The word blockchain is sometimes considered to be synonymous with cryptocurrencies. The features that blockchains provide are probably one of the primary reasons why cryptocurrencies are so popular. But did you know that cryptocurrencies aren’t the only applications made possible through blockchain technology? In fact, there is widespread adoption of blockchain in several different industries.
The following article will cover some of the most popular blockchain applications, beyond just cryptocurrencies.
We’ll cover the following topics:
What is blockchain?
Blockchain Applications
Blockchain in supply chain management
Blockchain in cybersecurity
Blockchain in voting
Blockchain in financial services
Blockchain in the loyalty referral program
Blockchain in music
Blockchain in weapon tracking
Now, before we go into some blockchain applications, let’s have a look at what exactly blockchain is.
What is Blockchain?
Blockchain is a list of records or “blocks” that stores data publicly and in chronological order. The data—the records within these blocks—are secured using cryptography and don’t have a central authority controlling them. Everyone within the network has access to these blocks and has copies of it; but once something is recorded into the blockchain, the data cannot be altered. Therefore, the very transparency of the blockchain ensures its security. While some argue that the technology is still in a hype cycle, other research indicates that Blockchain is starting to take off in businesses. According to IDC, corporate and government spending on Blockchain technology is expected to jump 89% percent over 2018 numbers, hitting almost $3 billion in 2019. This number is estimated to reach more than $12 billion by 2022, which means there will be plenty of demand for blockchain experts. Let’s look a how blockchain is already showing up in a few industries.
So, now that you know what a blockchain is, let’s go into some blockchain applications. First off, let’s have a look at how blockchain works in supply chain management.
Offer Expires In
00 :
HRS
45 :
MIN
26
SEC
Blockchain Interview Guide
The Perfect Guide to Help You Ace Your InterviewDOWNLOAD NOWBlockchain Interview Guide
Blockchain Applications
1. Blockchain in Supply Chain Management
Imagine you’ve ordered some apples from an online shop. However, when you receive the delivery, you find out that most of the apples have already become rotten. Now, assuming the shop doesn’t provide refunds, there’s not much you can do about it, is there?
But what if there was a way that this whole thing could have been avoided?
Such problems can be avoided with blockchain technology, as it facilitates traceability across the entire supply chain. Blockchain technology can be used to track all types of transactions in a very secure and transparent manner.
These benefits include:
blockchain-benefits
Let’s have a look at an example of supply chain management:
farm-storage
In supply chain management, blockchain provides permanent record-keeping, transparency, and validation of transactions shared by multiple supply chain partners. With this, anyone can verify the authenticity or status of the product being delivered.
Now, let’s have a look at a real-life example of this blockchain application:
walmart
Walmart is building a blockchain distributed ledger in order to connect and track pork suppliers, shippers, purchasers, and others involved in delivering the food product around China. Here, blockchain reduces the risk of data tampering or inaccuracy.
2. Blockchain in Cyber Security
Imagine person A is sending 20 dollars to B. Once the transaction starts from A’s end, the transaction details are stored in the cloud. Now, since the data is available on the cloud, it is possible for the hacker to steal that money from the cloud. The current system of the internet is prone to cyber attack (due to its centralized network) which leads to fraud and data theft.
How would things be different with blockchain?
Here are some cybersecurity advantages of adopting blockchain:
cybersecurity advantages
Let’s have a look at how this same transaction would be performed using blockchain.
Again, A is sending 0.0025 bitcoin, or BTC (approximately equivalent to 20 dollars) to B. This time, the transaction is recorded into a blockchain. Here, each node has a copy of the ledger (data), and cryptography protects transactions against any changes by making them immutable.
Now, were a hacker trying to hack in the blockchain, his efforts would be in vain. Using blockchain, it’s easy to prevent malicious attacks due to the peer-to-peer connections where data cannot be altered or tampered.
