Blockchain

Consisting of a distributed and decentralised digital ledger, though the blockchain is often associated with cryptocurrencies like Bitcoin, in reality, wherever you require safe transactions, the technology may be used with phenomenal results. After all, it is resistant to data modification and leads to a host of ingenious possibilities:

Where Is The Blockchain Used?

Bitcoin

Cryptocurrencies

A distributed ledger for cryptocurrencies remains one of the blockchain's primary uses. The most notable of these is Bitcoin.

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Smart Contracts

In addition to being both trackable and irreversible, smart contracts enable automated escrow.

Money

Financial Services

The blockchain is being heavily adopted by financial institutions, as it may help speed up back office settlement systems.

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Supply Chain

Supply chain management and logistics are just some of the many areas employing blockchain tracking services.

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Healthcare

The blockchain may also be used as a protective measure for the IT components of healthcare software systems.

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Insurance

Blockchain adoption has also led to peer-to-peer insurance, parametric insurance and microinsurance software solutions.

Which Blockchain Platform To Adopt

Notable vendors offering platforms for the blockchain include IBM, Etherium and others.

Are You Looking For A Blockchain Solution?

What Can The Blockchain Do?

As with any other software technology, the blockchain should be fit for purpose. We recommend its application in the following areas:

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Internal Payments

While the gaming industry is the most commonly cited example, cryptocurrency-based payments can be applied in a variety of sectors.

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Online Voting

Voter data protection has become a growing concern, and is another area where the blockchain's tamper-proof capabilities are useful.

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Tracking Data

The blockchain helps businesses to keep track of their carbon footprint, and manage digital assets in a secure and decentralised way.

Building

ICO

Both ICO and STO/DSOs can help tokenise traditional assets (e.g. company shares) in addition to more innovative ones like intellectual property, real estate, art and individual products.