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How Blockchain is revolutionizing the digital world

  • May 22, 2022

Blockchain technology is the future digital era of the world. It will completely revolutionize the social, political, and economic systems in the upcoming years. But only the early adapters will thrive in the industry! 

Ten years ago, blockchain was just a small industry, now it is taking over the internet and completely revolutionizing it. 

Gone are the days of scams, pirated content, and third-party involved transactions, blockchain introduces you to an alternate universe (In the NFT world, it’s literally the Metaverse) where only digital exists. 

Blockchain success stories

Blockchain is considered to be a trusted environment for business ecosystems to thrive without any worries. There are so many success stories from various industries including Healthcare, Art, Culture, History, Real Estate, Tourism, Security, Supply Chain, Aerospace, and Energy. 

Chile’s Energy Department is using blockchain technology to track their financial and other data through Ethereum. The government will be able to hold people accountable for their actions through this technology. 

In the UK, BaaS or Blockchain-as-a-Service was launched by the government to regulate student loans and welfare payments, while Georgia established an official land registry on blockchain to trace corruption on land titles. 

These are some of the success stories of a blockchain. The technology is bringing more innovation and ideas on how anyone can incorporate it into their business or economic model. 

Top leading countries using blockchain technology

Currently, Japan, the U.S, South Korea, South Africa, Estonia, the United Kingdom, Switzerland, Lebanon, Singapore, and the Bahamas fall under the top 10 countries that are the early adopters of blockchain technology; with Japan being the first country to do so. 

In these countries, the economies are thriving and the job market is expanding for more individuals due to the welcoming of blockchain technology. 

The countries excluded from the top 10 are also trying their best to adapt blockchain to their economic systems; however, most of them are only interested in cryptocurrency. 

How Blockchain can revolutionizing the Pakistan Elections

As blockchain mainly stores permanent data in a digital ledger, this technology can easily be used for fair elections criteria. For many years, Pakistan Election Commission has received backlash for manipulating the vote count. Blockchain technology can solve this issue as it permanently feeds data that is almost impossible to hack or change. 

Blockchain-based voting not only fulfills Imran Khan’s vision for an electronic voting system but also treasures each vote while maintaining the voter’s anonymity and verified identity. 

The blockchain data can be accessible to all political parties and the public, making it an authentic and transparent electronic voting system to fairly elect the Prime Minister of Pakistan.

Future of Blockchain

Blockchain has a long way to go. Right now, every big company is trying to break into the blockchain world for a more thriving business. The investors are also putting up their funds into various startups that contribute to the development of blockchain technology.

A blockchain is also a great place for small startups and businesses to shine. Although big tech companies are slowly transferring to the blockchain, investors would be more drawn toward small startups.

In the near future, the demand for blockchain developers will also increase drastically. The whole world will completely run on the digital decentralized model. 

The future is bright, and only early adopters will see the trees of the seeds they sow now. 

About Author

Asif Hameed is an overseas Pakistani who has been living in Tokyo, Japan, for 25 years. He marked his recognition in the Japanese market as a prominent businessman and start-up investor and continues to grow his business in IT-related investments, Independent Writer and Blockchain projects worldwide. Knowing the essence of Blockchain and Crypto in today’s technological ers, he start NFTStudio24.com, One solution news platform for Blockchain and the NFT world.

His Ideology

“In my own life philosophy, I think that your goal in life is to make good things happen for the people in your world, those you love, those in your neighborhood, and those throughout the world,” then you are on the right track. It is my mission to assist you in transforming your ideas into successful realities.

Japan-based Pakistani block chain company NFTStudio24 is on a mission to educate Pakistanis about Cryptocurrency, NFTs, and Blockchain technology through its platform. 

 

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Article source: https://nation.com.pk/2022/05/22/how-blockchain-is-revolutionizing-the-digital-world/

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