Cryptocurrency is all over the Internet, thanks to Blockchain technology. People consider it to be revolutionary not because it is new, but it serves you some of the best real-world applications! Blockchain, born with bitcoin, is a great platform for building various transactional and contractual based cases.
What is Blockchain
It is a continuous growing list of records, often called as Blocks. Blockchain is a digital ledger which is used to maintain various transactions based on Bitcoin and other cryptocurrencies. It is a software platform for digital assets. If we look at the design, it is decentralized technology.
Amazing real-world Applications
Wherever you look, you will find many real-world examples of Blockchain! These applications are changing the world in a better way. Don’t believe us? Look at these amazing applications of this Technology!
1. Health Care
This is just the beginning! You will be surprised to see how blockchain technology influence healthcare field.
The Center for Disease Control (CDC), along with a cybersecurity company Gem, is now using blockchain technology to track disease outbreaks. This will increase and improve disaster relief and response!
An MIT project is based on blockchain technology. The electronic medical records are designed to manage, authenticate and helps in data sharing.
ConnectingCare interface which tracks the progress of patients after they leave the hospital. Health Nexus offers decentralized patient records.
This might be the most important real-world example of this revolutionary technology! People can maintain their health and CDC can control and regulate outbreaks of various diseases.
Also called as computer security, IT security comprises various processes and controls to protect your system from any theft. It is a technique of protecting your system from software or hardware failure. You will be shocked to know that Blockchain is revolutionizing cybersecurity. Smart Contracts and block-chain technology is making your cybersecurity easy! Smart Contract is a computer protocol used to enforce conditions in your transactions.
What if I say you that you no longer have to set a password or use password in daily life? Shocked? Well, REMME with the help of blockchain is making password a thing of the past.
Have you heard about “keyless” signature? GuardTime is a company which is creating “keyless” signature systems.
Remember the day when you overcooked cookies? The heartbreaking moment, right? Your cookies are burnt, your efforts are gone waste, electricity waste! But Blockchain can help you and your devices to avoid such situations. Smart appliances are devices that connect to the Internet and give you information about your device. A code which is connected to your device can be linked to the Internet and alert you when your cookie is done or when your laundry is done! This will keep your appliances in a better condition, save your time and electricity!
Supply Chain sensors
Sensors help to track the supply chain visibility. It provides data about the location and condition of the supplies as they are transported around the globe. This technology helps to stores, manages, protects and transfers this smart information.
ABRA – It is a cryptocurrency wallet. ABRA uses the Bitcoin blockchain to hold and track balances stored in a different type of currencies.
Barclays – Barclays has launched a number of blockchain initiatives. It involves tracking transactions, compliance and combating fraudulent activities. It believes that blockchain is a fundamental part of the new operating system for the planet!
Maersk – The shipping consortium has unveiled their plans for a blockchain solution. This technology will be used for streamlining marine insurance.
5. Digital IDs
Thousands of people face the problem with digital IDs. We have a range of identifications, driver’s license, keys, social security ID, passwords, etc. Blockchain ID is a digital form of ID which is designed to replace all other forms of physical identification. In the future, you will be able to use just one digital ID for signing up at any registrar.
6. Copyright protection
Today, it is just a matter of seconds to access anything on the Internet. You are just a click away from your desired source. And with this kind of service, you need copyrights protection and ownership laws. People can easily copy your content and claim it to be their property.
With blockchain, those copyright laws would be more effective!
The major aim of this service is to provide greater transparency to charity donations. It clears links between giving and project outcomes. It is working with other established charities including Save The Children and The Water Project.
8. Digital Voting
Elections are very hard to manage. Are you worried about voter fraud?Well, blockchain offers the ability to vote digitally. But the method is transparent so, any regulators would be able to analyze if something was altered on the network. The unchanging nature of blockchain will make your vote count!
9. Food safety
Well, we can’t live without food! What if I tell you that you can keep a check on your food and food transport!
Yet another intriguing application of blockchain could be in tracing food from its origin! You can trace the transport of food products from their origin to the market. If there is any food-borne illness in a region, it will allow you to trace the transportation route!
10. Workers’ rights
Another very interesting use of blockchain is to bolster the rights of workers! According to the International Labor Organization, around 25 million people worldwide are forced to work as a labor. Coca-Cola, along with other partners, is working on a blockchain registry with smart contracts protocols. This will verify, facilitate, or enforce a contract to improve labor policies!
So, these were some real-world examples for you. Blockchain certainly has plenty of amazing applications! One important thing to note is, for the blockchain to work efficiently, the node-to-node network must be motivated and must abide by ethical standards. If and only if these standards are maintained, blockchain can become a powerful tool!
Tech-savvy and a passionate blogger. I have done software engineering from the University of Mumbai. Technology Specialist 2.0 in DOT NET. I also have my personal website http://glamourbytes.com/