Nos últimos anos, Blockchain permaneceu como um dos melhores chaves de tecnologia. Esta tecnologia revolucionária está constantemente ganhando reconhecimento nos dias de hoje e não irá desaparecer tão cedo. A natureza da tecnologia do blockchain tem dado asas à imaginação para determinar seus usos potenciais, além da configuração monetária. Embora Bitcoin e Ethereum tenham sido as primeiras aplicações dessa tecnologia invencível, seu verdadeiro poder ainda está para ser liberado.
Blockchain is considered a game-changing technology, as many of the top Fortune 500 companies have started to harness its power. It’s no wonder that many blockchain enthusiasts call it the ‘magic bean’ because of the potential it holds.
If we look at the web, it is only years after its inception that we realize the true potential and applications of the web. Just as the web was not clearly understood during its early years, the same goes for blockchain. The clear areas of use for blockchain have not yet been defined to determine its trajectory. The technology undoubtedly has the potential to replace or transform existing businesses, as well as ultimately create new businesses that did not exist before. However, before discussing the real-world applications and use cases of blockchain, let us first understand the technology.
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What is Blockchain?
The word blockchain itself defines the process where new information that is part of a “block” is added to a “chain.” Blockchain is the digital, distributed, and decentralized ledger that underlies most virtual currencies. Don & Alex Tapscott, authors of Blockchain Revolution (2016) define it as, “Blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions, but virtually everything of value.”
You can think of this as a giant Excel spreadsheet that is shared by many different computers. Similar to a spreadsheet, a blockchain is a distributed ledger across a network of computers that records all changes for users to see. In this way, the technology not only protects your business and prevents theft, but also simplifies and speeds up the process while reducing errors.
Blockchain Applications and Use Cases
This decentralized, digital ledger has countless applications and could potentially transform banks and other financial institutions, hospitals, businesses, and governments. Here are the top 5 uses of blockchain that make it a game-changing technology.
- Payment processing and money transfers
Um dos melhores usos dessa tecnologia é a facilidade de transferência de dinheiro. Pagamentos internacionais normalmente levam dias para serem processados e também são caros e sujeitos a erros. Como tal, o blockchain oferece um meio de agilizar a transferência de fundos de uma parte para outra, 24 horas por dia, sete dias por semana. O pagamento é processado rapidamente porque não há terceiros envolvidos na liquidação do pagamento. Muitas empresas de remessas, como Abra e Bitspark, já estão usando essa tecnologia para pagamentos internacionais rápidos.
- Smart Contracts
This technology will soon make our lives easier as both tangible and intangible assets will have smart ledger-based blockchain technology embedded in them. A smart contract is “a computerized transaction protocol that executes the terms of a contract” that is visible to all users. As we know, blockchain eliminates the need for third parties and ensures that all participants in the ledger are aware of the details of the contract. Smart contracts can be used for a variety of situations such as financial derivatives, insurance premiums, property rights, and crowdfunding.
In the real estate industry, this will eliminate the need for title verification in the industry, as property will be stored on a decentralized, encrypted ledger for quick verification of ownership. Similarly, in the music industry, smart contracts will solve the problems of property rights and royalty distribution. Furthermore, smart contracts can revolutionize the traditional lending system.
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- Digital identity
Blockchain offers an opportunity to establish a robust system for digital identity. This technology makes it possible to securely manage your identity in the digital world without sharing too much of your vulnerable personal information. Microsoft is already building digital IDs into its Authenticator app to give users a way to control their digital identities. According to fintech experts, in the future, people will be able to sign up at any registrar with a single digital ID.
- Digital voting
Blockchain can be very useful in preventing fraud in the voting process. With the help of blockchain technology, it is possible to vote digitally. The transparency of the network allows regulators to see if anything has been changed on the network. The ease of voting digitally along with the immutable nature of blockchain makes it the best option for voting.
- Safe and secure data backup
Blockchain will soon be used as the perfect way to back up data. This is because with the increasing incidence of hacks, consumers no longer trust centralized storage providers to store their sensitive data. Cloud storage systems are no longer immune to hacks and even face infrastructure issues. Thus, with blockchain-based distributed data storage, data storage can become truly decentralized for the first time.
Conclusion:
These are the five most immediate and impactful applications of blockchain. However, the uses of blockchain are limitless and many more unique applications are likely to emerge in the near future.