There is always a debate on how blockchain and cryptocurrency can help to transform the world economy. Honestly, digital money including digital currencies, in particular, has grown rapidly in the recent past. Paper money has taken the world economy to a certain stage beyond which the growth is not within the limits. But, the digital currency has that ability to go beyond paper money because the cryptocurrency business is now pursuing solutions that will eradicate almost all the inefficiencies of an industry that is doing business. But the question still remains if the blockchain technology can do any good for the common people or not. Yes, it surely can!
The change in the system
Up until the last decade, people only understood paper money and there was no scope for digital currencies to flourish. Now, with the introduction of Bitcoin Loophole Crypto App and various other trading applications, the scenario has changed completely. UNICEF came out with a novel idea to help thousands of children who were affected by the civil war in Syria by utilizing PC gamers. The concept was simple and effective. UNICEF approached PC gamers who had high-end graphics cards to use the spare capacity of the cards for mining Ethereum. This meant that whenever the gamer needed a break, they could turn the UNICEF program on and that enabled them to come up with the donations for the families.
It is not just UNICEF who is giving it back to the society. The World Food Programmer too has started to use blockchain technology so that they can successfully tackle hunger needs in financially backward areas with the building block scheme.
The scientific facts that prove the success of blockchains
Blockchain has found its way into companies that are dealing with patient safety. This has been a game changer because the companies are utilizing the system to store patient records. It has eliminated the chances of inefficiencies and inaccuracies. Previously, with so many geographical barriers, it became a tough job to handle paper-based documents. With the advent of blockchain technology, it has become easier to store the details of every patient and retrieve the information even if a patient is a thousand miles away.
Another reason why blockchain has gained so much importance is that it is involved in the latest cutting-edge scientific disciplines. Genomics is one area that will be indebted to blockchain because of its huge involvement. In fact, Macrogen, South Korea’s leading gene sequencing service provider, declared that they would develop their own blockchain based platform in accordance with a renowned tech firm. The main motive of creating the blockchain is to allow secure storage of personal information and private use while transferring sensitive genomic from one user to the other.
Andhra Pradesh has also brought up to speed the use of blockchain technology so that the state can provide better-personalized treatments to people. The state is home to 60 million people and it was important that the companies had a centralized blockchain technology. It has joined hands with Shivom, a reputed genomics company, that will allow the local users to sell their respective genetic information for research oriented purposes.
