Over the past few years, the global investment in blockchain technology has increased to more than double, says the IDC report. In 2017, the spending on blockchain was $945 billion, and $2.1 billion in 2018. Based on this statistic, it is quite evident that the impact of blockchain is more than ever.
Well, it is not just the finance and banking sector that is deploying blockchain in their businesses. But various other industries, such as healthcare, gaming, transportation, e-commerce, social media, and many more are opting for this technology.
If you are wondering what the reason for the massive adoption of blockchain is, the answer is decentralized apps. Unlike centralized apps, dApps work on a peer-to-peer basis, which eliminate the need for a third person to carry out transactions. Thus, it makes business operations more secure, transparent, and resistant to censorship. Well, this is the reason why there is a massive demand for decentralized app developers. In this post, we will look at some of the sectors that dApps took by storm.
Currently, most e-commerce businesses are dependent on third-party APIs to carry out various processes, such as payments. As a result, customers face some challenges, including transaction delays, payment failures, and frauds. Fortunately, dApps can resolve these issues while improving customer experience and engagement. As mentioned already, dApp works on a peer-to-peer basis, which eliminates the need for banks and any third-party.
When it comes to transportation services of today, there is still not any transparency in revenue to the passenger. Therefore, to ensure everything is transparent between the service provider and the customer, decentralized apps come into the picture. Dapps can revamp the revenue model used in transportation apps so that the chances of money fraud turn null. Some blockchain features, like quick transactions, peer-to-peer payments, and reduction in cost per transaction can revolutionize transportation to more secure and transparent.
- Gaming industry
For several decades, gaming has been one of the most profitable industries, powered by the internet. However, this industry has also undergone manipulation for various reasons, to improve its distribution, increase player retention, and more irrecoverable costs. There have been numerous cases in the past when developers and game owners purposely manipulated the system for different reasons.
Decentralized gaming apps can solve the issues that gamers have been facing such as transaction frauds, data breaching, and so on. Unlike centralized gaming apps, decentralized apps run on a network of a distributed computing system. Since there is no single server controlling the data, it is more transparent and non-manipulative.
- The mobile app development industry
Another industry that is greatly influenced by dApps is the mobile industry. Undoubtedly, today, we have numerous technology stack, tools, and programming languages that focus on making our online businesses more secure. But online malware is also increasing simultaneously. With our technology, hackers are becoming smarter too.
That’s where dApps come into the picture, as due to their distributed architecture, they offer better protection against cyber-attack. Plus, the elimination of third-party in the dApps keeps you away from centralized payment methods, which are slow, inconvenient, highly-priced, and come with security issues.
Several types of research are going simultaneously to improve the healthcare industry and find a cure for various lethal health concerns, like cancer, AIDS, and virus. But to make this research more effective, there should be a junction where all the studies and results of experiments combine to find a suitable cure. With the help of dApp, you can overcome challenged like this at ease. These decentralized apps can help doctors and scientists from all over the world to share information in real-time, and each doctor can have access at the same time.
Apart from this, peer-to-peer technology is prevalent in various other sectors, such as gaming, agriculture, transportation, and so on. Additionally, due to several past incidents in history where centralized social media networks breached users’ privacy, there is a surge in demand for decentralized social media app development services. In contrast to centralized social media networks, decentralized platforms are more secure, transparent, and rewarding.
If you are searching for a reliable company that offers decentralized application development services, feel free to contact our experts at Steem Experts. We have a team of experienced dApp developers who have hands-on training and in-depth knowledge in creating decentralized applications.