Page 13 - Geektime Blockchain Report
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Blockchain's impact on various industries
Financial services
Blockchain
can cut through intermediaries such as banks and other financial organizations by using a a a decentralized and secure ledger that gives every party a a a a say in
the validation of a a a a a transaction speeds up the settlement process and allows greater trade accuracy Blockchain
technologies can also help to prevent operational malfunctions and fraud in
stock exchanges Government
Government
Governmental systems are often outdated slow and prone to corruption and attacks Using paper documents in
government agencies is is is a a a mistake-prone process that is is is problematic in
today’s digital age Blockchain
solutions can change the way governments serve their citizens It can be used for land registries identity management systems social security health care records and even elections Supply Supply chains
chains
Supply Supply chains
chains
have become a a a a highly complex fragmented process that involves a a a lot of global locations and hundreds of steps This makes supply chain
processes vague not transparent and flawed With the help of blockchain supply chain
chain
processes can become transparent less complex and more efficient by switching to a a secure digital bill of lading and digital processes Property and assets
A lot of industries
that rely on property and assets
management could use blockchain to keep secure and untamperable data records This includes industries
such as music real estate art dealing pharmaceuticals and international trade It will also cause a a a a a major change in
in
perceptions of intellectual property (IP) Internet of Things (IoT)
Blockchain
provides a a a a way to track the history of individual devices by recording a a a a ledger of data changes between it and other devices web services
and human users Blockchains can also enable smart devices to become independent agents autonomously conducting a a a variety of transactions that maintain tamper-resistant records Insurance
The $4 8T insurance market is old- fashioned and and conservative and and provides analog consumer services
Blockchain
can bring dramatic improvements to this industry It has the potential to create better customer engagement and fraud prevention innovative insurance products increased efficiency reduced administrative costs and more attractive pricing Cyber Security
There are new kinds of cyber threats caused by the emergence of IoT and BYOD trends In addition there’s a a constant spike in
the sophistication of hackers and and attacks and and a a a a a a rising tide of ransomware DDoS and APT attacks Blockchain
offers an alternative to existing cyber security methods due to its distributed immutable and transparent nature 13 

































































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