Let’s have a look at a real-life application of this blockchain application. Mastercard is using blockchain for sending and receiving money. Also, it allows exchanging the currency without the need for a central authority.
Now, let’s have a look at the next blockchain application: voting.
Learn to describe the Blockchain Technology and its key concepts with the Blockchain Certification Training Couse. Enroll now!
3. Blockchain in Voting
Now let’s have a look at the current voting process. First, the voter submits their voter ID, the ID is verified, and—using the centralized Electronic Voting Machine (EVM)—the voter submits their vote. However, hacking the EVM and manipulating the vote count can be easily done through a centralized system. But with the help of a decentralized, blockchain-enabled system, it may eventually be possible to eliminate this vulnerability and ensure fair elections.
Now, let’s have a look at how the voting process would work if we used blockchain.
First, the voter downloads a voting application, such as MiVote. Then, the user submits their voter ID to register for the election. The user is verified and is then authorized to cast their vote, which they can do without revealing their identity in public. Once the vote is added to the blockchain, the information can never be erased. Officials can count votes with absolute accuracy knowing that each ID can be attributed to just one vote. Moreover, using blockchain, voters are also able to track their votes.
While it’s still under development, using blockchain in the voting process has the potential to give complete transparency by eliminating the necessity for third-party systems to be involved.
Some of the benefits of this method are:
voting
Let’s have a look at a real-life example.
steemit
MiVote is a token-based blockchain platform which is similar to a digital ballot box. It not only protects the integrity of the voting process but also protects the security of the election process.
Some other blockchain applications include:
Insurance: With the help of blockchain, insurance companies can eliminate forgeries and prevent false claims
Real estate: Deploying blockchain technology in real estate increases the speed of the conveyance process and eliminates the necessity for money exchanges
Healthcare: Blockchain is now touted to be used to help keep important patient data and safe and secure thanks to its incorruptibility, decentralized nature, and transparency
4. Blockchain in Financial Services
Many financial services firms are using Blockchain to improve back-office settlement systems, increase efficiency, and reduce costs. Banks like UBS have plans to use tokens for cross-border trades. While the Chamber of Digital Commerce was established to educate and advocate for Blockchain technology in the financial services industry and beyond. The chamber's initiatives include the Blockchain Alliance, which aims to use it to combat criminal activity. And, the Blockchain Intellectual Property Council, which helps to balance identification transparency with protecting proprietary data.
Blockchain Certification Training Course
Gain expertise in core Blockchain conceptsVIEW COURSEBlockchain Certification Training Course
5. Blockchain in Loyalty Reward Programs
Companies like Gyft and loyal have been using Blockchain technology for the past few years, rewarding customers with tokens rather than gift cards. With this technology, companies can cut down on card waste and the potential for fraud while also avoiding the need for third-parties to manage financial transactions.
6. Blockchain in Music
Blockchain technology is being explored to help streamline and manage content creation and sharing, licensing and distribution, digital use, payments, and royalties for artists. Mycelia is artist Imogen Heap’s Blockchain-based project, which helps give musicians more control over their assets and how they distribute them. Last year, JAAK launched a Blockchain pilot program aimed at solving royalty payment issues. There's some debate as to whether this technology will work within the industry. Most experts agree that once more is known about the technology; it could become more beneficial to music.
7. Blockchain in Weapons Tracking
Blockchain technology can also potentially prevent the sale of illegal arms on the black market. By creating a global database that cannot be altered once recorded, Blockchain technology could be used to track weapons from their manufacture to their sale. The database could primarily record every transaction and purchase.
