Blockchain Technology Demystified
Dataversity, March 16th, 2023
Prepare for blockchain technology to play a significant role in business, society, and almost everything. While 45% of CIOs said their organizations had yet to invest in blockchain between 2016 to 2021, that will change as information exchange becomes decentralized and demonstrated use cases show blockchain's success.
Blockchain spans various industries, from real estate, insurance, health care, and education to data management. Even localities like Utah and South Korea plan on exploring blockchain technology for voting. Known for its cybersecurity benefits and cryptocurrency, blockchain promises operational efficiency and time-saving.
Anyone who has moved across the country (or to another country) understands inefficiency and slowness. For example, moving from the east to the west coast of the United States requires setting up a forwarding address, opening bank accounts, setting up electricity, finding a new doctor, acquiring a driver's license from your new state, and much more.