthusiastic about.
Blockchain was introduced in 2009 to serve as a database able to track and maintain large volumes of transactions in the world of cryptocurrencies. Once the data has been recorded, it can not be changed without the approval of the majority of participants in the network.
This process presumably creates an anti-fraud system and essentially authenticates the information exchanged. That's why it has the potential to be used in many ways, such as:
Government services and economic development. Any community that wonders how they can make the most of the blockchain could give advice to Zug, in Switzerland. The city of 30,000 has become a leader in accepting cryptocurrency and encouraging blockchain startups to call Zug home.
Two years ago, Zug became the first place in the world to accept cryptocurrencies for some public services, and residents can get blockchain-based digital identities.
Energy. Solar energy and blockchain are not the strange bedfellows you could imagine. A New York City project called Brooklyn Microgrid has created a blockchain-based peer-to-peer energy exchange system. Essentially, neighbors buy energy from their neighbor's solar panels, allowing them to bypass public utility companies. Blockchain technology validates and records transactions.
Tourism. The tourism industry could be upset in several ways, as the blockchain begins to allow travelers to take greater control over the entire travel schedule. Dubai, for example, in an attempt to become a completely blockchain city, is taking steps to become a leader in blockchain tourism.
Dubai Tourism recently announced a blockchain-enabled market to connect potential customers directly to hotels and tour operators. [19659002] Financial services. Banks and financial institutions may become redundant as more people begin to use blockchain technology to send digital assets securely. From the customer's point of view, this could mean the end of excessive interest rates and broker fees, as people make transactions directly. People may not need banks for things like making loans or providing credit.
Business owners do not have to worry about incorporating blockchain platforms right away. But they need to be aware of what is happening out there to be prepared for how technology could change their business in the future.
Andi Simon is the author of "On the Brink: a new goal to bring your business to new heights." She is founder and CEO of Simon Associates Management Consultants. SimonAssociates.net.
