Blockchain concept. The application of Blockchain blockchain technology
What is Blockchain?
Blockchain or ledger, its original name is block chain, is a database system containing information, used to store information in linked information blocks. linked together, and managed by everyone involved in the system, instead of an individual third party such as the state or central bank; It also allows secure transmission of data by a complex encryption system, and is expanded over time.
The first widely known useful application from blockchain technology is probably Bitcoin and other cryptocurrencies, but Blockchain is currently revolutionizing most industries. Here are a few practical examples of the application of blockchain technology in life.
The application of Blockchain blockchain technology
1. Blockchain application in e-commerce
According to experts, the current retail market should gradually shift its services to online sales, taking advantage of the brand with a multi-channel strategy to achieve success and protect the current position. In general, consumer confidence and the high cost of distribution models are major challenges that need to be addressed by businesses to further e-commerce.
Those big challenges of e-commerce can be handled by smart contracts when applying Blockchain technology. Ms. Le Thuy Hanh, a businessman in real estate industry shared:
With Blockchain technology, I feel secure when signing smart contracts and bringing payment solutions to the website. From here we can easily do business and cooperate with many domestic and foreign businesses in a shorter time and many times simpler procedures.
Warranteer: A blockchain application that allows consumers to easily access information about products they have purchased and receive service support in the event of product malfunctions.
Blockpoint: Is an application that simplifies the creation of payment systems and acceptance of electronic wallets, loyalty programs, gift cards and other functions.
Loyyal: Supported by blockchain technology and smart contracts, this loyalty and rewarding customer service platform creates more customized programs, allowing customers to earn reward points from various brands. .
2. Blockchain application in agriculture
Do you know where your food, clothes, etc. come from? Supply chain management is an extremely complex field and often involves dozens of intermediaries from manufacturing to purchasing. So how can we ensure the quality, transparency and reliability of our products on a long journey from the manufacturer to the consumers? The answer is blockchain.
Food industry: A Blockchain application that can improve transparency and efficiency in figuring out where and where food can be contaminated throughout the supply chain.
OriginTrail: A blockchain platform that lets consumers know where the food products they buy come from and how they are manufactured.
3. Application of blockchain in financial and banking services
Bitcoin Atom: A new branch of Bitcoin that allows for easy exchange of cryptocurrencies with no transaction fees and cannot be hacked when trading, making Bitcoin truly decentralized. The technology is based on atomic swaps - seen as an invaluable tool for exchanging cryptocurrencies and without the need for a trusted third party. But for now, the widespread adoption of atomic swaps has been prevented because they require high technical skills; Bitcoin Atom can solve this problem in part.
Securrency: This is a cryptocurrency trading platform and several types of assets, including non-cash assets, are exchanged via Securrency tokens. The project allows cryptocurrencies to be traded outside of their dedicated transactions.
Ripple: Ripple aims to become a global payment solution provider by connecting banks, payment service providers, businesses and digital asset transactions, enabling instant settlement. instantly, according to global demand
ABRA: A global application and digital wallet that allows you to buy, invest and store 20 cryptocurrencies, including Bitcoin, ethereum, litecoin ...
Aeternity: This is a highly scalable blockchain platform that can be used for any application that requires high transaction speeds, including smart contracts created from chain payments, nano. and micro.
4. Application of blockchain in education and health
In 2010, a doctorate (PhD) from former Microsoft Chinese president Tang Jun received from Pacific Western University raised questions. Investigators found that not only were these schools not yet tested, the price of the degree was still too cheap: only $ 2,595 and the students didn't need any education. A year later, dozens of other senior managers were also involved in other large-scale fake degree cases from suspicious programs, which only required registrants to study ... "properly." Therefore, the need for Clear Transparency is extremely necessary.
When a patient goes for a test or examination, all their results will be stored in blockchain technology, which helps the patient to keep all information and test data confidential. In the case of patients wishing to transfer to anywhere in the world, they only need to retrieve their information and test results on the blockchain chain, whether two hospitals (initial examination and where cure new) not the same language or use different software.
MedicalChain: The first healthcare company to use blockchain technology to facilitate the storage and use of electronic medical records to provide a complete telemedicine (telemedicine) experience. . They are the actual doctors in the British health care system and want to change this system from the inside.
MedRec: To provide any healthcare provider with secure access to patient records, MedRec uses blockchain to save time, money, and repetitive processes in conducting procedures. between different facilities and suppliers. Patients also have access to their medical records to research health service providers.
5. Application of blockchain in electoral voting
Due to complex issues in security and electoral fraud, few countries have turned to electronic voting machines (EVMs).
It is hard to deny that EVM makes voting inert so more accessible and, therefore, promoting people's election participation. However, most countries have commented that the risks are greater than the positives.
Blockchain can provide a solution to this problem. The immutability of blockchain means that issues like dual voting, changing votes and removing votes will be "deleted" overnight. Blockchain will also eliminate the need for tallying and produce results almost immediately after the poll ends.
6. Intellectual Property, Gaming, Taxes, ...
Piracy is a problem that has been going on for a long time, and there seems to be no solution that can be completely solved until blockchain comes along. Perhaps, at the moment, this technology is the only solution to the problem.
Even if you are a musician, you always want to ensure that you will receive royalties when your music is released, or simply assert ownership of assets, Blockchain technology can Help us protect our property by creating indisputable property records in real time.
With the rise of in-game purchases and microtransactions *, many gamers now have an enormous repository of online items connected to their various accounts. Obviously, this creates security issues. What happens if a hacker steals it? What happens if the parent company's server is offline?
By deploying a blockchain, gamers will eventually be able to own these items and fully control their status. Transferring in-game items to others will also become easier and safer, and no one can copy them illegally.
While the blockchain provides us with transparency and can control our own data, this technology does the same for governments. And that alludes to one thing: collecting taxes.
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