No One Is Talking About How Blockchain Could Disrupt These Three Industries
People have been speculated on the plethora of use cases for blockchain since this novel technology broke out into the scene years ago. You often hear about how blockchain technology will impact the financial services industry, supply chain management, and governance. But there are so many other industries that will highly benefit from its application – even if no one is talking about them yet. Let’s take a look at three industries that could be disrupted by blockchain technology.
How could Blockchain disrupt energy
We are entering a new dawn in energy technology as individuals become more and more educated on climate change and its implications for the future of the planet. Along with greater awareness, the solar energy industry has made huge leaps in making solar panels more accessible and affordable than ever. In fact, solar panel installation has fallen by several thousand dollars over the last five years, which is why so many homeowners are opting for this renewable energy source. And oftentimes, solar panels generate excess energy which can be stored. But what if you wanted to trade this excess electricity? With blockchain technology, you can sell electricity directly to others in the most transparent way possible, without the need for an intermediary. Just as peer-to-peer lending, ride-sharing, and Airbnb, the peer-to-peer solar energy trading industry is set to increase in the future because of blockchain technology. Perth, Australia-based Power Ledger is already using the blockchain to facilitate the commodity trading of renewable electricity generated from rooftop solar panels, as well as energy stored in batteries.
Industries Blockchain will disrupt: Education
As we forge ahead into the future, it is not uncommon to see individuals making huge career changes. With the boom of online education platforms, practically anyone can find a way to re-train and get the education they need or want. While this is incredibly positive, it also means that it could be more difficult to determine whether or not an individual actually has the education credentials that they claim to have. Oftentimes, candidates lie on their resume about their educational background. Given that hiring managers are usually very busy, they do not bother to go back and verify all their candidates’ education credentials. Once again, blockchain technology can come to the rescue to combat the potential of companies hiring individuals with false credentials. Student records are mostly documented via paper, which is very inefficient. Deploying a blockchain in the education sector could help speed the verification process. For example, Sony Global Education and IBM teamed up to develop an educational platform which utilizes blockchain to secure and share records of students. Another company, Learning Machine, is working with MIT Media Lab to launch an open source tool to record academic credentials on the blockchain.
Blockchain disruption in transport
As cities continue to expand and develop, so will their public transportation systems. Although public transportation are the single most important component of cities, they are often chock full of pain points for commuters. Whether it be lateness, overcrowdedness, or simply high cost, solving its issues is no simple task. But with the use of blockchain technology, cities could gather valuable data that will help them make better decisions when it comes to their public transportation system. A blockchain could also be utilized to store and share information on the journey experience such as whether or not a train was late or crowded. England-based DOVU is one such platform that allows users to earn tokens for sharing information about their commutes, which will in turn help to improve transportation systems. Mobility companies can also get a closer look into their customers’ experiences to help create a smarter public transportation system.
These are just a few potential use cases among hundreds of others. Blockchain technology will revolutionize everything we do. Want to learn how you could implement this incredible technology to streamline your business? Learn more at blockchaincollective.io.