Post
Topic
Board Economics
Merits 1 from 1 user
Re: Which industries don't need blockchain?
by
figmentofmyass
on 05/11/2018, 23:56:55 UTC
⭐ Merited by hatshepsut93 (1)
It appears as though every company is trying to integrate the use of blockchain technology.

https://www.blockchain-council.org/blockchain/top-10-companies-that-have-already-adopted-blockchain/

Some might have legitimate reasons, others just for the hype and hell of it.

Are there any industries that can't benefit from using blockchain technology in their business practices? Where it doesn't matter?

i would say most industries can't benefit from using blockchain technology.

i keep seeing people say it'll disrupt all these industries---healthcare, manufacturing, voting, etc---but i've never seen a convincing explanation of how. supposedly smart contracts can cut intermediaries out of supply chains because "traceability" but since it's impossible to eliminate trust at any point in the chain, it seems totally pointless. applying blockchains to voting seems disastrous. either privacy (and the idea of secret ballots) is severely compromised, or voter fraud will become rampant.

so far, blockchains are useful for decentralized money (decentralized implies permisionless, censorship-resistant qualities). even smart contracts are just a proof-of-concept at this point for real world applications.