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Blockchain triggers new Industrial revolution?

Juhi Banu | Oct. 3, 2017
Blockchain triggers new Industrial revolution?

New technology is changing the way our lives and work collaborate. No longer is it sufficient for organizations to stick to the status quo. As a matter of fact, Blockchain is a revolutionary technology behind Bitcoin. It can be applied in every industry. But is it true that Blockchain triggers new Industrial revolution?

3 October, AtoZForex - In the very beginning, blockchain technology was thought to be the next generation of fintech infrastructure. However, people often make the mistake of thinking that the Industrial Revolution was a phenomenon that took place around the world.

In fact, it took decades for inventions like the steam engine and cotton gin to spread, improve their functionality, and make a major impact in the lives of everyday people around the globe. The steam engine itself is just one example. Although rudimentary versions of steam engines existed as far back as the early 1700s. It wasn’t until a century later that the technology-powered the British Isles to world conquest.

Blockchain triggers new Industrial revolution?

Fast forward another two centuries, the wave of digitalism began in the late 20th century. Many scholars equated it as something of an “Industrial Revolution 2.0.” The first revolution looks ready to lurch into another future age. Especially as the increasing jobs in technology, the shared economy, and online platforms show the way forward.

The one thing that unifies them all is the Internet. The first wave of internet-based employment innovations brought websites like Monster and Indeed, online job applications and remote work. The second wave brought digital workspaces like Slack and app-based employment. The online job economy is still fraught with shortcomings for everyday people looking for work.

Thankfully, this digital revolution is by no means over, as we are still improving. Just as it took many years to perfect the inventions of the Industrial Era, the online job market now finds itself as an ideal candidate for one final upgrade: Blockchain.

Moreover, adopting Blockchain technology could actually make good on the promise of horizontalized, decentralized, free, open and fair work. Right now in the Blockchain space, there are a number of job portal innovations that, although still in their infancy. It claims they can bring us to “Industrial Revolution 2.1.” Two platforms lead the way.

Explaining Blockchain projects in a nutshell

Ethlance is a job portal of Ethereum network. Although considered as a pioneer, it may have entered the fray before a critical mass reached.

Chronobank aims to be a recruitment portal and disrupt Human Resources departments around the world. Chronobank, for now, has a strict focus on certain professions like warehouse staffing and construction, so it may not provide the solution for everyone.

A recent and particularly notable development in the space is bitJob in Israel. Aimed at students specifically. bitJob has identified the ideal demographic ready to experiment with new technology. However, it is one with skill-sets perfect for the internet age. And also ready to take on part-time or online jobs as they go about their schooling.

With a complete ecosystem built on their own STU Token (for which the token sale is currently underway), bitJob is a global endeavor, leveling the playing field for students around the world to earn fair value from their talents quickly and directly. Further, the ecosystem includes marketplaces with deep STU discounts on school gear and travel for users.

And perhaps most importantly, bitJob offers Paypal functionality that can turn students’ digital currencies into cold, hard cash, just in time for the weekend. In one hundred years’ time, when they write articles about “The Digital Revolution,” it’s likely that Blockchain will be remembered as the final piece of the puzzle towards a truly digital era. With every new project that develops on the ideas of prior generations, we get closer to a world where fair work earns fair pay all around the world.

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ, nor should they be attributed to AtoZMarkets.