According to the recent report by CoinTelegraph, claims that Blockchain Technology, the decentralized ledger which supports the cryptocurrency world is the most essential invention after the Internet. Certainly, few of the biggest inventions which mankind had developed include printing press, electrical-powered devices, and the radio, blockchain was found to share similarities with these devices.
As per the record of great inventions by The Atlantic, some of past's unique and influential products and ideas share common features.
The most crucial inventions are also considered as those which have the ability to increase human intellect via different creative and significant possibilities. Biggest inventions such as printing press, paper, and the internet have changed how we communicate with others. Similarly, Blockchain technology maintains the same purpose, it permits new ways of secure, anonymous communication in different areas all around the world.
Importance of Infrastructure
A large number of inventions which had a major impact on the mankind are those which we have integrated into our daily lives and we have forgotten about their existence. Experts consider cement, electricity and sanitation systems in such inventions. Currently, blockchain is not used to that extent. But, various crypto communities believe that fiat currency will soon be replaced by the cryptocurrency. This will happen only if blockchain provides secure cryptocurrency transactions, this would mean that blockchain will play a significant role in every conversation.
Health and Longevity
Some of the biggest inventions include penicillin and vaccination, which have supported to eliminate disease and extend longevity. The blockchain is not right away applicable to the field, but it holds the true potential to enhance health using healthcare. Currently, in the U.S, health care systems are too outdated, because doctors are still using old technologies like fax machines and papers. When blockchain will be implemented into the healthcare system, as some blockchain projects are working on it, it will certainly improve the lives and treatment of a lot of patients.
Transportation of Goods
Using Blockchain, one can track the movement of goods in interesting and robust ways. To verify this, one should take examples of companies who have used blockchain technology to track shipments of various products with a high degree of proficiency as compared to current traditional methods. Thus, blockchain technology can be implemented in various inventions like a steam engine, the automobile and also an airplane.
Different Applications
Various most influential inventions have a wide range of applications, hence it's very difficult to categorize them. For instance, consider the Internet, it was invented in the 1990s and it has changed how we live our lives. Same is the case of the blockchain, there are many supporters who believe that blockchain has unlimited applications.
When we talk about blockchain technology, it is absolutely true it requires some time before anyone who truly argue that it has earned the place in the world's biggest inventions. In near future, a large number of individuals will believe that blockchain has the true capability.