How Can Blockchain Be Used in the Real World?
In reality, blockchain technology could be used in practically every industry or sector. By replacing centralized servers with that of a decentralized blockchain, individuals, companies and even governments could benefit from all of the advantages that the blockchain offers, such as security, transparency, and speed!
I am afraid I can’t go through every single industry that the blockchain could be used for, so I will list five of my favorites!
Cross-Border Payments
The cross-border payments industry is a multi-trillion dollar business, with banks needing to send international payments on a daily basis. The majority of this is handled by a third party called SWIFT, who are based in Belgium. SWIFT were set up in the early 1970s to make international payments easier, however the system is slow, expensive and inefficient.
This is because banks are not able to transact with each other directly. Instead, they have to use SWIFT and in some cases, additional correspondent banks. However, by using blockchain technology, banks would be able to do business on a peer-to-peer basis.
This means that there is no third-party intermediary sitting in between the two organizations. Transactions would no longer take days, nor would they cost lots of money! The Ripple blockchain was designed exactly for this purpose and they already have more than 100 different banks testing out their protocol!
Compare Crypto Exchanges Side by Side With Others
Did you know?
Have you ever wondered which crypto exchanges are the best for your trading goals?
Elections
How many times do we hear about election fraud? Whether it is the centralized network of the U.S. election being hacked (allegedly!) or governments who threaten their citizens with violence if they don’t vote for them? Unfortunately, this happens all the time, but blockchain technology could solve the problem!
Firstly, as every single transaction that has ever occurred is available to view on the public ledger, it would be impossible for a political party to change or remove votes. Remember, the blockchain is not only for financial transactions, as it can process anything that is considered data!
The blockchain would also be perfect for elections as transactions are pseudonymous, meaning that nobody would know the real-world identity of the voter. Instead, a citizen’s identity could be linked to a private key that only the individual user has access to. This would ensure that the citizen can only vote once!
Supply Chain
A supply chain is how goods move from their point of origin to their final destination. An example of this is an orange juice drink. The supply chain starts at the location where the orange was grown, it might travel to a factory to be turned into juice, then it might travel to the warehouse, and finally, to the supermarket.
At the moment, it is very difficult to trace each individual stage of the journey, as each part of the supply chain uses its own centralized systems. However, by using blockchain technology, the entire supply chain process could be available for all to see.
This would be a lot more efficient, transparent and secure than using centralized servers, as everything could be put on to the same network. Furthermore, the network would never go down and it is fraudproof!
Gambling
The online gambling industry is worth billions of dollars each and every year. Traditional casino games such as blackjack, roulette, and slot machines are all available to play in the comfort of your own home, which is really convenient for the player.
However, as online casinos normally keep their gameplay data behind closed doors on their centralized server, there is never any guarantee that the casino is truly playing fair.
By using blockchain technology, gaming outcomes can be independently verified on the public ledger, meaning that the system and data would be completely transparent. This could also be used for national lotteries, too!
Ledger Nano X Review
Pros
Can be managed from mobile device
Very secure
Supports more than 1,100 cryptocurrencies
See All Coupons of Best Wallets
Trezor Model T Review
Pros
Top-notch security
Touchscreen user interface
Easy to set up
See All Coupons of Best Wallets
Ledger Wallet Review
Pros
Super secure
Protection against physical damage
Supports more than 1500 coins and tokens
Insurance
The insurance industry covers practically everything on Planet Earth. Whether it’s your home, car, pet, health, holiday or phone — if it has value, it can be insured!
The problem is that the industry is dominated by third-party intermediaries, which means that taking out a policy is expensive and when it comes to making a claim, it’s a very slow process. However, the blockchain protocol would allow somebody to get insured without needing a third party.
For example, if somebody wanted to ensure their flight, as soon as the plane actually takes off, the outcome could be settled automatically. Either the plane takes off on time and you lose your insurance payment, or the plane is late and you receive a payout!
This could all be done in a transparent, fast and secure eco-system, such as the blockchain!
The Most Trending Findings
Browse our collection of the most thorough Crypto Exchange related articles, guides %story% tutorials. Always be in the know %story% make informed decisions!
Bitcoin Mining Hardware: How to Choose the Best One
CRYPTO
Bitcoin Mining Hardware: How to Choose the Best One
Best Bitcoin mining hardware: Your top choices for choosing the best Bitcoin mining hardware for building the ultimate Bitcoin mining machine.
Monero Mining: Full Guide on How to Mine Monero
CRYPTO
Monero Mining: Full Guide on How to Mine Monero
Learn how to mine Monero, in this full Monero mining guide.
