The World of Conveniences Provided by Blockchain
With blockchain technology, which has entered our lives with digital money and different digital applications, it has become possible to track and trade all kinds of assets and values. At this point, blockchain technology is a technology that provides individual users with control over digital identity and allows it to be used not only in the crypto money sector but also in many different areas such as data storage and management at this point.
The opportunity it provides to digital identity makes it the key to the economy of trust. In this respect, Blockchain is limited to the financial sector, but the opportunity offered by digital technology is also turned into a chance by businesses. In this respect, it is claimed that blockchain technology is at the center of the revolution. Blockchain technology brings a different perspective to using data that we can easily create, update and even delete in the digital world. However, along with the positive aspects of Blockchain, it also carries some vulnerabilities. Blockchain, which uses complex algorithms to maintain data security, uses more energy in computing systems. It works slower than other network structures. However, if vulnerabilities are eliminated, it continues to stand out as a structure that can lead to radical changes in many areas, together with blockchain technology, artificial intelligence, and the internet of things.
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In this direction, if we look at some of the possibilities provided by the Blockchain;
Reducing Health Care Costs
Thanks to the developments in the effects of Blockchain on reducing health costs, it allows taking a big step towards changing the country’s health system by directing patients coming for treatment away from hospitals and clinics to cheaper and more convenient home care. In this case, it seems that it will save insurance companies billions of dollars. This move underlines the industry’s need for cost reduction. Furthermore, it opens the door for implementing cost–cutting measures such as real-time video between the patient and remote healthcare professionals.
Ensuring Environmental Sustainability
In today’s era, where we are seriously polluting the world and destroying resources irreversibly, the increasing number of solutions for this and the emergence of new solutions on the plan has become an inevitable end. Examples of these environmental problems are;
- Clean Air
- Climate change
- Natural disasters
- Access to clean water
- Decreased natural diversity
At this point, Blockchain–based systems can provide significant improvements in these areas. For example, it can facilitate the transition to cleaner and more efficient decentralized systems, enable person–to–person trade of resources or licenses, adopt the supply chain management principle, create financial models to evaluate environmental results and create natural capital values.
Improving Access to Information and Streamlining Business Processes Among Partners
In today’s world, the impact of blockchain technology seems to be more significant and more permanent. For this reason, many companies are already competing for existing in the new ecosystem that Blockchain will replace. The common goal of all of them is to be known as the pioneer of this technology, which is a candidate to change the world to benefit from it.
At this point, every sector company seeks to organize the communication and business structuring processes that will develop among the partners in line with this purpose and provide easy access to information for everyone.
In this respect, many critical factors driving the growth of Blockchain in the manufacturing market include blockchain service solutions for companies, transparency, reliability, the democratization of access to information. Undoubtedly, it is essential to re–establish the mutual trust mechanism, which is considered one of the most outstanding features of Blockchain, and to simplify business processes by eliminating intermediaries.
At this point, the advantages of this technology to users seem to be far ahead of its disadvantages. In addition to the critical benefits provided by the system; It can be shown that there is no need for intermediaries to verify and finalize transactions, the transaction processes of blockchain systems are fast, and their costs are much lower than other systems, at the same time, the transparency and security are high, and the operational process is more straightforward. So who benefits from this technology and how much?
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Graphic [1]: https://mms.businesswire.com/media/20181205005078/en/693808/22/1.jpg
Graphic [2]: https://www.healthcareitnews.com/sites/default/files/u2556/Screen%20Shot%202018-12-03%20at%2010.31.59%20AM.png
