Hey everyone. Welcome back to the course. In the last lecture, we discuss some of the researches currently happening over the distributed ledger technology and blockchain. We also explained how these researches can provide a link to the future potential of distributed ledger technology. Now, let's discuss the potential future applications of the blockchain and see how the blockchain will shape the world. The first thing to do is understand the current implementations of the blockchain in various sectors.

Let's visualize the same with the help of an image. The current use of blockchains seen in the different areas can be defined as per the pie graph, which you can see on your screen. Currently, the banking and finance sector is holding the largest share of blockchain implementations, which is about 31%. Following the same, we have the government and the public Goods sector holding about 13% and the insurance holding about 12% respectively. After that, we have healthcare, media and some generic implementations of blockchains, which are not far behind. Energy manufacturing, professional services and technology services are also looking into blockchain for solving their problems.

Although their current implementations are less as compared to the other sectors, but the potential for growth is much higher. These are some of the current market reach and sectors that blockchain has disrupted till now. This distribution is going to change in the future, as we see more and more industries coming forward and realizing how they can use the blockchain to solve their potential problems. The last image showed you some of the current uses of blockchain in different sectors there are indeed more potential users of the blockchain which we have not seen yet. As you can see in the image, we have listed some of the different sectors which can utilize the blockchain technology for solving their needs. Some of the major industries which will come up in the future would be related to record keeping and smart economic.

We will see the implementations of blockchain in healthcare, land records, ownership of documents, voting applications, and intellectual property applications. We will also see the smart economy being shaped up by the IoT and blockchain technology. There would be self driving cars, smart homes, virtual assistants, and smart energy devices which will utilize IoT and blockchain together to function much more effectively. We will also see digital currency being expanded and used in global payments. ecommerce businesses. digital currencies will also increase the transparency in the p2p lending processes and micro finances.

Finally, the securities for industries are also on the rise, where we will see that the crowdfunding private markets, equity and derivatives will start using blockchain for the permanent records for all the processes. In the last few slides, we have discussed how the blockchain is being used in the industry currently, and what is the potential scope of the blockchain projects. If you have a look at this world map, this is the ongoing impact of blockchain over different countries. We have divided this complete map concerning where the blockchain is taken as legal, debatable, prohibited and not yet introduced. As you can see, most of the developed nations are already using blockchain technology, Europe, United States of America and Australia being the major countries and continents, who have legalized the blockchain and cryptocurrencies. Some of the countries like Russia, India, and some parts of Southeast Asia are still debating on the potential use of the blockchain and how they can imply blockchain with their current services.

Few countries have also prohibited the use of the blockchain and cryptocurrencies, due to the room name given by the cryptocurrencies. This is the ongoing impact of the blockchain technology on the countries. Some of the countries belonging to African continent are still far away from the blockchain world. Now, you can imagine that the impact of blockchain since its release in 2009, till the current year is quite substantial. Now, let's see some of the potential impact of the blockchain We are estimating that the blockchain is going to affect every country and each industry. The significant implication in the impact is that we don't need to take blockchain as a competitor for other technologies.

The blockchain is not a silver bullet who will replace everything and anything. It's a solution which when cloud with other technologies can do wonders for the industries and the government's. The potential impact of the blockchain by 2030 is to cover the whole world, as estimated by different research organizations. We can see that the potential impact of the blockchain is going to cover the world as a whole starting from the developed nations to the nations which are still far away from the blockchain world. This was about the potential future applications and how blockchain can take over the world with its disruptive technology. We have discussed a lot about the blockchain throughout this course.

We hope now you have a good understanding of what to expect and how to dive into blockchain. In the next lecture, we are going to conclude and summarize the whole course and give you some future guidelines of how you can achieve more with the blockchain and where you can learn more about the blockchain. If you have any queries feel free to contact us at info at the rate v two blocks.com