Uses Of The Blockchain In Different Business Sectors

1. Cloud storage distributed

Cloud storage services such as Tencent, Dropbox or Google Drive are centralized, and by using them, you are trusting the provider to “respond” to the data you store in the cloud.

Imagine that this service is provided in a distributed way using a network based on Blockchain to increase security and make the service less dependent, its users can also rent the space they do not use to others as Airbnb does with accommodations.

2. Payments, transfers and international remittances

That is to say, an international system based on blockchain for instant transactions of payments, savings, transfer and international remittances, lowering costs.

3. Identity management

The blockchain technology allows users to create their own identity digitally. This ID based on blockchain will soon replace usernames and passwords online. You can use your blockchain identity to access applications and websites, sign digital documents, etc.

4. Patents/Property Registry

One of the first non-financial services that have been given to the blockchain is the inclusion of encrypted information within the transactions. In this way, you can create an impossible to replicate hash that is associated with a single document stored outside the blockchain. An interesting application is the registration of patents or intellectual protection. Any company could prove that it has created a technology on a specific date without having to make a formal application to register the patent before any centralized entity.

5. Registration and verification of data

Just as transactions can be stored immutably under blockchain, this technology can be used to store any other type of information.

  • Its possibilities are enormous both in the business sector and the public. For example:
  • In clinics and hospitals: to create a registry with the data and the medical history of the patients.
  • In the property registry: to create a record that shows the owner of each property as well as all transactions of sale made. In this way, any fraud or manipulation is avoided.
  • For vehicle registration.
  • For the protection of intellectual property and the creation of creative digital products, such as music, photos, electronic books, etc. If you have an original work of your creation in digital format, you can encrypt it and store it as a transaction in a block designed for it. As a result, authorship and the date on which it was registered will be registered.
  • Record births and deaths, marriages and divorces, etc.

6. Electronic voting

The organization of elections in a manually has a very high cost. It includes the creation of voting cells, the distribution of people in polling places, organization, supervision, and counting itself. Electronic voting systems are subject to attacks. It is difficult to register the vote and that it is in turn not public. You have to meet with top blockchain development companies that specialize in the development of Blockchain.

Blockchain can solve this because it would allow a voting system in which the identities of the voters were protected, unforgeable (a hacker would need much more computing power than computers in a distributed network), at a low cost and that, can be public. This system would provide security and veracity, avoiding all the insights surrounding the elections.

7. Transparent government

With blockchain technology, any organization such as clubs, municipalities, regional governments and central government can present their actions in real time.

These institutions can use digital currencies such as Bitcoin, and in this way, all associates or public can view the financial statements and monitor the income and expenses in real time and at a much lower cost.


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