Blockchain promises to build trust between strangers. The blockchain technology can bring tremendous benefits to the industry. It eliminates the intervention of intermediaries, ensuring that the digital assets are stored, tracked and transacted properly. The digital assets can include financial instruments, money, government records, and art. These digital assets are a part of every sector that we encounter. Be it healthcare or entertainment, transparency is the most important key to assure smooth functioning in the industry. Blockchain technology aims to bring this image into reality.
What is Blockchain?
Block is a network which records transactions and assets on a business network.
These blocks are lined using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. In the easy-breezy language- A blockchain stores all the data securely and maintains a database that can be used by anyone with an internet connection. The database isn’t owned by banks, firms, and governments. The chances of faking documents, transactions and tampering with data become impossible with blockchain technology. Blockchain technology in industries leads to blockchain business opportunities. This increases the demand for certified professionals.
Every industry should be modified into Blockchain Industry. Let’s take a quick tour to know it’s importance in various sectors.
Healthcare
Blockchain technology in the health care sector has changed the whole scenario of the of the healthcare ecosystem. The blockchain technology has brought a change by speeding up transactions, ensuring the privacy and safety of health data. All this is achieved through the maintenance of secure electronic medical records. It can also track the supply of drugs and provide proof-of-existence for clinical trial data.
Manufacturing
With the introduction of Smart Contracts, the need for human interaction is eliminated. Reduction in transaction costs and an increase in transparency can be achieved through blockchain technology. It helps to replace mediators to provide accountability. One can track the materials and determine their arrival and check if they are transported to the next stage or not. Hence, revolutionizing the manufacturing mechanism.
Supply Chain Management
Blockchain Technology is the game changer for Supply Chain Management. There is greater scalability and better security in the blockchain industry. The technology helps- to record the quantity and number of assets, tracks purchase orders, determines the authenticity of a product, links goods to bar codes, and shares information about the delivery of the products with suppliers.
Entertainment
The Blockchain holds the potential to increase transparency. The scripts can be stored in a blockchain which can further include titles, transfer of rights and smart contracts. Blockchain technology tracks and organizes revenue streams for artists and their teams, warranting everyone connected has a passage to well-defined, actionable data and recurrent payments. Blockchain can help get every artist a fair share of profit by increasing accountability in financing.
Central Blockchain Council of America (CBCA) aims to provide reliability to the professionals. With the CBCA certification, get hired in the top companies using Blockchain technology. It can bring several opportunities for professionals who want to make it big in the blockchain industry. Its corporate partner program helps the business and non-business organizations create their own certification centers for talent, managers, and staffers.
The Blockchain technology is making its own space in the plethora of sectors. The benefits include- increase in jobs, increase in capital, eliminates middlemen and corruption, provides data security, yields high performance. As a result, every blockchain industry wants to hire certified blockchain professionals who have detailed knowledge of Blockchain.
The tech world is getting revolutionized with the amazing technology called blockchain. Let’s embrace it and shape the future.
