MEVerse
Published in

MEVerse

Why The Blockchain Industry Craves Use Cases?

Blockchain technology is more popular than before, thanks to the creation of cryptocurrencies, but the idea behind blockchain has existed for decades.

It is quite clear that blockchain technology has tremendous potential, and giant companies are already looking into it; some even apply the technology already in many areas preparing for the future. Blockchain is, however, still quite fresh, and there are still numerous use cases that are not yet utilized but can actually work.

Use Cases of Blockchain Technology Currently

One of the most popular use cases is supply chain management. There is an apparent lack of transparency in the current supply chains, even though authenticity is a huge issue. Many customers worldwide consistently receive counterfeit goods and have concerns about the qualities and origins of the products they buy.

Blockchain is the winner here since it can provide a transparent and immutable ledger where companies and users can easily track their products and verify critical information like the state of the object or location. IBM, International Business Machines, is an American technology company with operations in over 170 countries, and it’s currently utilizing blockchain technology to solve this problem.

The verification of digital identities is also quite problematic without the usage of blockchain technology. Many people and even entities are susceptible to identity thefts and other data breaches. Because of this unprotected identification information, social engineering, such as phishing and smishing, is common and usually causes many problems. Blockchain can prevent the problem by protecting personal information and precisely witnessing people’s identification.

Similarly, blockchain can be used for voting. Recently, Donald Trump, President of the United States, raised concerns about the mailing vote fraud. As so, voting can be incredible, and it is sometimes a significant issue in many countries. Therefore, a new voting system that people can trust should be settled, and blockchain can be a solution. Most countries are not yet applying the technology for this issue. However, many of the officials realize blockchain’s usability and try to utilize blockchain technology in building a new voting system based on blockchain technology.

Furthermore, many healthcare organizations and businesses have started using or looking into blockchain during the recent pandemic. The healthcare industry can significantly benefit from immutable and transparent ledgers to create incredibly secure databases. FLETA has recently joined hands with ChainLink, one of the largest cryptocurrencies by market capitalization, to advance medical blockchain applications. This cooperation aimed to integrate ChainLink oracles into FLETA and allow doctors, researchers, and even patients to manage and share clinical health records easily.

Additionally, FLETA’s eCRF system was selected as an outstanding project, among many others. Sendsquare’s eCRF is a system that uses the FLETA chain to record information that cannot be deleted arbitrarily or changed, avoiding record manipulation.

Blockchain Is Not Easy To Implement

One of the biggest problems that companies and businesses face is the implementation of blockchain to optimize their services. We know blockchain technology can be beneficial in many use cases. However, implementing it is not as easy as it sounds, so many new projects are in need of accelerators to be blockchain-based projects.

FLETA provides its technology and knowhow to projects willing to utilize blockchain technology in their services. We provide our customers with an extremely development-friendly environment to make it easier for anyone to implement FLETA’s advanced technology. Even though some blockchain networks suffer from low speed and limited scalability problems, FLETA network has fast speed, unlimited scalability, and low transaction fee beneficial to our DApps.

Moreover, the platform uses a Proof of Formulation consensus mechanism to minimize unnecessary forks and create real-time confirmations of transactions.

Conclusion

Blockchain technology is a great innovation; however, implementing this technology is not an easy task. FLETA is one of the few platforms that make this process simpler for anyone. The adoption of blockchain is still in its early phases and will continue to evolve in the next few decades.

The future will most likely be filled with blockchain technology; even banks can make use of it. Cryptocurrencies are only the most popular use case currently, but they are only a small demonstration of what blockchain technology is capable of achieving.

***

Feel free to join and connect with us through any of our official channels below:

Website: https://fleta.io

Twitter: https://twitter.com/fletachain

Telegram: https://t.me/FLETAofficialGroup

Github: https://github.com/fletaio

--

--

--

Optimum Blockchain Metaverse Entertainment Platform

Recommended from Medium

BLOCKCHAIN — THE NEXT OF EVERYTHING!!!

https://www.sourcingandsupplychain.com/blockchain-the-next-of-everything/

Countdown to Fractal Mainnet

The Steady Rise of DEX Aggregators and What’s Next…

How to Connect to BSC Nodes with Moralis

【Monthly】IntelliShare Monthly Update: Apr. 1st — Apr. 30th

Whiteheart1​ is an on-chain hedging protocol built on top of the Hegic

Gold Sponsor Presentation: Kryptomon

Hello World In Scilla

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
MEVerse

MEVerse

Optimum Blockchain Metaverse Entertainment Platform

More from Medium

KaJ Labs Secures $400M Investment Commitment from GEM Digital Limited For Lithosphere’s (LITHO)…

Overview of Chainlink

Deep Dive on Filecoin & IPFS use cases in the Solana ecosystem

The Complete Guide to Filecoin in the Solana ecosystem