Categories: Business & Finance

What are other uses of a blockchain apart from cryptocurrencies?


It’s common to find that people often associate blockchain technology with Bitcoin or crytocurrencies, and sometimes mix them up for the two often come in tandem with each other on the news coverage talking about the stunning price slump of Bitcoin. By the way, the Bitcoin price bound back a little and standing at $6,737.42 USD(data from

However, Blockchain technology is far more than the technical support behind cryptocurrency. Actually, its core function to provide a immutable and distributed database enable the technology to be applied into many various fields.

  1. Data Management

In data management, on the one hand instead of processing information in the sole central medium, the technology reduces the risk of being hacked or tampered by deploying various different and independent computers in the network to co-establish and co-maintain the system, which exponentially increase the difficulty to cause systematical breakdown. On the other, it also helps to build up a shared information system between organizations and institutions which empower every member of the community to get access to information posted on the chain. Moreover, for updates or revision will be recorded, therefore, misbehavior committed by members or clients could be found out instantly. For example, company which uses blockchain technology to store their financial archives could find out employee who embezzles company funds the moment the man acting on it.Then, when it comes to political fields, the government could apply the technology in the process of general election to prevent voting manipulation.for the same reason mentioned above.

Related Post
  1. ID identification

Having a ID card with oneself sometimes tends to be risky or it will bring inconvenience to our daily lives if we lose it. However, if we get a personal electronic ID on blockchain which only the holders of the ID card can get access to the information using private key when we live in anywhere, then it will definitely get things done with a lot less fuss. In theory, we can get ourselves identified just by registering in the page and shows the information needed to others, not the whole archive, which ,to some extent, reduces the risks of information giveaway.

  1. IP protection

The advent of Internet allows people to share information, communicate instantly and more convenient. Everyone one can copy, let say, an article on one website, and re-post and share it on another forum, which is good in some way, for it make the process more efficient. However, it may not be so friendly to authors of those fantastic works. It’s easy for people to revise the author the name and write down his/her own name on the website or revise part of the content and post it as the work of their own.

Now, with the help of blockchain technology, the threat of intellectual property being stolen can be removed. The author first put works on the chain and the system will recorded the information that can not be revise on the block, which can be used as a proof of the origin of the work. Then, people would want to view the picture of listen to the music can enjoy the service through depositing money on the author’s cryptocurrency account.

To sum up, Blockchain technology’s possibility to provide unchangeable data allows people to apply it into different fields and nearly every sector that think highly of information security can applied this technology to protect their systems.

  • Tags: Blockchain

    Recent Posts

    Heart Attack Causes and its Solution

    What is the Main Cause of a Heart Attack? What is its Solution? A heart attack is the blockage of… Read More

    7 months ago

    Understanding the Debt Ceiling: Its Impact, Importance, and Implications

    In the vast economic arena, one term that often takes center stage, inciting extensive debates and discussions, is the "debt… Read More

    1 year ago

    De-Dollarization: The New World Order of Currency and Its Global Impact

    De-Dollarization: The Changing Face of Global Finance The financial landscape is in a state of flux, with an intriguing economic… Read More

    1 year ago

    Unstoppable Bayern Munich: The Story Behind Their 11th Consecutive Bundesliga Title

    The curtains closed on a dramatic Bundesliga season with Bayern Munich standing tall once again, clinching their 11th straight title.… Read More

    1 year ago

    Celine Dion Cancels Concert Tour Due to Deteriorating Stiff-Person Syndrome

    The Unfolding Story of Celine Dion's Health In recent news that has left fans across the globe stunned, iconic singer… Read More

    1 year ago

    Navigating the Crossroads: LeBron James, Anthony Davis, and the LA Lakers’ Uncertain Future

    As the echoes of the recent NBA season start to fade, the attention of enthusiasts is firmly glued to one… Read More

    1 year ago