If we look here before the development of blockchain, this technology found itself in the limelight only because it was almost associated with BTC. Blockchain and bitcoin appeared to be two terms that were applied synonymously by many people around the world until a few years back. But, if we look at the last few years, more than half of the world has become clear about the technology, as a result of which the space between blockchain and cryptocurrency has widened and there are many great opportunities for blockchain. Looking at the present, Blockchain has also marked itself as a solution to two problems that businesses, across all industries, unanimously can face – scarcity and security transparency.
Today, in this blog, we will explore the top use cases for blockchain across various industries, including the revolutionary use of digital currency. Additionally, we’ll take a look at some of the forward-thinking brands that are changing the conversation around what blockchain technology is and its practical applications in both life and business.
Blockchain beyond digital currency
Despite its lots of advantages, one question that comes to mind is whether blockchain can store any other currency rather than Bitcoin. Anything possible in the digital format, is possible to store physically? Hence it is not easy to make all things possible. And it is too early to predict as well. However, as per the event scenario, we can say that blockchain technology is the key to success. As it has gone through several transactions, a variety of usage scenarios, and a huge user experience as well. But with the productivity advancement of the world in terms of economy in the form of digital and mobile technology, there is a need for more digital payment platforms which would not rely on the government.
Utilize cases beyond blockchain cryptocurrency
Here we will list out the best uses for blockchain that are recognized across a range of industries –
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Unified Communications
First of all, here if we talk about automated communication, blockchain has been able to make it more reliable, faster, and secure. Whereas, the automated conversation has already emerged as a big part of many industries. Companies may be able to make authorized communications more bi-directional, with blockchain.
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Cybersecurity
Whenever it comes to specific computer network usage in the cloud and business, generally speaking, centralized servers are used to store data. In addition, when you have all of your business data hermetically linked to a centralized system, you expose yourself to risks such as human error, corruption, hacking, and data loss. But, on the other hand, when you put your data in the blockchain-as-a-service model by employing a distributed, decentralized system, the chances of hacking are reduced manifold.
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Healthcare
Many blockchain use cases in healthcare have also begun to highlight just how disruptive the industry can be when combined with revolutionary technology. In simple words, blockchain has come up with an immutable architecture, which makes it easy to store EHR data in such a way that it does not face any hassles, and at the same time it is immune to any damages like breaches and hacks.
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Charities
Generally, people stay away from donating, mainly because of whether they are using it for the right reasons or not. Therefore, usually, blockchain solutions are introduced in the system, where the technology ensures that the money is being used where it should have been. Furthermore, to bring some transparency into the system, several BTC-based charities are springing into existence that can ensure that donors can see where and how their money is being used.
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