The Industries Blockchain will disrupt in almost no time : Part 2
Reading this page first time ? No problem.Check out our first part so that you don’t miss out on anything. Part 1
Real Estate Industry
When it comes to the Real Estate, a $217 trillion industry, many just cannot find a potential link between Blockchain and Real Estate. Guess what? It’s as strong as it can get. Many even cite the infrastructure industry as the next one to be disrupted by Blockchain.
So, what’s the connection?
First, there’s not a single connection, there are many.
It’s no secret that fraudulency and real estate go hand in hand. Tons of documents, paperwork, agreements, laws…these all create many pain points and fraudsters are pretty good at exploiting them. As Blockchain allows you to keep track of every transaction – every record, many of these “pain points” can be treated greatly. And that is exactly what most of the Blockchain startups in this domain have been doing.
Another great thing that can be expected – or at least hoped – is the elimination of the middlemen. Why do middlemen exist? That’s because they have the information that most of us don’t. With Blockchain in place, this monopoly over information is set to be abolished.
Isn’t it just great?
If you’ve ever been on the internet (how else would you be reading this?), you must have heard of the term ‘crowdfunding.’ It’s a great platform for entities such as startups, students, NGOs, etc. However, there’s one serious pitfall. All crowdfunding platforms ask for fees that are generally pretty high. In layman’s terms, they’re the ‘middlemen.’
The blockchain is likely to kick these middlemen out of the park and bring harmony to the crowdfunding space.
Cloud Storage Industry
There’s a big debate surrounding the impact of Blockchain in the cloud storage domain. Some are pretty optimistic, while others are assessing potential disasters. To hell with this debate, the change is already happening and it’s fascinating, absolutely fascinating.
What Blockchain does in most of the domains is that it cuts out the middlemen. Here, that’s again going to be the case. Many enterprises need to store their data in the cloud. Let’s be honest, there aren’t many options, are there? Well, there are – millions of them.
Two companies named ‘Storj’ and ‘Sia’ are changing the rules of the game that is Cloud Storage. Unlike storing the data on server farms, they store data on other users’ devices using Blockchain technology. Let’s understand this with a simple example.
Suppose you have a hard-drive of 2 TB space, but you don’t use 1 TB of them. You can rent it out. Yes, you read that right; you can rent out your extra space. And no, we’re not talking about your apartment. Now you must be thinking ‘How is the data secured?’ Well, Encryption is the answer.
No user in the world – including the “owner” of the space – can get access the data except the one whose data is. This is made possible by Blockchain and cryptography underneath it.
Talk about revolutions, here is one!
Do you know when some things look so tiny from far but as we get near to them, they are astoundingly gigantic? Well, Blockchain is one such thing. A few years back, it was just a dot. Now, it’s a sphere, maybe a big one. But wait till we get really close to it and it will look like a giant star that has come out of nowhere.
We’ll sign out with this legendary meme of Ned Stark: