Trillion-dollar blockchain opportunity

Leading economists found out that blockchain technology could increase global GDP by $1.76 trln over the next decade.

They looked into the existing case uses and evaluated the potential in various sectors from healthcare to retail.

It’s an opportunity for everyone

Most businesses are expected to start using the technology by 2025, and the economic benefits will be rapidly increasing after mass adoption.

Blockchain. Advantages for business

As organizations plan their future, they are looking for ways to improve their performance. Blockchain solves this task perfectly.

One of the main advantages is the potential of blockchain to create, store, and share sensitive data online. For instance, personal records like birth certificates or driver's licenses can be created and viewed in mobile apps for instant and reliable identity verification.

Universities and other accredited organizations are able to create degree and qualification certificates, which graduates can submit to potential employers in one click. They can be instantly verified without the involvement of a third party. This saves time and money and improves efficiency, which can deter fraud.

The modern technology allows tracing the origin and history of anything, but blockchain ensures much better security than other technologies. For example, it can verify the origin of any goods from fresh produce to raw materials or even diamonds. As the goods change hands, records are added, checks and deliveries are registered, and payments are made automatically – all in a secure, auditable, and trustworthy way.

Blockchain optimizes processes by automatically consolidating records in the online mode. This puts an end to inefficient paperwork, reduces the associated risk of human error and oversight, as well as subsequent damage to reputation.

Industry leaders: sectors that will benefit the most from blockchain technology

Economists expect that a wide range of industries will benefit from blockchain technology. Most of its value will be realized behind the scenes. We expect that blockchain will be used by 10% to 15% of the world's infrastructure within a decade.

It seems that the general government, education and health sectors will benefit the most. Economists expect these sectors to get extra $574 bln by 2030 from the efficiency that blockchain will bring to the sector of identity and credentials.

At the same time, there will be more benefits for business services, communications, and the media. Wholesalers, retailers, manufacturers, and construction developers will also benefit from the use of blockchain for engaging consumers and meeting demand for the origin and traceability of goods.

Blockchain is a team sport. It works best when companies team up with their competitors in the industry and lay the groundwork for blockchain: processes, data sharing, and required automation via smart contracts. Once they realize the value, blockchain becomes an integral part of business technology.

🔷 Relictum Pro at Cardano Summit 2022

Cardano Summit 2022 Tbilisi was held on December 3, 2022.

The event united experts and worldwide adherents of blockchain technology: 30+ specialists from the public, financial, and start-up sectors.

The main topics of the summit were the following:

🔹 From Web2 to Web3
🔹 How to implement the blockchain governance principle?
🔹 NEO Banking
🔹 Government and regulation
and others

Alexander Strigin, CEO Relictum Pro, discussed these and other urgent issues related to the future of blockchain technology with CTO Cardano Foundation and other summit participants.

Watch the video report of the event:
👉 https://www.youtube.com/watch?v=LhVgbWDlG3o
13:06 – Alexander Strigin about Blockchain Governance

📲 RELICTUM NODE APPLICATION AVAILABLE IN APP STORE

Dear Relictum Community,

💫 We are glad to inform you that the Relictum Node application is again available for all users of iOS devices.

👉 The application can be found using thіs link

What is a decentralized economy?

A decentralized economy is an economy without a central authority to control the entire economic system. Instead, the economy is regulated by the market supply and demand powers.

Decentralized economies feature peer-to-peer transactions, decentralized decision making, and distributed ownership. In a decentralized economy, power is distributed among the participants, and there is no single point of control.

The decentralized economy development has far-reaching implications. When power is distributed among the participants, it results in a more democratic and egalitarian society.

There is no need for intermediaries in a decentralized economy.

Blockchain technology and decentralized economy in particular are still in their early stages of development, but they are potentially able to revolutionize the traditional centralized economy. DeFi is one of the most promising directions of the decentralized economy.

Although DeFi is still in its infancy, especially with the recent onset of the crypto winter, it is potentially able to experience exponential growth in the coming years.

Relictum Staking rewards

Dear community, please check your wallets!

🥳 GTN token stakeholder rewards have been paid out today.

🤑 Earn profit from from the amount, duration, and income of the network of tokens added in Relictum Staking.

📈 Estimate the staking income using the calculator.

🏖 Get rewards on the 1st and 15th day of each month with the Relictum Node app!

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The Power of Smart Contracts: How They are Revolutionizing Business Operations

Smart contracts are a fascinating technological innovation that is transforming the way we do business. In simple terms, a smart contract is a computer program that automatically executes the terms of a contract when certain predefined conditions are met. These conditions could be anything from a particular date or time to the completion of a certain action.

One of the most exciting things about smart contracts is that...

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Smart contracts for the railway supply chain

Suppose there is a railway company willing to improve its supply chain performance. One of the methods is using smart contracts for freight shipments tracking and verifying automation.

A railway company can create a smart contract containing shipment details such as the cargo type, origin and destination, as well as the approved cargo shipping price. A smart contract may also include payment terms such as a requirement to deliver shipment to its destination before payment...

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Revolution in railroad transportation: how smart contracts are changing ticketing and payment processes

Imagine a smart contract designed to manage and automate the train ticketing process. This smart contract will be stored on the blockchain, which ensures a secure and transparent ledger for all transactions.

When a passenger wants to buy a train ticket, they get access to a smart contract via a user interface – for example, a mobile app or website.

👉 Read more