Is Bitcoin Just About Money? Find Out the Benefits of Blockchain and How They’ll Improve Our Lives!

VIDEO: Benefits of blockchain hi guys Nick here my friend Eric guys today we're going to talk about the utilization of blockchain in the news today there's a lot of talk about Bitcoin and other currency applications for blockchain but what a lot of people don't realize is there is some really really really big up-and-coming applications through the utilization of blockchain that people aren't really talking about or listening to so today we're going to cover some of those topics so listen up smart contracts are a huge utility of blockchain technology today and even more so into the future what smart contracts allow us to do is create a contract similar to a normal contract that you would sign today say for a law contract between two individuals we have a certain set of rules that are written out and you agree upon them with your signatures and this is done using black chain technology digitally so the advances of that are going to be one it's cheaper to transact than paying lawyers or say – it's also much more secure because it's decentralized software applications in blockchain technology are gonna be completely decentralized in Spain unencrypted in the blockchain itself this will go from video games Google to let's say service exchanges in Google for any kind of let's say a platform for social media any kind of digital and software development is going to be encrypted in the blockchain decentralizing file storage has obvious benefits by distributing data throughout the network it protects files from getting hacked or lost blockchain technology guys is gonna revolutionize the insurance market tricky aspect to pay attention first cheaper second less intermediate on third security each policy is going to be a smart contract encrypted inside the blockchain technology the use of crowdfunding in blockchain technology has raised over 1 billion dollars in 2017 alone outpacing venture capitalists this year look for crowdfunding and blockchain technology to be a big player in the future to come identification big utility here passport driver's license IDs this information will be encrypted in the layer of the blockchain and you will be able to access from ammo from your computer blockchain opens up the door for direct interaction between parties and it does this by having a peer-to-peer value of transfer thus opening up the door for a truly decentralized network creating a sharing economy are you guys so now that we've discussed the utilities of blockchain technology besides just its use as a currency we hope you understand the full range of utilities that blockchain can envelop and into the future we will only see more and more utilities come into fruition so if you guys are interested in some other topics that we didn't talk about please leave those down below we'll comment on it possibly Eric and I will make a video on it and also if you guys are interested in other things to do with blockchain technology and want to get a little bit more information click the link below and check out our website block capital insider or me and Eric oh and a much more in-depth about blockchain technology its uses and many many more things so thanks guys for coming out today we'll just really appreciate it Eric and I wouldn't be here without you guys we do I just want to say thank you so check back again for our next video