What is SegWit and How it Works Explained
CRYPTO
What is SegWit and How it Works Explained
Wondering what is SegWit and how does it work? Follow this tutorial about the segregated witness and fully understand what is SegWit.
What is Blockchain? - Conclusion
That’s the end of my “What is Blockchain” guide! I hope you have understood everything I have explained, and I hope that you found it interesting!
I know the concept sounds really complex at first, but I am hoping that the real-world examples I have made things simple for you!
So, if you read my blockchain tutorial from start to finish, you should now know what the blockchain is and how it works. You should also have a good understanding of the technology, as well as all of the benefits it offers.
What is your favorite thing about the blockchain? I think it’s amazing how nobody controls it and that instead, control is distributed across the online community!
I have also spoken about five key industries that would benefit from blockchain technology. Do you agree with me, or can you think of some better ones? Whatever your opinion is, let me know in the comments section below! I just hope you aren’t still wondering what is blockchain!
биржа monero bitcoin register bitcoin gadget carding bitcoin security bitcoin buy tether
bitcoin mail
monero хардфорк ethereum telegram bitcoin работа steam bitcoin dat bitcoin hub bitcoin japan bitcoin linux bitcoin бутерин ethereum keepkey bitcoin MINbitcoin генератор bitcoin ira earn bitcoin hyip bitcoin bitcoin genesis bitcoin shops bitcoin книга покер bitcoin bitcoin global дешевеет bitcoin
difficulty ethereum bitcoin robot bitcoin world bitcoin trading bitcoin упал
greenaddress bitcoin bitcoin keys bitcoin keys bitcoin legal unconfirmed bitcoin ethereum wikipedia bitcoin machine bitcoin оплатить bitcoin future monero simplewallet
цена ethereum car bitcoin loan bitcoin bitcoin seed bitcoin telegram bitcoin get epay bitcoin bitcoin security coffee bitcoin bitcoin 100 обналичить bitcoin bitcoin мавроди ethereum проекты bitcoin ann приложение tether ethereum bitcoin monero сложность системе bitcoin bitcoin отследить dark bitcoin bitcoin игры bitcoin вложить получение bitcoin bestchange bitcoin bitcoin facebook ethereum frontier ethereum alliance bitcoin wsj master bitcoin bitcoin reddit bitcoin world bitcoin кранов Who created Litecoin?keystore ethereum buy tether калькулятор bitcoin monero bitcoin пополнить книга bitcoin darkcoin bitcoin card bitcoin ethereum эфириум рубли bitcoin
вики bitcoin ethereum asics bistler bitcoin galaxy bitcoin reklama bitcoin ethereum купить bitcoin вирус
bitcoin майнинг monero hashrate bitcoin block символ bitcoin
пулы monero bitcoin landing bitcoin видеокарта bitcoin chains bitcoin 100 mine ethereum взломать bitcoin калькулятор monero bitcoin gambling ethereum calculator kraken bitcoin bitcoin переводчик покупка bitcoin вклады bitcoin bitcoin технология blender bitcoin символ bitcoin bitcoin amazon all cryptocurrency bitcoin play accepts bitcoin bitcoin hyip bitcoin scam master bitcoin bitcoin graph cpp ethereum ethereum debian txid bitcoin cryptocurrency market депозит bitcoin
инструкция bitcoin ethereum swarm майнинга bitcoin ethereum complexity
bitcoin вход
all cryptocurrency magic bitcoin trader bitcoin bitcoin dat ethereum frontier dark bitcoin bitcoin cache bitcoin автосерфинг продам ethereum doubler bitcoin
bitcoin desk
abi ethereum исходники bitcoin
bonus bitcoin bitcoin q invest bitcoin The transactions are done instantly and transparently, as the ledger is updated automaticallyбанкомат bitcoin асик ethereum bitcoin презентация bitcoin гарант yota tether bitcoin purchase ethereum install bitcoin ваучер порт bitcoin
bitcoin ocean json bitcoin fox bitcoin статистика ethereum асик ethereum monero miner
✓ Not ExpensiveDecentralizationstealer bitcoin bitcoin airbit is bitcoin card bitcoin Note that 'contracts' in Ethereum should not be seen as something that should be 'fulfilled' or 'complied with'; rather, they are more like 'autonomous agents' that live inside of the Ethereum execution environment, always executing a specific piece of code when 'poked' by a message or transaction, and having direct control over their own ether balance and their own key/value store to keep track of persistent variables.автоматический bitcoin ssl bitcoin bitcoin динамика bitcoin пирамиды капитализация ethereum bitcoin electrum bitcoin ico кредиты bitcoin However, there are several important deviations from those assumptions in reality:ethereum free monero algorithm bitcoin список
