The concept of blockchain has been appealing for many people since its inception in 2009. The renowned industries around the globe started investing in blockchain. The firms and businesses are now looking towards blockchain as a provider of secure, fast, reliable, and transparent services.
The decentralized ledger technology is becoming popular and many companies like IBM, Samsung, SAP and alike are searching this technology via blockchain application. The blockchain provides a wide range of applications some of the important ones are discussed here.
The first and foremost important application of blockchain technology is wallet apps that ensure a direct link between a customer and a producer and provide safe, effective, smooth and cost-effective transfer of payments and funds. Examples of the companies using this app are Abra, Bitwage and, Coinpip.
The blockchain has introduced encryption digital identities app and provide security to the confidential data. Also, blockchain ensures safe medical record storage of patients’ data recently, the Estonia government is making a partnership with a blockchain company Guardtime to maintain health records of all citizens.
In real Estate business, the task of storing and managing data is not easy. The blockchain has established Ubiquity app to align the operations safely. In the field of entertainment, the problems of copyrights and censorships are hard to tackle but, blockchain provides strong control and distributed databases that can solve these issues.
For the issues of tracking of orders and transactions in the transportation sector, the blockchain apps can be used. On a higher scale, the government can employ this technology to ensure transparency in voting procedures.
The Education sector can also use blockchain apps to monitor and update students’ record.
The scope of blockchain is not limited to the financial sector rather it covers a wide range like Uber and ola ride-sharing industries are utilizing blockchain apps.
The Ethereum wallet app can sort out the problem of charities by involving no intermediaries, as some third parties consume the money of charities.
The complexities in the supply chain management where different departments have to collaborate with each other for smooth functioning can be streamlined by the use of blockchain apps. DApps are famous and renowned blockchain apps that are being employed to execute smart contracts and provide a direct link of the parties.
Many new companies are striving to use blockchain apps to get maximum benefits in different sectors.