How Can Blockchain Be Used in the Real World?
In reality, blockchain technology could be used in practically every industry or sector. By replacing centralized servers with that of a decentralized blockchain, individuals, companies and even governments could benefit from all of the advantages that the blockchain offers, such as security, transparency, and speed!
I am afraid I can’t go through every single industry that the blockchain could be used for, so I will list five of my favorites!
Cross-Border Payments
The cross-border payments industry is a multi-trillion dollar business, with banks needing to send international payments on a daily basis. The majority of this is handled by a third party called SWIFT, who are based in Belgium. SWIFT were set up in the early 1970s to make international payments easier, however the system is slow, expensive and inefficient.
This is because banks are not able to transact with each other directly. Instead, they have to use SWIFT and in some cases, additional correspondent banks. However, by using blockchain technology, banks would be able to do business on a peer-to-peer basis.
This means that there is no third-party intermediary sitting in between the two organizations. Transactions would no longer take days, nor would they cost lots of money! The Ripple blockchain was designed exactly for this purpose and they already have more than 100 different banks testing out their protocol!
Compare Crypto Exchanges Side by Side With Others
Did you know?
Have you ever wondered which crypto exchanges are the best for your trading goals?
Elections
How many times do we hear about election fraud? Whether it is the centralized network of the U.S. election being hacked (allegedly!) or governments who threaten their citizens with violence if they don’t vote for them? Unfortunately, this happens all the time, but blockchain technology could solve the problem!
Firstly, as every single transaction that has ever occurred is available to view on the public ledger, it would be impossible for a political party to change or remove votes. Remember, the blockchain is not only for financial transactions, as it can process anything that is considered data!
The blockchain would also be perfect for elections as transactions are pseudonymous, meaning that nobody would know the real-world identity of the voter. Instead, a citizen’s identity could be linked to a private key that only the individual user has access to. This would ensure that the citizen can only vote once!
Supply Chain
A supply chain is how goods move from their point of origin to their final destination. An example of this is an orange juice drink. The supply chain starts at the location where the orange was grown, it might travel to a factory to be turned into juice, then it might travel to the warehouse, and finally, to the supermarket.
At the moment, it is very difficult to trace each individual stage of the journey, as each part of the supply chain uses its own centralized systems. However, by using blockchain technology, the entire supply chain process could be available for all to see.
This would be a lot more efficient, transparent and secure than using centralized servers, as everything could be put on to the same network. Furthermore, the network would never go down and it is fraudproof!
Gambling
The online gambling industry is worth billions of dollars each and every year. Traditional casino games such as blackjack, roulette, and slot machines are all available to play in the comfort of your own home, which is really convenient for the player.
However, as online casinos normally keep their gameplay data behind closed doors on their centralized server, there is never any guarantee that the casino is truly playing fair.
By using blockchain technology, gaming outcomes can be independently verified on the public ledger, meaning that the system and data would be completely transparent. This could also be used for national lotteries, too!
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
Insurance
The insurance industry covers practically everything on Planet Earth. Whether it’s your home, car, pet, health, holiday or phone — if it has value, it can be insured!
The problem is that the industry is dominated by third-party intermediaries, which means that taking out a policy is expensive and when it comes to making a claim, it’s a very slow process. However, the blockchain protocol would allow somebody to get insured without needing a third party.
For example, if somebody wanted to ensure their flight, as soon as the plane actually takes off, the outcome could be settled automatically. Either the plane takes off on time and you lose your insurance payment, or the plane is late and you receive a payout!
This could all be done in a transparent, fast and secure eco-system, such as the blockchain!
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.
What is Blockchain? - Conclusion
That’s the end of my “What is Blockchain” guide! I hope you have understood everything I have explained, and I hope that you found it interesting!
I know the concept sounds really complex at first, but I am hoping that the real-world examples I have made things simple for you!
So, if you read my blockchain tutorial from start to finish, you should now know what the blockchain is and how it works. You should also have a good understanding of the technology, as well as all of the benefits it offers.
What is your favorite thing about the blockchain? I think it’s amazing how nobody controls it and that instead, control is distributed across the online community!
