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!
bitcoin вектор
autobot bitcoin падение bitcoin ethereum btc bitcoin кэш tether приложения bitcoin обменник луна bitcoin bitcoin system хешрейт ethereum программа bitcoin bitcoin weekend bitcoin отследить
ethereum dark community bitcoin ethereum pow обсуждение bitcoin график bitcoin криптовалют ethereum monero js bitcoin сервисы bitcoin список bitcoin telegram приложение bitcoin tether coin команды bitcoin bitcoin зарегистрироваться bitcoin fan bitcoin euro bitcoin boom 999 bitcoin tether addon
widget bitcoin торги bitcoin криптовалют ethereum tether отзывы bitcoin darkcoin обвал ethereum exchange monero bitcoin hyip monero сложность bitcoin сети ethereum rig wallet tether bittorrent bitcoin виталик ethereum динамика bitcoin bitcoin nodes bitcoin friday cryptocurrency reddit майнер ethereum spots cryptocurrency bitcoin get buy ethereum agario bitcoin ethereum токены bitcoin swiss talk bitcoin captcha bitcoin
xmr monero bitcoin anonymous котировки bitcoin
bitcoin world вывод monero
bitcoin серфинг tether usdt динамика ethereum it bitcoin пополнить bitcoin factory bitcoin alpari bitcoin unconfirmed bitcoin mooning bitcoin ethereum swarm bitcoin apple Professor Nouriel Roubini of New York University has called bitcoin the 'mother of all bubbles', writing that the underlying blockchain technology has 'massive obstacles standing in its way', including a lack of 'common and universal protocols' of the kind that enabled the early Internet. According to Roubini, bitcoin has failed as a unit of account, a means of payment, and as a store of value; he calls the claim that bitcoin cannot be debased 'fraudulent'. 'Scammers, swindlers, charlatans, and carnival barkers (all conflicted insiders) have tapped into clueless retail investors' FOMO ('fear of missing out'), and taken them for a ride,' he writes.кран ethereum Dapps are early, experimental, and developers have yet to solve several crucial problems with the underlying network holding them back. For one, dapps can be very expensive to run when Ethereum grows more congested with users. Although traditional apps sometimes have issues with scale, those issues are exacerbated in a decentralized environment, which by its nature can’t operate without a certain level of cooperation and coordination among multiple stakeholders.Each form of stress hardens the bitcoin network and often for different reasons. Whenever governments take action in an attempt to ban bitcoin or otherwise restrict its use, the network continues to function unperturbed. China and India, countries with a combined population of 2.7 billion people, have both taken material actions to curb the spread of bitcoin. Despite this, the network as a whole continues to function without flaw, and bitcoin continues to be used in both countries. After the RBI (Central Bank of India) restricted the ability for banks to service bitcoin or cryptocurrency-related companies, the Supreme Court in India ultimately overturned the ban as unconstitutional. It sets precedent in more ways than one. First, that the central bank was overruled; second, that the ban was ultimately unsuccessful as people continued to find ways to access bitcoin; and third, that despite these actions, the network was unphased. Separately, China has taken measures to restrict the ability of exchanges to facilitate bitcoin trading and has expressed an interest in eliminating bitcoin mining. Similar to India, people continue to use bitcoin in China and the bitcoin network has been undeterred. Naturally, as government regulation in China has become more restrictive, miners have begun to look to more stable jurisdictions. Bitcoin mining in the United States (among other regions) continues to grow, and Peter Thiel recently backed a startup that is building out mining operations in West Texas. Regardless of the threat, bitcoin exists beyond countries (and governments). The network adapts to jurisdictional risks and continues to function without interruption. As network participants observe the failed attempts to inhibit bitcoin’s growth and witness how it adapts, bitcoin does not merely remain static; it actually becomes more resilient through this process by routing around and immunizing each passing threat.bitcoin ru
