Blockchain is undeniably huge. Bitcoin alone is enough to show the technology\u2019s potential, but bitcoin as a currency is just one use case. Thinking of Bitcoin and blockchain as synonymous is like thinking that emails and the internet are the same thing. They\u2019re just not.\nThat\u2019s why so many pundits are predicting huge amounts of disruption for industries across the board, from healthcare and real estate to the beleaguered financial industry, which is already aware of blockchain\u2019s potential to disrupt it.\nAnd there are multiple reasons why disruption is inevitable. Blockchain presents us with a more secure way of saving and securing data, which can cut down on fraud, and it can also cut down on transaction times and processing fees. This isn\u2019t necessarily good news for financial companies, who often make their revenue by charging people to send and receive money, but it\u2019s also not necessarily up to them. The market will decide, as it always does.\nThe financial industry is complicated and multi-faceted, and no individual blog post could cover the entirety of the widespread change that it\u2019s about to witness. Instead, let\u2019s take a quick look at a specific subsection: remittance, money transfers and cross-border payments. Here\u2019s how blockchain is set to disrupt it.\nNo more wire transfers\nOur current financial system relies largely on wire transfers, which are backed by traditional banks and other financial institutions. It\u2019s a reasonably good system, but one of the problems with it is that it takes time to process transactions. Blockchain-based companies can outmaneuver traditional wire transfer companies be offering a fast, cheap and secure system to transfer money from one part of the world to another.\nThird-world disruption\nThe constant speed of innovation means that many third-world countries are seeing a boom in smartphone ownership thanks to the declining cost of hardware. In some of these countries, there\u2019s a poor banking infrastructure or concerns about the long-term value of the national currency. Digital transactions could well be the solution, especially because blockchain technology allows payments to be processed instantly.\nThis is particularly relevant when you consider that around 40% of the world\u2019s population doesn\u2019t have a bank account and that money is flowing from developed to developing countries at a mindboggling rate. Over $429 billion was transferred in 2016 alone, and it\u2019s likely that this flow of money will continue for years to come.\nCheaper processing fees\nFor people who regularly send money internationally, the processing fees can quickly add up. Blockchain technology removes the monopoly that traditional banks hold on the market, and that means that processing fees are virtually non-existent. If one provider charges more than another, people will simply switch to the cheaper provider. It\u2019s in the interests of providers to cut overheads for customers as much as possible.\nThis is bad news for traditional remittance companies, though. The average cost of sending remittances is over 7.5% of the overall transaction, and these fees often hit the people who are the hardest off. But when they\u2019re transferring money internationally, it\u2019s not always out of choice and often comes out of necessity. If they can avoid those processing fees, they will.\u00a0\nIncreased transparency\nYou\u2019d think that the potential for anonymous payments would lead to less transparency, not more. It\u2019s certainly true that it\u2019s harder to track where money is flowing to and from, but it\u2019s also true that both sender and recipient know exactly where their money is. There are no long periods in limbo in which the money is lost in the ether between the two accounts.\nAnother element to this transparency is the lack of centralization. There\u2019s no organization or government that can act unexpectedly \u2013 such as by adding or removing cash from circulation \u2013 and this helps to build confidence in digital currencies and blockchains.\u00a0\nNear impenetrability\nOne of the big advantages of Blockchain is that it\u2019s very difficult for hackers and fraudsters to take advantage of it. Banks are centralized, and that makes it easier to compromise them \u2013 but with blockchain, everything is tracked on a ledger which stops people from spoofing it or creating fake data.\nFraud is a huge problem for the financial industry, so you\u2019d think they\u2019d be quick to adopt a new technology that could help them to deal with the problem. It\u2019s true that some large institutions \u2013 including the Bank of England \u2013 are starting to experiment with blockchain and other technologies to investigate their potential. But regulation and hesitancy could cripple them before they begin, meaning the marketplace is ripe for a small startup to come in and disrupt it.\nWhat\u2019s next?\nDisruption from blockchain is inevitable, no matter what industry you\u2019re working in. The technology is still in its youth, and so there\u2019s plenty of space for disruption across the board as entrepreneurs wise up to the potential of blockchain technology. The only real questions are when it will happen and what it will look like.\nThe good news is that if you\u2019re quick off the mark, you\u2019ll get to define the answer to both of those questions, and if you\u2019re able to reap the rewards of the secure data transfer and storage that blockchain technology has to offer then you\u2019ll quickly leave your competitors in the dust.\nBlockchain disruption is coming. It\u2019s up to you whether you prepare yourself.