Blockchain's relevance in certain industries. Real world use cases of Blockchain.

Blockchain is becoming more relevant in many industries and here are the real world use cases of Blockchain.

✅Banking System: Banks and Blockchain. How is that possible? You know how banks could be, from high transaction fees to having network issues.

Now, blockchain has revolutionised the banking system by providing a secure, transparent, and efficient transaction process. Banks now use blockchain for cross-border payments which enables faster and cheaper transactions.

Instead of relying on intermediaries like correspondent banks, this technology facilitates direct peer-to-peer transfers. It can be used for smart contracts in lending, automating processes like loan approvals and repayments based on predefined conditions.

✅Healthcare System: Blockchain in the healthcare system? Yes darling😊

In healthcare, blockchain has helped in improving data management and security. Patient records can be stored on a blockchain and are securely accessed by authorised healthcare providers.

Blockchain can also be used for tracking the supply chain of pharmaceuticals ensuring the authenticity from the manufacturer to the patient.

✅Voting System: I got really excited knowing that Blockchain can enhance transparency and security in voting systems and this is done by recording votes on a tamper-proof distributed ledger.

Blockchain helps to eliminate the risk of fraud and manipulation. Each vote is secured using cryptography ensuring anonymity and integrity. An example is Follow My Vote, a blockchain-based voting platform that enables voters to verify their ballots.

✅Educational System: This wonderful technology can be applied in the educational sector where Students' degrees, academic records and certifications can be stored on a blockchain, providing a tamper-proof and easily verifiable proof of their qualifications. You don't even have to stress it. For example, Learning Machine is a blockchain-based platform used by institutions to issue and verify digital diplomas and transcripts securely.

Notice, the use cases of Blockchain all share something in common, there's security and transaparency. 😊

Did you learn something today?

Someone told me I'm carrying this Blockchain thing on my head and my question is, Should I drop it?😅