5 Innovative Uses of Blockchain Technology

Blockchain is an emerging technology in all over world . Interesting things happen in this technology, what? people becoming millionaires off a small investment. The reason behind , it is this : Blockchain.

Here are few interesting capabilities slight_smile:

1. Tracking the Food Chain

Many people don’t know where the food is coming from ? Because, they bought a food from corporate instead of former. So only food wastage happening. That’s why IBM creates Food Trust system which uses blockchain technology to record and track every step of food processing. This is creates consumer trust, maximize freshness and minimize food waste.

2. Paving way for the voting system

Now a days government around the world are trying to find safety, security and eliminating fake voters in voting system. The blockchain-based mobile voting platform, developed by Voatz, was only available to a select group of voters. They included the following groups: Deployed military members, other citizens eligible to vote absentee under the Uniformed and Overseas Citizens Absentee Voting Act (UOCAVA), and their spouses and dependents.
once blockchain technology is implemented in blockchain system, it may create a new road of democratic freedom.

3. Inventing a system for protecting workers

We are living in a global economy. And our home filled with goods made by other countries. In meanwhile, outsourcing products and offer low price goods to consumers it’s the good way for saving money. But, it’s increases workers efficiency. That corporate forces to workers is implementing abusive conditions. so, good example, coco cola creates a certain condition of system for their workers using blockchain technology.
Blockchain technology creates transparency, accountability to workers. In this way, workers going to be protecting on all over the world.

4.Revoultionizing Real estate

Everyone needs own house. using blockchain technology buyers and sellers directly contact with each other. Because, blockchain uses a decentralization mechanism so , it will be visible to everyone. So, it’s eliminates brokers, real estate agents, mortgage agencies . It’s creates buyers and sellers transaction directly without any other middle man.

Airbnb has already changed the hotel industry allowing direct contact between buyers and sellers. Like this blockchain do the same to real estate.

5. Steering Better Foreign Aid

when disaster or war happens lot of people will be affected in all over the world. That time funds brings to those people . In at that time corruption government people will interfere and steal from those in need.

Blockchain can help track donations and record every steps so this way that funds will reach the correct destination.

Original source, http://blog.ionixxtech.com/5-innovative-uses-of-blockchain-technology/

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Blockchain is newly developed technology which is also known as Distributed Ledger Technology(DLT),it is used for making a digital asset unalterable.It brings transparency in the usage of digital asset with the help of cryptographic hashing Techniques.For example if we take a google doc ,we will share it with other people, here sharing means doc is not copied instead it is distributed to other people and many people can access the doc at a time.This is called decentralized distribution.
Uses of the Blockchain Technlogy:
1)Digital Voting:
Blockchain brings the concept of digital voting.By digital voting we can put our vote digitally. The authorities can monitor the process of digital voting and they can report if some errors are occured,
2)Copyright to Digital content:
Another innovative use of blockchain technology is to provide copyright to digital content. Due to increase in usage of internet digital content is also increasing. so blockchain technology will make sure that digital content creators get their fair share according to their market.
3)Weapon ownership
Another use of blockchain technology is tracking of weapon ownership. Person who use weapons like gun should have license and ownership to use that,but nowadays people are neglecting this issue and this is increasing the crimes. So to avoid these problems blockchain technology tracks the ownership of the weapons.
4)Food Tracking
Another innovative use of blockchain technology is tracking the food items from its origin to our plate. By tracking the food items we can track the source of the contaminants ,and with the help of that we can reduce the food-borne illness.
5)Payment processing
online or digital payments are increasing day-by-day,but the main disadvantage of online payments is processing. Generally online transactions take 24 hours for processing,but with the help of blockchain technology the processing time can be reduced to seconds.

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