In Professor Klaus Schwab’s book “The Fourth Industrial Revolution,” the keyword blockchain is mentioned as the future engineering technology of mankind. There is no denying the great potential of blockchain, as countless statements about the future of this technology have been made. According to a forecast by research firm Gartner, the business value added by blockchain will increase to over $360 billion by 2026 and to more than $3.1 trillion by 2030. With current and future trends, blockchain is predicted to make a big revolution in the coming decades.
Here are some areas where blockchain will soon be implemented :
1. Cybersecurity
Data manipulation is a persistent issue for organizations today. As a result, one of the most promising sectors for blockchain growth is cybersecurity. Utilizing blockchain technology makes it possible to safeguard data, prevent manipulation, and give users the ability to confirm the validity of files.
2. Medical
Blockchain can be used to develop applications to manage patient data, control drug supply, automate medical examination and treatment transactions, and more. Particularly, issues with the manufacture and distribution of fake vaccines have been addressed. Because blockchain will be a useful tool for tracking vaccination distribution and confirming the legitimacy of vaccine supplies.
3. Banking
In 2021, El Salvador was one of the first countries to accept Bitcoin as a legal tender. Due to global inflation and rising costs of money transfers between financial intermediaries, many researchers think that developing countries are likely to accept cryptocurrencies soon. National cryptocurrencies are also a viable field for blockchain development trends. It is compatible with traditional currencies that are already in use. This currency enables users to conduct transactions independently of intermediaries.
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