How blockchain disruption will affect industries and your portfolio

  • Exponential disruption
  • Blockchain across industries

Here’s how Blockchain will affect other industries

  • Healthcare: Doctors, clinicians, and facilities can have better access to health records without location being a problem.
  • Transportation: The immutable nature of a platform that tracks time, date, and condition romoves delivery charges for things like delays and damaged products.
  • Retail and manufacturing: Companies can track the provenance of products, responding to consumer demand for greater transparency.
  • Oil and gas: The clear proof of origin eliminates concerns related to the black market and other suspicious sources.
  • Finance: Consensus across members enables them to create an identity management system to support Know Your Customer (KYC) and compliance procedures.
  • Government: Cities and municipalities can streamline and improve the permitting process for any of the activities.
  • IBM and SecureKey have partnered to develop a digital identity and attribute sharing network based on IBM Blockchain.
  • The Sovrin Foundation develops self-sovereign identity (SSI), a scalable, privacy-protected, auditable, and open identity system.
  • Microsoft, Accenture, and some others launched the Decentralized Identity Foundation that develops a system for reliable identity on the internet.
  • Microsoft and 13 other partners are improving visibility and traceability across industry supply chains.
  • Backed by several credit unions, CULedger is working to solve the issue of identity management, information exchange, and transaction speed.
  • Amazon, IBM, Microsoft, and SAP have also anoounced their foot into Blockchain.
  • Remittances and blockchain technology
  • How Blockchain may Transform the Financial Services Industry
  • Benefits of Blockchain in Financial Services
  • Improving transparency. Blockchain may help the financial industry be more transparent since users are performing activities on a public ledger. This transparency can expose inefficiencies like fraud, leading to problem-solving that may reduce the risk for financial institutions.
  • Adding security. As consumers become increasingly active online, the digital universe is a breeding ground for online scammers. With blockchain technology, this concern potentially could be reduced. Payments and money transfers made on the Blockchain are faster and more traceable than in traditional banking, potentially lessening that.
  • Lowering costs. As investors move away from financial advisors to avoid higher fees, Blockchain provides an opportunity for consumers to benefit from lower costs associated with traditional financial services.
  • Risks that Blockchain and Financial Institutions Face

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