Blockchain technology is a new technology that will save the human being. In the past few months, applications of blockchain have gone mainstream.
The blockchain community had promises to fundamentally impact many of the world’s most important and powerful sectors by soaring cryptocurrency prices.
It is poised to streamline marketplaces and industries but it also restores power back to the individual.
Many producers and manufacturer has already begun to experiment with this budding technology to solve many critical problems that have plagued peoples for many years.
In above, five most high potential ways is given that blockchain could impact society.
A healthier global environment
Now Purchasing eco-friendly products is a recent trend which across borders and social classes.
People simply care about whether their companies are using hazardous materials or treating their workers poorly.
Blockchain technology can help to illuminate the production of goods and bring an unprecedented level of transparency.
We can use this new tech to track the entire process for products ranging from clothes to household items.
Consumers will know exactly how the product was handled and what inputs are used and everything about the environmental impacts.
This tech will create a larger incentive for business to produce an environmentally friendly manner. Nowadays, companies can easily cover up details about their products because of opaque supply chains.
Once companies got information then they will focus to produce more sustainably. If they do not get proper information then they will receive negative press and sales will decrease.
This tech can empower a variety of changes towards a healthier environment and there will be better tracking and incentives.
These techs will also help countries to monitor pollution and use smart contracts to stay accountable for their levels of waste. Environmental related nonprofits could have to increase transparency in their spend.
Blockchain technology will show the average person are spending their money and then more of the money will go towards positive change.
Many governments from different country censor content by blocking certain website and apps. But blockchain can fix this problem and increase freedom for people.
A great example of a company working to solve this issue is Substratum. The substratum is an open-source network that allows people to share computing resources in order to make the internet access for all.
Nowadays the current political climate is oppressive governments are able to censor content for their citizens.
Due to this step freedom of speech and the ability to collectively rally in online communities is away from people.
In Iran, the government recently blocked many different websites in order to help squash protests.
Due to Substratum tech, most of these problems could be solved easily and it will take away oppressive control from governments and result in wider-spread democracy.
Digital identification in the blockchain could change many lives. About 1.5 billion people currently in the world from Asia and Africa cannot verify their identity.
Means about 20% of the world population cant verify their identity. The people who can’t have their identity then they have to struggle to receive basic rights.
It is very difficult for them to receive an education, to access health benefits, to vote and even financial services. It very difficult and big opportunity to help a significant segment of the population.
But blockchain can help by providing people with a digital identity that is verifiable and traceable. And due to this billion of people access for their basic rights.
Better tracking of taxes and assets
Tracking assets and taxes will create a more equitable world and development of the country is taking place.
Currently, many people not paid taxes and taxes are not collected in an efficient way. In fact, the entire taxation process is difficult to understand for the average consumer.
Audits also take many time and money from the government but with the help of blockchain, governments could easily track and receive taxes from all the people.
This new technology will make it infinitely more challenging to be a free rider in the economy and governments will end up with more revenue and the government will save more time.
Due to this process authorities will spend more money on public endeavors and commit greater resources towards important problems.
There more time, energy and money can spend on patient health records and tracking patients once they leave hospitals but blockchain can improve those processes.
Vital Health is already working on these solutions and they have two products that simplify this ecosystem.
The first product is ConnectingCare which is a platform to help facilities better track patients after they leave the hospital.
This product is helping to save money and better monitor patient well-being by using the blockchain to create a patient key event trail.
Vital Health also launched a new product which is known as Health Nexus that is handling data, payments, and storage.
More information about blockchain is available in tech news English with proper definition and example.
The idea for launching this new product is to allow the people to interact with sensitive medical data and individuals could sell their medical data to third parties.
This new product would allow for better research and give individuals the chance to deal with their personal medical information.
Some week before the challenges and time spent following HIPAA and taking care of electronic medical records could become automated with the help of blockchain and this will lead to better research, care, and will save more money.
This is the five ways that how Blockchain will help humanity and this shows that why technology is good and it is very useful for human being.