Industries That Blockchain Will Radically Transform Government

Industries That Blockchain Will Radically Transform Government

25 Industries That Blockchain Will Radically Transform
The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money. Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry. Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Government

There is little need to make a case for the need

for decentralized systems in governance. In many parts of the world and, even in America which has long been held as the gold standard for democracy, voting power is manipulated and contorted to favor parties or even certain individuals. Nowhere is the principle of “one individual, one vote” more desired than in political voting systems, where the future of nations and the whole world is shaped.

Democracy Earth has created a peer-to-peer governance protocol for organizations. Budgeting takes place with bitcoins and smart contracts, and only you, the voter, have access to your voter information. Those in power will be held more accountable for their actions through the transparent nature of blockchain ledgers.

Horizon State is oriented towards actual voting for the purposes of governance. The platform allows for immediate recognition of votes at a fraction of the cost of traditional voting systems. The tokens of the platform are used as the ‘gas’ for voting and other services, which includes funding for campaigns.   

Boule is another voting platform that is similar to Democracy Earth and Horizon State in its basic purpose.

Chuck Reynolds


Marketing Dept
Contributor

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