Applications and uses of blockchain technology

The blockchain is a database which stores all the transactions in the form of a hash. The blockchain has the capacity to transform the stability, security, and opacity of networks in need. Blockchain has a lot of advantage. We discuss on blockchain technology importance in various fields.

Blockchain in Asset Management –

In Asset management blockchain technology helps to transfer assets more securely. An asset can be in many forms like a server, laptop or any computer or service. Blockchain technology uses a shared ledger capability. The blockchain is deployed in five key events like asset capitalization, validation of asset, warranty activation and installation of the asset.

Blockchain in Real Estate – Transactions in real estate are heavy, opaque and more cost mainly because this involves with the various middlemen like brokers, government property databases, title companies, escrow companies, offices, etc. The blockchain technology will give every property, everywhere, to have a unique digital address that contains residency and physical attributes that convey constantly and maintains all the online transactions data.

Blockchain in Finance – This is the very vital process, which becomes more cost and inactive, due to the presence of unnecessary brokers is cross-border payments. For finance Services like Western Union can be preferred which are faster but they are of too much cost. The blockchain can speed up the process and simplify it, by cutting out the unnecessary middlemen. At the same time, it makes money fees more-less expensive. Until now, the costs of payment were 5-20%. The blockchain technology has lower the costs to 2-3% of the total amount and provides safe and more secure real-time transactions across any places.

Blockchain in the IoT - IoT solutions using blockchain can be built to set of record list of cryptographically secured data records protected against alteration and modification. For instance, as an IoT connected asset with sensitive location and temperature information moves along various points in a warehouse or in a smart home, this information could be updated on a blockchain. This allows all involved parties to share data and status of the package. you can also learn more on blockchain in blockchain education

Blockchain Assisting Weddings – It is possible to look for marriage proposals for bride and groom in online and then physically meet and get to know each other and finally making commitments and involving in a marriage. Now this entire end to end process can be done online, right from finding someone to getting the monetary wedding gifts. In 2014, the first wedding was between Joyce and David Mondrus.

Conclusion: thus the blockchain system has strengthened our system in various fields and In the future, we may expect a high demand for blockchain technology in some more fields. You can also learn more on blockchain in blockchain online course