Blockchain Development

Simplify It: Why Will Blockchain Make The World A Better Place?

It’s a real moment for people when they actually ‘get’ the blockchain concept. While helping an unfamiliar party to understand why blockchain tech will probably make their life considerably easier, it’s a truth that most people aren’t in the position to see themselves as someone who directly benefits from it.

If you’re trying to explain blockchain to someone who would care if they knew how much it stands to change their lives, it helps to have a few scenarios up your sleeve to help them grasp the concept of why this tech matters- and will continue to matter- so much to the modern age. Help yourself to these:

Receiving Money:

You’d think more people would be interested in who holds their money, why they almost always need to wait to receive it, and where it goes before it reaches them. Blockchain tech shaves the fleece back on banking, allowing users of a decentralised blockchain app to directly send money to and from each other, without banking institutions and their dreaded fees and waiting periods.

More accountability with insurance parties

Insurance companies being held to accountability where they should be? Anyone who has felt the sting of being given the run around in their time will love the idea of blockchain tech and the way it stands to make such companies earn their funding. Imagine the blockchain starting from the manufacturing point onwards through to ownership when buying a new vehicle, let’s say a motorbike in this instance. Example:

Block one: My purchase: all features about my new bike including warranty, rego, special features and manufacturers details make up the primary block.

Block two: My bike is insured, and all details of the insurance value and insurance body are recorded into block two. Included in this block are all the options and extras regarding the insurance conditions.

Block three: My bike gets knocked over by another moving vehicle and requires repair. I claim insurance for the repair, and this forms block three.

Block four: My personal details are removed from ownership of the bike when I elect to sell it in two years time. However, all previous records regarding the bike’s history of sale and servicing are retained by the new owner.

Direct payment to artists for music

It’s no secret that musicians took a direct financial hit when the internet made it possible to download their work without paying for it. The push to return rights to musicians has felt like an impossible feat in the past, that was until blockchain tech became the light at the end of the tunnel. Think about Spotify or iTunes, and all the places your money goes when you pay for the service it provides and now think of a blockchain tech service that prioritises putting money directly in the pocket of the artist you’re listening to. Cent for a cent, second for second. What you’ve listened to can’t be refuted once it’s recorded if you listened to it, the artist is guaranteed to be paid for the work they’ve done.

The blockchain enthusiast can try to persuade, cajole and manoeuvre their way into helping someone understand the tech, but it’s not enough to shout about decentralised apps at the top of your lungs, while the innocent party feigns interest. The truth is, we need to talk more about the problems blockchain is going to solve, rather than the technical way that might happen. Do you need more help?

If you want to learn more about Blockchain technology, we can help. Talk to the team at One Stop Blockchain about how this innovative and groundbreaking new tech stands to make life better for all of us. Contact us on 0172 4068 269 today.

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