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Industries that technology blockchain will change

Banking and payments: Some say that Blockchain will make for banking what the internet did to the media. They can be used to provide access to financial services to billions of people around the world, including in third world countries that do not have access to traditional banking. Technologies like Bitcoin allow everyone to send money across borders almost instantaneously and with very low fees. Abra is a start that works on a bitcoin-based translation service. Many banks like "Barcleys" also work on the adoption of blockchain technology to make their business operations faster, more efficient and more secure. Banks are already investing more and more frequently in blockchain start-up companies and projects. IBM predicts that 15% of banks will use Blockchain by the end of 2017.

Cybersecurity: While the blockchain-register is public, the data in it is checked and encrypted using modern cryptography. In this way, they are less prone to be compromised or altered without permission. This eliminates the need for intermediaries, making it more effective than many outdated systems in cyber security.

Computer networks and "internet-of-things": Samsung and IBM use blockchain technology for a new concept called ADEPT, which will create a decentralised network of (IoT) devices connected to the Internet. Working as a public general ledger for a large number of devices, this will eliminate the need for a central point to deal with communications between them. Devices will be able to communicate directly with each other to update the software, manage program errors and to monitor the use of energy.