Blockchain’s potential is mainly attributable to numerous applications it has or in the near future can have. Let’s take a look at some examples.

For starters you may have heard about banks showing interest in the blockchain technology. Essentially they want to use it for the same purpose Bitcoin uses it — to ensure the safety of transactions and speed up the process of interbank and international money exchanges. There are test being carried by around 40 financial institutions interested in such an application.
I recommend this source for further reading on the matter further.


Another area that could benefit from the blockchain technology is the art industry. Creating a public ledger of ownership for works of art could seriously restrain selling stolen art, as the ownership would always be easy to find and transferable only by the rightful owner. And if you think it wouldn’t work, well it actually does work already with diamonds due to the work of a company called Everledger. Just think about other industries where protection of intellectual property is crucial (i.e. music, movies)… Do you see the potential?

These are just a few examples and you can find plenty more on the Internet (real estate, e-governance, smart contracts) but I believe that currently we are only limited by our imagination. Any business/institution that is dependent on some sort of records or rights of ownership could benefit from implementing a version of this idea tailored to suit their needs. It will help them work more efficiently in terms of money and time.

If you want to know how Bitcoin is changing the world and business, you should definitely watch Don Tapscott Ted Talk!