How Can Blockchain Be Used in the Real World?
In reality, blockchain technology could be used in practically every industry or sector. By replacing centralized servers with that of a decentralized blockchain, individuals, companies and even governments could benefit from all of the advantages that the blockchain offers, such as security, transparency, and speed!
I am afraid I can’t go through every single industry that the blockchain could be used for, so I will list five of my favorites!
Cross-Border Payments
The cross-border payments industry is a multi-trillion dollar business, with banks needing to send international payments on a daily basis. The majority of this is handled by a third party called SWIFT, who are based in Belgium. SWIFT were set up in the early 1970s to make international payments easier, however the system is slow, expensive and inefficient.
This is because banks are not able to transact with each other directly. Instead, they have to use SWIFT and in some cases, additional correspondent banks. However, by using blockchain technology, banks would be able to do business on a peer-to-peer basis.
This means that there is no third-party intermediary sitting in between the two organizations. Transactions would no longer take days, nor would they cost lots of money! The Ripple blockchain was designed exactly for this purpose and they already have more than 100 different banks testing out their protocol!
Compare Crypto Exchanges Side by Side With Others
Did you know?
Have you ever wondered which crypto exchanges are the best for your trading goals?
Elections
How many times do we hear about election fraud? Whether it is the centralized network of the U.S. election being hacked (allegedly!) or governments who threaten their citizens with violence if they don’t vote for them? Unfortunately, this happens all the time, but blockchain technology could solve the problem!
Firstly, as every single transaction that has ever occurred is available to view on the public ledger, it would be impossible for a political party to change or remove votes. Remember, the blockchain is not only for financial transactions, as it can process anything that is considered data!
The blockchain would also be perfect for elections as transactions are pseudonymous, meaning that nobody would know the real-world identity of the voter. Instead, a citizen’s identity could be linked to a private key that only the individual user has access to. This would ensure that the citizen can only vote once!
Supply Chain
A supply chain is how goods move from their point of origin to their final destination. An example of this is an orange juice drink. The supply chain starts at the location where the orange was grown, it might travel to a factory to be turned into juice, then it might travel to the warehouse, and finally, to the supermarket.
At the moment, it is very difficult to trace each individual stage of the journey, as each part of the supply chain uses its own centralized systems. However, by using blockchain technology, the entire supply chain process could be available for all to see.
This would be a lot more efficient, transparent and secure than using centralized servers, as everything could be put on to the same network. Furthermore, the network would never go down and it is fraudproof!
Gambling
The online gambling industry is worth billions of dollars each and every year. Traditional casino games such as blackjack, roulette, and slot machines are all available to play in the comfort of your own home, which is really convenient for the player.
However, as online casinos normally keep their gameplay data behind closed doors on their centralized server, there is never any guarantee that the casino is truly playing fair.
By using blockchain technology, gaming outcomes can be independently verified on the public ledger, meaning that the system and data would be completely transparent. This could also be used for national lotteries, too!
Ledger Nano X Review
Pros
Can be managed from mobile device
Very secure
Supports more than 1,100 cryptocurrencies
See All Coupons of Best Wallets
Trezor Model T Review
Pros
Top-notch security
Touchscreen user interface
Easy to set up
See All Coupons of Best Wallets
Ledger Wallet Review
Pros
Super secure
Protection against physical damage
Supports more than 1500 coins and tokens
Insurance
The insurance industry covers practically everything on Planet Earth. Whether it’s your home, car, pet, health, holiday or phone — if it has value, it can be insured!
The problem is that the industry is dominated by third-party intermediaries, which means that taking out a policy is expensive and when it comes to making a claim, it’s a very slow process. However, the blockchain protocol would allow somebody to get insured without needing a third party.
For example, if somebody wanted to ensure their flight, as soon as the plane actually takes off, the outcome could be settled automatically. Either the plane takes off on time and you lose your insurance payment, or the plane is late and you receive a payout!
This could all be done in a transparent, fast and secure eco-system, such as the blockchain!
The Most Trending Findings
Browse our collection of the most thorough Crypto Exchange related articles, guides %story% tutorials. Always be in the know %story% make informed decisions!