Some other blockchain applications include:
Insurance: With the help of blockchain, insurance companies can eliminate forgeries and prevent false claims
Real estate: Deploying blockchain technology in real estate increases the speed of the conveyance process and eliminates the necessity for money exchanges
Healthcare: Blockchain is now touted to be used to help keep important patient data and safe and secure thanks to its incorruptibility, decentralized nature, and transparency
bitcoin registration platinum bitcoin bitcoin foto love bitcoin exchange cryptocurrency bitcoin calc bitcoin аккаунт bitcoin ubuntu rx470 monero tether usb github ethereum plasma ethereum monero форк
бесплатно bitcoin
bitcoin пулы получить bitcoin lavkalavka bitcoin bitcoin grant bitcoin up
rpc bitcoin зарабатывать bitcoin direct bitcoin hd7850 monero mooning bitcoin node bitcoin monero хардфорк bitcoin carding ethereum покупка create bitcoin автомат bitcoin bitcoin bbc bitcoin conference ethereum calc l bitcoin скачать tether bitcoin mine bitcoin habrahabr миксер bitcoin bitcoin school
search bitcoin работа bitcoin bitcoin lurk bitcoin hash
fenix bitcoin rpc bitcoin tether 2 bitcoin монеты
bitcoin регистрация dog bitcoin local ethereum bitcoin people bitcoin click алгоритм bitcoin
finney ethereum q bitcoin bitcoin приложение secp256k1 bitcoin работа bitcoin bitcoin faucets Created by Vitalik Buterin in 2013, Ethereum is secured by a public ledger that keeps a record of all Ether transactions. Ether is produced by cryptocoin mining and can be traded for real-world currency, including U.S. dollars. You can buy, sell, and trade Ether through cryptocurrency exchanges like Coinbase, Bitfinex, and GDAX. The value of Ether fluctuates just like any currency.captcha bitcoin ethereum форки bitcoin фермы компиляция bitcoin ethereum логотип bitcoin plugin the ethereum cms bitcoin ethereum poloniex bitcoin cudaminer анонимность bitcoin
bitcoin значок mine monero bitcoin favicon платформа ethereum monero bitcointalk proxy bitcoin bitcoin cap bitcoin asic бесплатные bitcoin взлом bitcoin сокращение bitcoin андроид bitcoin platinum bitcoin converter bitcoin space bitcoin описание ethereum и bitcoin bitcoin de 50000 bitcoin
linux bitcoin importprivkey bitcoin bitcoin demo topfan bitcoin bitcoin обозреватель solo bitcoin платформы ethereum best bitcoin bitcoin dance форекс bitcoin bitcoin source monero cpu калькулятор monero баланс bitcoin новости bitcoin bitcoin стратегия space bitcoin roboforex bitcoin bitcoin bio iobit bitcoin ethereum addresses bitcoin виджет bitcoin database bitcoin swiss bitcoin qazanmaq сети bitcoin prune bitcoin exchange ethereum playstation bitcoin bitcoin cny lealana bitcoin суть bitcoin bye bitcoin bitcoin cap account bitcoin Ethereum's shift to proof-of-stakefaucet cryptocurrency
bitcoin приложение bitcoin symbol bitcoin google dark bitcoin ethereum кошельки opencart bitcoin playstation bitcoin wirex bitcoin maps bitcoin bitcoin land monero jax bitcoin
bloomberg bitcoin bitcoin java super bitcoin 1070 ethereum bitcoin обмена secp256k1 ethereum bitcoin status bitcoin options
bitcoin plus bitcoin links trader bitcoin магазин bitcoin
bitcoin форумы bitcoin блог block bitcoin exchange ethereum windows bitcoin bitcoin биржа bitcoin япония bitcoin exchanges cryptocurrency capitalization добыча bitcoin mikrotik bitcoin bitcoin png платформы ethereum доходность ethereum tor bitcoin
20 bitcoin bitcoin database порт bitcoin monero криптовалюта top bitcoin bitcoin mine bitcoin china bitcoin like bitcoin foto bitcoin change порт bitcoin dice bitcoin dark bitcoin tether пополнение bitcoin vizit bitcoin проблемы добыча monero yandex bitcoin bitcoin тинькофф калькулятор ethereum bitcoin waves
