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Where Blockchain is Used

Where Blockchain is Used: the Use of Blockchain Technology in Different Areas

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Blockchain technology has attracted public attention thanks to the crypto-currencies (namely Bitcoin). However, the prospects of using blockchain technology in everyday life are much broader than in the financial sphere. In which areas the introduction of blockchain technology is the most promising? Where cryptography is used now, and where the launch of such technologies – the question of several years, if not months?

Blockchain in the Financial Sphere

Blockchain in the financial sphere

Most ordinary people, only superficially familiar with blockchain, associate this technology with Bitcoin and other digital currencies. Meanwhile, even in the financial sector application of the blockchain is not limited to the release of new versions of cryptanalyst.

For example, an interesting example of the creation of kleptomanka, Polybius. Its founders initially did business on production of the equipment for a mining, and made, cryptocurrency. When they started having problems with money transactions (banks simply did not want to serve a firm engaged in such “frivolous” activities), the team decided to open its own Bank, where blockchain is used in most processes.

First of all, the blockchain helped the founders of the crypto Bank to attract additional investments through ICO. In addition, the entire document flow of the financial structure will be conducted on the blockchain (Emercoin technology is used for this purpose). Bank transactions-another operation where blockchain is used.

Read also about cloud mining: That it how to use also the calculator of earnings.

Moreover, the ability to conduct transactions through the blockchain and consider quite traditional banks. The most obvious option for such purposes is the ripple platform and the cryptocurrency of the same name. Thanks to the use of blockchain technology, almost any amount can be transferred from any point of the Earth via Riplets, automatically converting from one currency to another. For example, an entrepreneur from the United States can transfer money to his partner in Germany, and the amount in dollars will come to the recipient’s account in euros, and the procedure will take only a few minutes.

Interesting solutions offers yet another scriptbank, Crypterium. In addition to the blockchain transactions that have already become standard in this sphere, the project offers mobile payments with cryptocurrency with additional benefits such as loyalty programs, cashback, etc.it is Assumed that such banking will be convenient not only for individuals, but also for business: cryptocurrency equaring will allow you to control all points of sale through a single system built on the blockchain. In addition, the Bank’s customers will have access to the usual services of deposits and lending, but with the convenience and security of smart contracts.

Blockchain in Medicine

Blockchain in medicine

In almost all areas where you can use the blockchain, it acts as a universal data store that is almost impossible to hack and modify. In addition, this data may be accessed by any user with the appropriate rights.

Medicine is one of the areas where data storage and processing is a key factor. How quickly doctors receive the results of the examination or the history of the disease, can affect the health, and even the life of the patient. Blockchain technologies allow entering all data into the patient’s card, and even doctors of another city or country can get access to them, if necessary (for example, if the patient was forced to apply to a medical institution during a vacation or a business trip).

In medicine and previously used mechanisms for storing data in electronic form, but they were limited to one system. Doctors in one country could access the internal Internet resource and get the necessary information, or add new data, but foreign colleagues did not have access to this database. With the use of blockchain specialists from other countries can be safely admitted to the internal resource, previously limiting access to the necessary.

Blockchain-law and Law

If Bitcoin has opened a new format of financial relations, the Ethereum have done the same thing in the legal field. Smart contracts to some extent were present in Bitcoin, but it is on the Ethereum platform that each user can create a full-fledged legal basis for their business starting with a contract for the purchase of a mobile phone via the Internet, and ending with the registration of their own business with access to ICO, the launch of an internal cryptocurrency and other

There are countries where blockchain is used by state bodies to simplify the management of state property and legal regulation. Such mechanisms are being actively implemented in Estonia (previously electronic citizenship could be obtained in this country).

On the basis of smart contracts is now possible to register the marriage, and even to virtual citizenship in the Internet there is a full kryptonate Bitnation. This community has its own citizens, ambassadors and even the real site.

The Blockchain in Other Areas

There are many areas where blockchain technology can be applied. This sphere of real estate-tokenization of ownership rights to knowledge and land at times increases the liquidity of assets and enables even small investors to enter into transactions. Blockchain is also used in the energy sector – tracking energy reserves at various points (gas stations and stations), as well as in entire regions, allows optimizing supplies. By using smart sensors in pipelines and storages, you can improve control and reduce the risk of theft.

The application of the blockchain and the Internet of things is a separate issue. This “bundle of innovations” can be used in various fields such as industrial manufacturing, agriculture, mining etc. many Such examples and they all prove that the technology of the blockchain has a great future, which is not only limited to crypto currencies.

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