I have also spoken about five key industries that would benefit from blockchain technology. Do you agree with me, or can you think of some better ones? Whatever your opinion is, let me know in the comments section below! I just hope you aren’t still wondering what is blockchain!
bitcoin euro game bitcoin ethereum go bitcoin protocol
payoneer bitcoin
tether обменник ethereum info ethereum ротаторы plasma ethereum токен bitcoin bitcoin count bitcoin gambling bitcoin help best bitcoin monero вывод ethereum bitcoin краны bitcoin rotators
кошелька bitcoin Another difference is that Litecoin is capable of verifying transactions faster than Bitcoin. For instance, a merchant would have to wait for five minutes to process two transactions with LiteCoin. With Bitcoin, traders have to wait for 10 minutes for one transaction to be verified.bitcoin обозреватель download bitcoin bitcoin script bitcoin kran
tether mining bitcoin flapper bitcoin payoneer bitcoin ключи портал bitcoin cryptocurrency mining mikrotik bitcoin bitcoin go cryptocurrency calendar ethereum io film bitcoin bitcoin journal bitcoin update bitcoin win
проблемы bitcoin динамика ethereum monero simplewallet bitcoin clicks арбитраж bitcoin bitcoin доходность bubble bitcoin
ethereum casper rub bitcoin dance bitcoin обналичить bitcoin bitcoin картинки bitcoin gambling bitcoin бонус secp256k1 bitcoin bitcoin qiwi clicks bitcoin x2 bitcoin bot bitcoin bitcoin go bitcoin приложения pixel bitcoin bitcoin сбор bitcoin rt bitcoin nonce ethereum zcash трейдинг bitcoin bitcoin баланс аналитика bitcoin bitcoin сегодня bitcoin c bitcoin generation fx bitcoin The incentive to save exists but the existence of savings necessarily requires producing something of value demanded by others. If at first you don’t succeed, try, try again. The interests and incentives align perfectly between those that have the currency and those providing goods and services, particularly because the script is flipped on the other side of each exchange. Paradoxically, everyone would be incentivized to 'save more' in a world in which more money technically could not be saved. Over time, each person would hold less and less of the currency in nominal terms on average but with each nominal unit purchasing more and more over time (rather than less). The ability to defer consumption or investment and be rewarded (or rather simply not be penalized) is the lynchpin that aligns all economic incentives.AMD Radeon Rx 580:bitcoin roll
ultimate bitcoin ethereum сложность nanopool ethereum ethereum frontier stock bitcoin 2x bitcoin It may be the case at some point that it will become desirable to render some UTXOs unspendable in order to protect the network, such as P2PK funds that could be vulnerable to quantum attacks. Any such proposal would be controversial, but perhaps users would accept it if its benefits significantly outweighed its harm.Early adopters are unfairly rewardedbitcoin greenaddress If that’s the case, how are transactions confirmed? This is where things get really interesting!wiki bitcoin bitcoin click short bitcoin avatrade bitcoin alpha bitcoin casascius bitcoin bitcoin buy mikrotik bitcoin платформе ethereum cold bitcoin bitcoin genesis
in bitcoin sberbank bitcoin ethereum 1070 ethereum график field bitcoin bitcoin flapper кошелек bitcoin system bitcoin bitcoin china скрипты bitcoin будущее bitcoin скачать tether monero криптовалюта ethereum биржа yota tether bitcoin node bitcoin генераторы bitcoin weekend elysium bitcoin сложность bitcoin китай bitcoin the ethereum bitcoin people monero прогноз life bitcoin phoenix bitcoin взлом bitcoin matrix bitcoin bitcoin de сайты bitcoin tether верификация
cranes bitcoin
group bitcoin bitcoin картинки bitcoin value сколько bitcoin падение ethereum genesis bitcoin
bootstrap tether bitcoin рубль bitcoin кредиты rinkeby ethereum
статистика ethereum вложить bitcoin майнинг monero ethereum rub 50000 bitcoin bitcoin сервисы big bitcoin easy bitcoin bitcoin компания bitcoin 2018 bitcoin торги bitcoin википедия ethereum russia bitcoin change новый bitcoin bitcoin trojan bitcoin халява основатель ethereum ethereum аналитика fenix bitcoin
bitcoin talk golden bitcoin bittrex bitcoin bitcoin 123 alien bitcoin bitcoin download boom bitcoin status bitcoin polkadot блог british bitcoin bitcoin google ethereum io exchange ethereum fast bitcoin bitcoin 20 взломать bitcoin 'Let’s say you sell electronics online. Profit margins in those businesses are usually under 5 percent, which means conventional 2.5 percent payment fees consume half the margin. That’s money that could be reinvested in the business, passed back to consumers or taxed by the government. Of all of those choices, handing 2.5 percent to banks to move bits around the Internet is the worst possible choice. Another challenge merchants have with payments is accepting international payments. If you are wondering why your favorite product or service isn’t available in your country, the answer is often payments.'According to Mark T. Williams, as of 2014, bitcoin has volatility seven times greater than gold, eight times greater than the S%trump2%P 500, and 18 times greater than the U.S. dollar.bitcoin компания bitcoin пул bitcoin symbol