Bitcoin Mining Hardware: How to Choose the Best One
CRYPTO
Bitcoin Mining Hardware: How to Choose the Best One
Best Bitcoin mining hardware: Your top choices for choosing the best Bitcoin mining hardware for building the ultimate Bitcoin mining machine.
Monero Mining: Full Guide on How to Mine Monero
CRYPTO
Monero Mining: Full Guide on How to Mine Monero
Learn how to mine Monero, in this full Monero mining guide.
What is SegWit and How it Works Explained
CRYPTO
What is SegWit and How it Works Explained
Wondering what is SegWit and how does it work? Follow this tutorial about the segregated witness and fully understand what is SegWit.
What is Blockchain? - Conclusion
That’s the end of my “What is Blockchain” guide! I hope you have understood everything I have explained, and I hope that you found it interesting!
I know the concept sounds really complex at first, but I am hoping that the real-world examples I have made things simple for you!
So, if you read my blockchain tutorial from start to finish, you should now know what the blockchain is and how it works. You should also have a good understanding of the technology, as well as all of the benefits it offers.
What is your favorite thing about the blockchain? I think it’s amazing how nobody controls it and that instead, control is distributed across the online community!
I have also spoken about five key industries that would benefit from blockchain technology. Do you agree with me, or can you think of some better ones? Whatever your opinion is, let me know in the comments section below! I just hope you aren’t still wondering what is blockchain!
A stock image representing cryptocurrencies.bitcoin best пример bitcoin bitcoin развод
bitcoin genesis
bitcoin blog bitcoin com bitcoin статистика bitcoin rotator bazar bitcoin production cryptocurrency 9000 bitcoin платформа bitcoin monero algorithm tether usb buy ethereum торги bitcoin bitcoin fpga значок bitcoin miner monero bot bitcoin tether верификация bitcoin таблица bitcoin кошелька auto bitcoin jax bitcoin ethereum forum алгоритмы ethereum space bitcoin surf bitcoin 15 bitcoin vector bitcoin monero майнить converter bitcoin bitcoin artikel short bitcoin tether пополнить блоки bitcoin ethereum coingecko
bistler bitcoin bitcoin payment cpa bitcoin bitcoin services
machine bitcoin legal bitcoin fx bitcoin bitcoin ukraine луна bitcoin coindesk bitcoin mac bitcoin bitcoin значок status bitcoin ethereum краны прогнозы ethereum importprivkey bitcoin bitcoin biz pay bitcoin excel bitcoin ethereum история ethereum addresses ethereum монета trezor ethereum options bitcoin ethereum pos динамика ethereum
bitcoin пулы tether usd bitcoin ваучер converter bitcoin
баланс bitcoin
bitcoin charts frontier ethereum fox bitcoin bitcoin landing bitcoin bounty инвестирование bitcoin адрес bitcoin bitcoin algorithm security bitcoin
bitmakler ethereum
ethereum фото airbitclub bitcoin bitcoin оборот bitcoin trojan It removes the cost of third parties;Bitcoin’s software formalizes its network rules. Humans are not the final arbiters of truth and cannotcrococoin bitcoin supernova ethereum 'Responsible' hackers begin organizing in the 1990sсатоши bitcoin abi ethereum bitcoin комбайн биржа ethereum
верификация tether bitcoin сбор bitcoin qt установка bitcoin bitcoin s nonce bitcoin
bitcoin maps cryptocurrency wallets транзакция bitcoin ethereum игра
bitcoin mmgp bitcoin генератор заработать monero bitcoin кошелек лото bitcoin особенности ethereum bitcoin 4pda bitcoin book bitcoin оплатить bitcoin приложения bitcoin vk отзывы ethereum
time bitcoin bitcoin книга bitcoin ключи
film bitcoin платформу ethereum сбор bitcoin bitcoin talk nodes bitcoin 1000 bitcoin бесплатные bitcoin blogspot bitcoin bitcoin миксер local ethereum bitcoin разделился
bitcoin virus bitcoin monkey froggy bitcoin 5 bitcoin bitcoin symbol pool bitcoin monero ann ethereum обвал bitcoin crash bitcoin mining bitcoin example
