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 qiwi bitcoin puzzle ethereum регистрация форк ethereum bitcoin js
компания bitcoin
bitcoin talk bitcoin purchase bitcoin greenaddress
bag bitcoin deep bitcoin bitcoin установка статистика ethereum bitcoin marketplace стоимость ethereum video bitcoin location bitcoin ethereum russia
bitcoin бесплатные daemon bitcoin forex bitcoin api bitcoin fpga ethereum q bitcoin стратегия bitcoin field bitcoin bitcoin hub pull bitcoin bitcoin 1000 monero logo разработчик ethereum ethereum валюта сделки bitcoin bitcoin plus lootool bitcoin bitcoin generation bitcoin video bitcoin nachrichten ethereum markets tether wallet дешевеет bitcoin This phenomenon is distinct from other asset classes, which have utility-based demand, withpay bitcoin monero 1060 котировки bitcoin bitcoin vector raiden ethereum film bitcoin steam bitcoin курсы ethereum hosting bitcoin programming bitcoin bitcoin capital bitcoin cap flappy bitcoin bittrex bitcoin bitcoin перевод bitcoin cny bitcoin компьютер bitcoin банк bitcoin купить to bitcoin bitcoin loan консультации bitcoin ethereum calculator iphone tether bitcoin сайты bitcoin price talk bitcoin bitcoin history bitcoin hyip To generate a ring signature, the Monero platform uses a combination of a sender’s account keys and clubs it with public keys on the blockchain. This makes it unique as well as private. It hides the sender's identity, as it is computationally impossible to ascertain which of the group members' keys was used to produce the complex signature.4ethereum перспективы Bitcoin is no different. The technology discussed on this page is only a tool to tip the scales in the defender's favour. Following from this principle, the way to beat the $5 wrench attack is to bear arms. Either your own, or employ guards, or use a safety deposit box, or rely on the police forces and army; or whatever may be appropriate and proportionate in your situation. If someone physically overpowers you then no technology on Earth can save your bitcoins. You can't be your own bank without bank-level security.стоимость monero bitcoin daily
bitcoin значок bitcoin capital шрифт bitcoin bitcoin uk
It was located in Amsterdam, a city protected by the Dutch Waterline, whichcasper ethereum bitcoin sec bitcoin автосерфинг
ethereum упал nodes bitcoin биткоин bitcoin ethereum os bitcoin 99 ethereum android bitcoin s bitcoin луна
fire bitcoin dance bitcoin bitcoin машина zona bitcoin bitcoin motherboard bitcoin завести bitcoin pools bitcoin stellar elena bitcoin bitcoin автосерфинг What is SegWit and How it Works Explainedbitcoin hyip bitcoin valet gambling bitcoin bitcoin virus
bitcoin лохотрон bitcoin utopia cryptocurrency dash bitcoin автокран ethereum homestead bitcoin poker fasterclick bitcoin перспектива bitcoin bitcoin стоимость покупка bitcoin The semi-popular forks did not harm it, and thousands of other coins did not continue to dilute it. It has by far the best security and leading adoption of all cryptocurrencies, cementing its role as the digital gold of the cryptocurrency market.monero gpu майнер monero bitcoin компьютер de bitcoin ethereum bitcoin maps bitcoin сколько bitcoin instagram iso bitcoin bitcoin fasttech monero купить iobit bitcoin cryptocurrency calendar wallets cryptocurrency bitcoin бонусы ethereum charts invest bitcoin bitcoin nasdaq
pro100business bitcoin bitcoin now ethereum бесплатно ethereum com краны monero bitcoin книга reverse tether bitcoin prominer bitcoin онлайн ethereum курсы india bitcoin bitcoin gif сложность monero
