How Blockchain disrupt the industries & careers in it?
Block chain will disrupt most of the Industries
Block chain is one of the most promising new technologies for the future. It is a system of recording information
in a way that makes it difficult or impossible to change, hack, or cheat the system. A block chain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the
block chain. It makes data transparent, democratic, decentralized, efficient and secure. It is likely to disrupt many industries in the coming years:
1. Banking and Payments– The block chain will do to banking what the internet did to media. It can be used to give access to financial services to billions of people around the world. Eg. Bit coin allows anyone to send
money in the world.
2. Cyber security- Data is verified and secured using SHA- 256 cryptographic hash. This way it is less prone to get hacked without authorization.
3. Supply Chain Management– With block chain technology transactions can be documented in a permanent decentralized record, and monitored securely and transparently which can reduce time delays and human
mistakes. It would save time, cost, labor, etc.
4. Insurance – The global insurance market is based on trust management. Block chain is a new way of managing trust and can be used to verify many types of data in insurance contracts. Smart contracts can be used for this purpose.
5. Cloud storage – Data on a centralized server is inherently vulnerable to hacking, data loss and human error. Block chain allows cloud storage to be more secure and robust against attacks.
6. Charity – Problems in the charity include inefficiency and corruption which prevent money from reaching those who are meant to have it. Using Block chain technology to track donations can make sure that money is going to the right hands.
7. Voting- One of the most important areas of society that block chain will disrupt is Voting. It can be used for voter registration, identity verification and vote counting. Creating an immutable, publicly-viewable ledger of recorded votes would be massive step forward in making elections more fair and democratic.
8. Healthcare – Another industry which is right for disruption is healthcare. One of the challenges hospitals face is lack of secure platform to store and share sensitive data. Block chain technology can help hospitals to safely store medical records and share with authorized doctors or patients.
Any industry which deals with data and transactions is likely to get disrupted by block chain. The block chain space
is wide open and opportunities are available for anyone and everyone.
Prerequisites for starting any Block chain related course:
You can learn it from YouTube. A lot of tutorials are available on it.
2. Solidity- High level object oriented programming language for designing Smart Contracts.
3. Linux/Ubuntu- Having basic knowledge of Linux and Ubuntu commands.
List of courses to start with –
❖ Block chain
Specialization from University of Buffalo on Coursera (Recommended)
❖ Block chain Fundamentals from University of BerkeleyX on EDX
❖ Khan Academy Block chain from YouTube
Note – For educational purpose only
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