Blockchain serves as a ledger for transactions to be carried out across a highly-secure P2P network. Many people are starting to see the benefits of blockchain technology, including many of the world’s leading businesses such as McDonald’s, IBM, and British Airways.
The team at BitFortune has created an infographic detailing just how industries across the world are using blockchain to revolutionize the way that business is carried out including bitcoin for energy and blockchain for political voting.
In the world of real estate, blockchain is now being used as a way of signing contracts, keeping records, and even selling property. Manhattan Real Estate has been accepting bitcoin as a method of payment since 2014 whilst Lake Tahoe was sold for 2,739 bitcoins in 2014 – roughly the equivalent of $1.6M. In real estate, as well as other industries, blockchain can help prevent the risk of fraud and can also eliminate the need for third parties in many aspects of business.
The political landscape is also changing thanks to blockchain. In 2018, Sierra Leone became the first country to use blockchain to verify electronic voting. Russia is also testing the technology to protect the country’s presidential exit poll data.
Meanwhile, the energy industry is also starting to adopt blockchain. KEPCO recently announced plans for electric vehicle charging stations that will be created using blockchain technology as it promotes alternative energy solutions and improves transaction security. Another start-up, Solar Coin, is using bitcoin donations to help solve power shortage problems.
To find out how other industries are using blockchain to their advantage, take a read of BitFortune’s fantastic infographic below. The handy guide also goes into more detail about what blockchain is, who’s spearheading the technology, and how it will continue to grow in the next few years.
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