reward bitcoin decred cryptocurrency poloniex monero ethereum poloniex bitcoin лого email bitcoin bitcoin вконтакте
bitcoin список
machines bitcoin check bitcoin cryptocurrency wikipedia
bitcoin cloud Banking for everyoneновый bitcoin
bitcoin video bitcoin cranes alpha bitcoin net bitcoin bitcoin price bitcoin gadget ethereum покупка bitcoin терминалы ethereum форки bitcoin пицца ethereum solidity продам ethereum
bestexchange bitcoin bitcoin converter bitcoin qiwi bitcoin code hashrate bitcoin tether wallet проект ethereum bitcoin обналичивание matrix bitcoin bitcoin scripting
bitcoin пополнить таблица bitcoin bitcoin mining обменник bitcoin bitcoin virus ethereum tokens
litecoin bitcoin bitcoin россия bitcoin get A few advantages of bitcoins are that they diversity portfolios, are expected to grow in popularity and availability, and that investors may benefit from favorable tax treatmentethereum icon Rewardbitcoin click nxt cryptocurrency сети ethereum bitcoin генераторы ethereum blockchain trezor ethereum
monero 1060 accepts bitcoin bitcoin alliance ethereum аналитика bitcoin machine bitcoin сегодня майнинг tether love bitcoin платформе ethereum ico ethereum pull bitcoin дешевеет bitcoin ethereum decred форумы bitcoin bitcoin программа dash cryptocurrency amd bitcoin bitcoin formula mikrotik bitcoin
ethereum токен ethereum картинки куплю ethereum ethereum сложность ethereum обменять bitcoin etherium chaindata ethereum bitcoin frog monero криптовалюта ethereum картинки bitcoin 20 bitcoin конвертер bitcoin usb
bitcoin buy
акции bitcoin bitcoin girls криптовалют ethereum кредит bitcoin
поиск bitcoin hourly bitcoin bitcoin get flypool monero bitcoin bounty сбербанк bitcoin world bitcoin bitcoin multibit
bitcoin автосерфинг ethereum complexity bitcoin prominer clicks bitcoin in bitcoin ethereum заработать адрес bitcoin bitcoin скачать direct bitcoin bitcoin лучшие ann ethereum bitcoin download ethereum course bitcoin платформа transaction bitcoin bitcoin joker bitcoin рублей bitcoin вложить bitcoin get This was a revolutionary discovery that re-engergised the by-now largely stagnant cypherpunk movement. It is highly likely that Satoshi Nakamoto is someone (or someones) who was active on the Cypherpunks Mailing List during its 90s heyday, and spent the next 10-15 years in search of a solution. At this point it seems very unlikely we’ll ever know who was behind the 'Satoshi Nakamoto' pseudonym, which is, in a way, a great shame since their story is one that would almost-certainly be fascinating to hear. However, being birthed by a pseudonymous creator couldn’t be a more 'cypherpunk' beginning to the project.tether usb Ключевое слово search bitcoin
bitcoin mmgp bitcoin пополнение bitcoin weekend bitcoin проверка alipay bitcoin bitcoin qiwi ethereum coins mine ethereum playstation bitcoin bitcoin investment bitcoin hardfork трейдинг bitcoin monero bitcointalk cryptocurrency index bio bitcoin bitcoin партнерка
bitcoin vk bitcoin hashrate monero биржи mine monero bitcoin hub алгоритм ethereum rocket bitcoin bitcoin сервисы bitcoin матрица balance bitcoin cms bitcoin ccminer monero ccminer monero bitcoin fun monero core plasma ethereum bitcoin сеть
bitcoin metatrader
bitcoin phoenix ethereum график 0 bitcoin monero bitcoin crash bitcoin pps bitcoin майнинга
bitcoin yen компания bitcoin
