Entrepreneurs: Here Are The Potential Use Cases Of Blockchain Explained Just For You
All these years, we have been witnessing various breakthrough’s of Blockchain through its disruptive use cases. Moreover, blockchain getting its hands on all the industries, Banking, healthcare, Hospitality, Media, E-commerce, Manufacturing, Agriculture and the list goes on.
Coming to IT, Blockchain Stabilized & completely transformed IT into the whole new level. While discussing all these phenomenal changes of Blockchain, there comes a question. What are the equal add-ons for Entrepreneurs to invest in Blockchain? Though Entrepreneurs were leveraging various identical approaches of Blockchain but still that cannot be an end. They need something distinctive & powerful to invest more. So After sorting out various Entrepreneurs persona’s, this blog is aimed to identify the potential use cases of Blockchain and the other side possibilities of Blockchain.
Revamping Peer To Peer Payment System
As we all aware about the Mess up that’s happening around the Peer to Peer payment systems. Apparently, it’s less secure than the centralized system. Agreeing on the other side, Peer to Peer networks helping us to share the information by providing a very intensive way to share the data comprising all the devices. But, Without the trusted centralized server, Most of the times it led us to face the ridiculous data vulnerability.
During transmitting or even after storing the data, we keep tend to face more security threats, data breaches & vulnerabilities. To solve these, Many developers started jumping into Decentralized Peer to Peer network to secure their data.
Startup’s, Corporates, entrepreneurs were started leveraging this approach. With the help of the decentralized system, These time P2P Comes much stronger than ever which is about to provides high level secured payment system & simple yet reliable.
With greater confidence to invest, entrepreneurs, developers & start up’s have started approaching this Decentralized Peer to Peer system.
Incorporate Smart Contracts In Application
This most hottest feature of blockchain has all the potential to revitalize the smart contracts. As we already dabbling through Smart contracts, Blockchain also has some additional features to reshape Smart contracts from which all the industries could leverage.
Now the question is How These Smart Contracts can be used in other use cases?
The answers would be clear and precise if you aware of What smart contracts can exactly do for us. Smart contracts are self-executable blocks of code which stored on blockchain where no third parties will have a control to access. So, these blocks of code can be incorporated into any software applications which would be the best way to provide security for your applications.
Imagesource – Coderthoughts
So, This would remain the best choice for any entrepreneurs to bring a smart solution for their business. And, that would lead to build strong a relationship between clients by giving them the most secured applications for their business. Plus, it’s totally Developer’s turn to play around Smart contracts to make it work in a most efficient way.
Bring Blockchain Intelligence In Transportation System
Abruptly, Blockchain is about to change the traditional Transportation system too! The existing system and infrastructure can be completely maximized and transformed into an automated system. People & Automated cars will get connect through blockchain. It will enable people to share their route & journey details to other travelers who were riding in the same direction or in that particular area. So all vehicles & its traveler’s route will be put together to clear the traffic without requiring any middleman support. At the same time, It also getting emerged in a way to provide safety consideration for users, such as their Privacy, Shared details, & communications are also ensured to secure from Middle Man attacks. So It would become a potential use case of Blockchain which can truly impact in our lives.
Imagesource – Techcrunch
Stabilized Voting System
Hitting Electronic Voting system is another breakthrough of Blockchain. Sometimes, Lack of open source would be a plot for Centralized system to verify or monitor the results. Whereas the series of block code from the decentralized system will be the very affirmative way to check and monitor the overall process without breakage. And, it would be even harder for any intruders to have access it. So, blockhain can predominantly change the future voting system too.
Know The Top 10 Cryptocurrencies In Blockchain
These are the top 10 Cryptocurrencies used in global market.
Bitcoin – The first Cryptocurrency which is the orgin of all.
Ether – Executes peer-to-peer ‘smart contacts’.
Litecoin – Alternative of Bitcoin which has similar features of Bitcoin.
Monero – Focused on privacy, untraceable.
Ripple – Strongly focused on banking, Real-time settlement
Dogecoin – ‘Joke currency’, used for tipping and donations
Dash – Provides privacy (Using anonymous technology) and speed.
MaidSafeCoin – SAFE (Secure Access For Everyone) network, which is a security-centric data platform.
Lisk – The first modular Cryptocurrency that introduced side-chains in blockchain.
Z Cash – The Permissionless cryptocurrency which extends it’s full support to protect the privacy of transactions using the method called “Zero-knowledge cryptography”.
Besides exploring, our pool of blockchain experts never refuse to share their knowledge with us. You could get more blogs about Blockchain and latest technologies in coming days. Get tuned with us. You could also share your valuable ideas & thoughts with us in the comment section.
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