How Blockchain technology affects economy 4.0

Blockchain technology is gradually asserting its position in the 4.0 industry. With outstanding advantages and absolute accuracy along with indelible correction. This technology has earned the trust of users with the information verification feature.


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The field has been transformed by Blockchain technology

1. Banking and finance industry


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Reduce transaction fees and reduce money transfer time significantly. At HSBC, transit time is reduced from 5-10 days to 24 hours. Thereby increasing the competitiveness of some banks applying this technology. Besides, it also solves transaction holes leading to serious losses.


2.Shopping – Retail


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Transparent origin, helps to check the origin of goods, avoid fake goods. Also check transactions and avoid errors of refunding compared to when using the traditional system. Create trust and promote online transactions.


3. Storing information


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Help governments become more transparent. Avoid the situation of counterfeiting data books, creating a premise to create e-government. Avoid losing assets beyond national borders, controlling resources and traceability.


4.Health – Storing patient information


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It is inconvenient when you want to transfer to another hospital where the doctor does not have enough information to diagnose and have to diagnose again and again. With Blockchain technology you will easily transfer your disease data to other hospitals quickly.

Read more article: How blockchain will change the marketing industry in the future

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