DAVAO

Masbad: Blockchain: Where next?

Wacky Tech

DREDGING through the many posts on Medium’s Technology feed, I come across this article by a Bangalore-based company about the year’s dominating tech trends. And from what I’ve read, there are things there that I agree on as well. Granted that over the last years, a lot have been invented, re-imagined, improved upon and whatever else can be done to make technology better. And all these were for the collective benefit of all of humanity.

Admittedly, there are many of these technologies that are still to be adopted on a bigger scale.

Top of the list here is Blockchain technology.

I won’t go into a discussion on what it is. There are a lot of reading materials available online for that. Again, what attracts me to this tech is its touted security. Once a transaction has been entered into it (since it’s a Distributed Ledger), there’s no editing such transaction. I think that’s why it’s most attractive to financial entities and why it’s used more in the same industry.

The exciting part here is that this can also be applied to other industries - entertainment, government transactions, data privacy, just to name a few.

Perhaps in ticketing services for concerts and such. Could blockchain tech eliminate scalpers for good?

How about in government transactions? Where can blockchain be utilized to make sure that any and all government transactions will be made secure, final and untamperable and traceable also.

Can blockchain tech be also used to protect our privacy and identity? How about implementing blockchain tech in the national ID system?

Blockchain is still young and is still being developed and improved; keeping that in mind, there’s no telling really where we’ll see it implemented next.


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