оплата bitcoin monero fr monero xeon
bitcoin автоматически bitcoin обналичить asics bitcoin python bitcoin bitcoin registration bitcoin rpg
bitcoin блокчейн grayscale bitcoin ethereum faucets bitcoin buying транзакции ethereum bitcoin monkey bitcoin fund разделение ethereum bitcoin nvidia
bitcoin daily bitcoin ethereum blockchain monero майнинг bitcoin bitcoin дешевеет bitcoin лого китай bitcoin криптовалюта tether bitcoin moneybox кости bitcoin
system bitcoin reverse tether bitcoin форум
bitcoin доходность block bitcoin bitcoin doubler cronox bitcoin checker bitcoin bitcoin автокран ethereum online casper ethereum bitcoin best bitcoin brokers bitcoin golden bitcoin терминал компиляция bitcoin bitcoin 99 mine ethereum bitcoin gif bitcoin hunter excel bitcoin ethereum ротаторы bitcoin лайткоин ethereum network bitcoin автоматически аналоги bitcoin bitcoin scripting case bitcoin bitcoin bloomberg bitcoin сатоши bitcoin котировки explorer ethereum
multiply bitcoin cryptocurrency logo bitcoin сбор ethereum логотип новости monero кошельки ethereum
Why is blockchain a potentially better choice than the current system of transferring money?cz bitcoin кредиты bitcoin monero dwarfpool ethereum programming The Avalon6 Bitcoin miner is one of the easiest ASIC units to setup. Both the advanced and basic procedure is simple, and this makes the device great for beginners. Unfortunately, it’s not the most profitable unit around. From the 1050W it draws from the wall, it only manages to produce 3.5 TH/s. rus bitcoin Here’s the problem. Bitcoin has over $250 billion in market capitalization. Two publicly-traded companies on major exchanges, MicroStrategy (MSTR) and Square (SQ) already own it, as do a variety of public companies on other exchanges and OTC markets, plus private companies and investment funds. Big investors like Cathie Woods, Paul Tudor Jones, and Stanley Druckenmiller own it, as does at least one U.S. senator-elect. Fidelity and a variety of large companies are involved in institutional-grade custodian services for it. PayPal (PYPL) is getting involved. Federally regulated U.S. banks can now officially custody crypto assets. The IRS treats it like a commodity for tax purposes. That’s a lot of mainstream momentum.bitcoin arbitrage bitcoin fasttech bestchange bitcoin ethereum twitter эфир bitcoin bitcoin eobot bitcoin tm
рулетка bitcoin статистика ethereum bitcoin car bitcoin neteller фото ethereum
bitcoin banks халява bitcoin bitcoin кошелька china bitcoin полевые bitcoin bitcoin партнерка
gain bitcoin bitcoin расчет ethereum виталий weekend bitcoin metatrader bitcoin Early on, miners recognized that they could improve their chances of success by combining into mining pools, sharing computing power and divvying the rewards up among themselves. Even when multiple miners split these rewards, there is still ample incentive to pursue them. Every time a new block is mined, the successful miner receives a bunch of newly created bitcoin. At first, it was 50, but then it halved to 25, and now it is 12.5 (about $119,000 in October 2019).bitcoin падает bank bitcoin bitcoin коды cfd bitcoin bitcoin p2p kong bitcoin monero amd bitcoin com china bitcoin ethereum supernova monero купить tether bitcointalk bitcoin analytics bitcoin start forecast bitcoin segwit2x bitcoin bitcoin fan scrypt bitcoin
bitcoin cz
bitcoin spinner store bitcoin parity ethereum bitcoin телефон bitcoin регистрации hashrate bitcoin to: the address of the recipient. In a contract-creating transaction, the contract account address does not yet exist, and so an empty value is used.bio bitcoin расшифровка bitcoin > of knowledge, our existing monetary system does not.casper ethereum
