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!
bitcoin block reddit ethereum xapo bitcoin bitcoin weekend обменники bitcoin расширение bitcoin
bitcoin account
neo bitcoin bitcoin акции
bitcoin win maps bitcoin
panda bitcoin суть bitcoin bitcoin cap курсы ethereum hashrate bitcoin lealana bitcoin bear bitcoin
half bitcoin moneypolo bitcoin bitcoin клиент bitcoin foto bitcoin reindex blocks bitcoin bitcoin продам bitcoin scanner bitcoin mmm коды bitcoin dag ethereum bitcoin бесплатно bitcoin desk bitcoin pizza bitcoin capital cryptonight monero my ethereum ethereum pos
эмиссия ethereum If you lose it, it’s gone forever: If your cryptocurrency goes missing - or you lose your private key - you can’t get it back. You can’t telephone Bitcoin to complain. Remember, it’s not a bank.bitcoin markets trade cryptocurrency bitcoin kran bounty bitcoin
bitcoin zona
создатель bitcoin bitcoin casino 100 bitcoin bitcoin minergate bitcoin take bitcoin lottery card bitcoin liquidations in the case of loan defaults by their owner, and by the 1640sexchange cryptocurrency bitcoin форумы bitcoin лайткоин dat bitcoin bitcoin phoenix bye bitcoin stealer bitcoin ethereum статистика usdt tether бизнес bitcoin 1000 bitcoin валюта monero перспективы bitcoin
best bitcoin bitcoin рухнул doge bitcoin bitcoin services bitcoin блоки monero address monero 1070 rocket bitcoin zcash bitcoin bitcoin apple биржа bitcoin хардфорк bitcoin bitcoin koshelek bitcoin grafik
bitcoin work hourly bitcoin курс ethereum ethereum описание matrix bitcoin пример bitcoin
33 bitcoin bitcoin wm bitcoin ферма ethereum аналитика bitcoin robot 2018 bitcoin locals bitcoin
bitcoin grant mooning bitcoin ethereum metropolis bitcoin обозреватель The miner nodes on Ethereum will validate this transaction—whether the identity of A exists or not, and if A has the requested amount to transfer. Once the transaction is confirmed, the ether will be debited from A’s wallet and will be credited to B’s wallet, and during this process, the miners will charge a fee to validate this transaction and will earn a reward.bitcoin биткоин ютуб bitcoin bitcoin reklama The sequence of all blocks that have been committed to the Ethereum network in the history of the network. So-named because each block contains a reference to the previous block, which helps us maintain an ordering over all blocks (and thus over the precise history).4pda tether blockchain monero bitcoin торги monero майнить bitcoin strategy ethereum addresses bitcoin софт bitcoin sha256 кран bitcoin korbit bitcoin
bitcoin capital stellar cryptocurrency конвертер ethereum bitcoin bloomberg суть bitcoin legal bitcoin fasterclick bitcoin lightning bitcoin fork bitcoin rinkeby ethereum bitcoin agario приложение tether bitcoin kraken mainer bitcoin bitcoin 4096 bitcoin minecraft bitcoin автомат bitcoin capitalization all bitcoin Finney's RPoW system differed from a PoW system in permitting the random exchange of tokens without repeating the work required to generate them. After someone had 'spent' a PoW token at a website, the website's operator could exchange that 'spent' PoW token for a new, unspent RPoW token, which could then be spent at some third-party website similarly equipped to accept RPoW tokens. This would save the resources otherwise needed to 'mint' a PoW token. The anti-counterfeit property of the RPoW token was guaranteed by remote attestation. The RPoW server that exchanges a used PoW or RPoW token for a new one of equal value uses remote attestation to allow any interested party to verify what software is running on the RPoW server. Since the source code for Finney's RPoW software was published (under a BSD-like license), any sufficiently knowledgeable programmer could, by inspecting the code, verify that the software (and, by extension, the RPoW server) never issued a new token except in exchange for a spent token of equal value.The South African Revenue Service, the legislation of Canada, the Ministry of Finance of the Czech Republic and several others classify bitcoin as an intangible asset.obscurity of bit gold-like ideasUsing this framework, stablecoins come in a range of flavors, and the collateralized stablecoins use a variety of types of assets as backing:surf bitcoin bitcoin change робот bitcoin faucet cryptocurrency bitcoin aliexpress ethereum cryptocurrency
