Blockchain technology promises good changes in multiple areas in the world. But for many people, it can be daunting to imagine the good changes that it offers since not all folks are used with the new stuff. If you are one of them, you might wonder about the blockchain use cases in real life. Well, we are going to get to it. So, stay tuned.
By far, people have to deal with hefty fees when they want to send money internationally. When you want to send the money to your relatives overseas, it can be a nuisance because of the fees and time processed by the third party.
So we are here with the cryptocurrency use cases. The blockchain technology has solved this problem. The cryptocurrencies are the digital currency which is based on the peer-to-peer transaction. There is no third party involved.
The wallets of crypto enable the users to send and receive money without long bureaucracy. Since there is no third party involved, the fee is much lower and the time of transaction is much faster. You can say goodbye to time-consuming and hefty fees.
Supply chain management
The other blockchain technology development application case is the supply chain management problem. We have been concerned about how people would like to investigate the incidents occurring in the supply chain. But in most cases, it is hard to trace the supply chain. the victims will always be the customers.
The blockchain technology enables trustworthy records of digital assets. With this practice, each product will be tagged with the absolute marks which consist of the date of production, time, location, etc. All these factors can be tracked down easily with the help of blockchain.
We cannot tolerate what happens back then with Cambridge Analytica scandal. That is the solid proof that the centralized entities have too many slits so that irresponsible parties can breach and steal the identity.
The digital identity, if handled by the wrong people, can be dangerous and volatile. Many companies have made it to show to develop blockchain applications to solve the issues with the digital identity. The solution is simple but absolute. Blockchain gives the privilege back to the users. the users or individuals involved can control who can access it. Without their permission, no one would be able to access their digital identity.
It is also the important blockchain use cases that we shouldn’t overlook. We have seen there are a lot of voter fraud cases around the world. From the bottom to the top of elections, the world has been plagued with cheaters. The voting activity is normally conducted by online tools. But with the fraud and security issues, the public has been declining the practices of voting.
Blockchain can solve this problem. The clear record of votes won’t be tampered by anyone else because of its ample security.
Overall health has always been a primary concern in humanity. Many patients can’t get the proper treatments because their doctors are hardly finding the medical history of their patients. Therefore, appointing the specific medical solutions can be more challenging than before.
The blockchain can help to solve this problem by providing the tamper-proof database which supports the patients’ medical records. Once they are stored, no one can mess with it. It is also easier for doctors to attain accurate information about their patients’ medical backgrounds.