What Makes Blockchain Technology an Industry Disruptor? (Infographic)

It was in 2009 when Bitcoin was born, the first bona fide crypto coin. It was made by the anonymous entity under the pseudonym Satoshi Nakamoto, and it soon began to gain significant traction in the financial sector. It eventually grew into the household name and inspired thousands of cryptocurrencies (altcoins).

Bitcoin operates on a unique system. It’s a purely peer-to-peer transfer system that does away with any kind of central authority. All data on its platform is stored on equally distributed and interconnected blocks of data, all chained to one another.

Due to this visual representation of how it works, the system was named blockchain. It allowed for a unique take on data storage and protection, one where control is spread out evenly among its members, and every important piece of information is incorruptible and readily visible to all participants.

Blockchain provides alternative protection of data never seen before. And it wasn’t long until people caught on to just how useful it was outside of cryptocurrency.

How we store, secure, and share data has become more important to society than ever – it’s not called the informational age without reason, after all. And a safe, fair, transparent method of record keeping and information exchange can find use in virtually any industry.

That’s one of the reasons why blockchain technology is taking the world by storm, disrupting industries wherever it lands. It causes sweeping changes in the industries where it is implemented, bringing positive results.

So it makes sense that we see blockchain being integrated into a vast array of industries worldwide. From the very top of government institutions to banks and hospitals, all the way down to taxi services and the way we shop – blockchain can be utilized to improve all of these aspects of our daily lives.

If you’re interested in seeing exactly how blockchain is currently disrupting industries, as well as the effects of this takeover, read this wonderful infographic. If you aren’t convinced of the impact blockchain is making, this graph will surely convince you otherwise – the proof is in the numbers, and it has them in spades.

Originally posted at: https://bitfortune.net/blockchain-disruptions-infographic




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