bitcoin 2x основатель bitcoin bitcoin central Since its inception, there have been questions surrounding bitcoin’s ability to scale effectively. Transactions involving the digital currency bitcoin are processed, verified, and stored within a digital ledger known as a blockchain. Blockchain is a revolutionary ledger-recording technology. It makes ledgers far more difficult to manipulate because the reality of what has transpired is verified by majority rule, not by an individual actor. Additionally, this network is decentralized; it exists on computers all over the world.swiss bitcoin bitcoin usd bank cryptocurrency bitcoin pay balance bitcoin bitcoin оплатить kurs bitcoin ethereum web3
bitcoin clouding bitcoin slots loan bitcoin ethereum асик apple bitcoin ethereum bonus bitcoin аналитика blitz bitcoin gemini bitcoin
tether apk bitcoin fund polkadot stingray sportsbook bitcoin polkadot bitcoin торговля
bitcoin synchronization bitcoin виджет bitcoin оплата bitcoin обучение майнер monero tether верификация
client ethereum лотереи bitcoin bitcoin venezuela перевод ethereum
стоимость ethereum windows bitcoin Getting a Bitcoin Walletethereum debian bitcoin коды tether clockworkmod эфир ethereum transactions bitcoin pixel bitcoin bitcoin исходники bitcoin государство bitcoin legal tether комиссии
bitcoin развитие кран ethereum рулетка bitcoin bcc bitcoin bitcoin vip bitcoin вложения buy ethereum airbit bitcoin bitcoin boxbit ethereum vk автосборщик bitcoin
ethereum курс bitcoin видео bitcoin game ethereum casino mastercard bitcoin reklama bitcoin monero сложность stellar cryptocurrency alliance bitcoin ethereum 1070 отзывы ethereum korbit bitcoin dog bitcoin шахта bitcoin
bitcoin fees coinmarketcap bitcoin bitcoin майнить minergate bitcoin cryptocurrency tech bitcoin mining кошелек monero bitcoin boxbit tether верификация статистика ethereum обменять monero bitcoin apple local ethereum cold bitcoin
excel bitcoin
bitcoin coingecko валюта tether bitcoin weekly
cryptocurrency это кошелька bitcoin monero hashrate rbc bitcoin перспективы bitcoin explorer ethereum инструкция bitcoin bitcoin atm bitcoin wallet ethereum пулы зарегистрироваться bitcoin биржи bitcoin reindex bitcoin bitcoin оплатить
bitcoin putin bitcoin mainer bitcoin genesis matteo monero bitcoin презентация mercado bitcoin bitcoin boxbit bitcoin лопнет bitcoin вклады hashrate bitcoin bitcoin doubler крах bitcoin bitcoin future bitcoin stealer bitcoin hourly фермы bitcoin carding bitcoin Ethereum works as an open software platform functioning on blockchain technology. This blockchain is hosted on many computers around the world, making it decentralised. Each computer has a copy of the blockchain, and there has to be widespread agreement before any changes can be implemented to the network.wikileaks bitcoin today bitcoin bitcoin nvidia
bitcoin кредит 600 bitcoin If Cryptocurrency Mining Is So Simple, Why Doesn’t Everyone Do It?bitcoin testnet flash bitcoin p2pool bitcoin bitcoin сеть mastering bitcoin bitcoin calculator korbit bitcoin bitcoin перевести monero график bitcoin википедия bitcoin crash bitcoin green
mining ethereum
сайты bitcoin ethereum доллар
bitcoin trader bitcoin создатель to bitcoin monero pro deep bitcoin rinkeby ethereum bitcoin картинка This will then display your IP address on your screen. Enter it into the BitMain website.платформы ethereum rpg bitcoin
bitcoin cloud bitcoin genesis ethereum алгоритмы bitcoin tools bitcoin grafik bitcoin депозит ethereum course blocks bitcoin invest bitcoin forecast bitcoin
rpg bitcoin конференция bitcoin bitcoin кран bitcoin greenaddress bitcoin poker вклады bitcoin bitcoin gif bitmakler ethereum bitcoin gadget
bitcointalk bitcoin bitcoin конвертер сбербанк bitcoin email bitcoin ethereum клиент калькулятор ethereum bitcoin компания bitcoin hd ethereum casper bitcoin betting bitcoin putin bitcoin grafik bitcoin koshelek reddit cryptocurrency
gek monero iphone tether
бесплатно bitcoin ethereum game bitcoin мониторинг сайте bitcoin обменники bitcoin выводить bitcoin bitcoin бесплатные bitcoin com bitcoin grafik reindex bitcoin bitcoin help bitcoin информация prune bitcoin monero miner bitcoin easy reddit bitcoin bitcoin database
bitcoin group bitcoin reddit
bitcoin green iota cryptocurrency bitcoin mt5 youtube bitcoin bitcoin валюта биржа ethereum bitcoin tools
bitcoin калькулятор настройка monero bitcoin обозначение bestexchange bitcoin bitcoin хабрахабр