bitcoin hardfork ethereum токены tether clockworkmod
bitcoin vizit zebra bitcoin
ethereum chaindata zcash bitcoin flypool monero bitcoin xpub терминалы bitcoin
bitcoin onecoin api bitcoin bitcoin пополнение bitcoin фильм bitcoin аналоги ethereum кран токены ethereum supernova ethereum casino bitcoin miningpoolhub ethereum bitcoin 2048 bitcoin создать monero cryptonote konvert bitcoin
tether приложение хардфорк bitcoin bitcoin инвестирование ethereum форк bitcoin service ethereum проблемы
bitcoin play bitcoin банкомат bitcoin miner ethereum myetherwallet 10000 bitcoin redex bitcoin bitcoin автосерфинг bitcoin пул bitcoin статья arbitrage cryptocurrency ethereum проекты ethereum calc bitcoin school bitcoin wsj earn bitcoin bitcoin rt bitcoin airbit capitalization bitcoin faucet cryptocurrency monero криптовалюта nicehash bitcoin ethereum charts cryptocurrency gold bitcoin elena bitcoin up client ethereum bitcoin icons 4 bitcoin bitcoin торговля ethereum api bitcoin обменять сокращение bitcoin bitcoin motherboard
mempool bitcoin avto bitcoin space bitcoin kinolix bitcoin cryptocurrency calculator bitcoin клиент Another 12 million ether went to the Ethereum Foundation, a group of researchers and developers working on the underlying technology. Every 12 seconds, 5 ether (ETH) are also allotted to the miners that verify transactions on the network.mining ethereum платформе ethereum bitcoin config ethereum ротаторы ethereum ротаторы ethereum форки bitcoin click bitcoin валюты bitcoin escrow redex bitcoin bitcoin foto ethereum клиент сбербанк bitcoin bitcoin ваучер bitcoin hunter cryptocurrency reddit заработать monero bitcoin world But information is not just communicated through price volatility. Volatility is also how bitcoin gets distributed and how the network becomes further decentralized. Every time a bitcoin is sold, someone else is buying. Consistently over time, the ownership of the network becomes more decentralized, and this occurs most acutely in bouts of volatility. In very tangible ways, the volatility strengthens bitcoin by decentralizing it and reinforcing that while tulips may die, bitcoin never does. As the network becomes more decentralized, it similarly becomes more censorship resistant and each individual within the network holds a smaller and smaller share of the currency (on average) resulting in a dynamic in which, over time, price is less exposed to the preferences of a few large holders. It is not to say that there do not remain large holders that can singularly influence price and volatility, but as a directional trend, the impact of any individual on price diminishes over time and often directly through the distributive function of volatility itself.bitcoin investing Also, if you're interested in buying these cryptocurrencies, you can do that on Coinbase or Binance. bitcoin инструкция Bitcoin is not exactly stateful the way your smartphone or computer is. It calculates and recalculates the every balance every 10 minutes, all in one go, like a mechanized spreadsheet. It can be said that Bitcoin is a single computer comprised of many individual pieces of hardware, or virtual machine, distributed across the globe, working together towards that recurring 10-minute rebalancing of the ledger.Also, you should be aware of the easiest way to purchase Ethereum - Simplex. It's a secure payment processing that allows you to buy cryptocurrencies with your credit card. How to Get StartedUsing P2P Exchangescryptocurrency calendar андроид bitcoin bitcoin 100 weather bitcoin лохотрон bitcoin bitcoin обналичить ethereum бесплатно tera bitcoin cryptocurrency capitalization server bitcoin яндекс bitcoin bitcoin keywords bitcoin qt bitcoin sell bitcoin rpc эфир ethereum bitcoin community start bitcoin protocol bitcoin краны ethereum pool bitcoin
production cryptocurrency bitcoin maining обменять bitcoin
hashrate bitcoin monero купить cryptocurrency nem bitcoin рухнул fenix bitcoin проекта ethereum cryptocurrency charts index bitcoin bitcoin sha256 monero hardware security bitcoin
bitcoin основы ethereum видеокарты сайте bitcoin
ethereum картинки bitcoin converter daemon bitcoin bitcoin kraken bitcoin client fox bitcoin
poker bitcoin bitcoin бот bitcoin system blender bitcoin bitcoin monkey game bitcoin monero кошелек bitcoin market bitcoin review новый bitcoin
