Industry Demand for Blockchain is Growing

People connect the word blockchain with bitcoin, because this is where blockchain technology was first used. However, diverse industries are now embracing the privacy that this technology provides. With recent LinkedIn research listing blockchain as the most in-demand tech skill for 2020, your knowledge of blockchain technology makes you employable in emerging roles at the cutting-edge of many sectors.

Click on Banking & Finance, Education, Government & Security, Healthcare, or Politics shown below to learn about the demand and impact of blockchain technology in each of these industries.

Banking and Finance

Banking & Finance

Over $600 million are currently locked up in decentralized finance platforms, and this number is expected to exceed $1 billion by summer. The financial sector has seen the highest growth with blockchain technology. It allows customer identity and data to be managed privately and the transparency of the system makes it easy for anyone to audit the database.

Education

Education

53,000 students and 3,100 educators had personal information exposed due to a data breach at the company that handles K-8 assessments in Illinois. Using blockchain to secure student data makes data breaches that go after student information a thing of the past. This technology can also be used to safeguard and verify student transcripts.

Government

Government & Security

The Department of Homeland Security (DHS) requested a total of $1.92 billion for its cybersecurity budget. This budget includes funding for DHS projects advancing cryptology based on blockchain technologies to create virtually unhackable data encryption to secure the Internet of Things.

Healthcare and Life Science

Healthcare & Life Science

 

55% of healthcare applications will have adopted blockchain for commercial deployment by 2025. This secures patient records and allows patients to give permission to whoever they want to have access to their information.

Politics

Politics

Implementing blockchain to secure ballot boxes would lower government costs per single vote from an average of $9.50 to just $0.50 per vote. A blockchain-based platform was used in a test project for mobile voting in West Virginia. Not only are these systems cost-cutting, but they also eliminate problems with voter fraud.

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