The future is here: the three industries that the blockchain is changing right now
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a Blockchain — a new spectrum paradigm and technology with huge potential. The company began to actively implement a distributed registry in 2017. Since then, it has become clear that the block chain is able to make a revolution in many branches of national and world economy from heavy industries to logistics and retail. Talk about the three segments in which changes are inevitable and right now.
theInsurance
Insurance industry — a real chaos. Every year companies spend on advertising and lobbying hundreds of millions of dollars received in the form of insurance premiums from customers. A vivid example of one of the largest U.S. companies Geiko in 2016 has spent $ 1.3 billion only on advertising in the United States. In a perfect world, 100 percent of customer funds are used to pay for insurance claims, and financial institutions are accountable for the costs.
to Approach this ideal will allow blockchain. Technology will help to create a decentralized insurance pools in which the participants will decide how to spend the money for maximum benefit and to avoid misuse and reinvestment.
Now insurance companies focus on maximizing profits from the borrowing and investments of clients ' capital and not payments on insurance cases. The technology of distributed registry will allow you to create a user community that will contribute independently to spend money when the insured event occurs.
this business model works startup Tides. Users of the service have access to mechanisms of self-organization, the so-called pools that collect money and distribute them at the request of the insured. In this peer-to-peer network model all the basic functions of the insurance company is decentralized. In other words, risk assessment, claims handling and underwriting deals with network employees, and not one specific person. With this approach, premiums are paid for clear rules, no hidden conditions and special cases that are usually written in the insurance contracts in small print.
theMedicine
Other industry that will change the blockchain pharmaceuticals. Now this market has significantly monopolized: corporations invest in research or obtain a patent on new drugs, and then set the price on them based on the desire to maximize profit from the sales. Often these drugs have no analogues, and people are forced to spend huge sums of money to buy necessary medicines.
a Striking example — the story of an American businessman Martin Shkreli, who bought the rights to produce the necessary for the treatment of HIV infection drug Daraprim, and then raised the price by 500 percent. The behavior of the businessman is no exception, it clearly reflects the mood of the industry.
the Alternative to the monopoly of pharmaceutical corporations — decentralized Autonomous organization (DAO). With their help, users can generate investment funds and to decide on the support activities of universities and research groups that are engaged in the production and testing of new drugs. The results of these studies are published in the blockchain, have access to all interested parties. This type of crowdfunding allows you to exclude from the market monopoly and create competition in the production of drugs can go from a few companies and the price of them will not grow.
thefinances
Bitcoin is designed as a tool for reforming the current financial system and protection of users ' funds. Given the high inflation and total control of money flows by banks and regulators, not surprisingly, the coin has become so popular. Grows and Ripple: now our partners are 100 financial institutions and a 97 percent reduction in maintenance costs of transactions and accounts is so great that it is difficult for banks to ignore this opportunity. Most of the largest financial organizations have already introduced the technology of the blockchain, or are seriously thinking about it.
But a far greater potential of cryptocurrencies is to stimulate the so-called non-Bank people, i.e. those who have no credit card or account, to use the services of financial institutions. CryptoStream create services peer-to-peer lending and money transfers for people who previously had no access to such services. In the near future the financial instruments will cease to depend on banks, and such changes will contribute to attracting Finance for new users.
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