Blockchain is a technology, a platform where not
just digital currency, but anything can be digitally kept and recorded. That is, blockchain is a digital laser. At the same time, Bitcoin is a digital medium
through which we can buy and sell benches. However, it is wrong to call it a currency
because it has no value in the real world.
Uses :
Maintaining Public Records:
The government has many records which are locked in files. It is often difficult for the government to
determine their safety due to their loss or destruction for some
reason. So blockchain can become a big
solution for this. The government can
encode the data and upload it to the digital ledger.
Land Deal Use:
Land deals can be simplified by using blockchain technology. Blockchain can be a great help to make the
document work during this time safe and easy.
Telangana and Andhra Pradesh are using it for land deals.
Smart contracts
- Any industry if that relies heavily on contracts, such as insurance, financial
institutions, real estate, construction, entertainment, and law, all those
industries will be benefited with this technology. With the help of this technology, all
your contracts can be updated, managed, tracked and secured without any
dispute. Smart contracts, which are
embedded with if / then statements and which do not require the involvement of
the intermediary party to execute.
Personal Identification
- Governments often manage a lot of amounts of data such as personal data from
birth to death records, marriage certificates, passports census data
etc. Blockchain technology can easily
manage all these data according to the streamlined solution and can store them
securely.
Payment processing
- This is the speciality of Blockchain and it can easily handle the payment
processing of any big company. This can
completely eliminate the need for intermediaries, which we often see in payment
processing.
