By Moses Okens
Blockchain Technology has imaginations running amok. Blockchain has extended to the point that it can now be applied to any need for an error-free, reliable record. The build-up surrounding the technology is quite possibly the result of how easy it is to dream up a high-level use case for the application of blockchain technology. It will be probably omnipresent in times to come.
Instead of listing 500 + relevant solutions, we’ll talk about the ten that we think most deserve your attention.
Here they are in no particular order:
- Banking/Financials.
- Cloud Storage.
- Cyber Security.
- Music/Media.
- Medical/Healthcare.
Banking/Financials
Efficient payments processing with high effective, rapid and safe transactions. Allows global transactions, removing currency borders. Minimize auditing complexity.
Travel
Passenger Identification, boarding, passports and payment. Computes travel documentation and proved affinity programs and tracking.
Charity
Following donation allotment, reporting, reduce expenses and problem in donation handling, ensure funding promotions receive donations and sponsors are compensated.
Cloud Storage
Improved security in circulated networks, providing lower operational cost with the capability of financing unused cloud storage.
CyberSecurity
Increased security in decentralized networks.
Music/Media
Artists retain ownership rights. Aids in anti-piracy and copyright infringement. Provide proper compensation for purchased/streamed music.
Medical/Healthcare
Improves medical supply chain integrity, keeps patient database on blockchain, provide transparency and automation within patient to hospital/doctor.
Legal
Allow parties to make smart contracts with specifically defined roles, expiration dates, and allows accessibility for relevant parties.
Insurance
Improve multi-party contracts streamlines efficiency of risk contracts. Streamlines the adjuration of claims transparency of shared reduces disputes.
Energy
Avoid public grids to allow for cheaper multi-user energy transfer. Smart metering capabilities become possible.
In addition, the provision of skill creation tools has decreased as the internet stretches. Learning cost have reduced as transaction costs reduced. Communities are seen as options for learning models. The Technology has paved the way for other areas hence the fast growth in the area of development.
