Blockchain is Transforming Industries

While cryptocurrencies are dramatically rising in worth, it is the underlying technology that has the potential to disrupt virtually every industry. Blockchain is a secured record of transactions, where each entry is visible to all stakeholders, cannot be modified and is not housed on a central server.

86% of business leaders across industries are planning to use blockchain1

Blockchain provides:

Industries that may be transformed by blockchain include:

Cybersecurity

Potential for change:

How can cybersecurity companies keep user information secure with blockchain?

REMME authenticates with blockchain instead of passwords, which can be leveraged by 27 billion smart device users globally2

Obsidian Messenger protects instant messaging data, and their technology has the potential to secure the 1.82 billion mobile instant messaging app users3

Guardtime detects and prevents cyberattacks as they occur, including protecting the health records of the 1 million Estonia citizens4

Banking

Potential for change:

10% of the world’s gross domestic product is predicted to be stored on blockchain in the next decade5

90% of banking professionals are exploring the use of blockchain for payments6

$20 billion estimated cost savings in financial sector from blockchain implementation7

Health Care

Potential for change:

By 2018, approximately 90% of health care organizations plan to finance blockchain8 for:

Manufacturing and Supply Chain Management

Potential for change:

31% of manufacturing and supply chain leaders see blockchain as a competitive advantage9

5% increase in global GDP and 15% increase in trade resulting from blockchain reducing global supply chain barriers like administration and communication10

$100 million saved with blockchain by reducing dispute times from 40 to 10 days for suppliers and partners11

Created by MBA@UNC, the online MBA program from the University of North Carolina Kenan-Flagler Business School

Sources:


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