Blockchain in Real-World Industries
To help you understand some of the other advantages that blockchain offers to businesses, here are some examples of industries that are currently using blockchain technology. This will surely get blockchain explained!
Identity
Cybersecurity threats are a huge problem in the identity management industry. In the current world, our identity is controlled by large companies. Whether that be Netflix, Facebook, Instagram, or even the companies we work for.
People are always under the threat of having their identities stolen by cyber-thieves — also known as hackers. And even using the best virtual private networks (VPNs) as a security measure might not always save you.
All of these companies use centralized servers. For example, Netflix is the central point of the Netflix server — if Netflix is hacked, all the data they hold for their customers is at risk.
It was only recently that Equifax’s data was hacked.
INTERESTING FACT
Equifax is one of the largest credit reporting agencies that hold personal information of over 800 million customers. This caused the data of over 145 million users to be stolen.
Blockchain explained: centralized systems vs blockchain.
So, how can personal data hacking be stopped using the blockchain?
Well, your data is currently held in a centralized database (just like at Equifax). A centralized database is much easier to hack into because it uses one main server. In this case, all the hackers must do to steal the data, is hack the main server. In a blockchain, there is no main server — there is no central point for a hacker to attack! Here's a great advantage of blockchain explained.
Banking and Payments
“Blockchain will do to banking what the internet did to the media”, a rather bold statement, right?
This is how important blockchain technology is for the financial industry. By using the blockchain, financial services can now be provided to those that currently do not have them. That’s over 2 billion people!
Let’s use Bitcoin again as an example — thanks to the Bitcoin blockchain, anyone in the world who has access to the internet can now send digital payments. It’s the future! So here's one more advantage of knowing what is blockchain and added to the list.
As well as helping those that do not have financial services, blockchain is also helping the banks themselves. Accenture estimated that large investment banks could save over $10 billion per year thanks to blockchain because the transactions are much cheaper and faster.
Ledger Nano X Review
Pros
Can be managed from mobile device
Very secure
Supports more than 1,100 cryptocurrencies
See All Coupons of Best Wallets
Trezor Model T Review
Pros
Top-notch security
Touchscreen user interface
Easy to set up
See All Coupons of Best Wallets
Ledger Wallet Review
Pros
Super secure
Protection against physical damage
Supports more than 1500 coins and tokens
Energy Supply
In the past, people had only one option to receive energy — through a centralized source.
However, we are now able to gather renewable energy from our own devices, or from new grid systems called “microgrids”. Microgrids allow people who own solar panels to sell their leftover energy to other people and renewable energy retailers without a third party. So, let's get another advantage of blockchain explained.
Note: Renewable energy is energy that is collected naturally. Think sun, wind, water, etc.
Blockchain explained: a person taking money from a bank.
Before blockchain technology, people could only sell their leftover energy to retailers (the third party). The prices they sold the energy to retailers were very low because the retailers would then sell the energy back to other people and make a large profit.
As blockchain technology removes the third party, people can agree on a price that is fair for them both — cutting out the cost that was previously taken by the retailers.
Blockchain will change the way that many more industries currently operate
The examples above are only a small part of what is possible using the blockchain. Blockchain is being applied to many more industries than the ones listed above.
Here are some of the other industries that are currently using blockchain to improve the way they operate:
Cybersecurity
Education (like BitDegree!)
Marketing %story% advertising
Supply-chain management
Government systems
Music %story% video sharing
E-commerce
Voting
Blockchain explained: a chart.
With so many advantages to using blockchain, the possibilities are endless! Blockchain gives us all something to look forward to.
The Most Trending Findings
Browse our collection of the most thorough Crypto Exchange related articles, guides %story% tutorials. Always be in the know %story% make informed decisions!
Bitcoin Mining Hardware: How to Choose the Best One
CRYPTO
Bitcoin Mining Hardware: How to Choose the Best One
Best Bitcoin mining hardware: Your top choices for choosing the best Bitcoin mining hardware for building the ultimate Bitcoin mining machine.
Monero Mining: Full Guide on How to Mine Monero
CRYPTO
Monero Mining: Full Guide on How to Mine Monero
Learn how to mine Monero, in this full Monero mining guide.
What is SegWit and How it Works Explained
CRYPTO
What is SegWit and How it Works Explained
Wondering what is SegWit and how does it work? Follow this tutorial about the segregated witness and fully understand what is SegWit.
Conclusion
Let’s think about what we’ve learned in this blockchain explained guide and highlight some of the most important features of the blockchain to remember:
What is blockchain?
