Blockchain technology has a far wider reach in terms of benefit than just through digital currencies. It can positively impact all sectors of our local, national and global economies, and that is where the real future of this technology lies.
In the September 11th Forbes article, Blockchain Cannot Solve All The World’s Problems, But It Sure Does Help With The Following, Andrew Arnold discusses the many sectors that are being positively impacted by blockchain technology including travel, supply chain, healthcare, insurance, and the freelance sector, making mention of our current blockchain project:
Removing the middleman in transactions: When contracts can occur directly between two individuals or companies/organizations, the potential for fraud goes down, not to mention the reduced costs. Take freelancers as an example. There are real trust issues on the part of both companies who hire them and the freelancers who do the work. They must rely on the “good faith” in one another or on the middleman who takes his fee. Companies like Moonlighting are now popping that provide a platform for freelancers and the companies/individuals who hire them. Freelancers have a single place to store their profiles; employers have a place to provide reviews and recommendations; blockchain integration allows for smart contracts and more rapid payments; and members of the public are jumping on the opportunity to invest in them.
Read the full article in Forbes.