Since “blockchain” in conversations is often associated with the term “cryptocurrency”, some people get the feeling that these concepts are almost interchangeable.
In fact, this is fundamentally wrong. Thinking like this is tantamount to believing that Google and the Internet are one and the same.
Therefore, we suggest that you familiarize yourself with three more examples of the use of blockchain technology:
1. Safe deliveries
In August 2017, IMB decided to try to implement blockchain technology in the control of food supplies in order to increase food safety. The reason was obvious: it can take weeks or even months to track where exactly contaminated food came from, as was the case in the US in 2017.
In such a situation, the blockchain provides full transparency of the entire supply chain. At any time, you can trace the origin of the goods, the batch number, the processing data, or the expiration dates.
This helps network members instantly detect suspicious shipments and immediately remove them from the market.
Proving your authorship of a particular work is quite difficult. There are not so many ways to protect your copyright, and those that do exist can hardly be reliable.
At the same time, the blockchain allows you to secure copyright for any intellectual work once and for all.
It is worth assigning a personal code in the blockchain system to your photo, picture, video or audio recording, and you no longer have to prove to anyone that you are the author.
Your work becomes a unique token, NFT, and you can even sell it on relevant marketplaces.
3. Judicial system
In May 2022, China announced that it would implement blockchain technology into the country’s judicial system. By 2025, all necessary court data, legal documents and reports will be uploaded to the blockchain.
To date, the system already contains more than 2.2 billion court certificates.
Blockchain is supposed to increase the efficiency of litigation. Registration of cases, making requests, and checking information will be many times faster than before.
In addition, blockchain technology will help establish a link between courts, law enforcement, and regulatory authorities.
As you already understood, blockchain technology can be used to perform completely different operations, and these examples are just a small part of how blockchain can be used. The mission of blockchain is to simplify the lives of all participants in the system, store data, and provide quick access to this information.