● Do you know how sectors like legal, healthcare, banking and others can benefit from the adoption of cryptocurrencies?

● Are you aware of how these industries and their consumers can benefit from better record keeping with Bitcoin and Blockchain?

● Have you tried investing in cryptocurrencies with experts advising on how it is the technology, which is going to change major industries?

While most literature around investments in crypto revolves around ICOs, gains, 10x returns and so on, we are going to look at some different aspects in this article. Like the internet and software revolution of the 1990s, the next major tech advancement going to hit the world in cryptocurrencies.

In this article, we are going to look at five industries, which can benefit the most from this adoption. However, before we list the industries, let us first look at some important areas, where the new tech (Bitcoin and Blockchain) can be highly advantageous.

Areas where Bitcoin and Blockchain can help the world

In the past few years, Blockchain technology and cryptocurrencies like Bitcoin are altering human lives. They are convenient, free from regulatory control and transparent. All these make them ripe candidates to be adopted by the different industries.

Some key areas are:

- In the field of maintaining proper transaction lists and record-keeping

- Creating a data bank which can help numerous entities

- Faster processing of messaging, transactions and other requisites

- Building greater trust, accountability and honesty in business relationships

- Lowering of fees, commissions and removing unwanted intermediaries

Many industries (which we will be listing in the next section) are deriving benefits. Industry leaders to are helping build efficient supply chain frameworks, which are helping end-consumers. The overall security is also acting as a great trust-building exercise.

List of Industries benefitting the most from Bitcoin and Blockchain adoption

1. The Healthcare Industry-

Maintaining patient records, collaborating on drug research and improving the supply chain of medicines and vaccines are areas where this technology can be groundbreaking. The present systems in place are not only slow but also highly inefficient in nature. Having a proper and streamlined channel powered by Blockchain technology is critical to overhaul this industry and make it easy, efficient and productive for both consumers and medical practitioners.

2. The Banking Industry-

Historically, the traditional banking and financial industry has not been beneficial for normal consumers. With high-interest rates, commission fees, transaction duties and unnecessary paperwork, the banking industry is in decline. In order to regain confidence and win the trust of consumers, it needs to adopt Bitcoin and Blockchain technology. According to this article from Cryptimi you can even get Bitcoin Loans. This will help in removing the intermediaries, bring down transaction fees and speed up the transaction processes.

3. The Legal Industry-

When it comes to the legal systems of the world, proving provenance, papers and genuine agreements is fifty percent of all legal issues. Imagine how Blockchain technology with its power to store, process and transmit genuine paperwork can be a boon for the legal and judicial industry. Sources, databases, and other requirements can be completely shifted to Blockchain to help in solving cases, arbitrating disputes and finding amicable solutions faster.

4. The Real Estate Industry-

If you have ever bought a house or rented one, you will know about the hundreds of documents required at every stage. You need paperwork from the existing owners, banks (if you take a loan), municipal bodies, and commissions and so on. However, if there was a single channel model for solving all these issues in lightning-fast times, it would boost how the industry works. Bitcoin and Blockchain have the power of making this industry far more productive.

5. The Digital Applications Industry-

The software and application industry (apps) can benefit massively from adopting Blockchain technology. This can help in easier global interactions with developers and lead to the development of newer digital products and services. Software companies in countries like India are already experimenting with this newer form of technology to help build great supply chain solutions for different clients in the FMCG, fashion and other industrial niches.

Conclusion

Many experts feel that the Blockchain and Bitcoin technology are one of the disruptive advancements of our times. For more information on how you can benefit from Bitcoin and Blockchain technology, please visit- aussie system trading app.

Can you think of some other industries, which can benefit from Bitcoin and Blockchain technology in the near future? Let us know in the comments section below.