10 Amazing Ways Blockchain Will Change the World in 2022
The hottest technology of 2017, blockchain, has the potential to change the world in many ways over the next ten years. If you’re unfamiliar with blockchain and all its implications, here are 10 amazing ways blockchain will change the world in 2022.
1) Automated E-Transactions
The automatic settlement of e-transactions removes the need for middlemen like banks and clearinghouses. This saves companies time and money when processing transactions. Plus, it could eliminate fees as well, thereby making transactions free. Automated e-transactions also make hacking more difficult because every transaction would have to be hijacked on a per instance basis which is not feasible.
2) Professional Career Services
In an increasingly digital world, blockchain is likely to be one of the most transformative technologies since the internet. Rather than a distributed ledger, which establishes trust by creating an objective version of truth that everyone agrees on, a blockchain operates without needing central authority. Blockchains are also designed to be transparent, accurate and fast. This means we’re only scratching the surface of how blockchain will shape all industries over time – but it’s never too early to start planning for that future now! The implications for professional careers are huge. Managers will need to develop business acumen alongside technical skills; professionals across industries can leverage their unique competencies to provide valuable advice and services; professionals will have more opportunities to work remotely with talented colleagues around the world and not just their city or country.
3) Smart Cities
Imagine cities where you never need to bring your ID or credit card because all you need is a phone. Imagine a world where we don’t trade energy through large companies but through individuals who do what’s best for their community. Imagine the possibilities! Here are 10 awesome ways that blockchain will change the world in 2022. The top two things? Data Security and Micro-economies:
1) Smart Cities – Imagine cities where you never need to bring your ID or credit card because all you need is a phone. Imagine a world where we don’t trade energy through large companies but through individuals who do what’s best for their community. Imagine the possibilities!
2) Data Security – In today’s society, our data has become one of our most valuable assets.
4) Identity Management Systems
- With ID theft on the rise, blockchain has made it possible to develop solutions for effective identity management that can secure personal information. But to have a truly robust and foolproof system, more people will need to adopt and use these systems, which is what different companies are working towards. In turn, this will give everyone greater peace of mind when making purchases or interacting with businesses online.
- Aside from identity management solutions, one industry where blockchain is expected to make a big impact is banking.
5) Cyber Security Solutions
No matter what industry you’re in, there’s no denying that cyber security is a crucial issue for anyone running a company. Yes, cyber attacks have been around for a while now, but with increasing frequency and high-profile breaches at large companies like Equifax and Yahoo, it’s never been more important to invest in this area. There are many innovative blockchain solutions on the market today.
6) Real Estate Tracking and Ownership Tracking
What does blockchain offer? Individuals can create a permanent, immutable record of ownership for anything of value. With blockchain-powered tracking, people are able to keep a detailed and verifiable track of an item’s entire history from its source all the way to today. This means you’ll never need to worry about that old family heirloom getting stolen again—or if it is an antique from your personal collection, that it could be authentic or not. It also offers new opportunities for peer-to-peer transactions without the need for a middleman.
This can drastically change how we buy and sell homes! Currently, there are over 200 companies working on this technology to track property deeds and other legal documentation with blockchain. Blockchain tech may allow real estate contracts to be executed digitally with escrow payments made through cryptocurrency. Imagine being able to purchase or sell property without going through any brokers or lawyers!
7) Multi-Party Authorization Contracts
Contracts are a typical solution to transactional problems, however, making them requires expensive legal work and negotiating skills. With blockchain based contracts, all parties can sign off on one contract which would then be executed automatically once certain criteria have been met.
For example, Alice needs to transfer some assets from her account to Bob’s account; it may not seem necessary for an agreement between the two. However, if Bob wants to sell those assets to someone else without Alice’s permission, this smart contract will make sure that the funds stay locked until Alice gives approval.
In order for these agreements to execute automatically when certain conditions are met, there must be some sort of cryptocurrency associated with that smart contract.
8) Data Management, Analytics and Transforming
Blockchain technology has been touted as one of the next major technological breakthroughs. Businesses that are looking to future-proof their operations should invest in blockchain now.
Within just a few years, blockchain technologies could change supply chain management, payment processing, and digital asset management to a degree that’s still hard to comprehend. But what will it really look like? How can we identify specific opportunities where blockchain will bring value? And how can we determine if any of this is viable?
While there’s an obvious hype-cycle to any new technology, especially one so fundamentally disruptive and game-changing as blockchain, the coming explosion of innovation promises nothing short of a revolution for businesses across industries around the world.
9) Digital Asset Management and Supply Chain Management
Blockchain is a future technology that is showing potential to have a major impact on digital asset management, supply chain management, and more. Technology has been getting increasingly smarter with voice assistants and virtual reality making their way into people’s lives. In contrast, blockchain may seem like it’s still new and fringe. But experts predict that by 2022, it will be widespread enough to actually change some of the world’s fundamental industries: digital asset management, supply chain management, identity verification systems and more.
10) Incentivizing New Initiatives (Education, Healthcare, Energy, etc.)
Education is being transformed by blockchain. Online learning is still a form of education, but many schools are taking things a step further. They’re combining traditional schooling with practical, hands-on learning for students to develop a more well-rounded education and skillset. Blockchain ensures that all these transactions are safe and secure for everyone involved!
Likewise, healthcare providers may be able to store their medical records securely on the blockchain to ensure that they never get lost or stolen. This will also help them create better plans for patients who have chronic illnesses or need ongoing care. And energy providers can use blockchain to help move towards cleaner energy sources while avoiding negative impacts on the environment.
In 2022, there’s no telling what we’ll do with blockchain!