Over the last few years, theorists of the digital age have been trying to come up with the next big thing. The first global platform for mass collaboration is showing through the use of the internet. The profound technological shift is changing how the world perceives and does business. Using Blockchain technology will ensure the use of digital currency Bit-coin.

The internet goes a long way in transmitting as well as communicating information to a target group. Flaws regarding privacy is, however, a significant hindrance. This technology ensures peer-to-peer transactions without intermediaries. The technology validates and keeps a permanent public record of all transactions while maintaining users’ information anonymous.

Personal information becomes private and secure while ensuring all activities are transparent and incorruptible. Mass collaboration reconciles and stores information in code on a digital ledger. These Systems provides trust is inbuilt other than trusting each other in the traditional sense. Blockchain technology requires the use of digital currency; Bit-coin is one achievement of computer science in this great innovation.

The technology holds any legal documents, from educational certificates, birth certificates, title deeds, marriage licenses among others. Technological advancements are turning the world into a large ledger. This trend is assisting in decentralizing independent organizations, decentralizing government services as well as winning smart contracts among other benefits.

The internet is currently holding everything and hence each ledger for everything. Blockchain technology is a globally distributed, open platform that is fundamentally changing what we are doing online, how we are doing it and the parties we are involving. Financial analysts and technologists are arguing that Blockchain technology will oversee the next era of global prosperity in multiple fields.

These areas include; finance sector, business world, education, governance including health care among many others. Distributing this technology across multiple data centers is ensuring security against attacks on critical hardware equipment and networks. Transfer of data within a company’s entities becomes easier as well as across industries at large. With the increasing possibilities, this technology is becoming the digital world key pillar in a wide range of economic sectors. Here are some of the sectors where Blockchain technology is applicable.