How is blockchain beneficial for Non-Crypto Industries?

15/mar/2019 08:30:08 sarahjennni Contatta l'autore

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It is a surprise if you find yourself attracted to this sector. In fact, it would be the most natural thing to do, given that it is now being treated as a prominent technology for the future.


When we talk about blockchain application , the first thing that comes to our minds is what the real world uses, or if it has one. The good news is that blockchain is much more than just a platform for cryptocurrency to operate.


In the most basic terms, the block is a technology that provides a way for performing and transparent transactions involving digital assets like cryptocurrencies. In technical terms, it is a decentralized, distributed public ledger that verifies and stores all transactions that pass through it. As a technology, the blockchain has immense applications in every sector which involves a digital transfer of valuable assets and / or information.

 


The problem with cryptocurrencies like Bitcoin is that they are highly volatile in nature. This limits their general uses by a large audience. However, the underlying technology, blockchain, is not limited by any such issues. It has the power to be used in relevant applications in a wide range of industries. Following are some of the most significant benefits of a variety of sectors:


Supply Chain


The major problems of the supply chain industry include lack of transparency and high cost. Blockchain can effectively deal with these issues by providing a secure way of tracking.

Accounting and Record-keeping


Security concerns a great deal with online storage of records and any type of digital files. Blockchain provides a secure way for not only storing but also transferring such records without any human intervention and less chances of error.

voting


Voting is one of the areas that are seeing active use of blockchain-based applications. Even the fraudulent elections were conducted.

freelancing


Freelancing is one of the fastest growing industries around the globe. The freelancers' problems of finding reliable and cost effective platforms for work can be resolved by the blockchain technology. EraSwap is one such project which involves building block-based platforms to allow freelancers to provide services directly to potential clients, eliminating the middleman, reducing the cost and increasing the transparency.

Healthcare


Healthcare, healthcare, healthcare, and medical budgets.

There are many other industries, such as quality assurance, banking & finance, stock exchanges, digital identity and energy supply, which can benefit immensely by the applications based on the blockchain technology. There are more applications out there.


Visit our website: http://www.blocklogy.org/


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