How Will Blockchain Affect Daily Life Routines: 6 Real-life Scenarios?

by Blockchain council Blockchain certifications

For all those who are exploring their career options in the field of technology, you cannot miss Blockchain technology. Blockchain professionals are in great demand by the industry. Blockchain is a fairly new technology, but the kind of prospects it holds for different sectors it has become one of the most sought-after technology. Blockchain technology came into the picture in the year 2009 and thereafter, there has been no looking back.

Once underlying technology for cryptocurrency exchange, it has now emerged as a separate entirety. You just name the sector, and Blockchain finds its application. Some of the features of Blockchain, which makes it inevitable are transparency, data security, no third-party interference, immutability etc. It takes the expertise of a Blockchain developer to implement this technology in real-life.

While many of us believe that Blockchain technology hasn’t yet proliferated in a real-life scenario, then we are here to break the ice for you. In this blog, we will be discussing, 6 real-life scenarios where you can find the application of Blockchain technology.

6 Use Cases Of Blockchain In Real Life

We will be bifurcating the use cases into six different sectors and then discussing some of the examples of the use cases of Blockchain in each of these sectors.

1. Supply Chain Management- One of the sectors where Blockchain can prove to be extremely beneficial is the supply chain management. It is important to track the supply of the product, its origin, and destination. Eventually, it helps in establishing the provenance of the product. Companies like IBM, Wallmart are making use of this technology.

IBM Blockchain, Blockverify, Origin Trail, De Beers, etc. are some of the places where Blockchain is being used.

• De Beers — It contributes to 30% of the market supply of diamonds. The company plans to use Blockchain in tracing the diamonds from the mines until the time it reaches the company.

• Blockverify — It also focusses on anti-counterfeit solutions using Blockchain to find out if there are any fake products.

2. Retail- Another segment where Blockchain can prove to be extremely beneficial is the retail supply. Here are a few examples of the use of Blockchain:

• Warranteer- It is a Blockchain application which allows the consumer to access information about the products they bought.

• Blockcpoint- It simplifies the creation of payment systems and allowing different payment platforms like a loyalty program, gift cards, mobile wallet to function.

3. Entertainment- Ever wondered how Blockchain professionals can make their way to the field of entertainment, then let us unfold the use of Blockchain in the field of entertainment :

B2BExpand- This application is based on Ethereum Blockchain, and they create cross-gaming video games.

Spotify- The popular music app was acquired startup Medichain Labs. The unison was to develop solutions via a decentralized database to aid better connect the artists and licensing agreements with the tracks on Spotify.

4. Healthcare- Another sector where Blockchain is finding extensive use in the field of healthcare. Here Blockchain platform can be used to keep all the medical records, and other data related to the patient’s medical history, which can be easily accessed by medical professionals.

MedicalChian- It was the first healthcare company making use of Blockchain technology to promote the storage and use of electronic health records, and this was used to deliver telemedicine.

SimplyVital Health — This is yet another popular Blockchain platform that enables the healthcare providers and patients to access, share and move their healthcare data.

5. Real Estate- Blockchain has proven to be extremely beneficial, even in the real estate sector. The problem of transparency, too much paperwork and litigation haunt the conventional working mechanism of real estate. But, with the help of Blockchain, these problems can be easily overcome.

BitProperty- It democratizes the real estate, by allowing people from any part of the world to invest in real estate.

6. Finance Sector- When we are talking about Blockchain, then we cannot miss its use cases in the financial sector. After all, Blockchain plays a pioneering role in the digital revolution of the finance sector.

ABRA — It is a global cryptocurrency wallet and app which allows you to buy and invest and store 20 cryptocurrencies like Litecoin, Bitcoin, Ethereum etc.

Circle- The Blockchain app from UK-based company allows you to send money via text without any fees.

There are a few of the many examples of Blockchain applications in real life. In the times to come, this is only going to increase, so, if you are looking for a great career option, then go for Blockchain online certification program by Blockchain Council. The program has been curated as per industry standards.

Blockchain is going to be the future, and if you want to be a key instigator of growth in it, then Blockchain online certification is the right way to achieve the same.

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Created on Apr 17th 2020 02:51. Viewed 341 times.


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