Going Beyond Crypto Currencies: Blockchain Applications Transforming Business Solutions

By Author: Darshan Kulkarni
Total Articles: 3
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Amidst the growing buzz for bitcoins,the transformation of the finance sector into more of a digitalized monetary sector takes place with blockchain as the underlying technology gets eclipsed.
For most people, blockchain comes as a synonym for cryptocurrencies like bitcoins. However, in reality blockchain technology offers a wide range of applications beyond bitcoins.
Blockchain an emerging technology to transform business sectors
In the light of modern standards, people are always opting for resources which are transparent, cost-efficient and has faster accessibility. Thus, not just the business and financial sector but there are several other major sectors where blockchain services and solutions can effectively deliver solutions. Some are chalked down below:

• Healthcare
A prompt and secured data sharing ...
... amongst different healthcare professionals lead to a more faster and accurate diagnosis and as a result better treatment opportunities. Apart from patient records rightful implementation of blockchain can lead to a proper tracking and monitoring over medicines thus ensuring counterfeit markets and efficient usages.
Few of the global leaders have already set the stage for blockchain in healthcare industry. As for example PokitDot offers a secured network for patients data, Chronicles enable tracking of organs, blood and other therapeutic cares, while Gem and Tierion partnered by Philips blockchain lab has already crafted a complete blockchain nest.
• Energy
A sector which has long been centralized uses up huge resources for keeping those centralized data mined. Therefore, utilizing blockchain to decentralize the energy sector could be the best way of combating the redundant power usage.
Some global giants putting benchmarks for incorporating blockchain into their peer-to-peer network, allowing sharing of excess energy have been put forward from incorporations like PowerLedger, Transactive grid etc
Grid+ utilizes power of Ethereum network to provide customers access to wholesale energy prices improving customer services and saving power.
• Real Estate
The lucrative and ever-expanding real estate market is always a great place for incorporating blockchain. Prompt contacts, and resources for estates, easier tokenization, connecting with potential clients thousands of miles apart without any mediator settling the deal. All this and much more is possible if blockchain is correctly incorporated in the real estate market.
Some leaders laying the stone for blockchain in real estate includes BitProperty, Atlant, and IBREA.
• Voting
A sensitive process which requires utmost transparency, security and confidentiality are voting. In such a process a decentralized network such as blockchain can cover all the aspects providing transparent tamper proof auditable results.
Some of the platforms already in use are Sovereign developed by Democratic Earth and Horizon State.
• Government confidential record management
Government records are the maternity wards for corruption. With the robustness of data fakeness, fraudulently, tampering, corruptions with confidential government data is inevitable and is one of the biggest issues of our society.
With proper implementation blockchain can create an immutable, permanent data store impossible to tampering, corrupting or any other forms of theft.
Some developed blockchain networks for safeguarding governmental documents include Velox. Re and Factom.
To wrap it up
Although in its nascent stage, blockchain is slowly emerging beyond its use in cryptocurrencies and one can expect a corruption free, immutable, secured future when and wherever it is properly implemented.