The Blockchain continually transforms our lives by bringing in new ways to implement technology and use it in a creative and rewarding manner.
At its core, the Blockchain is a ledger that maintains a record of economic transactions. Every transaction is a block and it’s combined to create a chain in the long run. We can have a copy of the blockchain, so this allows transparency, all while making it easy to bring in more security as well. But what Blockchain's most compelling use cases are there?
Sending funds digitally
With a solution like Cardano, a third-generation blockchain, you have the opportunity to send and receive funds digitally with great ease. Cardano itself is a Smart Contract platform, which means you get security, scalability, sustainability, and interoperability. The platform wants to create a treasury system that will help bring in grants to focus on growth and development.
One of the best Blockchain use cases is to preserve your identity and eliminate identity theft situations. The idea here is that you can have your own encrypted digital hub and there you can store your identity. The hub can be encrypted, kept in the Blockchain and you would choose who has access to your data.
There are many countries where voting is not seen as fair. Transparency is key here, and the Blockchain systems could be used to encrypt and maintain votes there. No one would touch, voter fraud would be removed, and things would be a lot better.
The Blockchain could have a copy of all your medical data and history. It would only be accessible from doctor offices, and they will know exactly what health issues you have, how to solve them, and so on.
Yes, this is one of those Blockchain use cases that are already in effect. The Blockchain is already used for accumulating funds, ICOs being a prime example of that. It helps immensely and both investors and the company creators obtain benefits from that.
Handling papers is not exactly the safest thing, so one of the Blockchain use cases would be to transfer notary services to the digital world. All documents would be in the Blockchain, accessible only by the customer and that can help quite a lot.
The Blockchain could be used as a place where all the trademarks and IPs are stored. This is great because you will have an exact date on when something was trademarked, not to mention the Blockchain can’t be tampered with. All data will be safe, and this way you will show exactly when you created a system.
One thing is certain, the Blockchain continues to stand out and it impresses everyone with its efficiency and amazing features. It’s powerful, full of amazing features and we can easily think of dozens of Blockchain use cases that can improve our lives. All we need is to check these out and think of new ways we could use to harness the Blockchain and enhance the way we work, interact with others, or protect our data!