Blockchain is the heart of all cryptos. All the transactions done via crypto wallets are recorded through blockchain technology that can be publicly accessed. This is why they are considered transparent and decentralized, yet secure.
Blockchain technology was initially workable for cryptocurrencies only, but today, blockchain is slowly finding its way into other industries as well. According to the infographic crafted by the BitFortune.net team, even certain U.S. defense services are starting to implement blockchain technology because of the security advantages it provides.
Blockchain And Elections!
A pretty incredible combination. Well, it happened, and we are bound to see it being used more to facilitate the voting process. Soon, the use of blockchain decentralized system will enable voters to view and track votes anonymously.
Estonia and West Virginia have already adapted to this advancement. The military personnel from West Virginia, who were working overseas when the elections were held, had the chance to vote on their phones. The votes were then transferred using the decentralized blockchain technology to the primary voting tally counter.
Estonia, on the other hand, has even gone ahead and introduced unique identity cards that can do blockchain voting. The process is rapid and safe.
Blockchain In Cloud Storage
Over 80% of the total documents in organizations and business entities are stored using cloud technology. Blockchain technology will enhance the cloud security by decentralizing the cloud’s storage.
Real estates have also not been left behind. If you ever bought a house or you want to purchase one, you know the importance of transparency. A decentralized system ensures that no one tampers with anything concerning property values through overcharging or imposing additional hidden costs. This not only reduces the long procedures of paperwork, but also eases and makes the transaction process to be safe.
Data sharing on all platforms can be a bit daunting, especially if it is private information about a patient’s medical background. This led to the adoption of advanced technologies to ensure the safety of such information. Today, more companies in the healthcare industry are adopting blockchain technology. Some of these include Gem and Tierion, for example.
Blockchain is a space worth watching. Its demand is on the rise, and the benefits can’t be overlooked. Ultimately, it’s safe to say that there is no limit to the effect of blockchain disruption and we have yet to see the full impact Blockchain will have on various industries.