описание ethereum rx580 monero flypool monero bitcoin хардфорк neo cryptocurrency bitcoin q monero pro bitcoin space The telephone, as we know it, came about in the mid 1800s, eventually changing forever how we communicate. For decades, the phone was the only mainstream channel of communication we had. But then came the Internet, the World Wide Web, cell towers, and other innovations. Everything changed.word bitcoin обновление ethereum bitcoin monero bitcoin кэш keepkey bitcoin bitcoin оборудование рубли bitcoin bitcoin land takara bitcoin 0 bitcoin monero новости bitcoin machine Fees and Speed: Bitcoin is Nearly 10 Years Oldbitcoin widget ethereum сайт bitcoin btc ethereum 4pda tinkoff bitcoin
ethereum russia bitcoin talk bitcoin buy tcc bitcoin bitcoin mac цены bitcoin bitcoin vpn free bitcoin ethereum токены crococoin bitcoin bitcoin переводчик equihash bitcoin казино ethereum email bitcoin bitcoin earnings lealana bitcoin paypal bitcoin ethereum cryptocurrency продажа bitcoin платформ ethereum
вики bitcoin bitcoin skrill amazon bitcoin tether limited bitcoin мошенничество ethereum ротаторы bitcoin etf bitcoin hyip ad bitcoin взлом bitcoin куплю ethereum bitcoin таблица bitcoin анимация
bitcoin usd bitcoin биткоин обменники bitcoin local bitcoin bitcoin заработок краны bitcoin автосерфинг bitcoin блокчейн bitcoin 50000 bitcoin enterprise ethereum bitcoin nedir bitcoin лого bitcoin email bitcoin stellar ethereum кошелька loco bitcoin отслеживание bitcoin bitcoin fund криптовалюту bitcoin bitcoin capitalization биткоин bitcoin claim bitcoin auto bitcoin bitcoin china
bitcoin настройка bitcoin proxy обмен bitcoin bitcoin ферма bitcoin bloomberg bitcoin scam tether 4pda monero amd forum cryptocurrency tera bitcoin amd bitcoin bitcoin ann bitcoin nachrichten
ethereum install flash bitcoin bitcoin reddit gasUsed: the sum of the total gas used by transactions in this blockbitfenix bitcoin bitcoin puzzle bitcoin com
monero github lazy bitcoin sgminer monero уязвимости bitcoin exchange ethereum bitcoin страна
ledger bitcoin bitcoin s bitcoin google bitcoin accelerator bitcoin blockstream
bitcoin funding bitcoin transaction bitcoin airbit биржа ethereum bitcoin ledger bitcoin loan matrix bitcoin bitcoin валюты bitcoin обменять dash cryptocurrency charts bitcoin bitcoin faucet алгоритм monero bitcoin journal bitcoin sec
ethereum info ethereum кошелька шифрование bitcoin ethereum rig ethereum coin
bitcoin machine mac bitcoin
bitcoin 123 bitcoin презентация
bitcoin change bitcoin китай bitcoin cranes fields bitcoin txid bitcoin cryptocurrency bitcoin зарабатывать
bitcoin shops fx bitcoin расчет bitcoin truffle ethereum withdraw bitcoin tera bitcoin
platinum bitcoin space bitcoin bitcoin icon bitcoin book rpc bitcoin
game bitcoin
ethereum ios вложения bitcoin java bitcoin index bitcoin reklama bitcoin луна bitcoin скачать bitcoin bitcoin магазины up bitcoin кошелька ethereum monero 1060 bitcoin rbc
кошелек ethereum mac bitcoin
bitcoin surf bitcoin скрипт bitcoin linux математика bitcoin trade bitcoin monero dwarfpool
lightning bitcoin ethereum contracts If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now. At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs—not to mention the sheer mathematical difficulty of the process—doesn't make it profitable for consumer-level hardware. Today, Bitcoin mining is reserved for large-scale operations only. bitcoin 123 ethereum проблемы ethereum bitcointalk
ethereum erc20 swiss bitcoin trade cryptocurrency faucet cryptocurrency bitcoin создать monero пул
ethereum gas bitcoin надежность monero rur основатель bitcoin
99 bitcoin bitcoin rates bitcoin talk