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Different uses for Blockchain technology

Different uses for Blockchain technology
« on: 30 July , 2019, 22:07:40 pm »
Hi everyone,

As you may know, the uses of Blockchain are endless. The best known are the annotation of movements of virtual currencies and the creation of company data backups, this is because the blockchain puts the information securely in several blocks. But the possibilities of blockchain technology go beyond Bitcoin and backups, its use extends to several sectors:

  • Financial sector: in this way, interbank transactions that sometimes take days can be reduced to minutes or seconds.
  • Health: the use of blockchain in this sector can be of great help in controlling the availability of medical records, as well as maintaining the safety of both patients and doctors, this is known as Medichain. It can also be very useful for insurers to help reduce health payment fraud.
  • Legal services: since the Blockchain is able to manage large amounts of data, such as contracts, certain industries can benefit from smart contracts or systems that facilitate the execution of contracts thanks to Blockchain. The intermediary can be eliminated from the contracts through agreed parameters. The curiosity of the smart contracts makes it, by electronic means, easily fulfilled and thus ensuring that its control does not fall just on one part.
  • Defense: when we talk about this defense, we refer to computer’s one, as operating systems because these computer systems and infrastructures are usually distributed in different places. If this distribution were based on Blockchain technology throughout more than one data center, access would depend on a consensus when modifying and preventing attacks on key parts of networks and equipment.
  • Government entities: the operation of these types of entities causes delays in information exchanges, deteriorating citizen service. Using Blockchain technology to link data between departments, it would make the provision of information in real time, once both parties decide to share data. Blockchain technology can also help increase transparency and decrease corruption in government areas globally.
  • Workers' rights: we can use blockchain as a means to bolster the rights of workers around the world. According to the International Labor Organization, 25 million people work in precarious conditions. Coca-Cola, along with the U.S state Department and other partners, is working on a blockchain registry complete with smart contracts, protocols that verify,  facilitate, or enforce a contract to improve labour policies and coerce employers to honor digital contracts with their workers. 
   
With this technology, various activities such as electronic voting can be carried out, as blockchains would allow an electronic voting system where entities would be protected and would have a negligible cost. These are just some of the new utilities that Blockchain can offer. According to a report from the world Economic Forum, blockchain technology advances quickly and as it covers many sectors, we will see that more companies will investigate and develop blockchain as part of the necessary innovation of their services for the benefit of the market and thus increasing their possible applications.

I leave you here some links, you can visit them if you want to learn more about Blockchain’s uses.
https://www.blockchaintechnologies.com/applications/
https://lisk.io/academy/blockchain-basics/use-cases
https://www.mycryptopedia.com/16-promising-blockchain-use-cases/

Kinds regards,
David Corral Pazos

Re: Different uses for Blockchain technology
« Reply #1 on: 02 August , 2019, 17:15:55 pm »
Very interesting.

Re: Different uses for Blockchain technology
« Reply #2 on: 06 August , 2019, 18:01:22 pm »
Hi everyone,

As David has already pointed, Blockchain involves much more than just a technology to power virtual coins, enhancing the information speed, security and register. I must say I do really appreciate the amount of information and links you are sharing, and I hope they might help other participants to achieve results, and I have to congratulate you on your research therefore. I would like to invite everyone else to contribute in the same way, since this program is not a contest for the best essay ever, but rather an opportunity to share, discuss and learn.

Therefore, I am curious about which of these areas (or whether in general, or in any other) are you focusing your work. Although most of you are probably already half-way in your papers, sharing what and why are you researching may actually be beneficial not only for those who are still doubting a bit about the exact path to take, but also in order to enrich your research and be able to apply your conclusions to other areas.

By the way, do not forget, in order to enhance communication, to address clearly someone (it might just be "the participants") at the beginning of your messages, and to finish them by signing. It may seems as unnecessary, but it does really help to read it easier.

Best regards,
José Javier (Veteran)