Everyone knows the word Bitcoin. Why? Because Bitcoin was the first cryptocurrency to hit it big, with each coin worth thousands of dollars today. Money speaks, which is why everyone hip to financing and investing jumped onboard the cryptocurrency train. However, have you ever stopped to consider what a cryptocurrency is and what it’s built upon?

That’s where blockchain technology comes into the picture, the peer-to-peer decentralized system that removes third parties from the exchange of good, services, and interactions between people today. Blockchain technology is proposing something that’s impossible between regular human beings: total security.

How?

Blockchain technology represents an innovation in information registration and distribution, eliminating the need for a third party to oversee digital relationships. Instead, blockchain creates an isolated community, where every interaction between users updates their version of events. Now, users no longer need to trust a third party, like a bank or a government. Instead, it’s a community by the people, for the people, with encryption technology that ensures every single piece of transmitted information is inaccessible by any other party. Each user has their own key, creating a personal ownership that was unavailable anywhere else in the world before.

With just one key, hackers can’t exist in the crypto-community.

Industries Leveraging Blockchain Technology

It didn’t take long for industries to pick up on the invaluable power of blockchain technology. Ameliorating fraudulent activity, businesses from banks to hospitals can utilize this kind of security for enhanced service provisions.

Here are just a few examples of blockchain technology in practice today:

1. Personal Identity: Every banking, financial, or health institution looking to safeguard personal information can do so through blockchain. Now, individuals can more freely engage with other actors without the threat of identity fraud.

2. Lottery: The concept of a lottery is appealing to everyone; yet, most people are afraid to trust lottery systems, suspecting rigging in the process. With blockchain, there is no middle party administering the funds and the betting anymore. Therefore, all participants can rest assured it’s fair play.

3. Voting: The recent election brought up the sensitive issue of voter fraud and the implications it can have in our world today. With blockchain-based voting, no individuals will have to tally votes, thereby exposing the true results. Instead, everything will be secured in the blockchain universe.

4. Good Deeds: Using blockchain technology, individuals can coordinate volunteering efforts and recognize each other for their good deeds with crypto-tokens. Heroism, volunteerism, and community-oriented efforts for helping each other are now possible, with good humanity records written to showcase humanitarian endeavors. The structure administers time tokens to capture volunteer hours and community service hours, as well as medallion tokens that award users for their good deeds. At the end of a lifetime, an individual can access their medallion cabinet and reflect on their contributions.

GCN

The Good Citizen Network is doing just that — rewarding platform users with the Good Citizen Token (GCT), exchanged anytime a good deed is completed. Centralizing volunteering efforts between individuals and nonprofits, GCN is proving that a truly social network is possible with a little technological support. The crypto-community is welcoming the notion with open arms.

Blockchain isn’t just about the monetary gains anymore.

•https://www.youtube.com/watch?v=PcELl1l7TSc