For example, one Litecoin would have set you back more than $300 at the end of 2017 ($306.87 on December 15, 2017), but the currency dropped to around $30 by January of 2019. At the time of this writing, one Litcoin is worth $140.96. bitcoin database сайт ethereum The Ethereum network is designed to produce a block every 12 seconds. Block times will vary based upon how long it takes miners to generate a hash that meets the required mining difficulty at that moment. 12 seconds was chosen as a time that is as fast as possible, but is at the same time substantially longer than network latency. A 2013 paper by Decker and Wattenhofer in Zurich measured Bitcoin network latency and determined that 12.6 seconds is the time it takes for a new block to propagate to 95% of nodes. The goal of the 12 second design is to allow the network to propagate blocks as fast as possible without causing miners to find a significant number of stale blocks.investors seeking to understand Bitcoin for the first time.bitcoin etf андроид bitcoin
bitcoin virus vps bitcoin монета ethereum bitcoin япония euro bitcoin vip bitcoin bitcoin 2017 Incentive AlignmentConsmagic bitcoin habrahabr bitcoin Potentially anonymousamazon bitcoin Bitcoin’s predetermined supply, a product of its radical commitment to resisting monetary caprice, is its solution to the problem. A grotesque, arrogant solution, to many opponents, but one that is critical to the design of Bitcoin. By holding this variable fixed, and iterating around it, Bitcoin aims to provide lasting, genuine scarcity and eliminate humans from decision-making altogether. This may come at a great cost. Opponents deride Bitcoin’s 'high' fees, although stable fee pressure will be ultimately necessary for security as the subsidy declines. And unlike nimbler projects, Bitcoin cannot fill its coffers from the spoils of inflation.bitcoin коллектор bitcoin billionaire ethereum пул ethereum network monero купить roulette bitcoin bitcoin payoneer bitcoin javascript claim bitcoin currency bitcoin ethereum russia создать bitcoin
bitcoin ферма bitcoin приват24 портал bitcoin All transactions, including the coinbase transaction, are encoded into blocks in binary raw transaction format.The first miner to solve these equations, and in the process verify transactions on the ledger, gets a reward, which is known as a 'block reward.' This reward is paid out in virtual coins, and is an example of how bitcoin transactions are verified. This process is referred to as 'proof of work.'ethereum сегодня Muir Glacier - January 2020аккаунт bitcoin invest bitcoin bitcoin antminer love bitcoin
asics bitcoin bitcoin продать ledger bitcoin майнинг bitcoin
analysis bitcoin blacktrail bitcoin ethereum coin monero новости instant bitcoin mine monero map bitcoin coinmarketcap bitcoin использование bitcoin tether верификация
matrix bitcoin monero btc bitcoin multibit кредит bitcoin bitcoin зарабатывать bitcoin goldman bitcoin com alipay bitcoin bitcoin форекс unconfirmed bitcoin xbt bitcoin bitcoin ферма bitcoin poker forex bitcoin bitcoin me Ethereum’s transactions take seconds to complete.Key Differencesbitcoin вебмани bitcoin mixer bitcoin easy bitcoin reward bitcoin гарант ethereum developer hyip bitcoin bitcoin ether cronox bitcoin bitcoin iq bitcoin cap bitcoin развод bitcoin casascius
торги bitcoin live bitcoin
ethereum pow 1 monero bitcoin окупаемость bitcoin loan bitcoin auction bitcoin doge skrill bitcoin
bitcoin конверт bitcoin выиграть bitcoin график bitcoin book книга bitcoin
программа tether happy bitcoin ninjatrader bitcoin 50 bitcoin
bitcoin grafik hack bitcoin bitcoin шахты порт bitcoin bitcoin перспектива bitcoin пул ethereum бутерин автомат bitcoin bitcoin grant ethereum forum ethereum info bitcoin развитие bitcoin loto играть bitcoin monero fee captcha bitcoin bitcoin pizza
cpa bitcoin cryptocurrency wallet free bitcoin халява bitcoin monero windows
carding bitcoin форк bitcoin free ethereum p2pool ethereum
bitcoin machine bitcoin rig bitcoin legal
bitcoin 9000 конвертер ethereum bitcoin planet bitcoin cudaminer сборщик bitcoin bitcoin tm scrypt bitcoin ethereum купить bitcoin cc video bitcoin bitcoin sha256
bitcoin форекс перспектива bitcoin ultimate bitcoin cryptocurrency capitalisation
ethereum charts bitcoin исходники fee bitcoin пулы bitcoin
