How Might Blockchain Technology Affect Your Life Now & In the Near Future?

How Might Blockchain Technology Affect Your Life Now & In the Near Future?Introduction:

Ever since Bitcoin’s advent of the blockchain to assist prevent double-spending of digital currency tokens (mainly BTC) & Ethereum which took the concept to subsequent level, by allowing companies to create decentralized applications on their platform with Smart Contracts, blockchain technology has exploded into nearly every industry. A blockchain is just a distributed public ledger, which takes a record of knowledge and shares it among many computers, which are all updated because the chain of data is updated, getting obviate the necessity of a centralized authorized controlling and distributing that very same data. this enables for transparency, also as another benefits, and has been at the forefront of FinTech (Financial Technology).

For most folks , blockchain has already affected our lives in a method or another, for even the essential resulting product: cryptocurrencies, has nearly turned the financial world on it’s head. Enabling peer-to-peer transfers useful without the necessity of a bank or other middleman, has produced both simplicity and chaos within the financial world. Even speculating on some cryptocurrencies has clothed to be a profitable venture for several , and a horrible experience for others.


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But blockchains have enabled far more than simply digital currencies. The technology is getting used for several applications, which we'll be discussing during this article, both for a few current and potential future uses.

Blockchains And You:
Now, for the sake of going to the really interesting stuff, for this text we shall refrain from listing new blockchain tokens that are seeking to enhance things like cryptocurrency transaction speeds, bandwidths, etc. (though there are many doing just that). we'll check out a couple of blockchain startups which are focussing on practical applications aside from acting as digital currencies.

1. Prediction markets.

Augur.net is one company which is combining blockchain technology and prediction markets to form highly accurate predictions on some future events… others not such a lot . Imagine having the ability to understand before time, the likely results of certain events well beforehand .

2. Swarm Intelligence.

Here’s a piece of writing by coindesk about how blockchains can help improve robotic swarms. this might potentially be very useful, but it’s also quite scary with other possible applications. On a brighter side (though not necessarily blockchain related), another company is functioning for swarm technology for humans. Unanimous A.I. may be a company trying to stay humans within the mixture of the synthetic Intelligence wave. They use a way called Swarm Intelligence, which is essentially taking “swarms” of individuals to tap into their collective intelligence. It creates ‘real time’ AI systems out of individuals . this will be used for predictions, but also for therefore far more , like learning together, solving problems, and making decisions. Very cool.

3. a replacement Decentralized Internet.


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There has been talk about how blockchains could create a replacement and decentralized internet. Many folks probably don’t believe it much, but the reality of the matter is that the web is centralized, and every country has control over what's and isn’t allowed for his or her citizens to look at . China for instance constantly props up the Communist Party and tries to cover criticisms and past horrors, like the Tiananmen Square massacre, whereas places like Indonesia have web blocks which may sometimes leave radical Islamist sites unblocked, while blocking things like gambling sites and other smaller matters (as well as blocking larger matters like terror alert websites, Christian support websites, and non secular discourse and informational websites which shouldn't be blocked). Meanwhile, in places like the US, tech monopolies like Google, Facebook, and Twitter, often put their users in bubbles, de-monetize conservative voices, and are said to push fake news stories to the highest of searches, while pushing legitimate sources and stories far down within the results so they’re harder to seek out if they don’t match with the favored dialogue being pushed, and even getting obviate certain search suggestions of political information they afflict . A decentralized internet could also be ready to help free us from these issues.
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4. Enhancing the web Of Things (IoT).

The Internet of Things (IoT) is that the concept of interconnected digital devices, having the ability to collectively process together. And not just desktops, laptops, smartphones, and tablets… but your refrigerator, your heater, your laundry machine, and maybe even your toaster, which on a private level could also do things like calculate their own running costs & purchase things they have to work . Proposals had been unclear about the way to utilize the web of Things, but it’s believed that however it's used, blockchains are going to be ready to greatly enhance it’s functionality in areas like security, trust, and lowering costs, etc.

5. Shared SuperComputer.

The blockchain project Golem has created a decentralized supercomputer, which shares bits of processing power from each participant’s device. this permits people to process larger files, renderings, computations, etc, during a faster time than they might by using their device alone.

6. Cloud Computing.

Dfinity describes itself as: “The way forward for cloud computing” and “an unbound, tamperproof, blockchain computer. It claims to be ready to “reduce enterprise IT system costs by 90% through reducing human capital needs” and “Power autonomous self-updating software systems that beat monopolistic intermediaries”. It goes on to explain many other things it'll be ready to do, but it’s enough to mention it enables a cloud-based supercomputer.

7. Smart Bonds.

Smart Bonds are new financial instruments. they will produce harmless interest rates & fully automated payment streams, essentially self-paying digital instruments. Blockgeeks.com, where we found this, also features a good list of other blockchain applications.

8. Space Stuff.

Aside from the very fact that companies like Virgin Galactic are now accepting blockchain-backed bitcoins as payments, blockchains themselves may very well have some practical uses in and about space also . Blockchains may play a task during a new space-based sharing economy. Blockchain technology could help form an area Bank for Space Money during a Space Economy. and that they may have another space applications also .

9. Personal Loans.

Loans require good credit scores, which are actually non-existent for several people round the world. Blockchain based companies, just like the GetLine Network (currently within the middle of launching) are helping to supply accurate credit scores and loans to many people that would otherwise not have access. Another blockchain-based company dealing in debts and assets is Othera.

10. land (Property).

Averspace and Popety are both Singapore based land companies. Averspace may be a P2P land startup whereas Popety may be a blockchain-based land listing website, which boasts of getting the foremost exhaustive property data base in Singapore, consistent with oddup.com (where you'll find many other Asian based blockchain companies).

11. Digital Gold.

A Malaysian based startup called DinarDirham (that’s us), has created digitized gold commodity assets (crypto assets or digitized commodities). Our DinarCoins are pegged to the gold cash price , and our Gold Smart Contracts are backed by specific sorts of gold bullion.

12. Advanced & Secure Digital Wallets.

Another Malaysian based startup, bcmy.io (Blockchains.my), is a complicated and secure, multi-asset, digital wallet app. It also features a host of features like P2P chat, a cryptocurrency-accepting merchant map, and therefore the choice to become such a merchant through the wallet, among other features. It also utilizes Debit Cards, NFC Smart Cards (Near Field Communication), and QR Codes.

BONUS:
Below are some names and links to other companies and knowledge which we believe you’ll also find very interesting. you'll view more awesome blockchain applications and corporations here, or within the list of links below.

Individuals:

–Digital Asset Holdings
–Bancor

Lists & Articles:
More Awesome Blockchain Companies

Blockchain and Fintech Are Growing In Asia

Asian Banks Looking Into Blockchain Tech

Singapore Is Shaping Up To Become The Blockchain Center Of the planet 

Different Ways Blockchains Can Help in several Industries

Asia’s Tuna Are Now On The Blockchain

Blockchain Is Transforming Asia

10 Blockchain Companies to observe In 2017

Conclusion:

Blockchain technology is constant to grow, with not much sign of slowing down (quite the opposite), and it's poised to soon play a neighborhood in many various areas of our lives, for the higher or the more severe

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