Centralized marketplaces have disabled consumers since they have emerged from the scene, centuries ago. Along with a lead to economic collapse, and the institutional inefficiencies; centralization is indirectly creating a feeling of paralyzation among the consumers who lack transparency and security that they need for making empowered decisions regarding their own welfare.
Although, that age of immobilization is over. It has led to the emergence of decentralized blockchain technology. It has the potential of revolutionizing an industry and invert the way that data has been used to transmit over the globe, that has offered consumers a power and mobility they never thought could be possible.
It is expected that new opportunities are likely to appear in the healthcare where patients could have safer and more efficient way to exchange information. Later, the patients would not need to track down their health records from the countless number of the doctors and insurers. Needless to say, there won’t be any room for the worry associated with whether or not their different providers and insurers are adding the correct information to the patient’s prescriptions and documents or not; in order to keep all of the healthcare professionals informed about their medical records. With the help of decentralized exchange, they would not have to worry about specific difficulties. Their information could be kept in streamlined, and accessible exchange that would undoubtedly lead to better overall care for the patient with lesser confusion and work for medical professionals and insurers.
Moreover, real estate is another industry where centralized framework harshly limits whatever a buyer is able to do. First of all, they would have to fight with the barriers to entry. The buyers that had not enough capital, are turned away and the obsolete laws helped them preventing in other ways. It can even be illegal for women if they want own property in certain countries. For instance, the other countries may place heavy restrictions or some outright bans on foreign buyers. If in any case, the prospective buyer doesn’t break into ownership; they then should interact with a heap of third parties from the city officials to banks just for purchasing a single piece of plot. The centralization process is, however, annoying and time-consuming, and later they would have to hope that the housing markets fluctuate their way such that their investment in assets becomes worth it.
Whereas, a decentralized framework in the real estate industry would help in eliminating these difficulties. The emergence of blockchain technology makes it attainable for accounts to be anonymous so that anyone can invest in assets, regardless of the outdated restrictions. This also makes a room for the customers so that they can settle for owning one piece of a plot on their own. They can even make a choice for their real estate investments throughout the world as they are likely to see it. A person can easily work on the research development projects in Dubai from their home located in California. They can also lend their money to one via a peer-to-peer exchange, above all, these processes could be performed without the interference of any of the third parties. If they reconsider their decision, they don’t have to call their bank and wait for a seller’s market. They simply withdraw their investment and have the power to direct it somewhere else more lucrative.
The consumers could also be benefitted if the major energy players get switched to a decentralized blockchain framework. Looking to read more about How Centralization Is Paralyzing Society; read it here.