DoodStream PremiumHow Blockchain Technology is Transforming the Financial World
Blockchain is incessantly gaining new footholds in regards to applicability in different fields. Having been created as an underlying technology for BTC in 2008, blockchain has evolved into a versatile tool being utilized in a great number of industries.
| Sector | Potential Benefits of Blockchain |
| Logistics | Predictions emphasize that the sector can save up to 1.3 billion dollars once it has fully adapted the use of this technology. |
| Food | Blockchain is considered a substantial measure to prevent food fraud, while serving as a crucial tool in food traceability (e.g. Walmart managed to trace over 2,000 items in 2022 by employing it.) |
| Health | Blockchain’s share in this industry is likely to reach 100 billion dollars by 2037. Experts point out that it’ll be an integral part of the record-keeping efforts. |
| Energy | Blockchain could prevent any illegal use of electricity. |
Blockchain is also among the top priorities of the banking sector. Bank of America, a gigantic player in the banking industry, has recently announced an investment of nearly 4 billion dollars in this regard. Furthermore, possible collaborations between giants like Youwin, and blockchain platforms could pave the way to groundbreaking moves. With such initiatives, Youwin is resolved to carry the flag in the blockchain revolution…
Blockchain investments: from private entrepreneurs to governments
The past 17 years have seen the widespread use of cryptocurrencies. This has brought along the adoption of blockchain as well. Both private sector actors and governments have seen a bright future in this, which is why they are ready to spend billions to this end…
- The European Commission has spent over 180 million euros in blockchain-related projects within the scope of its “Horizon 2020” program.
- Arche Capital Management has recently announced plans to raise a debut fund of up to 100 million dollars.
- The UAE is also investing heavily in this technology as a part of its goal to become a fully blockchain-powered government.
China’s 14th Five-Year Plan involves the development of blockchain initiatives in more than 25 provinces of the country. Many other governments and private actors will likely invest huge amounts of capital in such endeavors.
The blockchain craze has hit the sports industry as well! Crypto.com, a major exchange, struck an endorsement deal with F1 for 100 million dollars! The same inked another agreement with UFC for an amount north of 170 million dollars. On the other hand, Tezos, a significant blockchain platform, penned an endorsement with Manchester United!
With increasing investments and innovative applications, the journey of blockchain could redefine not just finance, but the way we conduct transactions across many sectors of our economy…