In a very short period of time, blockchain technology has gone from an obscure background technology that somehow enables that Bitcoin thing to a game-changing distributed-ledger technology with the power to disrupt online transactions in all its forms.
Yes, it lets you manufacture your very own digital cryptocurrency, and much has been written about the ability of blockchain to flip the traditional banking and finance industry on its collective ear as plucky FinTech startups storm the gates, etc and so on. And certainly the coming era of tokenomics will rewrite at least some of the rules regarding financial services, one way or another.
But that’s just the start. Blockchain also has the potential to support supply chain management, digital identity systems, electronic voting, music streaming, IoT, real estate, wholesale settlements and much more.
However, because most people still associate blockchain with Bitcoin – or coins in general, mainly in the form of headline-grabbing ICOs – there’s relatively less awareness about just what the technology can do for different industries, or even how it works.
Which brings us to the epic infographic just below this introductory blurb.
The infographic – courtesy of BitFortune.net – gives you the layman’s version of how distributed-ledger technology works, the benefits of using it, and 16 concrete examples of how different organizations in different industries and verticals are using blockchain and benefiting from it. Also, keep scrolling for some handy stats and trends to watch as the blockchain saga unfolds.
Infographic originally posted at BitFortune.net