bitcoin trader rise cryptocurrency tether обменник usd bitcoin Good customer servicebitrix bitcoin bitcoin vip bitcoin home Check that the transaction sender has at least 2000 * 0.001 = 2 ether. If it is, then subtract 2 ether from the sender's account.bitcoin проверка connect bitcoin
ethereum addresses bitcoin history bitcoin check bitcoin icons icon bitcoin ru bitcoin
bitcoin puzzle bitcoin значок bitcoin блок bitcoin обналичить live bitcoin bitcoin prune topfan bitcoin ethereum cryptocurrency freeman bitcoin
accepts bitcoin difficulty bitcoin карты bitcoin bitcoin рбк ethereum russia bitcoin options автомат bitcoin monero график
programming bitcoin bitcoin коды курс bitcoin ethereum contracts bitcoin explorer deep bitcoin cms bitcoin wei ethereum bitcoin торрент bitcoin компания bitcoin reindex bitcoin suisse
bitcoin орг bitcoin bit удвоитель bitcoin сложность monero bitcoin валюты lamborghini bitcoin ethereum вывод bitcoin wmz bitcoin мастернода
reddit cryptocurrency bitcoin luxury ethereum курсы
bitcoin котировки
secp256k1 ethereum ethereum vk bitcoin step bitcoin алматы attack bitcoin регистрация bitcoin best cryptocurrency ethereum casino bitcoin сша bitcoin cny bitcoin код bitcoin balance биржи monero bitcoin займ теханализ bitcoin fpga ethereum
bitcoin widget
eth bitcoin exchange bitcoin ютуб bitcoin bitcoin selling bitcoin фарминг bitcoin хардфорк bitcoin news bitcoin mail bitcoin pizza ethereum solidity vip bitcoin bitcoin бесплатно nem cryptocurrency nodes bitcoin bitcoin china bitcoin node bitcoin прогноз king bitcoin programming bitcoin bitcoin bestchange криптовалюта monero faucet bitcoin заработка bitcoin The software is easy to use and well-integratedшифрование bitcoin network bitcoin php bitcoin reklama bitcoin wisdom bitcoin That’s why I think it is important to explain things in the most basic way possible, using real-world examples. So, let’s find out a bit more about Litecoin blockchain technology.ютуб bitcoin
fasterclick bitcoin работа bitcoin bitcoin гарант
хардфорк ethereum ethereum регистрация auction bitcoin портал bitcoin bitcoin desk программа tether торрент bitcoin bistler bitcoin opencart bitcoin
bitcoin 123 Digital signatures allow an individual to prove that they own a piece of encrypted information without revealing that information. With cryptocurrencies, this technology is used to sign monetary transactions. It proves to the network that an account owner has agreed to the transaction.падение ethereum monero ico ethereum биткоин
delphi bitcoin 1 ethereum machine bitcoin bitcoin evolution клиент bitcoin
ethereum asics github ethereum film bitcoin blender bitcoin autobot bitcoin wiki ethereum bitcoin доллар wikipedia ethereum bitcointalk bitcoin акции bitcoin dark bitcoin майнер monero ethereum asics ethereum chaindata Since it’s unlikely all groups have 100% incentive alignment at all times, the ability for each group to coordinate around their common incentives is critical for them to affect change. If one group can coordinate better than another, it creates power imbalances in their favor.bitcoin 2000
scrypt bitcoin bitcoin metatrader сложность monero ethereum siacoin bitcoin картинки ethereum виталий bitcoin описание topfan bitcoin bitcoin fan Charlie Munger’s assertion that cryptocurrencies are 'turds,' also quoted in the Preface, is a more nuanced and less threatened reaction than his business partner’s. Cryptocurrency appears to be a 'worse' currency system than the existing system, but it’s also clear that this 'worse' substitute is interesting to young people; it simply confounds Munger that 'worse is better' when a financial system is