Blockchain for Science: Revolutionary Opportunities and Potential Problems

Although blockchain technology is still evolving, it can already offer many advantages to the scientific community.

Blockchain is revolutionizing the world.

It is one of the biggest technology markets worldwide, with prospects to
continue growing and eventually reaching 23.3 billion dollars’ worth of
investments by 2023, according to Statista.

In the future, the rapid growth in investments will encompass many
different industries, and blockchain will become a mainstream technology.

See also: How Blockchain Technology and Cognitive Computing Work Together

Currently, however, different industries are only at the early stage of introducing blockchain technology to different procedures and operations. According to Deloitte’s 2018 global blockchain survey, blockchain technology is expected to revolutionize many industries. It is anticipated that by using blockchain, industries will completely change the way they function.

According to Deloitte’s survey, manufacturing industries, as well as the
energy sector, along with healthcare, technology, and even the public sector (governmental
institutions, executive branch), will eventually turn to blockchain technology
to organize data, store it, and ensure its security.

But here’s what caught our attention, while analyzing this survey.

Interestingly enough, life sciences (biotech, medical devices, and
pharma) ranks high on the list of industries that will make use of blockchain.
The technological advancement in life sciences greatly impacts the quality of
healthcare, giving us new opportunities to improve it.

Let’s take a step further.

Technological advancement in engineering and computer science will give
us new opportunities in manufacturing, the energy sector, and other related
fields.

This pushes us to deduce the following thought: will science in general be changed…

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