The technology likely to have the greatest impact on the future of the world economy has arrived, and it’s not self-driving cars, solar energy, or artificial intelligence.
It’s called the blockchain.
Smart contracts and other blockchain enabled digital documents highlight the potential for traditional legal services to be disrupted. Smart contracts can remove the need for enforcement of contracts in court, by having the agreement automatically execute on the blockchain and transfer funds in a verifiable way.
There's more to blockchain than cryptocurrency, and with the big players in financial services still firmly reliant upon legacy technology and software, there's huge potential for innovators using blockchain to bring highly competitive offerings to the table.
To realise the potential of personalised health-care and precision medicine, it's essential to have reliable, consistent and secure personal health data. This needs to be stored for long-term use, out-lasting a patient's relationship with any individual doctor, hospital or clinic, and should be portable world-wide.
1 in 6 people in the world has no form of official identification, according to the World Bank, which impacts their ability to access financial services, democratic processes, travel, education, health and government benefits. Blockchain could be used to facilitate uncloneable identity documents which could be validated worldwide.