create bitcoin bitcoin symbol кошелька bitcoin bitcoin anonymous контракты ethereum donate bitcoin bitcoin playstation ethereum статистика bitcoin форки bitcoin список ethereum stats bitcoin nedir перспектива bitcoin bitcoin биткоин bitcoin script home bitcoin bitcoin fan bitcoin golden bitcoin заработок panda bitcoin
китай bitcoin wirex bitcoin bitcoin avto best bitcoin
bitcoin mine The most popular cryptocurrencies, by market capitalization, are Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Other well-known cryptocurrencies include Tezos, EOS, and ZCash. Some are similar to Bitcoin. Others are based on different technologies, or have new features that allow them to do more than transfer value.bitcoin double
laundering bitcoin tether iphone bitcoin nonce bitcoin scanner monero difficulty by bitcoin short bitcoin bitcoin get
эмиссия bitcoin bitcoin лохотрон аналитика ethereum пул ethereum bitcoin капча bitcoin mt4 tor bitcoin ethereum testnet service bitcoin laundering bitcoin ethereum капитализация
bitcoin rotator pizza bitcoin block bitcoin команды bitcoin future bitcoin видеокарта bitcoin ethereum serpent платформ ethereum blockchain ethereum android tether новости monero
win bitcoin bitcoin school bitcoin 10 cryptocurrency charts ethereum foundation bitcoin status
fork bitcoin bitcoin future alpha bitcoin ethereum web3 bitcoin token
bitcoin сервера rpc bitcoin cryptocurrency forum торрент bitcoin
bitcoin wmz ethereum токен mmm bitcoin
стоимость monero теханализ bitcoin конвертер ethereum bitcoin обозначение rus bitcoin bitcoin отзывы платформ ethereum bitcoin fire bitcoin халява transaction bitcoin bitcoin farm bubble bitcoin ethereum alliance 'Bitcoin is Slow Motion'Soft forkbitcoin 2000 bitcoin торрент coinder bitcoin bitcoin banking bitcoin акции cryptonight monero jaxx bitcoin accept bitcoin приложения bitcoin bitcoin технология programming bitcoin ethereum кошелек обвал ethereum CRYPTOethereum course bitcoin монет bitcoin чат cryptocurrency это кошелька bitcoin prune bitcoin bitcoin explorer bitcoin count ethereum charts кости bitcoin bitcoin swiss alliance bitcoin bitcoin вклады бизнес bitcoin bitcoin symbol new cryptocurrency bitcoin расчет bitcoin script кошелек ethereum ethereum вывод is bitcoin bitcoin биржи
bitcoin мошенничество bitcoin darkcoin usb bitcoin cryptocurrency reddit математика bitcoin транзакции ethereum майнер monero
транзакции ethereum
bitcoin fork bitcoin cap free ethereum bitcoin wiki криптовалют ethereum asic ethereum bitcoin войти blacktrail bitcoin ethereum контракт bitcoin anonymous transactions bitcoin android tether bitcoin работа Like most cryptocurrencies, the price of Litecoin can be volatile. One of the best ways to keep track of the Litecoin price is by using the Exodus charts.api bitcoin bitcoin 50 ethereum обменники продажа bitcoin bitcoin орг
bitcoin биткоин обменять ethereum bitcoin daily bitcoin биткоин bitcoin hosting bitcoin database
bitcoin spin bitcointalk ethereum token ethereum bitcoin fan monero fr monero прогноз шифрование bitcoin
bitcoin maps е bitcoin ubuntu bitcoin blogspot bitcoin bit bitcoin обновление ethereum bitcoin лого
torrent bitcoin
обменники bitcoin joker bitcoin bear bitcoin bitcoin earnings bitcoin avto bitcoin microsoft bitcoin price bitcoin лотереи комиссия bitcoin bitcoin получить bitcoin оплатить tether yota As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:In mid-August 2011, bitcoin mining botnets were detected, and less than three months later, bitcoin mining trojans had infected Mac OS X.yota tether nonce bitcoin
circle bitcoin That’s where bitcoin comes in. With bitcoin, technology has given us a new, universal, accessible language of money. Bitcoin enables us to communicate directly with each other through the secure peer-to-peer exchange of digital funds. There’s no localization to decipher. No intermediaries to deal with. Just a simple, direct communication of value and need between the parties.phoenix bitcoin 1060 monero
bitcoin cap bitcoin халява bitcoin china sun bitcoin bitcoin cap bitcoin multibit qiwi bitcoin
bubble bitcoin pixel bitcoin boxbit bitcoin bitcoin multiply bitcoin investment eth bitcoin ethereum plasma trezor ethereum reddit cryptocurrency bitcoin lucky bitcoin capital bitcoin paw вложения bitcoin monero github bitcoin yen bitcoin книга
alien bitcoin майнер monero
• It is an asset that can be matched by equity and custodied without liability or counterparty risk.bitrix bitcoin fpga ethereum
