While blockchain technology was initially designed to encourage Bitcoin, it is currently utilized in many different applications for a variety of businesses.
Even though it was originally made to be the supporting technology (for Bitcoin), many unique industries have been embracing blockchain for its amazing decentralized system and unprecedented transparency.
It might not be long until blockchain becomes a part nearly each business, therefore here are some industries that are in the forefront of utilizing it:
1. Real estate investments may be tokenized, creating new options for traders.
Property is applying the usage of the blockchain, as it cannot simply be used for financial transactions, but also host smart contracts and decrease the need for intermediaries. Together with blockchain's transparency, something such as the use of an escrow might soon be a thing of the past.
Blockchain can help the investment in real estate too. Whether it be personal, real estate investments or investments in private equity funds which consist of a portfolio of real estate resources, historically real estate investments are long-term because of their illiquid nature. Investors are made to join their capital for decades at a time, frequently without a real return of the capital or profits before the investments are sold notwithstanding income earned in the procedure. This timeframe is typically at the 5-10 year range.
However, with the introduction of blockchain technologies, properties, and investment vehicles may be "tokenized," enabling for multiple individuals to have fractional ownership and hold a liquid investment, as the tokens could be publicly traded in the secondary industry. For example, Muirfield Investment Partners aims to offer a Tokenized Asset Offering (TAO) to address key structural problems within the private equity business, fill a market gap for crypto investors and make personal equity investing liquid and available to investors of all sizes and geographical location. Compliance with U.S. Securities legislation is of great significance for this sort of vehicle since there is a lot of eyes around the industry.
2. Sports startups may gain from greater involvement and advertising choices.
There currently exists major issues for startups in the sports content area, not limited to a lack of a fan-centric approach to design, sub-par participation and bare community-style platforms, together with Twitter being a most important medium for the industry. While it is evident that social media has been a facilitator of enhanced engagement for sports and amusement solutions, blockchain is regarded as a tool that may be a real game changer.
Take for example TOK.tv, which enables millions of fans to share the sport with their friends while watching a match on TV, empowers teams and brands to reach out to enthusiasts also, then monetizes the experience utilizing branded material and ad-syncing predicated on blockchain tech. Brands may target the ideal people most likely to reply to their ads during the game pauses, making the experience like being able to click on a live advertisement.
Digital advertising is a lifeblood for many startups and the blockchain will help solve problems in a place that is described as inefficient and opaque.
3. Hollywood is getting into the act of crypto fundraising and distribution through the blockchain.
A group of many production firms has formed an alliance to create a science fiction anthology series entitled New Frontiers, which will consist of five sections that combine into a single story. Together, the anthology includes a budget of five million dollars. Why is this project so interesting, however, the figures will be the first production to be completely financed via cryptocurrency and dispersed on the blockchain.
Funding films over blockchain might come in a more audience-oriented and engaging variation of Hollywood. It might also enable individuals and groups outside of the significant production homes to better create, produce and distribute their films, putting extra power in the hands of people outside of Warner Bros, 20th Century Fox and others.
Viewing entertainment may be highly accessible, and generating entertainment may not need to strictly be in the control of major studios no more.