New technologies have shaped the world, from the discovery of thermal power to electricity and, more recently, the internet. In the twenty-first century, blockchain technology promises a revolution in so many ways. As such, it can enhance almost all the important sectors that comprise a nation.

War is impeded by commerce

IBM’s former CEO, Thomas Watson, believed that trade could keep nations from war against each other. Thomas Watson thought that commercial interests and peace go hand in hand.

Currently, blockchain technology provides a solution in the form of decentralization, the technology’s core principle. A ‘middleman’ or a ‘broker’ is removed, including institutions like banks, financial institutions, and governments.

The advent of Blockchain and World peace

The first thing we need to do is go back in time. Most of you probably won’t know that Henry Ford, an American entrepreneur who pioneered the automotive industry, came up with the idea of blockchain.

1921 was when he presented his concept and vision of ending all wars by eliminating gold as a unit of wealth as well as replacing it with energy, as gold was the source of conflicts.

It is almost uncanny how similar the description and idea are to blockchain technology. The concept and vision of digitizing society and currency were already in place 100 years ago.

Seeing these predictions and visions fragments is fantastic, and even more impressive is seeing these dreams take shape. Almost from the very beginning of electricity, this idea has been around. How come more people haven’t taken advantage of these ideas?

Illegal immigration and blockchain

With blockchain technology, a digital record of a country’s citizens can be kept to prevent illegal infiltration at its borders. Moreover, digital currencies can play a crucial role in eradicating black money throughout the world, stopping violence in sensitive regions, and aiding in the fight against terrorism.

The other side

According to a fact, anything can be good or bad, depending on how it is used, which can be applied here. Blockchain can indeed be used to achieve many positive humanitarian and progressive goals, but if it is not implemented correctly, it can also become a tool for oppression.

Conclusion

Sir Patrick Bijou is a financial expert based in the UK. He has expertise in many fields and can help his clients launch an economic venture. In conclusion, we believe it is fair to conclude that blockchain technology can transform the way we do business. Under the right conditions, it can be used for humanitarian and progressive goals to promote peace and order in the world.

Ultimately, what we decide to do with something as innocuous as a stone- build a bridge or a wall- dictates its destiny.