Blockchain applications

15 Agosto 2018
15 Agosto 2018 d.baldi

Blockchain: The Future of Internet Innovation – Ideas, Applications and Uses for Blockchain Technology

If you haven’t heard of blockchain before, then we will be doing a quick explanation of what it comprises, but for the ones that do know, do you also know that blockchain technology is surely the next big thing? Because it is, and you need to get on the train before it leaves without you, so let’s find out what this internet innovation can mean to you.

What is blockchain technology?

We won’t get into the technical details here, there are other places where you can read all about this. What it comes down to is that blockchain technology allows there to be a transfer of currency or information without the need of a central third party, like a bank, and without needing to trust each other. This network is decentralized and completely transparent, which prevents corruption. Finally, it is also encrypted to ensure virtual security. This blockchain technology can have a lot more uses than just bitcoin, for what it is currently known mostly, so let’s look at some of the possibilities.

An expansion of the sharing economy

The sharing economy has already expanded greatly over the past few years with the come-up of Uber or Airbnb for example. These platforms allow people to share their belongings while making off of it as well, but this can work even better without the need for a third party, like the company of Airbnb. The blockchain technology could open up the doors to allow there to be a sharing economy without the intervening of a third party.

A new system of identification

Even in places where you wouldn’t expect it, even your own country, there are too many people without identification. This is exactly quite a big problem that could be easily solves with a new online identification, which can be made possible by using blockchain technology. Estonia is already doing this, so it has been proven to work, now more countries need to take over this example.

The entire financial system

This is no small application, and it won’t happen overnight, but I do believe that this is the future. In a couple of decades banks won’t be needed anymore within the new financial system. Transactions will happen via a blockchain technology system, without the intervening of a third party like a bank. This will prevent a lot of problems from happening, as there is no central system that can be hacked, and there is no third party with too much power that we are all dependent on.

A new form of cloud storage

Cloud storage has been a big thing the last decade, but we’ve also seen it go wrong a lot, as it’s not incredibly difficult to hack. You won’t need to put your trust into one provider to keep your documents and other information save. Via blockchain technology your information can be stored in a decentralized place, which makes it close to impossible to hack, and you do not need to put all your trust into one provider as well

These are only a few of the many possible applications for this new blockchain technology, so be prepared for everything that blockchain will bring to the world within the coming years. There are so many things possible with blockchain technology, and they will solve a lot of the problems we are currently facing. So, don’t wait any longer and start learning more about blockchain technology now that you have the time, so you won’t be in the unknown once the revolution hits us.

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