People around the world are constantly talking about a blockchain revolution being just around the corner and that big things are about to happen in the coming years, but the truth is that we are living through the early stages of a blockchain revolution right now.
It has been happening for the past few years, and it will continue to occur at a more dramatic rate as the innovative blockchain technology becomes more widely accepted and in the mainstream.
Let’s take a closer look at this ground-breaking technology, which is being described by many as the biggest development since the internet, right here.
Are we living in a blockchain revolution right now?
Yes. Blockchain technology is currently revolutionising the economic world as we know it in several ways.
It has helped make the processing of multiple transactions and cross-border payments far more secure, efficient, and quicker than ever, which opens up lots of potential and opportunities for the financial sector.
Traditional banking institutions are taking advantage of the revolutionary technology to improve their services, and investment in cryptocurrency continues to grow. Some are also hailing it as the fourth industrial revolution.
If businesses can continue to harness the power of blockchain technology and use it correctly, it can have several benefits for society like no other emerging technology has been able to do before.
In other words, the revolution is not just economic and financial but also societal, as it has become more accepted worldwide, boosting globalisation as we know it.
Is it possible to pay for my groceries or, for example, top up my casino account using cryptocurrency like Bitcoin?
Yes. It’s now possible to sign up to certain grocery store & restaurant delivery services that accept cryptocurrency as a payment option to order your favourite weekly groceries/meals with your digital crypto balance.
You can also use cryptocurrency to top up your online casino account and cash out your winnings in your preferred cryptocurrency. For a complete list of all Bitcoin Casinos right now, go to the official AskGamblers website.
There are over 500 licensed casino sites to choose from that now accept one or more of today’s major cryptocurrencies, such as Bitcoin, Litecoin, Tether, Polkadot, Ethereum, DogeCoin, Ripple, Cardano, Avalanche, and Tron, to name a few.
What is the future of blockchain, and what else can the technology do apart from speeding up transactions and making them more secure?
When blockchain technology inevitably becomes an everyday part of everyone’s lives, it will do more than just speed up transactions/payments and make them more secure.
It will soon be at the forefront, and blockchain apps will help improve various other online services and improve people’s lives worldwide.
Blockchain technology will enhance cyber security by securing data and preventing hackers from being able to either tamper with or hijack sensitive data, information, and funds. It will allow the users to verify the authenticity of files.
It can also be used in areas like voting elections to prevent fraudulent activities from taking place and help give rise to remote voting. It will help reduce costs and therefore save money for people over time as more and more decentralised cryptocurrencies are accepted in the mainstream.
It will also have major benefits for the medical industry. Some of the main benefits of blockchain technology are the following:
- Enhanced security
- Reduced costs
- Increased speeds
- Greater efficiency
- Greater transparency
- Improved traceability
It will also help transform and revolutionise many other industries and sectors in ways we cannot yet foresee. There are several challenges still to overcome, which is usually the case with any new technology that arrives, but if used correctly, it can help create a better future for everyone involved.
I’m interested in buying cryptocurrency. Where can I get some?
If you’re interested in buying cryptocurrency, there are many trusted cryptocurrency exchange websites to choose from. Some of the most notable sites are Kraken, Coinbase, Uphold, eToro, and Binance.
Others include FTX, Okcoin, OKX, and Bittrex. You also have HitBTC, Huobi, bitFlyer, Bistamp, Bybit, Gemini, and Poloniex, to name a few.
They are all free to sign up to, and when you register your account, you often must provide them with KYC (Know Your Customer) documents like you do at real money gambling sites.
The kind of info that can prove you are who you say you are and prove where you live are things like a bank statement, a mobile phone or energy bill (must be no older than three months) and either a scanned copy of your valid passport or driver’s license.