TOP 7 areas of use of blockchain

1. Data storage.

The modern approach to storage of personal data (photos, video or text) comes to placing them on cloud service of one of large IT-companies. However, this is unsafe because any security breach in the service will allow hackers to change or steal your data. In the case of the blockchain, everything looks different. Your data is distributed across the network, stored simultaneously on multiple nodes. You only have access to the data. This makes any undesirable change of information impossible, as it is necessary to falsify data on all nodes at the same time. Accordingly, theft under such conditions is also impossible. Unless you mistakenly pass your private key to attackers.

2. Conduction of fair elections.

The main violations that occur in the elections are the so-called “Carousel”, stuffing the ballot box and the hacking of the electronic voting system. All of them are well known and people are struggling with them. However, even in developed countries, these violations still occur. The blockchain technology will help to correct this deficiency. For each voter will be assigned only one token, which he can give favorite to the candidate. Unused tokens will be burnt at the end of the election. The entire process will be monitored by smart contracts. It is then that the elections will become truly honest and transparent.

3. Combating counterfeiting and illegal content.

When the product is released, a special miniature chip will be fitted to record each movement of the goods in the blockchain. Thanks to this, the buyer in the store, with the help of the phone, will be able to immediately check what they are trying to sell-a real brand or forgery.

4. Payments and Remittances

Blockchain was originally created for simplification of financial operations and exclusion of intermediaries (banks, money transfer services abroad, etc.), so there are almost limitless possibilities of its application! Thanks to it you can not only get rid of intermediaries, but also significantly minimize the Commission. For example, the Commission for remittance $1000 at the BitShares blockchain is only 0.5 cents

5. Fight against forgery of documents.

Forgery of documents is one of the main incomes of the dealers of the shadow economy. Everything from certificates and licenses to passports is forged. Thanks to the blockchain this problem will be finished. Information about each issued document and its recipient will be recorded in the common block chain, from where it will be impossible to delete or to change. Access to new data in such a blockchain will have only a limited number of people who, in case of abuse, are immediately suspected.

6. Electric power.

The first transfer of energy using blockchain took place in 2016, when a Brooklyn resident sold surplus of energy to his neighbor with a smart contract on Ethereum. From now on, anyone who has a generator or a source of renewable energy can “transfer” excess energy to the network and get tokens for it, which can then be exchanged for fiat money. Or, conversely, if you do not have enough electricity, you can buy it from more economical suppliers.

7. Internet of Things.

Internet of Things is a group of devices interacting not only with users, but also with each other. The use of blockchain here implies rapid interaction between several objects. For example, when the car is running out of fuel, it transmits its data on the necessary amount and pays for the purchase before arrival at the gas station, and all their “communication” is encrypted and protected by blockchain. All you have to do is insert the gun into the petrol tank.

We have considered only the main areas of activity where the implementation of blockchain will bring undeniable benefits. However, the world does not stand still, and it is likely that while you are reading these lines, someone on the other end of the earth has invented how to use this technology, for example, in the cultivation of grain.

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