While the idea of a decentralized peer-to-peer network storing encrypted data has been around for almost half a century (it was primarily a theoretical solution to the notorious Byzantine Generals’ Problem), actually constructing a functioning blockchain was impossible until just a decade ago. And ever since our hardware reached a point it can successfully sustain a blockchain-based network, we’ve been fascinated by what such systems could do for us and our everyday life.
Blockchain technology allows us to develop digital environments within which you don’t have to trust anyone in order to make things work because of the simple fact – the data stored within can’t be changed or deleted.
Blockchain as we know it today was invented by Satoshi Nakamoto in 2008. The first one was created to serve as the public transaction ledger of the Bitcoin cryptocurrency.
While the mysterious Nakamoto’s initial blockchain already was a system that took care of data without the need of a trusted authority or central server looking over it, the fact that it was used as a framework to run a controversial novelty of the financial world threw a massive wrench into blockchain’s early status.
As a consequence, the blockchain disruption took a while to be put into motion, but now, in 2018, it seems like blockchain is ready to be implemented across various industries lining up with hopes of seeing great improvements.
As a transparent digital environment in which a piece of data is completely secure and immune to undesired change, blockchain obviously has a massive potential to disrupt just about any industry that relies on any form of digital data. And in this day and age, that’s pretty much all of them.
The infographic you’ll find below will show you how a total of 16 different industries, all of which are vital parts of our everyday life, will be massively enhanced by blockchain implementation.
As you’ll see for yourself, while many seem to associate blockchain disruption with the banking and financial sectors, the line of industries that could potentially be transformed by the blockchain technology does not end there. Far from it, in fact.