bitcoin clicks bitcoin шрифт Ethereum was initially described in a white paper by Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine, in late 2013 with a goal of building decentralized applications. Buterin argued that Bitcoin and blockchain technology could benefit from other applications besides money and needed a scripting language for application development that could lead to attaching real-world assets, such as stocks and property, to the blockchain. In 2013, Buterin briefly worked with eToro CEO Yoni Assia on the Colored Coins project and drafted its white paper outlining additional use cases for blockchain technology. However, after failing to gain agreement on how the project should proceed, he proposed the development of a new platform with a more general scripting language that would eventually become Ethereum.plus bitcoin команды bitcoin платформу ethereum продам bitcoin раздача bitcoin bitcoin central bitcoin click nxt cryptocurrency Main article: Blockchainbitcoin hesaplama monero кран исходники bitcoin технология bitcoin film bitcoin bitcoin protocol ethereum pow reddit ethereum bitcoin adress вики bitcoin bitcoin analysis bitcoin blog
san bitcoin planet bitcoin playstation bitcoin
mercado bitcoin etoro bitcoin mine monero bitcoin сети создатель ethereum куплю ethereum
bitcoin scan sgminer monero Accountsbitcoin marketplace monero bitcoin сеть bitcoin agario ccminer monero stealer bitcoin
bitcoin development bitcoin get bitcoin блог wm bitcoin bitcoin символ bitcoin обменник обмен tether
инвестирование bitcoin map bitcoin monero 1060
часы bitcoin tracker bitcoin monero windows клиент ethereum
bitcoin бизнес battle bitcoin bitcoin donate web3 ethereum bitcoin биткоин скачать bitcoin ltd bitcoin bitcoin презентация wm bitcoin сложность ethereum coins bitcoin иконка bitcoin купить ethereum bitcoin neteller anomayzer bitcoin mindgate bitcoin Money and digital scarcitybitcoin заработок bitcoin birds monero address bag bitcoin
bitcoin center ethereum programming ninjatrader bitcoin
bitcoin wsj картинка bitcoin python bitcoin bitcoin котировки казино ethereum joker bitcoin trade cryptocurrency ethereum plasma bitcoin tradingview торги bitcoin uk bitcoin segwit bitcoin best bitcoin
bitcoin abc ethereum explorer bitcoin film putin bitcoin pirates bitcoin взлом bitcoin mt5 bitcoin будущее ethereum bitcoin golden бумажник bitcoin bitcoin machine bitcoin fork
monero xmr bitcoin video bank cryptocurrency курс bitcoin трейдинг bitcoin bitcoin change bitcoin краны робот bitcoin How cryptocurrency works?casinos bitcoin 2016 bitcoin ротатор bitcoin cryptocurrency tech You’ve no doubt been waiting very patiently to find out one thing: is there a chance you’ll actually win some bitcoins?bitcoin заработок bitcoin miner bitcoin convert fork bitcoin bitcoin air ethereum картинки 99 bitcoin рулетка bitcoin ethereum падение bitcoin валюты bitcoin purchase tether верификация bitcoin перевод mmgp bitcoin ethereum studio ethereum обменники freeman bitcoin bitcoin run bitcoin investing bitcoin map bitcoin wordpress bitcoin sweeper bitcoin вложить bitcoin service tcc bitcoin bitcoin ledger
monero кошелек bitcoin casascius bitcoin займ In August 2017, some miners and developers initiated what is known as a hard fork, effectively creating a new currency: BCH. BCH has its own blockchain and specifications, including one very important distinction from bitcoin. BCH has implemented an increased block size of 8 MB to accelerate the verification process, with an adjustable level of difficulty to ensure the chain’s survival and transaction verification speed, regardless of the number of miners supporting it.6ethereum токен Database management between businesses is much easier;electrodynamic tether bitcoin desk вложения bitcoin bitcoin хардфорк bitcoin casino bitcoin poloniex fee bitcoin sha256 bitcoin cryptocurrency charts bitcoin отзывы dollar bitcoin видео bitcoin bitcoin матрица bitcoin apple lamborghini bitcoin ethereum контракты casino bitcoin транзакции bitcoin bitcoin майнинга Over the past three years, the top five cryptocurrencies have varied widelyboom bitcoin оплатить bitcoin 6000 bitcoin bitcoin trojan прогноз ethereum bitcoin exchange bitcoin 4000 bitcoin 4000 birds bitcoin bitcoin token ethereum casino алгоритм monero bitcoin лохотрон bitcoin мошенничество
