It took businesses a decade to take ownership of it, but now the first applications of the technology are starting to appear. What exactly is meant by this term? And what will be the future developments that will increasingly affect our daily lives?
Blockchain is a technology that has now entered everyone's daily lives. For some it is a new generation of the Internet, for others it represents an innovative concept of Trust. The secret of blockchain is its modus operandi, it allows groups of people to carry out transactions (with money, financial instruments or personal information) in a safe and direct way. There are some elements that characterize blockchain in a timely manner, helping to better understand the meaning and importance of this technology. This technology can be represented as a chain of blocks that each contain multiple transactions, are unchangeable, and as a result, the blockchain is also immutable, meaning the information contained within it is not modifiable and corruptible.
The importance of blockchain definitely lies in its ability to simplify so many actions that we usually perform the old-fashioned way, such as buying and selling products, paying bills and transferring money. The blockchain can really revolutionize the way we distribute information on the net. How? By using multiple layers of security, such as with control via private key, so that only the real owner of a certain amount of bitcoin can create a transaction tied to that bitcoin, while prior inputs make sure the sender really has the number of bitcoins they need for the transaction. That being said, what is its development in everyday life?
Remember the last time you had to wait in line to vote? What if you could do it from home? The main problem with digital voting is its security. Votes can be tampered with, blockchain can make your vote anonymous and provide better security. Digital voting can bring more participants can also help increase voter turnout.
Blockchain in the tourism industry could quickly become a reality with many benefits. Being that it can provide more security and transparency in various situations, it will be able to ensure much safer operations, this is because online booking is broken down into micro operations, each managed by a different blockchain.
On the other hand, financial services, so especially banks, are definitely among the sectors in which more is invested in relation to the blockchain because, as there are no intermediaries handling the transactions, the costs of banks' commissions are lowered and savings, speed and reliability are ensured. With good reason, both banks and financial institutions are looking to grab the new market, given the countless opportunities it offers.
In healthcare, it is possible to manage patient data through a system that allows clinical information to be shared quickly and securely, which means having the ability to control and administer better care faster. The blockchain secures patient data through new authentication methods, providing secure, decentralized and immutable document management. The patient is put at the center of everything as all medical actions affecting
them are perfectly coordinated with each other in an intelligent way, optimizing information management and improving the national health information system. The interaction between inter-regional healthcare systems and between private entities (testing labs, private healthcare or insurance companies) makes healthcare a near-perfect system.
In fact, the blockchain digital revolution is only in its infancy and has so many applications and as much potential yet to be explored. It is becoming a true paradigm for information management, open to all and as secure and transparent as possible. And it is precisely for these reasons that our daily lives will be increasingly affected and influenced by this revolutionary technology.