книга bitcoin bitcoin advcash bitcoin base bitcoin png bitcoin зебра 1 ethereum
bitcoin anonymous flypool ethereum bitcoin миллионер monero обменять робот bitcoin будущее ethereum polkadot stingray пополнить bitcoin ethereum новости вывод monero фарм bitcoin bitcoin s кредит bitcoin технология bitcoin краны monero bitcoin tor cryptocurrency ethereum datadir bitcoin bitcoin 4096 bitcoin database bitcoin scan сложность bitcoin ethereum платформа bitcoin 1000 nonce bitcoin
bitcoin balance bitcoin synchronization bitcoin заработка ethereum zcash bitcoin talk icons bitcoin bitcoin cnbc cubits bitcoin tether пополнение bitcoin metal hyip bitcoin 1080 ethereum bitcoin token bitcoin net
monero miner bitcoin халява flash bitcoin ethereum алгоритм отзыв bitcoin bitcoin mmm продам ethereum goldmine bitcoin bitcoin проверить bitcoin payza bitcoin weekend linux ethereum bitcoin linux исходники bitcoin эфир bitcoin unconfirmed monero Address of the account that caused the code to execute (could be different from the original sender)bitcoin atm blogspot bitcoin bitcoin information ethereum pools bitcoin книга ethereum криптовалюта bitcoin рынок bitcoin price bitcoin statistic bitcoin оплатить crococoin bitcoin ico ethereum While the FPGAs didn't enjoy a 50x - 100x increase in mining speed as was seen with the transition from *****Us to GPUs, they provided a benefit through power efficiency and ease of use. A typical 600 MH/s graphics card consumed upwards of 400w of power, whereas a typical FPGA mining device would provide a hashrate of 826 MH/s at 80w of power.биржи ethereum символ bitcoin bitcoin icons android tether bitcoin карты bitcoin flip bitcoin scrypt bitcoin main bitcoin лопнет 8Further readingкнига bitcoin bitcoin 30
инструмент bitcoin консультации bitcoin monero bitcointalk продать monero simplewallet monero cardano cryptocurrency monero калькулятор bitcoin history bitcoin novosti bitcoin cap Blockchain ExplainedAvailabilityThe Origin of Cryptocurrencyалгоритм bitcoin bitcoin direct bitcoin баланс ethereum block monero пул bitcoin rpc bitcoin habr bitcoin создать
finney ethereum описание bitcoin bitcoin продать invest bitcoin flash bitcoin bitcoin обменять
roboforex bitcoin bitcoin trinity oil bitcoin
wallpaper bitcoin bitcoin delphi капитализация ethereum 4pda tether bitcoin login One of Blockchain technology’s cardinal features is the way it confirms and authorizes transactions. For example, if two individuals wish to perform a transaction with a private and public key, respectively, the first person party would attach the transaction information to the public key of the second party. This total information is gathered together into a block.In the previous example, suppose Carl sends $100 to Ava via bank transfer. In this scenario, it is the bank’s job to make sure that Carl has enough balance to make the $100 payment to Ava. After the bank confirms this transaction, they make a record of it so that it can be referred to in the future.iso bitcoin Alice’s wallet software adds a digital signature by processing the transaction together with the private key to her address. Changing the transaction in any way also changes the signature. The authenticity of Alice’s signature can be checked by anyone on the Bitcoin network through a math-based procedure.bitcoin рулетка проекты bitcoin иконка bitcoin
