Bitcoin made its debut in 2009 and took the finance industry by storm during the end of 2017. With bitcoins came the knowledge of cryptocurrencies and their processing technology- Blockchain. The scope for Blockchain and its applications since then have been pondered upon and many companies have already made it a part of their lives. Online free casino No deposit bonuses required to play happening blockchain based online casino games. Check out the growing popularity of the Blockchain and its applications in different organisations.
Real-time uses of Blockchain Technology
One of the amazing features of Blockchain technology includes the ability to maintain an immutable ledger of the transactions of the industry that has installed this technology.
Recently, National Transport Insurance, an Australian Truck and Transport insurance company introduced a program on an experimental basis wherein it uses the blockchain technology to track the exports of the Australian beef, end-to-end.
Another industry is that of Healthcare where the technology of blockchain can be introduced. This helps with the creation of patients records of their illness and treatments that can be stored online securely. This, in turn, can be made available to the doctors whenever the patients visit them again to provide them with a better understanding of the patients’ health history.
Blockchain has made its way in too. One of the top ten business schools of India, SP Jain School of Global Management recently issued its 1,189 graduates a blockchain based degree certificates. The interesting thing being these certificates uploaded and made available on Ethereum blockchain that gives the employers to crosscheck the authenticity of the candidates and their educational qualifications that are seeking the job with them.
The Blockchain’s encryption technology is secure and is unable to decode. This keeps the data stored in it safe and unaltered which makes it apt for day-to-day real-time applications like fraud detection, trade, insurance management, financial services, e-commerce, gaming, health care, food safety, banking, agriculture data storage and also in various sectors of public and government offices.
Approved by some Nations
The applications of this amazing blockchain technology are immense. Some of the countries have recognized its potency and have already started reaping its benefits. The governments of Thailand, Canada, Switzerland and few other countries have deployed the blockchain technology to improve their citizens’ lifestyles.
Swiss National Postal Service and Telecom Leader have started building blockchain platform that can back the country’s various applications in near future.
A way of digital payment based on blockchain technology will soon be a reality that will be processed by Dubai’s official government credit bureau for its citizens.
VAT payments are being tracked by blockchain by Thailand’s revenue department.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) came up with its Global Payment Initiative (GPI) backed by the blockchain technology, which is still in its pilot stage and is sure gel along with the fintech services aptly.
Few of the blockchain technology-based applications have already entered the mainstream lifestyles of citizens throughout the world. Some others are still in their maiden stage. No matter what, the blockchain technology is proving its worth and is here to stay for long.