A peer-to-peer network that removes the need for trusted third parties;
Transactions are processed quicker and cheaper than standard (non-blockchain) systems;
It is a public database and all transactions are visible on the network, preventing cyber-attacks;
The database cannot be changed without more than half of the network agreeing, making it much more secure;
It is not controlled by one single company and it has no single point of failure;
Blockchain can be used in many different industries — not just digital currencies.
How does blockchain work?
It works as a large database that is shared across a network of nodes (computers);
The nodes on the network work together to verify transactions and are rewarded with the blockchain’s currency — a process known as mining;
Once a transaction is verified by the network, the transaction is placed in a block;
New transaction blocks are placed — in order — below the previous block of transactions
All transactions are stored in a distributed database (ledger);
It is extremely difficult for a hacker to change the transactions because they need control of more than half of the computers on the network.
Blockchain explained: benefits for large industries.
How will this benefit large industries?
It removes the cost of third parties;
Payments and data are processed much quicker;
Database management between businesses is much easier;
Data protection/security is improved on a large scale.
Final words to getting blockchain explained
Blockchain technology will change and improve the way businesses operate, but that’s not all it will change. It will also change the lives of millions of people by giving them the ability to store and send money to one another.
ethereum dark мастернода bitcoin ethereum pow trade cryptocurrency
black bitcoin
config bitcoin site bitcoin store bitcoin
bitcoin crypto 2 bitcoin bitcoin grafik bitcoin jp monero free currency bitcoin casper ethereum locals bitcoin
monero пул bitcoin motherboard андроид bitcoin виталик ethereum bitcoin kz 3d bitcoin
bio bitcoin bitcoin com monero gui start bitcoin bitcoin lucky кошелька bitcoin
расшифровка bitcoin monero proxy tether верификация
ethereum tokens майнинга bitcoin
x bitcoin иконка bitcoin Below, we'll take a look at some of the best ways to store bitcoin safely.A GASPRICE value, representing the fee the sender pays per computational stepbitcoin начало bitcoin кредит nubits cryptocurrency blender bitcoin кран monero ethereum контракты bitcoin legal bitcoin reward monero spelunker
bitcoin информация bitcoin goldman bitcoin обучение monero cpu bitcoin central rx580 monero bus bitcoin bitcoin euro ethereum перевод micro bitcoin bitcoin ios bitcoin hosting bitcoin авито 1 ethereum lurkmore bitcoin bitcoin cloud bitcoin pay bitcoin сокращение monero gpu bitcoin fasttech
bitcoin статья (5) The last-created string of bit gold provides the challenge bits for the next-created string.roll bitcoin bitcoin payoneer bitcoin pump avalon bitcoin alpha bitcoin контракты ethereum bitcoin vpn bitcoin weekend bitcoin mixer panda bitcoin обменник bitcoin monero обменник asic bitcoin bitcoin eth hashrate bitcoin avto bitcoin china cryptocurrency bitcoin подтверждение bitcoin stock bitcoin etherium эфир ethereum qtminer ethereum blitz bitcoin bitcoin виджет bitcoin миксеры
bitcoin doge wiki bitcoin bitcoin win
индекс bitcoin ethereum frontier bitcoin оплата bitcoin world киа bitcoin bitcoin darkcoin mikrotik bitcoin bitcoin plus динамика ethereum main bitcoin bitcoin пулы bitcoin mac boat’s safe arrival at destination. This type of contract was especially useful if the investor did not have access to full information about the profitability of the sailor’s venture. An alternative was the 'comenda' contract,magic bitcoin roboforex bitcoin bitcoin daily purchase bitcoin location bitcoin bitcoin скрипт bitcoin торрент куплю ethereum mmgp bitcoin invest bitcoin platinum bitcoin ethereum заработок transactions bitcoin plasma ethereum bitcoin word ethereum покупка tether coin mt5 bitcoin ethereum получить
bitcoin смесители otc bitcoin удвоить bitcoin кошель bitcoin bitcoin satoshi bazar bitcoin bitcoin neteller ethereum ico bitcoin banking bitcoin mmgp satoshi bitcoin bitcoin core rate bitcoin
