Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

5 Industries That Blockchain Will Likely Disrupt

Companies / BlockChain Apr 03, 2017 - 01:25 PM GMT

By: David_Galland

Companies

Today, around 80% of banks are developing their own blockchain technology.

In September 2016, Barclays carried out the world’s first trade transaction using blockchain. They cut a process that normally takes 7–10 days down to less than four hours.

IBM is working with the government of Dubai to develop smart contracts that can facilitate all trade that passes through its port. This is huge, given $344 billion worth of goods passed through the port in 2016. Dubai’s government said it plans to shift all transactions to blockchain by 2020.


Nasdaq is also in on the action.

The real value of blockchain is that it renders intermediaries obsolete. They make a living off being a third party that establishes “trust” between parties unknown to each other. Blockchain replaces these middlemen.

This is the reason the world’s biggest firms are investing in blockchain. They are trying to become the disruptor, not the disrupted.

Blockchain is a foundational technology like the Internet—a big system on top of which you can build applications.

To give you a better sense of the thing, here’s just a smattering of existing businesses that could find themselves on the wrong side of the proverbial ledger.

What Industries Could Blockchain Disrupt?

Financial Services

Banks are essentially secure storehouses and transfer hubs for money.

Blockchain’s secure, decentralized, and tamper-proof ledger addresses this function—at a fraction of the cost. A company called Thought Machine has already created a “blockchain bank.”

Clearinghouses and stock brokers are also in the firing line, for the same reason.

Voting

In future elections, votes could be cast through a blockchain. Blockchain’s audit trail would authenticate voters’ identity and keep track of votes while allowing anyone to verify no votes were altered.

This would make fraud virtually impossible and ensure there is no question of electoral foul play.

Music Streaming

Music streaming is great—well, maybe not for the musicians. It’s estimated that artists lose up to 86% of the proceeds from their music because of illegal downloading. Blockchain is making it possible for artists to earn royalties on their music without going through a record label.

Grammy-winning artist Imogen Heap has created a blockchain-based streaming platform called MYCELIA that is facilitating this.

Real Estate

When most people think of buying and selling property, they think copious amounts of paperwork, a long, drawn-out process, and high agent fees.

Using blockchain, anyone can manage, track, and transfer land titles and property deeds—no need for intermediaries. A firm called Ubitquity is providing this service right now.

Supply Chain Management

The transfer of goods requires a lot of middlemen. Middlemen take time, add costs, and every now and then, make mistakes. The creation of smart contracts means there is little need for these intermediaries.

Smart contracts basically function as a traceability system—recording, managing, and enforcing contracts in a secure and transparent manner. UK company Provenance, which facilitates “transparent and traceable” trade, has been one of the most successful blockchain-based companies so far.

The Next Tech Disruption Is Closer Than We Think

These uses are just scratching the surface of the many areas in which blockchain technology will upset apple carts.

With the world’s most successful companies pouring millions into blockchain, big breakthroughs are likely near. While it took more than 30 years for the Internet to transform the economy, today more than 50% of the world’s most valuable firms are Internet-driven.

Given the fast pace of technology, a blockchain-based economy could be closer than we think.

Speaking of tech disruptions, P2P lending is another industry that is quickly gaining momentum, especially among investors. It’s no surprise given that it has generated yields as high as 10% with low risk. Find out more about the ins and outs of this industry in our free special report, Welcome to the Bank of You.

Free Report Reveals: How to Join the P2P Lending Revolution and Earn Yields of as Much as 10.39%

The P2P lending technology is turning the traditional banking industry upside down. With almost no effort and risk, you can join the revolution in minutes and earn market-beating yields on high-grade P2P loans. Grab our free report, Welcome to the Bank of You, and learn everything you should know about P2P lending to get started. Click here to download.

David Galland
Managing Editor, The Passing Parade

http://www.garretgalland.com

Garret/Galland Research provides private investors and financial service professionals with original research on compelling investments uncovered by our team. Sign up for one or both of our free weekly e-letters. The Passing Parade offers fast-paced, entertaining, and always interesting observations on the global economy, markets, and more. Sign up now… it’s free!

© 2017 David Galland - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in