Many people on Steemit all ready know what blockchain technology is and how it works. For those who don't know what blockchain is you can read up on it here. "A blockchain is a decentralized and distributed digital ledger that is used to record transactions across many computers". However this article is not about the inner workings of blockchain technology but rather its potential.
Blockchain technology has the potential to revolutionize the world. Currently it's well known for its crucial role in cryptocurrencies. Without blockchain cryptocurrencies wouldn't be possible. Blockchain has the potential to not only to change how we pay for things but it has the potential to change other parts of our life's.
Smart Property
Blockchain technology can maintain titles for cars and property. Just like how the blockchain is used to verify bitcoin transactions blockchain technology can also be used to verify and store the transferring of titles. This would make the process cheaper and more efficient/faster and prevent the loss of proof of ownership. A association trying to implement this can be found here.
Copyright Protection
The transferring of ownership using blockchain could also done in an digital marketplace. This would allow people to trade digital assets and even protect ownership of these assets. For example if someone were to create some kind of digital art the person's ownership of that art could be saved onto a digital marketplace blockchain. This would prevent people from claiming ownership of digital assets which aren't theirs. An example of a startup which could help do this is here.
Electricity Blockchain
Blockchain technology could allow people to take control of any extra electricity that they generate. Instead of selling the electricity to the a local power provider people would be able to sell electricity directly to people around them. A blockchain network could be built which automatically distributes electricity among people in a network. It would keep track of all the transactions that take place and it would automatically buy and sell to people on the network.
File Storage
Blockchain technology can allow you to store your files in the cloud but without having to put your trust into a single corporation. Essentially your files would be encrypted by being shredded into little pieces called shards and then spread across a decentralized network of computers. This would also allow nodes on the blockchain to be payed for the use of their storage space to store the shards of your files. It also keeps your files encrypted so only you have access to them. This type of blockchain has been created before and can be found here.
Identity
With blockchain technology internet users could be allowed to own their own digital identity. These digital identities are called Passcards and could be used in replace of the current usernames and passwords that we use currently online. This would allow users to not have to rely on corporations to keep track of their online identity for them. A startup that's trying to do this and create a decentralized internet which uses Passcards can be found here.
Voting
Blockchain technology could also affect politics. It could help make the voting process more transparent and even easier to do when combined with Passcards as described above. Overall it can help prevent potential corruption in the government and allow the voting process to be more transparent and efficient.
- Futurtopia#2 - Living forever?
- Futurtopia#1 - Neural Lace (How Society Will Change)
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Very nice Post! Thanks
What a great article, thanks for sharing it.
No thank you :)
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great article....upvoted and resteemed.....:)