The Top Three Industries That Bitcoin Is Transforming

Bitcoin and the blockchain are the most important invention of the 21st century which will change the way that businesses run. Just like the internet, it will eat away at the present day models of organization till eventually there is nothing left. Companies will need to adapt to this new tech or there will not survive the future ahead. Jobs are going to be lost at record rates as greater automation take place thanks to ethereum smart contract networks. New solutions will need to be found to make it possible to provide a basic living wage due to the mass unemployed due to the technological revolution. Below are three of the top industries that are currently undergoing massive transformation due to the blockchain.

#1. Entertainment Industry

The entertainment industry was one of the sectors worst hit by the digital revolution thanks to the internet. The rise of streaming platforms destroyed the way that these types of companies make huge profits and they have had to adapt. One of the main problems faced by the industry is that the middleman takes too large a share of the profits leaving very little left over for the artists.

The blockchain and smart contracts are looking to solve this dilemma thanks to its ability to store and encrypt ownership records. Using smart contracts means it is now possible to cut the middleman out of the equation and payments can be made directly to the artist autonomously. There are many ICOs launching their own decentralize platforms that will solve problems such as compensation, distribution, digital rights, managing assets and more.

#2. Banking Industry

Bitcoin was created to bring down the banking sector that has been draining along with having an extremely damaging effect on the world population. It may not have taken off as a mainstream form of money but it has certainly distributed the sector by creating a new form of a secure asset class with direct ownership. All of the banking processes can be fully automated on the blockchain which cuts out the needs for bankers which can only be good news.

#3. Gambling Industry

Bitcoin and blockchain technology are perfectly suited to the gambling industry and due to that fact, it has been one of the leaders in its development. It solves the problem of providing completely transparent games that are 100% provably fair by using the blockchain. Not only this but it enables anonymous play, instant payouts and is accurate 100% of the time. Find a bitcoin casino list here of the best-rated platforms.

Conclusion

Blockchain technology and smart contracts are going to cut the middleman out of all businesses models. It will also automate all of the administration and regulatory processes which will greatly impact the jobs market. We are edging towards a society where no one will have to work, so hopefully, a solution is found to this or the consequences could be extremely damaging. One of the best things about cryptocurrencies is that it enables a solution to the problem it creates and it is possible to create national or international cryptocurrencies that give each citizen a basic living wage. Let’s hope that we go down that route as I personally do not fancy another world war 3 due to the banking systems collapse.

The post The Top Three Industries That Bitcoin Is Transforming appeared first on Bitcoin Garden.

Komentar

Posting Komentar

Postingan populer dari blog ini

Transformation of education in post-industrial society

Gambar
Education has always been an expensive privilege; and the education sector has always been one of the most conservative. People chose profession once in their life and did not change it until retirement. Usually education meant studying at a university; self-taught people were rare. However, in the post-industrial society changes in the shape, sense and affordability of education finally began. According to Alvin Toffler, a well-known US sociologist, the emergence of the post-industrial society is a consequence of the intellectual revolution. The possession of knowledge and information will replace financial capital as the biggest value. Development of innovations, empowered by the most educated, will become the most important sector of economy. It means that high-quality affordable education will become even more important than now. The last time when the global education experienced a serious transformation was at the very beginning of the 21st century when the wide access to the I...
Baca selengkapnya

Blockchain Supply Chain Forum will be held on January 10th in Hong Kong

Gambar
The concept of a blockchain – a distributed, tamper-proof and time-stamped database of transactions that can be managed without intermediaries – is highly attractive in the supply chain domain, and the industry has launched a number of proof-of-concept initiatives. However, awareness of how blockchains work and what they can accomplish for supply chain is still relatively low. The lack of knowledge is exacerbated by the fast pace at which the technology is evolving. A success Blockchain Supply Chain Forum was held on October 24th in Shanghai, professional blockchain organizer EventLinker and Global Supply Chain Council will organize the Blockchain Supply Chain Forum on January 10th in Hong Kong, it is the forum connecting blockchain experts, supply chain and logistics decision makers and tech innovators. This intimate gathering will explore how companies are investigating the use and deployment of the technology to help their supply chains in China. Organizer: EventLinker ...
Baca selengkapnya

After GDPR effect? In A Post Cookie World, Blockchain Is Rising

Gambar
The European General Data Protection Regulation (GDPR) was rolled out in May this year. It introduced far-reaching implications for companies which process personal data related to EU citizens. Even those far outside the EU could not fail to notice this change. Email inboxes were overflowing with opt-out reminders. Cookie banners now obscure many websites, forcing users to agree to a privacy policy so that they can browse the content on the site. Although the GDPR document itself clocks in at 88 pages, the majority of what it covers can be summed up in one word — consent. If companies are processing personal data, it must be done with the explicit, informed consent of the individual. For some forms of marketing, such as email subscriber lists, this involved minimal changes. Individuals already have to take the active step of providing their email addresses, and usually it is pretty clear why they are asked to do so. However, for the digital advertising industry, consent is far less ...
Baca selengkapnya