In 1973, the US Department of Defense sought a solution to deploy military and operational units and carry out its objectives anywhere on the planet. For this reason, in the early 1980s, it created a system of 24 satellites, which we now know as the Global Positioning System (GPS). We use this system everywhere, from cars to cell phones and other devices. As a result, this technology, designed to solve a military problem in the past, has become an essential aspect of today’s daily lives.
When we talk about blockchain technology, the first thing that comes to mind for many people is bitcoin. Bitcoin was the world’s first digital currency. A decade ago, it surprised the world with innovations and applications to the banking and payments industry. At that time, the Bitcoin Genesis block was successfully extracted, and we saw the first actual use of the blockchain. Given the media orientation, you might think that this technology is only used for business or finance. Still, the truth is that, just like GPS, launching the blockchain in the field of digital currencies soon can solve the fundamental problems of society. But how?
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Is the blockchain set to disrupt the current system?
To answer the above question, it must first be noted that the primary purpose of the blockchain was simply to solve the problem of trust in our social life. Faith means ensuring that a person behaves according to the principles outlined in the rules governing the exchange of goods, information, or services. Blockchain technology has brought us this trust and transparency.
When mankind turned to social life, the principles of trade between primitive tribes were such that individuals should only trust each other. As commodity trading became a little more complex, the need for a centralized entity (an intermediary or a third party) impartially legitimize these transactions and is now fully felt. Eventually, the money management system and the traditional banking industry came into play. Systems that have been in business for centuries have remained intact. This scenario is so ingrained in our current society that we cannot legalize our monetary transactions without currency, the government, or the central bank as intermediaries.
Let’s go back to childhood. Remember when we were kids, and we wanted to share a packet of candy with our friends. At the time, all the children were intuitively acknowledging that the sweets were being distributed healthily and fairly. Our trust in childhood came from two principles: the way we all accepted it or the honesty we showed in distributing food.
Distributing food in childhood that describes one of the basic concepts of the blockchain that can change the way we perceive the world, a distributed accounting office called Ledger; A powerful, anti-fraud system that everyone has access to and records changes in anything of value (not just monetary transactions).
With these two essential features, decentralization and transparency, the blockchain enables better addressing of social issues. In addition, it offers new and creative ways to address challenges in education, health, and information.
The blockchain is changing the world!
In third-world countries, these innovations can be used to change the way education funds are allocated to schools and online tax courses. The amount allocated is not fixed and varies depending on students’ attendance, thus encouraging faculty and teachers to use innovative and creative methods to encourage students to attend classes.
The impact of these innovations on higher education worldwide can also bring about a transformation that has never been seen before in human history. According to the International Association of Teachers, awarding a university degree has become a significant problem globally.
In 2016, in collaboration with IBM, the Kenyan government made it possible for universities to issue valid diplomas and prevent fraud in this area. By creating a framework in this field, China Blockchain technology helps institutions and businesses related to university courses to award degrees and evaluate results with more confidence.
In Tunisia, education and nutrition go hand in hand. Last year, 420,000 people died from food-borne diseases, most of them from Africa and Southeast Asia. This is due to the entry of chemicals, bacteria, parasites, natural toxins, and the like into the food supply chain. Devery.io startup, in collaboration with the Ministry of Education, is implementing a blockchain-based solution to track meals in schools in these countries. As a result, we can help provide fresh and healthy food to disadvantaged students and prevent the distribution of contaminated food among them.
However, it’s straightforward to take advantage of the blockchain in the supply chain. In this case, whenever there is a problem in the food supply chain, third parties can intervene to stop production and prevent the further spread of diseases, especially among vulnerable populations such as adolescents and deprived children.
The health sector is also one of the sectors where transparency can have a significant impact. Physicians and specialists can, if necessary, have direct access to medical history, treated diseases, their current and current treatments, and appropriate diagnoses. Insurance companies will also have access to fully up-to-date information, thus preventing fraud that occurs due to unusual scenarios, diseases that are difficult to diagnose, or diseases that a person already has. In addition, by integrating this technology with artificial intelligence, we can prescribe new drugs and new treatments more efficiently.
There are currently several startups that allow private and non-manipulative registration of medical records and make them available to physicians and medical centres worldwide. Two examples of these startups are Dentacoin and Health Wizz, which have achieved positive results and are paving the way for much higher standards in healthcare.
Facilitating clean energy trade
Blockchain technology is also used to develop the renewable energy trade. Consumers can exchange and buy renewable energy with tokens or digital assets that represent a certain amount of energy production. If you have solar panels on the roof of your house or you have an electric vehicle that can transfer electricity from your battery to the grid, blockchain can help. Blockchain and climate change also communicate well in this option.
Until recently, the development of smart contracts has been a hindrance due to the inability of blockchains to interact meaningfully with real-world data, including the environment. But in recent years, Oracle (the institutions that can store information about our world in the blockchain) are finally preparing the blockchain to fight climate change.
Like any other fundamental change, the new form of value management faces many legal, regulatory, and technical challenges, from finding accurate information and experienced analysts to allowing exit for people who do not want their data to be recorded and checked for confidentiality. In addition, of course, mechanisms must be considered to track and control information because there is a possibility of using this information for terrorist and criminal purposes.
Indeed, these challenges must first be addressed before the global acceptance of the blockchain in other sectors. Still, change is imminent, and we, as a social entity, need to make a fundamental change in society’s attitude. Are you ready for the change? It is better to prepare yourself from now on!