Many people often confuse blockchain and crypto as the same thing. Sure, crypto runs with the help of a blockchain. But, let just make one thing clear once and for all.
Cryptocurrency and blockchain are not the same thing!
Not Just a Coin Anymore
Cryptocurrency are not just digital currency or online money anymore, they have expanded and become much more than that. The blockchain technology is providing security and are helping in identity verification. With the help of this companies are able to openly exchange their data which avoids any risks of frauds.
In countries like Estonia, blockchain technology is being used in the government and local sectors. Helping them re-write the fundamental tools of government to help in the fair elections and are also using the technology in issues that can be tricky such as financial processes of citizenship and taxation. It is turning out to be a game-changer in the department of health by helping secure medical record.
Global Financial Institution
The Mastercard, a financial institution is working with the blockchain technology in order to help them sideline and shut down all the fake identity accounts.
Danish shipping firm Maersk is one of the few firms that comes to your mind when you think about shipping things around the world. In the real world, they are able to track every movement of the ship which involves many more other companies and multiple databases can be difficult to handle.
With the help of blockchain technology, they have made things much more easier for them. The distributed ledger means that all companies involved are able to manage the information without the burden being on one person. The open nature of blockchain means that any private official or government customs official can access the information and that information will always be available for future record use as well.
We often see big media house spending to come up with creative attention grabbing advertisements all year long. But many companies just straight-up fail. These companies have absolutely no idea whats going on and why they failed in the first place with no ideas to target the audience.
Many times the information gained is not accurate and true from online bots because not everyone is always honest. In order to gain the trust of your audience and provide them with what they really want. It is vital to exchange some valuable information with them and build your content on that. Many times people are rewarded with Media tokens.
To conclude, cryptocurrency is a part of blockchain and these fields are still being explored. There is much more to come in the near future that can be done with the help of blockchain technology.
It has till now succeeded to expand in sectors like transportation, health, real estate, etc. The industries are slowly exploring more and more ways to use blockchain, with this speed the blockchain technology is taking over.
So, what do you think? How long will it take until the blockchain completely dominates the world?