That’s right. You probably never thought in a million years that your life would actually be affected by Blockchain… but let’s fast forward to 10 years when our cities could look a little like this:
Cryptocurrencies → Changing Your Life?!
In a decade blockchain, the underlying technology for cryptocurrencies, will be part of every transaction you do in your life. Basically, completely disrupting the way we have been doing things since ancient history. That’s crazy. Blockchain technology and bitcoin are promising a lot. Promising the world in fact. Let’s step into the blockchain world of tomorrow and see what it will look like.
Government = giving out identities
Let’s say you just immigrated to a new country. In today’s world you would have to go through a lengthy process and paperwork to get your passport and documents. Even after you get them there’s a chance that any of the online form of identification can be manipulated/tampered with. But in this new world the governments will give out identities. Birth certificates, passports, driver’s licenses, all these forms of identification are provided to you by your government. This will be very critical because this will be the only “tamper proof” system we will have to tell one human being from another.
This will enable anyone to have their own blockchain identity. Only one per person, no issues and allowing every person with one access to all the services. It’s simple, the network is replacing any reliance on trust and is replacing it with a reliance on mathematical protocols and economic incentives that keep people active and honest.
People who don’t have a basic income or are poor are living an unsustainable life. Debt is rising through the roof and the division between the rich and poor is growing larger. Our current system is just unsustainable and will the cause of a lot of issues in the future. We can use the concept of universal basic income which means that if you have a basic income and don’t have to worry about surviving, you can do whatever you are interested in to solve this. We can envision this working with a your blockchain ID, you can use a basic income app that is pre-installed on every phone. This would mean that if you do identify yourself as one unique person you’d automatically be able to get basic income every month. This could possibly become the fairest system for everyone to join in on the global economy.
The new way to do Transactions
Also imagine the way you do money transactions to be completely done by cryptocurrencies. Most of today’s cryptocurrencies is unfairly distributed. For example, Bitcoin has 10% of the coins in the hands of Satoshi, the creator of the coin. But imagine a new currency evenly distributed to everyone in the world. This could be done through the same blockchain ID example I talked about above.
Healthcare data = secure
Then, when you need to go to the doctor, all your medical records will be stored on a blockchain. You can grant access to hospitals, insurers, or your doctor the required information. The information requirements would only be shared with each of the requesters, so only the necessary information is shared. All your information would be easily available to you by an app which can be almost life changing because there would be no delay. All this data and research can also be crowdsourced into one place and used to expand medical research on an exponential scale.
Voting = Fair and Accurate
Voting is really important because it determines the future of the country you live in and most importantly the way you live your life. In this day and age it’s actually incredibly easy to tamper with voting data. Not only that, but having the right to speak on matters of global importance is a really important step in globalizing world. In this future we can create more safe, and transparent elections by creating voting polls on a decentralized platform using Blockchain. Citizens would be able to vote on important local issues, country wide issues, and have the write to voice their opinions on International issues.
New and Improved Education System
This can also disrupt our education system. Traditionally, students have relied on educational institutions to manage data about their learning achievements. Imagine if all of that was just stored on a Blockchain instead and you could do all of your work, and store all information on here for you and any administrator to easily access. Let’s say you’re applying for a new postgraduate degree, you have to contact each institution where you’ve completed previous qualifications and request a separate transcript and also pay money to get this. Blockchain technology can literally transform processes like these in education by distributing your record across the network.
Blockchain is a future we all want and is closer to us than we think. This could be our solution to create a more democratic world that disrupts the current unsustainable systems. In fact, the technology is expected to disrupt every industry out there by 2025. With recent developments in Blockchain, I am more than optimistic that we can use this technology to create a better future for all of us.
I’m Alishba Imran.
I am a Blockchain, Machine Learning developer and Nanotech researcher who wants to solve some of the worlds biggest problems using tech. To learn more, follow me on LinkedIn, and Medium! If you enjoyed reading this article, please press the👏 button, and share!