Bitcoin has been considered to be the next paradigm shift in the financial industry. Even if the system is still in its infancy, it is being considered to revolutionise how people exchange and store value. Few areas which would have a great impact on the world around us are: Identity and authentication is an important part of financial inclusion. One name built on Blockstack uses the Bitcoin Blockchain to make it easy for users to register and manage blockchain IDs. There is BlockVerify which uses the blockchain technology to improve anti-counterfeit measures and bring transparency to supply chains in different industries like pharmaceuticals, luxury items, diamonds and electronics. A blockchain is a distributed database that maintains a continuously-growing list of records called blocks secured from tampering and revision. Each block contains a timestamp and a link to a previous block. This makes it the best platform for notary services. The bitcoin blockchain can be used to issue digital assets which include everything from land or gold ownership to bonds, equities, derivatives, loans etc. Bitcoins are divisible up to eight decimal points, so one can pay the smallest amounts easily (micropayments).

(Inc42)