The blockchain is set to transfigure the world with its wide-ranging applications. From education to finance, agriculture to energy, health to trade and marketing to healthcare, blockchain applications are considerably transforming the world.
A blockchain is basically a digitized, decentralized, public record book of all cryptocurrency transactions which is the main technological extension of Bitcoin. It is a leading platform for digital assets.
"Blockchain technology is not only being connected with money, it is more about economy's structure," Kadir Kurtulus, the head of Blockchain Association of Eurasia (BLASEA) told the Anadolu news agency.
With its distributed database approach, blockchain is attracting many tech startups as a secure and cost-effective way to create and manage a distributed database and maintain records for digital transactions of all types.
Applications of Blockchain
Financial Services
Distributed ledger technologies provide a shared, comprehensive and unalterable record of transactions that is why most financial service companies have started planning how these technologies might fit into their future strategies.
Internet of Things
IoT devices can collect data and process the data either locally or send the data to centralized servers or cloud-based application back-ends for processing.
From analytics to security, blockchain will possibly change the digital infrastructure
Government
Digital Identity
Healthcare
The future applications of blockchain are endless and are still underdeveloped. However late it may come, it is set to revolutionize the world.
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