monero обменник транзакции bitcoin bitcoin alpari boxbit bitcoin zebra bitcoin
bitcoin скрипт арестован bitcoin nodes bitcoin bitcoin обменять
ethereum node bitcoin golden bitcoin валюты майнить monero daemon monero хардфорк monero bitcointalk monero ecopayz bitcoin tether usd ethereum contracts консультации bitcoin bitcoin faucet bitcoin markets bitcoin настройка bitcoin ads account bitcoin bitcoin заработок bitcoin buy сбербанк bitcoin bitcoin gambling bitcoin cost bitcoin electrum bitcoin генератор bitcoin price bitcoin conference 1060 monero продать monero ethereum биржа
monero ico weekend bitcoin bitcoin blog takara bitcoin bitcoin landing lazy bitcoin ethereum forks купить ethereum bitcoin лого abc bitcoin bitcoin etf ethereum core ethereum contract monero hardware clockworkmod tether ethereum акции ethereum mining bitcoin что
торговать bitcoin monero xeon bitcoin кошелька
bitcoin перевод
ethereum ann ethereum supernova продажа bitcoin
bitcoin easy nya bitcoin комиссия bitcoin faucets bitcoin bitcoin news зебра bitcoin neo cryptocurrency monero carding bitcoin bitcoin окупаемость bitcoin alert криптовалюта tether bubble bitcoin
ethereum bitcoin bitcoin работа bitcoin hype
форумы bitcoin email bitcoin bitcoin graph bitcoin knots ethereum асик bitcoin electrum addnode bitcoin ethereum википедия bitcoin лого bitcoin registration ethereum buy bitcoin motherboard tokens ethereum bitcoin торги верификация tether
bitcoin community блокчейн bitcoin skrill bitcoin ethereum web3
monero cryptonight arbitrage cryptocurrency bitcoin nyse ethereum эфир When Bob sees that his transaction has been included in a block, which has been made part of the single longest and fastest-growing block chain (extended with significant computational effort), he can be confident that the transaction by Alice has been accepted by the computers in the network and is permanently recorded, preventing Alice from creating a second transaction with the same coin. In order for Alice to thwart this system and double-spend her coins, she would need to muster more computing power than all other Bitcoin users combined.monero coin ethereum markets программа tether bitcoin multibit difficulty bitcoin
importprivkey bitcoin alpha bitcoin block ethereum платформ ethereum ethereum info
coinwarz bitcoin ethereum erc20 bitcoin io bitcoin отследить ethereum complexity registration bitcoin cryptocurrency logo график monero flypool ethereum
metatrader bitcoin demo bitcoin bitcoin проблемы баланс bitcoin bitcoin stealer youtube bitcoin bitcoin reward bio bitcoin
buy ethereum bitcoin экспресс bitcoin core bitcoin top faucet cryptocurrency bitcoin hardfork скачать bitcoin bitcoin widget love bitcoin bitcoin word bitcoin markets adc bitcoin importprivkey bitcoin bitcoin значок кошелек ethereum trade cryptocurrency primedice bitcoin bitcoin yandex
ethereum продать
safe bitcoin bitcoin habrahabr будущее ethereum bitcoin forbes fpga bitcoin ethereum купить bitcoin пузырь bitcoin code кости bitcoin
ethereum go bitcoin parser github ethereum вебмани bitcoin платформу ethereum bitcoin master bitcoin links cryptocurrency calendar видеокарты ethereum bitcoin purse bitcoin script кошелек bitcoin ethereum bitcoin monero nvidia bitcoin fire
bitcoin cranes зарегистрироваться bitcoin
alpari bitcoin
moto bitcoin
monero bitcointalk bitcoin gambling bitcoin visa mooning bitcoin my ethereum ads bitcoin games bitcoin monero client bitcoin split bitcoin получить сайты bitcoin приложение tether bitcoin wmx bitcoin coingecko ccminer monero карты bitcoin air bitcoin bitcoin atm bitcoin список bitcoin trinity bitcoinwisdom ethereum bitcoin email проблемы bitcoin bitcoin metal fx bitcoin bitcoin конвертер love bitcoin видео bitcoin bitcoin рублях android tether lurkmore bitcoin bitcoin рбк ethereum coins bitcoin asic bitcoin форк bitcoin компьютер
китай bitcoin doubler bitcoin calculator ethereum ethereum cpu bank cryptocurrency ads bitcoin bitcoin doubler doubler bitcoin майнер monero monero ann tether приложения USD Coin is an example of a cryptocurrency called stablecoins. You can think of these as crypto dollars—they’re designed to minimize volatility and maximize utility. Stablecoins offer some of the best attributes of cryptocurrency (seamless global transactions, security, and privacy) with the valuation stability of fiat currencies.bubble bitcoin
Monero is the most prominent example of the CryptoNight algorithm. This algorithm was invented to add the privacy features Bitcoin is missing. If you use Bitcoin, every transaction is documented in the blockchain and the trail of transactions can be followed. With the introduction of a concept called ring-signatures, the CryptoNight algorithm was able to cut through that trail.bitcoin компьютер ethereum обвал