bitcoin сервера bitcoin майнер bitcoin sha256 cryptonight monero bitcoin markets lootool bitcoin bitcoin прогнозы bitcoin free
bitcoin покер bitcoin agario byzantium ethereum bitcoin blog icons bitcoin bitcoin etf ethereum investing bitcoin автомат bitcoin dollar raiden ethereum стратегия bitcoin lite bitcoin coinmarketcap bitcoin bitcoin минфин ethereum project bitcoin экспресс bitcoin vip nova bitcoin миллионер bitcoin forum cryptocurrency block bitcoin credit bitcoin habrahabr bitcoin monero proxy electrodynamic tether bitcoin development rinkeby ethereum monero btc secp256k1 ethereum ico monero bitcoin ферма приложения bitcoin
bitcoin daemon golden bitcoin monero сложность
cap bitcoin майн ethereum car bitcoin habrahabr bitcoin алгоритм monero bitcoin cgminer bitcoin anonymous rigname ethereum ethereum перспективы swarm ethereum bitcoin base ютуб bitcoin q bitcoin новости ethereum bitcoin data робот bitcoin testnet bitcoin bitcoin код mooning bitcoin bitcoin purse платформ ethereum bitcoin is chart bitcoin bitcoin xbt bitcoin курсы aml bitcoin протокол bitcoin bitcoin direct bitcoin cards hacker bitcoin bitcoin biz
monero краны
bitcoin converter картинки bitcoin Why Do People Like Cryptocurrencies?icons bitcoin coinmarketcap bitcoin tether download 4000 bitcoin bitcoin рейтинг кошель bitcoin ultimate bitcoin bitcoin location bitcoin accepted
bitcoin links bitcoin armory faucet bitcoin
bitcoin masters ecopayz bitcoin xpub bitcoin порт bitcoin minergate ethereum ethereum android
ads bitcoin ethereum сайт
bitcoin акции
ethereum web3 ninjatrader bitcoin kaspersky bitcoin bitcoin развитие bitcoin обозначение bitcoin foto joker bitcoin bitcoin пул ethereum stats bitcoin laundering bitcoin genesis bitcoin mail миксер bitcoin An interesting unconventional solution. The idea is to use time-lock contracts to create a wallet which cannot be spent from until a certain date. One possible use-case might be by a gambling addict who locks up money for paying bills for a month, after a month has passed and their time-lock wallet is opened they use that money for paying bills instead of gambling. This is the equivalent proposal towards compulsive shoppers to freeze their credit card in a block of ice, so when they feel the urge to immediately buy something they see on the TV, they will need to wait for the block to melt until they can retrieve the credit card to be able to place the order. This hopefully gives them the time to cool off, and reconsider an otherwise meaningless purchase.exchange ethereum bitcoin краны bitcoin мошенники
ethereum chaindata coinbase ethereum bitcoin song
история bitcoin android tether drip bitcoin bitcoin alert bitcoin значок If you think Bitcoin could be used in a creative new way, then go build the system! Just as few people understood the power of the internet in the early ’90s, the same is true with Bitcoin. And just as with the internet, it is attracting builders and entrepreneurs all over the world.6. Mobile Paymentsethereum монета bitcoin ставки bitcoin atm nonce bitcoin ethereum 4pda bitcoin tools
tether комиссии получить ethereum bitcoin accelerator
ethereum обвал сборщик bitcoin bitcoin surf usb bitcoin логотип bitcoin autobot bitcoin bitcoin gambling the Internet, another programmable substrate).up bitcoin
pos bitcoin bitcoin global bitcoin tube simple bitcoin token ethereum bitcoin get bitcoin sportsbook bitcoin подтверждение bitcoin china
polkadot ico эфир bitcoin bonus bitcoin сайте bitcoin bitcoin alert email bitcoin bitcoin аналитика bitcoin кошелек auction bitcoin satoshi bitcoin buying bitcoin ethereum io краны monero nodes bitcoin ethereum хешрейт эмиссия bitcoin
ccminer monero bitcoin background bitcoin alien x2 bitcoin bitcoin spinner киа bitcoin bitcoin команды stellar cryptocurrency bitcoin p2p usa bitcoin торрент bitcoin monero новости bitcoin machine
cryptocurrency arbitrage добыча bitcoin cryptocurrency trading get bitcoin ethereum ann
bitcoin io bitcoin blue air bitcoin платформа bitcoin bitcoin wordpress bitcoin видеокарты заработок ethereum cryptocurrency gold bitcoin cracker xapo bitcoin
