
Blockchain is the technology where a recording of information is done in a way that makes it very tough/hard or impossible to change, cheat or hack the system. It’s a digital ledger of transactions where it creates a chain by duplicating and distributing the transactions in the entire network of the system.
Blockchain Technologies are not only used to monitor or maintain financial exchange but can also be used in many other ways –
Healthcare- In Terms of healthcare blockchain can play an important role. The ledger technology smooths the way for secure transfer of patient medical records and manages the medical supply chain and allows healthcare researchers to unlock genetic code.
In other words, blockchain applications keep health records secure while establishing a single point of truth. Doctors, hospitals, and laboratories can all request patient’s information with a record source that keeps the patient’s identity safe from outside sources.
Real State- Blockchain works as a ledger distribution across the network that is unalterable and accessible to all. This technology has impacted real estate in many ways, including offering new buyers and sellers to connect, and it also helps to cut down the intermediates which reduce the costs.
Music- Media chains use smart contracts to get artists the money they deserve. Musicians can agree to get higher royalties and get paid in full and on time by entering into a decentralized transparent contract.
IoT- IoT Technologies is the next logical surge in Blockchain applications, with millions of applications and numerous security problems. As the number of IoT goods grows, hackers will have more opportunities to steal your data from anything from a smart thermostat. Blockchain-infused IoT provides a layer of security to prevent data breaches by leveraging the technology’s transparency and virtual incorruptibility to keep things “brisk” (smart).
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