Blockchain promises to disrupt many industries and not just the obvious ones like banking and financial services. Here we look at ten industries that should prepare themselves for some disruption caused by blockchain technology.

1. Here Are 10 Industries
Blockchain Is Likely To
Disrupt

2. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Title
Text
Introduction
You’ve probably heard that blockchain technology is going to
revolutionize… fill in the blank.
But what actually is it and how is it going to disrupt these
industries?
Here Are 10 Industries Blockchain Is
Likely To Disrupt

3. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
In simplest terms, blockchain refers to a decentralized database.
If you think of a traditional database like a spreadsheet, running on
a single computer, blockchain distributes that so the spreadsheet
runs on millions and millions of computers.
It also uses state of the art cryptography, so that once information
goes in, it is virtually impossible to get it out again without the
original passcode or key.
The real disruption here is that trust is established through
collaboration and code, rather than a central authority.

4. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
So, you no longer need a bank to make a money transfer around
the world.
You no longer need an escrow account to buy a home, or a real
estate agent to facilitate the transaction.
You no longer need a company or central authority to facilitate a
transaction of any kind. That is revolutionary and has the potential
to revolutionize nearly every industry.
But here are some of the most likely:

5. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
When the average person hears the word "blockchain," they probably
think "Bitcoin," and so it's no surprise that banking tops our list.
Blockchain would be a more secure way to store banking records, and a
faster, cheaper way of transferring money through the decentralization
provided by blockchain. Plus, there's minimal risk of a run on a blockchain
system or a collapse, as there's no central "vault." It's as though each
person's money has its own private vault that no one else can
access.
Banking

6. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Some of the biggest challenges in healthcare could be solved by a
blockchain system allowing all doctors and healthcare providers to access
your health records securely and easily.
Unlike the days of paper records, or even today when digital health
records can be created and stored in a myriad of different systems, your
health records could be singular, complete, and travel with you from birth
to death, regardless of how many times you change doctors or insurance
systems. Additionally, your health information could be accessed
immediately, at any time, potentially offering doctors lifesaving
information in an emergency.
Healthcare

7. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Rigged votes and “voting irregularities” could be a thing of the past, as
could the threat of rival governments or terrorist organizations hacking
the vote.
Voting systems secured with blockchain technology would be completely
unhackable. From voter registrations to verifying identity to tallying votes,
the system would be indisputable.
Gone would be the days of recounts and “hanging chads.”
Politics

8. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
If you've ever bought or sold a home, you know how much paperwork is
involved. But blockchain systems could be used to simplify the process
and eliminate escrow altogether.
Smart contracts could be designed that only execute when certain
conditions are met, including funding. Besides, all these various
documents could be stored securely.
A start-up called Deedcoin is offering cryptocurrency powered
transactions that decrease the commission rate for the agent to as little as
1 percent.
Real Estate

9. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Storing and retrieving documents as well as verifying their provenance are
key functions of the legal industry.
With blockchain technologies, questions over the legality of wills or other
legal documents could be eliminated by securely storing and verifying
documents.
Also, questions of digital inheritance, especially with the rise of
cryptocurrencies, can be eliminated with blockchain secured documents.
Legal Industry

10. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
The whole basis of blockchain is to create decentralized and ultimately
secure ways of storing, verifying, and encrypting data, so naturally,
security is going to feel the force of this new technology.
Decentralized data storage in the cloud eliminates many of the problems
of data hacks we’ve seen major players dealing with over the last few
years.
Advanced cryptography based on blockchain technologies can create
virtually unhackable data encryption.
Security

11. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Aside from voting systems, blockchain technologies could be used to help
reduce and eliminate bureaucratic red tape and corruption in government
agencies.
For example, welfare, disability, veterans and unemployment benefits
could be more easily verified and distributed, eliminating fraud and waste.
Smart contracts could ensure that government funds are only released
when certain conditions are met whether to contractors or foreign
governments in the form of aid. And security, efficiency, and transparency
in government functions could be increased across the board.
Government

12. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
It seems like startups like Airbnb and Uber have already disrupted these
markets, but blockchain could create true peer-to-peer networks for
rentals and sharing of goods and services that would eliminate the need
for the middle-man company, which naturally takes a cut of the fee.
In fact, there's no reason these peer-to-peer networks couldn't expand to
renting and borrowing just about anything from books to tools to
furniture and beyond.
Rentals and Ride
Sharing

13. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Many people want to donate to charity organizations, but worry about
whether their money will actually reach the intended recipients.
Charities can create trust through smart contracts and online reputation
management systems that can help donors trust that their money is going
to the specified people and places.
And the U.N.’s World Food Programme is implementing a blockchain
based system that allows refugees to get food with an iris scan, instead of
relying on cash, credit, or vouchers, all of which can be stolen.
Charities and
Aid Organizations

14. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
As the power of online and distance learning grows, so does the need for
an independent way of verifying students’ transcripts and educational
records.
A blockchain based system could serve almost as a notary for educational
records, creating a way for employers and other educational institutions
to access secure records and transcripts.
In fact, it could also help universities and other large institutions
collaborate. No longer would a student have to wait for the course she
wants to be offered at Harvard if Oxford is offering it online; her grades
and records would be easily and instantly transferable.
Education

15. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
These are just some of the industries that are likely to see
significant disruption from blockchain technology.
What opportunity do you see for blockchain to disrupt and
improve your industry?

16. © 2017 Bernard Marr , Bernard Marr & Co. All rights reserved
© 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a
strategic business & technology advisor to governments and companies. He helps
organisations improve their business performance, use data more intelligently, and
understand the implications of new technologies such as artificial intelligence, big data,
blockchains, and the Internet of Things.
LinkedIn has ranked Bernard as one of the world’s top 5 business influencers. He is a frequent
contributor to the World Economic Forum and writes a regular column for Forbes. Every day
Bernard actively engages his 1.5 million social media followers and shares content that
reaches millions of readers.
Visit The
Website
© 2017 Bernard Marr , Bernard Marr & Co. All rights reserved
© 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a
strategic business & technology advisor to governments and companies. He helps
organisations improve their business performance, use data more intelligently, and
understand the implications of new technologies such as artificial intelligence, big data,
blockchains, and the Internet of Things.
LinkedIn has ranked Bernard as one of the world’s top 5 business influencers. He is a frequent
contributor to the World Economic Forum and writes a regular column for Forbes. Every day
Bernard actively engages his 1.5 million social media followers and shares content that
reaches millions of readers.
Visit The
Website

17. BernardMarr
hello@bernardmarr.com
www.bernardmarr.com