Steemit Crypto Academy Contest /s2w3- Blockchain in our lives by @ruthjoe
Hello steem friends
Its another amazing week of crypto academy Contest season 2 week 3. I am really enjoying every theme so far for the weeks. And this week's theme is not an exception as it portrays the impacts of Blockchain in our lives. The theme for this week is Blockchain in our lives. Seat back and read.
Blockchain as we know is the arrangements of information or data in a systematic block format, which gives maximum security, making it impossible to change or edit what has been saved.
Blockchain no doubt is changing everyday life for everyone one with it's positive impacts.
Aside the impact of Blockchain in the area of cryptocurrency and finance, Blockchain is changing everyday life in other areas and field take for instance in the area of politics, Blockchain is used to reduce the level of fraud experienced during elections,by tightening it's security and reduce the amount of money spent for the election.
Also in the field of hospitality and tourism, Blockchain has really been of help because it is been adopted to aid there services by creating a storage for their business contract which gives them the opportunity to interact one on one with their customers, removing the service of middle agents, taking a company known as TUI Group as a case study.
Generally, my opinion on Blockchain changing the lives has made jobs easy to do, minimizing cost, enabling savings, and enhancing profits. It is also making live more comfortable and less stressful.
I believe if blockchain is totally adopted in every sector of life will bring about a global revolution, seen the impacts it has already done in a short while.
Even though Blockchain has positive impact to our everyday life which are the advantages, it also has negative impacts too which are the disadvantages. Here I would tell you about them
- SECURITY
The adoption of Blockchain in our everyday life gives a level of security in the area of transactions and savings, as businesses are more secured than it use to be.
- SPEED
Blockchain in our everyday day life solves the Problem of delay giving speed instead. Companies, organizations and other agencies can have their transactions and services done faster. People do not need to wait or queue for a long time before been attended to.
- PERSONAL CONTROL
Blockchain is decentralized, therefore it gives us personal control of whatever we are doing on it be it transaction or service. No central body controls anything for us, we are solely in charge of what happens.
- SAVES COST
Alot of cost is saved in terms of finances as Blockchain is used in our everyday day life why? The services of middle persons are removed so we don't need to pay extra fees to them before we can carry out a service or transaction. We do it directly.
- TRANSPARENT
Blockchain technology gives a level of transparency, because it is open for all to see,nothing to hide. So this builds trust when people can see what is going on, and how things are done.
- INSUFFICIENT KNOWLEDGE
I believe this is one of the major disadvantages in adopting Blockchain in our daily lives. There are still organization, companies, agencies and even individuals who do don't have knowledge of this technology while some feel it can only be used for cryptocurrency alone. They do not know it can be adopted to aid there services for better productivity.
- IRREVERSIBLE NATURE
Blockchain technology is indeed an amazing technology where information, or data or whatsoever entered can not be edited,corrected changed or taking back. With this quality it has, there are still people who find it hard to accept and adopt this technology. I believe probably they feel its too risky for them.
- LOSS OF ACCOUNT WHEN KEYS ARE LOST
This is one of the advantages I know in adopting the use of Blockchain. When keys are lost there are no other way to get back the keys hence it leads to the loss of account, which means owner will lose access to his account.
It is amazing to know that Blockchain has a future. Blockchain has an amazing future as it has already been adopted by alot of organization and companies, providing solutions to their problems.
Blockchain technology came in to light when the first cryptocurrency was built on it. And ever since then other crypto's are coming up on Blockchain. Blockchain technology doesn't just end with cryptocurrency alone, it has gradually been adopted in other areas of life for increased productivity.
We will also see that in the future, that the issue of Blockchain taking so much energy before work is done is handled fully through the use of an algorithm known as proof of stake, although is already in use but we will experience a higher degree of it. We will also have a cleaner environment the method carbon offsetting will be used to erase any form of pollution. This will be like an upgrade in Blockchain technology.
Blockchain technology is impacting the world not just in the field of finance, we see Blockchain technology impacting the field of politics, business, real estate, health, and even law.
- POLITICS
We see Blockchain been used in the field of politics to produce voting platforms that are more secured than what we may have now. This has helped and Will help reduce stealing and destruction of ballot boxes.
- LAW
In the field of law, Blockchain been used for the authenticate documents like the document for tittle deeds and also to secure all evidence gotten for a particular case.
- REAL ESTATE
Blockchain in the field of real estate is used to reduce the stress people go through while looking for real estate properties to buy. It also used to provide concrete proof of ownership for a property, provide maximum security and increase their general sales.
- BUSINESS
In future, Blockchain technology will be used to find out counterfeit products and also for tracking of goods delivered or sold or bought. We have seen Blockchain technology increase the revenue gotten from business and helps them manage large scale production saving time.
