Over the past few years, we’ve witnessed blockchain is moving toward mainstream use due to its ability to be a value creator for almost any field of business. Although the potential of the technology is essentially limitless, there are some key blockchain applications that, to our mind, are likely to dominate in the near future. Here they are.
Payments and Financial Services
Record-breaking statistics give us every reason to believe that in the next 5–10 years the technology will find the greatest application in the financial sector. We expect to see banks, stock exchanges and credit agencies race to harness the power of blockchain to address such issues as efficiency bottlenecks, transaction lag, fraud, and operation risks.
Healthcare
Considering the sector continues to suffer greatly from constant data breaches, inefficient practices and the rise of fake medicines, widespread adoption of blockchain technologies in healthcare is to be seen in the near future. Moreover, already today, the UK, Switzerland and Estonia are leaders in terms of applying blockchain in fighting counterfeit medicines and patient health data protection.
Logistics and Supply Chain
With growing requirements for accountability and transparency in the business world, supply chain management is going to be another area where blockchain will hold great promise.
The blockchain supply chain market is expected to grow at an annual rate of 80.2% from 2018 to 2025.
In addition to the mentioned ones, in the upcoming years we are going to see loads of other useful applications of blockchain technology like voting, insurance, real estate, ect.
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