Issue: December 2022

Believe it or not, Blockchain technology will impact the world beyond cryptocurrency. Though introduced as a spinal cord of Crypto, blockchain technology is expanding its application. It is undoubtedly going to have an inevitable impact on our future. Here are some of the core domains that will change with Blockchain as the fuel:

  • Cybersecurity: Data encryption that forms a central pillar for cybersecurity is based on blockchain technology. Unauthorised changes and hacks leading to data leakage are not possible with blockchain technology at guard.
  • Banking and Payments: Digital money transfer featuring faster and safer money exchange is based on blockchain. May nationalised banks already use blockchain technology to initiate safer money exchanges and protect banking data.
  • Unified Communications: one of the most significant domains where blockchain usage has risen by leaps and bounds is the unified communications system. Blockchains are forming a backbone for safer and more reliable communication with automated calling, encrypted emails, and much more.

Though not much is discussed, blockchain technology is also greatly used in the biotech sector. Blockchain is practically everywhere, from modelling the cancer spread in the human body to contributing to the commercial biotechnology industry.