Blockchain is Going to Affect Many Aspects of Our Lives

By Michael Kordvani of Fueled.com

So everyone’s talking about blockchain and Bitcoin. You’ve heard half a story, you don’t really know what it is, but you don’t think it’s anything to do with you. You’re just an ordinary person, you’re not the least bit interested in the latest technologies, you’re no businessman or entrepreneur looking to cash in on the latest online developments. So why would you care about blockchain?

Well you should, because I can promise you, blockchain technologies are going to enhance our lives. It’s going to make a difference in so many ways, probably in ways we haven’t yet even imagined. Right now, blockchain app developers are beavering away to come up with new and innovative ways to use these new technologies.

 

What are the benefits of blockchain for everyday people?

What a lot of people don’t realise, is that advances in blockchain technologies are going to trickle down to everyone who uses the Internet. These days, just about everyone is online, it’s pretty hard to get by without being connected in some way. It’s getting harder and harder to pay a bill, buy something or keep in touch with anyone without being online. So we’re all going to be impacted by the advances of blockchain technologies. But don’t worry, it’s going to be a good thing!

Much higher levels of security

One of the biggest assets of blockchain is the high level of security. The whole point of blockchain is that all data is encrypted and decentralised. This is a huge step forward with regards to security. The more we move our lives online, the more need there is to be kept safe. Whenever something new comes out, be it an online banking app or a new connected household appliance, you can be sure that there are criminals out there looking to exploit it. By using blockchain technology, security levels rise dramatically.

Speedier financial transactions

This high level of security obviously is good for all sorts of purposes, but it’s going to be especially important for highly confidential material such as medical records and financial transactions. If you ever make payments globally, you will certainly benefit, not just from an increased level of security, but also from an increase in speed. Blockchain transactions are fast because they are direct. This could be amazing news for businesses large and small.

Protection of your identity

Identity theft is big business. Fall foul of it, and you can end up in a huge mess. Blockchain can help to protect your identity with encryption. With the encryption of personal ID and personal records such as marriage certificates, the whole system of proving the legitimacy of an individual becomes easier and more reliable.

It’s early days but the future looks interesting

Blockchain technology is the new kid on the block at the moment, but for anyone who looks a little deeper into it, you’ll soon start to realise that this is one of the biggest online developments ever and it’s set to transform the world. It’s well worth keeping an eye on blockchain app development over the coming months and years – there’s set to be a revolution!