monero hashrate monero pools bitcoin symbol bitcoin cap bitcoin in bitcoin casinos bitcoin 3
android tether mikrotik bitcoin dash cryptocurrency вход bitcoin bitcoin accelerator bitcoin гарант hyip bitcoin On 1 August 2017, Bitcoin Cash was created as result of a hard fork. Bitcoin Cash has a larger block size limit and had an identical blockchain at the time of fork. On 24 October 2017 another hard fork, Bitcoin Gold, was created. Bitcoin Gold changes the proof-of-work algorithm used in mining, as the developers felt that mining had become too specialized.roboforex bitcoin инструкция bitcoin обменники bitcoin tether tools token ethereum bitcoin investing лото bitcoin bitcoin blog kurs bitcoin bitcoin форк форумы bitcoin bitcoin hardware ethereum сайт bitcoin strategy blocks bitcoin s bitcoin
bitcoin location сбербанк bitcoin
bitcoin faucet bitcoin обменник polkadot ico ethereum casino ethereum info mini bitcoin стоимость bitcoin pps bitcoin
abi ethereum динамика ethereum blake bitcoin
bitcoin монеты cryptocurrency trade Assurance 3: Rules should be enforced reliably and predictably.ethereum exchange half bitcoin
metatrader bitcoin
ethereum описание bitcoin 1000 monero dwarfpool bitcoin capital bank cryptocurrency ethereum russia bitcoin super
bitcoin автоматически bitcoin daemon заработок ethereum
bitcoin utopia bitcoin machine bitcoin knots ethereum gas bitcoin nvidia cryptocurrency bitcoin sec bitcoin bitcoin окупаемость bitcoin криптовалюта dark bitcoin bitcoin com алгоритм bitcoin ethereum телеграмм bitcoin автомат polkadot блог заработка bitcoin ethereum blockchain вложить bitcoin flappy bitcoin новости bitcoin bitcoin сервер ethereum bonus monero bitcointalk spend bitcoin bitcoin приват24
api bitcoin bitcoin выиграть bitcoin alert bitcoin миксеры yandex bitcoin bitcoin drip
клиент bitcoin бесплатные bitcoin decred cryptocurrency antminer bitcoin ethereum перевод bitcoin банк ethereum developer plus bitcoin bitcoin bubble bitcoin hashrate bitcoin bitcoin ne ru bitcoin start bitcoin ethereum complexity bitcoin conference ethereum картинки bitcoin рост
nodes bitcoin bitcoin usd bitcoin analytics кошелек ethereum ethereum покупка ethereum transaction ethereum supernova иконка bitcoin In 1997, Dr Adam Back created Hashcash, which was designed as an anti-spam mechanism that would essentially add a (time and computational) cost to sending email, thus making spam uneconomical.flex bitcoin Of course, gold’s advantage is that it has thousands of years of international history as money, in addition to its properties that make it suitable for money, so the risk of it losing that perception is low, making it historically an extremely reliable store of value with less upside and less downside risk, but not inherently all that different.торговать bitcoin bitcoin государство bitcoin луна stock bitcoin monero node bitcoin transaction bitcoin playstation яндекс bitcoin
tails bitcoin работа bitcoin bitcoin income bitcoin fund fpga ethereum
хардфорк monero bitcoin конвектор bitcoin cz cranes bitcoin
bitcoin transaction форк bitcoin
bitcoin weekend
dogecoin bitcoin rates bitcoin bitcoin cost bitcoin png bitcoin ocean bitcoin abc love bitcoin ethereum логотип invest bitcoin nova bitcoin
client ethereum bitcoin wm ann ethereum
enterprise ethereum flypool monero
locate bitcoin ethereum кошелька bitcoin reserve тинькофф bitcoin cryptocurrency wallet bitcoin loan bitcoin new продать monero bitcoin авито bitrix bitcoin стоимость bitcoin сатоши bitcoin ферма bitcoin bitcoin metatrader best bitcoin
bitcoin инструкция monero address bitcoin car monero криптовалюта remix ethereum форки ethereum cryptocurrency ico bitcoin blockchain пример bitcoin криптовалюта tether bitcoin лайткоин майн ethereum doge bitcoin отзыв bitcoin
bitcoin бесплатные bitcoin fast платформу ethereum fire bitcoin otc bitcoin форекс bitcoin bitcoin mt4 okpay bitcoin bitcoin node bitcoin casino bitcoin кошелек win bitcoin bitcoin ocean bitcoin калькулятор ethereum markets bitcoin прогноз е bitcoin ethereum картинки exchange cryptocurrency purse bitcoin 1080 ethereum
bitcoin landing bitcoin автоматически prune bitcoin обмен monero json bitcoin 99 bitcoin bitcoin пирамиды unconfirmed monero bitcoin обмена bitcoin форки