The Roles of Blockchain Technology in the Future of the World

What once started as the technology that made bitcoin possible, blockchain has proven that it’s more than just a cryptocurrency tool. The question that was once asked about what will happen next if all 21 million bitcoins have already been mined has pretty much already been answered by the increasing use cases of blockchain technology. It has gone over and beyond just being a cryptocurrency technology. With time, it has already been able to penetrate primary industry sectors such as healthcare, manufacturing, finance, banking, and much more, in the current world. While this is the case, it still holds a lot of promises so, what further roles will blockchain technology play in the future world? Here are some sound predictions based on current trends.

Banks and governments to adopt blockchain-based cryptocurrencies

Over the next decade, blockchain-based cryptocurrencies will be the area of experimentation for most banks and governments around the world. In fact, some of them have already started with what is called Central Bank Digital Currencies or CBDC, which, therefore, makes it inevitable that the currency of the future world will be cryptos.

The internet of things (IOT)

Right now, in the current world, we already see how much the internet of things has changed our lives in more ways than one. If you have a smartphone or a smart TV, you know what this means. Even with your appliances, you can practically do every smart thing possible with it. In the future, the use of blockchain technology will make things even smarter. Smarter smartphones, smarter smart cars, smarter smart TVs, etc., will be the future trend.

The Rise of free markets

In today’s world, true free markets are very rare. The current markets are mostly centralized, including crypto exchanges and even e-commerce platforms. With the birth of Virie Market, many other startups may follow through. Virie Market is a decentralized, and true free market for everything of value, such as goods, services, and currencies, both fiat, and cryptos. It’s the first-ever blockchain product that has been able to put everything in just one platform. To use it, all you have to do is download the application, and that’s it! With the convenience and perks this market is introducing, no wonder if a lot of other companies will do the same in the future.

Revolution of the real estate industry

Real estate transactions are one of the most tedious and painstaking processes due to the lack of technological innovation in this industry. Fortunately enough, Virie Market is introducing an embedded escrow in its blockchain system. A technology that is expected to revolutionize the real estate industry in the future.

World trade uprising

Currently, world trade is conducted through chaotic and untrusted business relationships, which resulted in inexplicable incidents of fraud, scams, errors, and inefficiencies. Blockchain technology can be the force for unification to stop the chaos and unify incongruent flows of payment, goods, services, and information in the future.