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Amandeep Bhatia asked a question

Will the block chain change everything as we know it?

I recently read about how the blockchain is being used for smart contracts. The use cases are a bare scratch on the surface. It can make every segment available today super efficient without using a lot of resources. 

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3 answers
Nipun Soni aspiring developer

Bitcoins have been around for a while and while it is debateable if this is the future of money as we know it. The blockhain powering the bitcoin network is here to stay, because it solves the problem of trust in the most elegant way.

The main USP of the blockchain is that it is decentralized and everyone has access to all the information. Also it is transparent and there is no way to break the system. This changes a lot of things, the blockchain is currently being tested in various applications, soon everyone will be able to build their businesses on the blockchain where everything will be transparent. 

Example : You get an insurance for your house, you talk to the insurance provider and set the terms.
This is programmed and stored on a smart contact that is now available on the blockchain. A regular check determines if the terms of the contract have been met incase of a calamity, the amount hits your bank account directly when this is true. there is no need to file for a claim and provide proof. All the manual processes ,verification checks etc will end, saving time and resources. 
P.S. The example is taken from a talk on Ethereum.

Blockchain adoption will make everything super efficient in the near future. The blockchain has the power to change industries as we know it. 

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Khyati Mirani Fond of TechyTrends
I came across an article today on the blockchain. Here is the link Blockchain, I guess this will help you out to find your answer.
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