Block-chain technology has gained popularity because of cryptocurrency Bitcoin. However, block-chain capabilities can be used in all areas. The technology by its principle of operation is much safer and more transparent. The possibilities of Blockchain Technology Applications are endless. The more they know the system, the more directions where they use the block-chain.
The technology is popular in various fields due to the characteristics of each of them. How the blockchain is used in the world needs to be considered for each.
1. Financial sphere (Blockchain Technology Applications)
Insurance companies, banks and private financial institutions actively use block-chain.
80% of banks are already working or are developing software based on this technology.
In the financial sector
Accelerates money transfers reduces commission
For example, Abra has developed a digital system for transfers to other countries from mobile devices and a commission of 0.25%.
Optimizes work in the stock market and predicts the value of stocks
Augur provides users to buy and sell securities based on forecasts built by the application.
2. Copyright (Blockchain Technology Applications)
The Ascribe system helps in the protection of copyrights to people of creative professions – poets, writers, artists. The technology creates digital publications using identifiers and digital certificates for authentication, and authorship. The Ascribe market establishes a mechanism of interaction between the author and buyers with the registration of the right to use or property with legal registration.
The services also use Bitproof, Blockai, Stampery, Verisart, Monograph, Crypto-Copyrightcrypto-copyright.com, Proof of Existence
3. Commodity Market Operations (Blockchain Technology Applications)
For the safe purchase of gold and silver use the service The Real Asset Company. The platform operates based on storage infrastructure around the world that provides customers with online accounts. Cryptocurrency, backed by gold, the company Goldbloc, allows you to conveniently manage attachments.
Uphold platform is used for transactions and storage of money, goods or raw materials. It is possible to combine banking operations in the service, attach plastic cards and bitcoin wallets to speed up payments within the system. Legal entities and individuals replenish the account balance by transferring from an account, card or wallet.
4. Database management (Blockchain Technology Applications)
Blockchain is used to implement a data management system and its analysis. Factom – captures information, maintains databases and stores them.
Government agencies, large companies, and non-profit organizations provide entries in the system with tags to reduce management and audit costs. The procedure for working with information complies with the law and the requirements of supervisory authorities.
5. Gemstone Turnover (Blockchain Technology Applications)
The sphere of turnover of precious stones is one of the most controlled, but despite the regulations, it is classified as corrupt. High crime rates and violation of the law lead to smuggling and sale of stones.
Stones, due to their small size, are easy to transport without documents, and cash settlement ensures profit and tax evasion. Many crimes with diamonds are associated with the financing of terrorism and the legalization of money.
Company Everledger working to solve these problems in the industry. The basis of the service is the control over the circulation of diamonds.
Any market participant or interested person identifies the stones and confirms the authenticity of the operations. A digital passport is formed for each stone – a mark that is fixed during all operations.
6. Digital Identification (Blockchain Technology Applications)
How to use the blockchain to identify users and their rights to access data is presented on the platforms 2WAY.IO, ShoCard, Guardtime, BlockVerify, HYPRO, Onename .
Blockchain performs the following actions:
- Controls the movement of money transfers;
- Provides secure data storage;
- Transfers information to remote representative offices of companies;
- Delimits access to personal data.
The technology creates digital identity cards in the form of a watermark. That can be installed on any transaction with assets.
Popular privacy platforms
- Civic – registration, and confirmation of information, protection of credit history and solving the problems of data theft by fraudsters.
- Unique ID Wallet identity management through a fingerprint, retina, or face scanner. Compatible with other biometric devices. The application is available on all mobile devices with a limited time without power. Additionally, the function of allocating blockchain storage for information without using passwords has been developed. Users are recognized by personal data entered into the system.
- Identify combines all profiles and user information into one identifier.
- Evernym – a data registry with separation of access rights to information.
7. Energetics (Blockchain Technology Applications)
In 2016, 3 specialists in the field of information technology energy created the company Energy Blockchain Labs. That creates added value as a result of a full production cycle. The founders are sure that the company is unique and unique, and at the moment they are right. The main activities of Energy Labs are the development of a number of energy Internet technologies and the solution of problems in the generation and consumption of energy, as well as the optimization of the resource trade process.
Grid Singularity platform – designed for information exchange, simplifies the process of data analysis and testing, works with “green certificates”.
Company LO3 Energy created a project NransActive Grid for cryptographic protection. Application tools measure the level of energy production and consumption. The demo version is working in Brooklyn in test mode.
8. Electronic Voting (Blockchain Technology Applications)
Blockchain is widely used in the field of anonymous online voting. A popular application is Follow My Vote, which uses elliptical cryptography to guarantee the accuracy and reliability of the results.
Since 2016, the Estonian government together with NASDAQ have created an e-Residency interaction program between citizens and public authorities. The platform allows residents and business partners of the country to receive state and banking services with identification cards or digital keys.
9. Entertainment industry (Blockchain Technology Applications)
Gambling fans have found blockchain applications for the modernization and integration of video games.
Table – Popular Gamer Platforms
|Etheria||There is a struggle of players for cells on the field, which is mined for any actions or values. Information about the actions of players is stored in a decentralized blockchain.|
|First blood||Players challenge each other to compete in different directions, fans act as judges and make bets, organize tournaments and receive rewards. It has its own 1 ST token , which uses data to process results|
|Etheramid||Cryptocurrency pyramid. Each participant is awarded points for invited players. The accrual algorithm is developed on the basis of a self-governing smart contract that even an administrator cannot change|
|FreeMyVunk||Gamers change property in different games and earn VUNK on invitations and tweets.|
By popular games using the blockchain, the structure of such games is built:
10. Corporate and Public Administration
Blockchain technologies help in organizing the interaction between voters and politicians, help organize communications within the political elite or legal entity.
