The smartphone has a longer history than most might expect, but they’re still a relatively new piece of technology in the grand scheme of things. They’ve changed the way people communicate with one another, and now more impactful adjustments are being made with every new iteration of the smartphone. The changes are becoming bigger, bolder and more consequential.
The industry built around the smartphone is also ever evolving, and now smartphones have begun to redefine how people handle their money, data and sensitive discussions. One of the causes of this is the pressing influence of blockchain, so here’s how it’s affecting the smartphone industry.
It’s no secret that smartphones are a gateway to an online world of dangers and awful people, and safety should be at the forefront of everything people do online. After all, you don’t have to qualify as a morally righteous person to own and use a smartphone. With a swipe of the screen, people can be exploited, abused and have their lives effectively ruined. Blockchain throws a wrench into the plans of these online wrongdoers.
Blockchain technology has surfaced with a principle goal; safety. In its simplest form, blockchain is the safe storage of information located across many computers, while using high end cryptography to keep prying eyes away. This means that users can access information through their smartphone without another person overseeing, or interfering with, their data. It’s digital reliability for the phone and removes the ability of any middle man or ill meaning individual to snoop in on another person’s information.
In a stunning move, the US banking industry has estimated that blockchain could save them $20 billion in middleman fees, which is in an enormous figure. Though we are hereto analyse the effect on the smartphone industry, people have now begun to access their banking information through their smartphones. Therefore, it’s not unreasonable to suggest that the changes in one industry won’t impact another.
Blockchain also makes dealing with cryptocurrencies and bitcoin trading that little bit easier too. Additionally, the blockchain allows people to check their money is going to the right people through a digitised ledger. There’s no fraudulent schemes or chances of interference; the user is in control of their finances alone at a faster rate. All in all, those with a smartphone can transfer their money to the intended parties without worry.
You can’t digitally transfer money without some quality communication first. Of course, with a smartphone interaction can be strained, as they allow users to talk to anyone in the world. Phone numbers aren’t even needed anymore, as emails, ads, notifications, and social media all direct a constant flow of information from, in many instances, people who are unacquainted or even automated bots.
The internet is a world of billions of loud voices, and most of it is white noise. Blockchain refines communication with removing the irrelevant rabble in mind. For example, if a company wants to discuss private business logistics through their smartphone, they can now do so in confidence due to blockchain’s efficiency. It can filter emails in an inbox to be only the most important messages, and make sure uses are viewing only what they want to read.