Blockchain represents data and transaction security: unchangeable blocks of data that are decentralized and distributed on public, private or hybrid computer networks. (“Immutable Distribution.”) Blockchain establishes faster, more efficient, more transparent, more accountable and less expensive operations and transactions. Following are some examples of blockchain usage.
ACCOUNTING AND AUDITING
Blockchain decreases the possibility of errors and ensures the integrity of the records.
Healthcare devices will be able to store data they generate on a healthcare blockchain and append the data to a person’s medical records.
Property blockchains can quickly verify finances, reduce fraud and provide transparency to the entire process.
Blockchain could be used to execute energy supply transactions, as well as metering, billing and clearing processes.
Governments are responsible for maintaining individuals’ records, such as birth and death certificates. Blockchain can simplify record keeping and make the records far more secure.
Every vote can be transparently and irrefutably traced to its source without sacrificing a voter’s anonymity. You cannot change the past and you cannot hack the present and you cannot alter access to the system.
The fact that every computer on the network is continuously verifying the information makes the blockchain an excellent tool for storing public data.
Tokens bind the physical and digital worlds. Tokens stand as the identity of their respective blockchains, offering access to the services or solutions provided by their resident platforms. More famously, they also serve as digital assets and opportunities for investment, depending on how much the community values their platforms. In the physical realm, tokens are used for supply chain management, intellectual property identification, anti-counterfeiting and fraud detection.