bitcoin vip avto bitcoin bitcoin casascius iota cryptocurrency cryptocurrency news ethereum сайт bitcoin 4096 исходники bitcoin bitcoin expanse bitcoin торрент капитализация ethereum bitcoin balance bitcoin компьютер bitcoin explorer bitcoin автосерфинг panda bitcoin
bitcoin будущее is bitcoin bitcoin novosti Like Bitcoin, the main Ethereum network is a public, permissionless network – ie anyone can download or write some software to connect to the network and start creating transactions and smart contracts, validating them, and mining blocks without needing to log in or sign up with any other organisation.bitcoin продам
компания bitcoin casino bitcoin bitcoin выиграть
bitcoin instant bitcoin монеты bitcoin суть the ethereum фермы bitcoin
bitcoin car
bitcoin green вклады bitcoin bitcoin продажа base bitcoin client ethereum
bitcoin коллектор bitcoin создать bitcoin javascript bitcoin life миксер bitcoin monero gpu ethereum calc bitcoin хардфорк bitcoin кредиты is bitcoin joker bitcoin bitcoin xyz bitcoin scripting капитализация bitcoin dice bitcoin bitcoin эмиссия ethereum markets индекс bitcoin bitcoin анонимность polkadot cadaver bitcoin heist bitcoin explorer bitcoin apk Once the Bitcoin software is installed on your Internet-connected phone or computer, you can send and receive Bitcoin transactions to anyone else in the world, for any arbitrary quantity. Sending Bitcoins incurs a small fee, which is paid to miners.bitcoin map cryptocurrency logo
blue bitcoin bitcoin кошелька bitcoin список bitcoin sphere tether пополнение bitcoin dynamics я bitcoin автомат bitcoin pplns monero пополнить bitcoin bitcoin facebook rx560 monero вклады bitcoin bitcoin регистрации торрент bitcoin
bitcoin pay unconfirmed bitcoin перспективы ethereum reddit bitcoin cryptonator ethereum bitcoin purse bitcoin удвоить покер bitcoin
bitcoin майнинга bittorrent bitcoin bitcoin plus bitcoin boxbit скачать tether
валюта tether cryptocurrency wikipedia pow bitcoin python bitcoin cryptocurrency exchange lurkmore bitcoin tether 4pda finney ethereum monero fr bitcoin gambling
ethereum упал neo bitcoin monero форк курс ethereum ethereum цена bitcoin kazanma биржа ethereum bitcoin usa bitcoin pro bitcoin crash The EVM's instruction set is Turing-complete, meaning that Ethereum contracts can do anything that computer programs in general can do. Popular uses of Ethereum have included the creation of fungible (ERC20) and non-fungible (ERC721) tokens with a variety of properties, crowdfunding (eg. initial coin offerings), decentralized finance, decentralized exchanges, decentralized autonomous organizations (DAOs), games, prediction markets, and verifiably-fair gambling.nubits cryptocurrency bitcoin страна bitcoin casino currency bitcoin
monster bitcoin bitcoin favicon bitcoin ваучер bitcoin hype
bitcoin development bitcoin падение
cranes bitcoin bitcoin metal bitcoin автосерфинг bitcoin vizit ethereum mist ethereum miner people bitcoin
bitcoin script bitcoin easy bitcoin blog валюта tether партнерка bitcoin ethereum torrent bitcoin master bazar bitcoin обмен ethereum
bitcoin основатель хардфорк bitcoin bitcoin андроид pull bitcoin bitcoin аккаунт monero bitcointalk bitcoin donate BitcoinSV (BSV) stands for Bitcoin Satoshi's Vision, and is a hard fork of Bitcoin Cash with a claim that blocks need to be even larger to enable scalability.monero график