Blockchain is one of the leading technologies. It is used to build many applications.
Asset management: Traditional asset management was a bit risky when it involved cross-border transactions. Each party in the traditional system has its own records which creates the error. This error is overcome by encrypting the records. Also, the need for intermediate is abolished as the parties can communicate directly.
Smart appliances: Connecting your devices to the internet using blockchain adds to the durability of your device. It notifies you to turn off the device when the task is completed. You need not be near your laundry just to turn off the machine, you can concentrate on other work when the device keeps working.
Healthcare: Blockchain can be used to maintain a record of the medication, surgery. It can be directly sent to the insurance provider to avail of insurance. It can keep a track of receipts and payments confidentially.
Music Industry: There are a lot of problems when it comes to the music industry. This includes ownership rights, distribution issues, etc. Blockchain along with smart contracts can circuit this problem by creating a decentralized database.
Passport: The first digital passport was launched on GitHub. One should take a picture of himself and stamp with its public key and private key to prove that it is legitimate. The passport is stored in a ledger with public IP.
Asset management: Traditional asset management was a bit risky when it involved cross-border transactions. Each party in the traditional system has its own records which creates the error. This error is overcome by encrypting the records. Also, the need for intermediate is abolished as the parties can communicate directly.
Smart appliances: Connecting your devices to the internet using blockchain adds to the durability of your device. It notifies you to turn off the device when the task is completed. You need not be near your laundry just to turn off the machine, you can concentrate on other work when the device keeps working.
Healthcare: Blockchain can be used to maintain a record of the medication, surgery. It can be directly sent to the insurance provider to avail of insurance. It can keep a track of receipts and payments confidentially.
Music Industry: There are a lot of problems when it comes to the music industry. This includes ownership rights, distribution issues, etc. Blockchain along with smart contracts can circuit this problem by creating a decentralized database.
Passport: The first digital passport was launched on GitHub. One should take a picture of himself and stamp with its public key and private key to prove that it is legitimate. The passport is stored in a ledger with public IP.
The future of Blockchain is bright and playing an important role in everyday life ... Path in Blockchain, is, obviously, new as well as innovative however it’s a bright future for sure.
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