How blockchain will change major industries

While much of the discussion around blockchain has surrounded bitcoin and its ups and downs, corporations and businesses are quickly waking up to the possibility of using blockchain to secure and improve large volumes of transactions as well.

By removing the need for trusted third parties, blockchain has the potential to make interactions within massive networks more efficient. While much of the private blockchain solutions in development are catered towards securing transactions within large financial institutions, blockchain technology can also have profound effects on industries that fundamentally affect the lives of everyday consumers.

Here are five industries that represent a similar set of characteristics – significant middlemen costs, inefficiency, and lack of transparency – that the blockchain is designed to improve…

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