For example, the Advocate platform is designed to improve the interaction between citizens and representatives of the country’s administration.
Borderless is designed to provide legal and economic services to people and is available worldwide. In the system, you can get a divorce, arrange a marriage, use the services of a notary public, conduct financial transactions based on the Expanse blockchain.
For corporate governance, there are Otonomos, BoardRoom and Colony services that automate the processes of generating sources of financing and forecasting activities. Access to the creation of online companies around the world.
An interesting development is a Bitnation program – an international nation with ambassadors, partners, citizens. In a virtual state, everyone can “settle” in a country without restrictions
11. Human Needs Services (Blockchain Technology Applications)
The blockchain stores data on goods and collectibles, allows you to create identification systems, tracks the consumer’s proximity to the item. Chronicled is a platform for things that collects information about the needs of consumers and guarantees safe transactions between them.
To manage large enterprises, create and develop software solutions use the Filament application. It is fully autonomous and works with cryptographic protection.
Chimera is an app, bracelet, and medallion that helps care for older people who need care. Carry out a remote analysis of vital signs, determine when a person needs help.
12. Employment (Blockchain Technology Applications)
Verbatim service registers education documents without certification by notaries or other competent persons.
Appil – a registry for the safe storage of information about education, qualification certificates, certificates and certificates, seniority and providing access to it with the consent of the owner.
The first blockchain recruiting agency, Satosh Talent, offers vacancies and resumes for developers and engineers in blockchain companies.
On the Coinality specialist search platform, you can specify the salary in virtual money – Bitcoin, Litecoin, Dogecoin. Employment can be single or long-term.
13. Forecasting (Blockchain Technology Applications)
Application for forecasting economic, political or social projects in the world. Users are betting on the outcome of the situation. If the forecast is correct, remuneration is paid. Augur.net is a virtual analogue of bookmakers.
14. Media Distribution (Blockchain Technology Applications)
In the public domain, many works are submitted with copyright infringement. The Buttunes platform aims to make file distribution legal for a fee. Bitcoins are used as currencies. Clients of the platform earn automatically by buying or selling files.
Another Peer Track service has wide functionality:
- Talent search;
- Creation of fan groups;
- Distribution and sale of music;
- Sale of musical notes of compositions;
- Tip to artists and sellers.
The basis of the service is the Muse peer-to-peer network , which automates all music broadcasting processes.
Paperchain is another service for collecting, storing and sharing media files.
15. Network Business (Blockchain Technology Applications)
Ethereum was developed for the development and protection of data in various industries – voting, domain names, commodity and financial exchanges, company management. On the platform, you can create and publish information, contracts, agreements.
ChromaWay – places several cases for implementing tools that will help you quickly and easily bring business processes to digital form.
16. Charity (Blockchain Technology Applications)
Assistance to those in need and investments in socially significant projects do not allow obtaining information on the effectiveness of the use of funds of the philanthropist, therefore many do not do charity work or invest only in one-time projects, the results of which can be seen.
For example, helping a sick child. Blockchain technology can make transparent control over the use of money and monitor the benefits of it. One of the interesting projects is Give Track , which is specially created for non-profit organizations and shows the results of work in real time. Heiprbit, Alice, Start Network work on a similar principle .
17. Realtor Activities (Blockchain Technology Applications)
- Saas blockchain platform offers realtors and brokers services in maintaining a register of the property indicating ownership rights and their changes.
- Ubitquity offers parallel accounting of paper forms of documents, which will accelerate the work of lawyers, increase the transparency of transactions and the level of trust in them.
- Silvertown is based on smart home technology so that management companies monitor the status of their facilities using installed beacons and sensors. The information collected is stored on the blockchain and guarantees the privacy of homeowners.
18. Consumer Reviews (Blockchain Technology Applications)
The company’s reputation depends on the feedback of real customers, and in order to increase reliability, The World Table service launched the Open Reputation system for collecting feedback on the network and forming ratings.
ThanksCoin system also forms a reputation rating and provides material rewards for participants.
19. Transport services and ride-sharing
Blockchain technologies connect demand with supply in the provision of services through centralized management.
The prospect of development in this area has attracted new companies Arcade City and Zooz , which allow drivers to earn money and not share profits with major services. The analogue of such an application in our country on the blockchain is Bla-bla-car. Further directions where you can use blockchain in the transport industry are being actively studied.
20. Social Networks (Blockchain Technology Applications)
Today, the principle of operation of all social networks is to store data centrally from the owner of the resource or a special agency. CoinTelegraph offers a mechanism for establishing communication between different servers through software that guarantees high standards of protection.
In parallel, the projects Datt, Decent, Diaspora, Akasha, Synereo are developing in this direction .
21. Food industry
For product certification and control of the product chain, each stage can be reflected from the purchase of raw materials to delivery for sale on the blockchain. The goal of Provenance is to quickly audit the condition of the product. For example, in case of damage, premature damage or a claim from the buyer for inadequate quality.
In the near future, the blockchain has a chance to become the foundation in building progressive relationships in all areas where it is used or just planned.
The technologies used in the blockchain have many undeniable advantages and have not been fully studied, but the provision of a high degree of personal data protection and autonomy make it one of the leaders among 21st-century digital developments.
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