Blockchain Basics: The Complete Guide for Beginners to Understand Blockchain Technology, Start Investing, and Mastering Blockchain Business. by Richard Trend

Author:Richard Trend [Trend, Richard]
Language: eng
Format: azw3, epub
Published: 2021-07-05T16:00:00+00:00

Credential data on evaluations, names, and transactions could be stored on Blockchain by educational institutions. Of person's academic background can be kept track of throughout their lives. Now that education is entirely changing its shape, with micro-studies and other types of portable teaching, Blockchain allows for the safe storage of educational records, no matter how limited or comprehensive they are.

Blockchain Beyond Finance

Blockchain technology is already being used in other areas of the industry, such as the insurance sector. Its potential for this sector lies in the impossibility of falsifying documents and modifying records offered by data storage on a blockchain.

With this advantage, insurers and their clients can rest assured that the contracts and agreements established between both parties will not be altered and that the authenticity of said digital documents can be proven at any time easily and quickly by just using the private keys. Relevant cryptographic data.

Precisely in terms of digital documents that concern contracts and agreements, there is already a wide range of applications in this field that start from property rights to land and assets to the authorship of digital content traded on the Internet like videos, photography, article, and more.

One of the applications that I invite you to review is the certification of authorship of a blog on the Bitcoin blockchain network. The startup Stampery provides a fast, straightforward process.

Another of the applications that are having the most impact in these early years of blockchain technology is the registration and auditing of supply chains for different industrial processes. This is, basically, the digital record in the Blockchain of data corresponding to different stages of the production of a marketable good, from when the raw materials are collected until it is placed on the market. This would allow both companies and consumers to certify the origin of a product, the methods and tools used in its preparation, and even the data concerning the place where the said product was finally consumed.

One of the most striking examples is from the British startup Provenance that uses blockchain technology to record data from the entire fishing process of various varieties of tuna in Indonesia.

With this application, the company offers users the opportunity to check that the origin of these products is not from waters not authorized for fishing or that it involves the use of labor related to exploitative labor practices.

Other applications that have been put into practice focus on the fight against piracy in the music industry, the certification of drugs, the safeguarding of property titles for diamonds and luxury watches, the registration of data from nuclear power plants, and applications for electoral processes. And other governance activities.

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