Top 5 Real-World Applications of Blockchain Technology

1. Top 5 Real World Applica?ons of Blockchain Technology Depending on the popularity and hype acquired by blockchain technology in the last few years, it won't say that blockchain is definitely a game-changer and also it can be considered as the next big thing to occurred in the inven?ons of the internet. In simple words, it stores a record of each transac?on that can be accessed by everyone who is all in to the networks, therefore elimina?ng the requirements of a centralized authority. It stores and collects the informa?on in an encrypted blockchain with much safety and security. Let's see at some of the top real-world blockchain technology applica?ons over various industries here. 1. Supply chain management The integra?on of blockchain technology in the supplychain industry can increase the overall efficiency of the supply chains and also give the exact iden?ty of the loca?on of each item in the supplychain. With this technology, it aids to avoid the loss of data, and also we can monitor the quality of the products while in produc?on. 2. Healthcare In the healthcare industry, the pa?ents will be an important one to look through and also the need to keep the right informa?on of each pa?ent's medical records safe and secure. Because the security and privacy of health data are very important. It can help to trach the batch and serial numbers of prescrip?on drugs. Nowadays, some of the hospitals have started to record the pa?ent's data with the latest ways of handling the data and they are using blockchain technology to store each pa?ent's record confiden?al. With the help of access key provided to each pa?ent can help them to access their medical records, therefore keeping the control of who can view the data. Pa?ent's diagnoses report can also be stored so that they can easily track the history of the pa?ent's health condi?ons.

2. 3. Food safety The use of blockchain in the food safety industry can have the ability to trace any kind of foods from its staring to your plate. By the use of an immutable feature of blockchain, the transport of food products can be traced from their beginning to the supermarket. In the case of food-borne infec?on occurs, the source of food contamina?on can easily be traced faster and accurately. 4. Digital vo?ng Avoiding fraudulent ac?vi?es in the vo?ng industry has always been a good concern. It won't occur herea?er. You can make your vote truly with the help of blockchain technology. It could make the vo?ng process more transparent and if any changes occur which can be easily iden?fied by the regulators who are handling this process. The token-based system is created with the blockchain would ensure the system of "one unchangeable vote per person". 5. Real estate Ownership and property details are en?rely stored in the blockchain networks, therefore it can be much easier to trace and transfer ownership safely and also can easily be viewed, altered, and updated whenever you required. To avoid the elimina?on of paper for the equa?on, it gives a very clear picture of the legal documents. Wrapping Up: The above-men?oned things are some of the real-world applica?ons of blockchain technology and it will con?nue to evolve and adapt more. Blockchain is one of the innova?ve technology which surprises most of the industries. The func?onali?es of blockchain technology are admirable and everyone has to remember that this is not the solu?on to any kind of problems and it suits according to the needs and surroundings. Because the applica?ons of blockchain technology will vary from one industry to the other. So, if you are planning to build blockchain networks for your industries to keep your informa?on more secure and safe from the hackers, reach out with an industry-leading blockchain development company. They can help you to build a blockchain network according to your business needs and circumstances.