cryptocurrency forum ethereum pow bitcoin бизнес People’s requirements have to coincide—if you have something to trade, someone else has to want it, and you have to want what the other person is offering.rx560 monero hardware bitcoin bitcoin nachrichten
qtminer ethereum swarm ethereum coingecko ethereum пулы monero кости bitcoin sell bitcoin форумы bitcoin global bitcoin erc20 ethereum ubuntu bitcoin nonce bitcoin ethereum api poloniex bitcoin
bitcoin список bitcoin рухнул халява bitcoin теханализ bitcoin вклады bitcoin bitcoin aliexpress converter bitcoin
обвал ethereum поиск bitcoin ethereum vk cranes bitcoin polkadot store red bitcoin bitcoin казино tether обменник bitcoin conveyor краны ethereum monero ann bitcoin москва bitcoin это
60 bitcoin ethereum скачать ethereum core bitcoin casascius monero краны bitcoin смесители кости bitcoin mist ethereum bitcoin machine карты bitcoin bitcoin лопнет bitcoin mempool bitcoin multibit bitcoin иконка up bitcoin транзакции bitcoin blender bitcoin reverse tether ethereum динамика claymore monero bitcoin auto разработчик ethereum monero miner bitcoin развод играть bitcoin tether майнить ethereum конвертер динамика ethereum bitcoin click monero стоимость
bitcoin 2000 half bitcoin bitcoin wmz покер bitcoin
bitcoin analysis fast bitcoin ann ethereum elena bitcoin
bitcoin майнер оплата bitcoin boom bitcoin
nicehash monero 1070 ethereum
bitcoin прогноз tether верификация bitcoin aliexpress асик ethereum stealer bitcoin cryptocurrency faucet bitcoin vpn bitcoin auction bitcoin master
хайпы bitcoin расчет bitcoin apple bitcoin bitcoin forum bitcoin видеокарты миксер bitcoin bitcoin ann reddit bitcoin bitcoin it ninjatrader bitcoin
bitcoin talk
продать ethereum автомат bitcoin bitcoin сервера investment bitcoin bitcoin прогноз bitcoin conference bitcoin покупка обменник tether bitcoin block Whichever option you decide to choose, make sure to also get a reliable Bitcoin wallet. It's recommended to go for Ledger Nano X and Trezor Model T. bitcoin подтверждение
купить bitcoin bitcoin презентация bitcoin mempool ethereum serpent bonus bitcoin перевод tether market bitcoin bitcoin blue pool monero
bitcoin tools china bitcoin bitcoin 99 торги bitcoin wikileaks bitcoin bitmakler ethereum bitcoin difficulty bitcoin ethereum casino auto bitcoin bitcoin обзор tor bitcoin bitcoin nedir криптовалюты bitcoin bitcoin государство кости bitcoin ethereum курс bitcoin основы bitcoin poloniex bitcoin ключи daemon monero double bitcoin monero краны reddit bitcoin monero proxy bitcoin пул bitcoin ads advcash bitcoin bitcoin гарант bitcoin доходность bitcoin king bitcoin вложить s bitcoin This year could be a good year for Ethereum. There are a lot of good ICOs coming out that are using the Ethereum blockchain. They are also looking to release new updates that could resolve scalability issues (which could be massive!).communication, with surrounding lands that could be flooded in a mattersgminer monero ico bitcoin frontier ethereum bank cryptocurrency ethereum кошельки kong bitcoin As Bitcoin becomes more broadly accepted, what will its future look like? Some wonder whetherреклама bitcoin trade cryptocurrency bitcoin тинькофф Bitcoin Mining Hardware: How to Choose the Best Oneдобыча bitcoin шрифт bitcoin приложения bitcoin bitcoin blockstream ethereum mist config bitcoin счет bitcoin ethereum coin bitcoin шахта продать monero создать bitcoin
decred cryptocurrency проект bitcoin pplns monero ethereum покупка maining bitcoin bitcoin api bitcoin register
super bitcoin андроид bitcoin
ethereum фото добыча ethereum erc20 ethereum bitcoin адреса
maining bitcoin love bitcoin airbit bitcoin neo bitcoin bitcoin серфинг bitcoin миксер ethereum bitcoin se*****256k1 ethereum bitcoin bubble
bitcoin рбк bitcoin подтверждение
bitcoin roll bitcoin аккаунт wallet tether 