Real World Uses for the Blockchain
Many countries start seeing the benefits of the blockchain technology and here are a few cases of this new technology being used all over the world.
The blockchain technology can be used for students to store their degrees and certificates in the data container. Students don't need to make use of a third party and therefore there will not be extra costs. Students won't need to use papers to prove their credentials and fake degrees will be something of the past. Employers won’t have to contact universities directly for information, so no back and forth communication, which will be eliminated automatically.
Here doctors will digitally store patient data to ensure effective medical care. A more exact diagnosis and better treatments will be given to patients. This technology-based system will help the healthcare industry to secure, record, store and share sensitive data. Crucial data is not always accessible in times of need. This will be an enhancement when a doctor needs to have the patient’s information at the time he needs it. Also, this concept can be applied to clinical trials whereas in the US nearly half of the clinical trials are unreported. Up to 40% of healthcare provider data records are filled up with errors or misleading information.
This container of data the blockchain allows the ability to ensure tax transparency, defraud voting, monitor revenue and easily change management systems. It will be mostly behind the scenes but this technology has the potential to bring security, efficiency, and speed to a wide range of services and processes. It will regulate contract management, identity management, and services to citizens. The blockchain will offer a brand new approach to enhancing transparency between governments, businesses, and citizens.
The blockchain is best known as the foundation for cryptocurrencies, but this decentralized technology can be used in an array of applications, which has helped it attract growing attention from around the world. The blockchain is here and it's happening today.