Tuesday, February 9, 2016

Applications of Blockchain

Applications of Blockchain:

What can you do using Blockchain


  • Manage contracts in a smarter way by not depending upon one server or organization. With smart contracts, you can directly deal with your partners and store contracts and rules in blockchain network Smart contracts
  • Tracking products: You can track a product exactly where it originated from - say a food item can now be tracked where it was farmed from how it was maintained and this information can be stored in public.
  • Ownership details: You can store information like I am willing to buy your house for 1000$ on this date in block chain - it will be stored in this public ledger for everyone to see - you cannot go back and change this to 500$ or the date. 
  • Storing public records such as land & property titles, marriage certificates, death certificates, vehicle registrations, notarized documents etc.,
  • Identity: Identiy a person, thing by verifying data against the person. For example Onename.com is a Blockchain id registrar that links users and validate by using them using different ways – visit onename.com for more information. https://onename.com/deiveehan
  • Store identification records such as driver licences, ID cards, passports and voter registrations.
  • IOT – Internate of things:
    • Device to device transactions, for example the device such as television or washing machine can have its own identity and can make re-order, make transactions on its own. Who owns what device can be stored in Blockchain.
    •  Of course, Money transactions: Blockchain can help you in transferring money to another country as it will be faster and cheaper. With this technology it will be faster and cheaper. Bitcoin is already an implementation of Blockchain which helps users to transfer quickly without a middleman.

Some interesting links:

  • Lazooz – block chain based ride sharing platform.
  • Nasdaq share trade using Blockchain – read more
  • Smart contracts - youtube
  • IBM Adept’s POC demo shows how do they implement this technology to make devices do smart payments – View demo
  • Couple got married on Blockchain – read more
  • How block chain will change the real-estate market – Read more
  • Crowd funding using Blockchain: Blockchain based crowd funding: Blockchain-based crowdfunding is similar to traditional crowdfunding, however, collected funds are accounted for and tracked via a Blockchain – Read more



1 comment:

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