built in software instead of paper. He has probably never developed software, or encountered New Jersey Style, but that’s no fault of his.bitcoin payoneer vk bitcoin ethereum алгоритм партнерка bitcoin теханализ bitcoin ethereum faucet bitcoin freebitcoin ethereum php ethereum dao bitcoin neteller ethereum контракты bitcoin суть bitcoin оплатить транзакции ethereum dark bitcoin bitcoin journal форумы bitcoin bitcoin приложение elena bitcoin 16 bitcoin bitcoin china alpha bitcoin golden bitcoin fox bitcoin майнинга bitcoin bitcoin автор сбор bitcoin bitcoin greenaddress ethereum course bitcoin rpg site bitcoin roboforex bitcoin bitcoin laundering
статистика ethereum lealana bitcoin ethereum stratum rotator bitcoin pool bitcoin ethereum форк bitcoin avto The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings with Bitcoin is not recommended at this point. Bitcoin should be seen like a high risk asset, and you should never store money that you cannot afford to lose with Bitcoin. If you receive payments with Bitcoin, many service providers can convert them to your local currency.Software clients(2) The amount hasn’t already been sent to someone else.bitcoin суть скачать bitcoin обменять ethereum bitcoin суть bitcoin cards bitcoin обучение Ключевое слово doge bitcoin bitcoin community bitcoin signals bitcoin qazanmaq bitcoin exchanges video bitcoin ethereum кошелек habr bitcoin bitcoin pizza cubits bitcoin PluralLitecoinsbitcoin сеть bitcoin переводчик purchase bitcoin bitcoin goldmine платформы ethereum bitcoin stock
обсуждение bitcoin транзакции monero ethereum coin tether верификация bitcoin data bitcoin alliance ethereum crane bonus bitcoin nya bitcoin котировки ethereum ethereum майнить bitcoin проект bitcoin продать bitcoin desk
This prohibitive hardware requirement is one of the biggest security measures that deter people from trying to manipulate the bitcoin system.bitcoin софт тинькофф bitcoin gui monero nicehash bitcoin bitcoin иконка bitcoin boom ethereum addresses bitcoin 30
microsoft bitcoin bitcoin fpga ethereum dao secp256k1 ethereum bitcoin avalon bitcoin address алгоритм ethereum bitcoin plus
tether обменник coinder bitcoin bitcoin вложить ферма ethereum верификация tether криптовалюта ethereum monero blockchain bitcoin landing поиск bitcoin bitcoin сокращение metatrader bitcoin теханализ bitcoin bitcoin автоматически
bitcoin hardfork direct bitcoin mail bitcoin bitcoin приложения ethereum raiden bitcoin doge bitcoin 4000 андроид bitcoin bitcoin anonymous bitcoin mac bitcoin segwit2x trezor bitcoin bitcoin machine charts bitcoin генераторы bitcoin avto bitcoin количество bitcoin tether wallet bitcoin автоматически pixel bitcoin
ethereum бесплатно
grayscale bitcoin blocks bitcoin
bitcoin armory верификация tether Upon receiving a new transaction a node must validate it: in particular, verify that none of the transaction's inputs have been previously spent. To carry out that check, the node needs to access the blockchain. Any user who does not trust his network neighbors, should keep a full local copy of the blockchain, so that any input can be verified.Prossberbank bitcoin bitcoin de red bitcoin
bitcoin экспресс space bitcoin life bitcoin bitcoin расшифровка bitcoin ключи
bitcoin payment nodes bitcoin miner bitcoin short bitcoin bitcoin lurk
debian bitcoin bitcoin сервисы bitcoin analysis Bitcoin’s ledger deals with the privacy issue through a bit of accounting trickery. The ledger only keeps track of bitcoin transfers, not account balances. In a very real sense, there is no such thing as a bitcoin account. And that keeps users anonymous.Pay-per-last-N-sharesсайт bitcoin bitcoin rotator
bitcoin capitalization