So you see that the technology of Blockchain is really impacting the world with it's many benefits and soon it will become a house hold name.
My opinion about the implementation of Blockchain in the health sector is that Blockchain technology has had several positive impact so far to the sector.
There are alot of problems Blockchain technology has helped in taking care of in the health sector. And I believe there are still more positive impact yet to come with Blockchain technology in the health sector.
Blockchain technology is currently been used in the health sector to produce other products of Blockchain, an example of such is a product that helps keeps a an accurate trace of how a patient is doing even after they had visited and left the hospital. This gives the doctors and nurses an update of how their patience are progressing.
Blockchain in the field of health is making records stored easily accessed at any given time by both the patient and the medical personnels. The patient need not visit the hospital before such records are handed over.
The storage of data and records can now be done securely as against when damage or loss was experienced before Blockchain came on board.
Blockchain technology is of great help to those who market medical products keep a an account on of a total products used.
Even the pharmacist and those responsible for the production of drugs are not left out as it helps them radicate old expired drugs and identify fake drugs.
Generally, we see the health sector become more transparent with their records as they continue to use Blockchain technology. Trust is built in that field because of the adoption of Blockchain technology.
So far so good the implementation of Blockchain in the health sector is a positive one and as we keep progressing, I believe the health sector will experience more development, efficiency will be built and more lives will be saved.
The use of Blockchain technology has done alot and is still doing alot in our daily lives.
There are alot of sectors of lives that are seriously adopting it and there are some who have not, maybe because they lack it's knowledge of probably they feel it can only be used for crypto's alone. Which ever be the reason I see Blockchain in the future been adopted by so many works of live as so far it has brought positive impacts.
Thank you for reading.
Gosh! Every time I think I’ve read everything about blockchain then there is something new to read and learn aboout. 😊
Yes blockchain is making jobs easy but it is also taking jobs away of many. The circle of life!
Good luck for the contest 🤞🏻
I agree with you totally, especially the point where middle persons are eliminated. Well that is why we too as human need to become more creative, imagine technology at large is become diversified talk more of we human...
I appreciate your visit.
Thank you for your support
This is true actually but do you know one big disadvantage of blockchain? It will increase unemployment rate and also make many lose their jobs.
Yes you are right but what if people become more creative with their lives so as not to become unemployed when to the above I listed happens on a large scale?
Blockchain is fast becoming part of our everyday activities. I went through your post carefully and read the many benefit of blockchain. It has really made life easy. The earlier we embrace it,the better for us especially in a country like Nigeria. You have presented well dear,I wish you the very best in this contest.
Thank you my dear friend.
I wish that it would be adopted here in Nigeria especially in our political sphere, it will save us alot.
The advantages of crypto is much, like as you said, it is secured and it fast in transaction, no bank in between and everyone has control over his or her assel
So true ma..the technology of blocku is doing wonders, am glad am in this generation to witness it.
Thank you for your support
Yes and we all know how important security is especially when it comes to our finances
Very true. Nobody wants to suffer loss after working so hard to earn. Security is paramount that's why we have Blockchain.
Thank you for stopping by
I totally agree with you. Blockchain has completely changed the way we live and it's very comfortable. It is a beautiful technology
You have rightly said it. Blockchain has a lot of impact on the healthcare sector. Making it easy to take care of patients..
Dear @ebuahsang1
Am delighted you came around. I would like to see your entry too so I can as well see your opinion on Blockchain in our lives.
Blockchain in our everyday lives, hmmmm
The advantages of block chain goes a long way, and you have mentioned enough but I can just add the it is permissionless and helps to secure data, immutability is another advantage of blockchain, but with all this the greatest disadvantages of the blockchain is regulation, the fact that it has been regulated and not generally accepted as the traditional currency, in addition, the fact that when our key is lost it cannot be retrieved is a big disadvantage.
The adoption of block chain in the health sector is a good idea and I agree with the highlighted reasons, you have published well-organized and informative information about blockchain
best of luck
Thank you for your contributions.
Thank you for your compliments too.. Blockchain technology is making lives easy for us.
You are welcome
It brings accessibility of data stored more easily, Real-time records, and Data safety at every point of use. Most importantly, the efficiency and effectiveness of record-keeping are guaranteed while adopting blockchain technology. Thaks for sharing...
Thank you for the summary.
I appreciate your visit. Blockchain technology is transforming lives..
Blockchain technology is safe, secure and very easy to use. It’s future is bright and green., with just little review and modifications it will blow into every sector. In the health care sector, have you heard of Dentacoin? Patients are allowed to pay using this token after seeing a dentist close to them. Kudos.
Wow that's fantastic, when i did a research and I found out a token or coin has been created but I didn't know it name. Thank you so much for telling me now...