Hi,
the theme for today's #februaryinleo, the initiative for increasing the interaction and the quality of posts, is about the new use cases with blockchain, which falls under the #noveltytuesday theme.
For me, the new use case for blockchain would in health and medicine. Together with AI, it can be a powerful tool to improve global health, faster and cheaper treatment. Yes, the drug industry, as I can't tell it as healthcare, will be hit, if we improve prevention of causes. Also, if we use tokens, instead of the data of real persons, we will have a decency of anonymity.
We can record markers from our body every once in a while, and if something is off, based on the chain data, we can investigate deeper. Imagine discovering cancer or dementia early on, when it can be stopped and treated easier.
I have some childhood friends, that are doctors in medicine, and have their own oncology clinic. Besides that, they've started an AI company, https://www.origini.ai/ that develops a chain for cancer research https://www.oncochain.com/. Got some pretty good funding, and it shows that the blockchain can be used to treat real world issues. Pharma industry shall be afraid of it, as healthcare needs to be revolutionised.
Another point, especially in very corrupt countries, could be the implementation of blockchain based notary services. In communist countries, or post communist countries, there is always corruption, and some notaries fake document, which leave people with the last amount of what they owned.
With the blockchain technology, a clean land register can be maintained, and only assign a token to a land plot. This token, as wallet per se, can't be transferred, only the land as NFT gets a new token as owner. And this must be signed off by the notary, and the parties involved in the transaction. The contract can be crypted and stored also on the chain, in case if there are legal issues or challenges in the future.
With this method, a lot of unnecessary unproductive jobs are cut, as there is no need for more paper pushers. State as a whole is inefficient in terms of economics, just imagine that on every transaction one is taxed, as the state needs money. Streamlining procedures, making them more efficient, means less taxes needed, which increase net worth in the end.
So, what would be your view on this? What would be your new use cases of blockchain?
This is part of the initiative #februaryinleo, where you can still participate, even if you missed the post from the start, like I did. All the details are in here and in here.
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