With the unprecedented prominence that blockchain has received in recent years, it is of no surprise that this aerodynamic technology is being incorporated by millions of companies worldwide, visit site. Bitcoin Era highlights some of the odd-defying implications of blockchain technology which will make your day just a little better.
Here’s the list:
#1 Robust Voting System
Elections are highly infamous for being rigged whenever the winning party wins with a considerable margin. There is always a sense of uncertainty, doubts, and discomfort attached to the entire election system. Moreover, with the advancement of technology, we are not supposed to be still following the traditional means of going to the election voting booth physically. So, why not incorporate the aerodynamic technology provided by blockchain to cast a vote from the comfort of our homes?
It will also eliminate the pervasive hassle of standing in a queue for a longer duration. Blockchain can restructure the election system through its highly scalable & secured solutions. This marks the beginning of “Vote-Chain,” which is being hailed as the voting process entirely based on blockchain technology. It will add a significant level of security, and the identities cannot be duplicated either.
#2 Patient Data in Healthcare Sector
The Healthcare system is highly sensitive, and there is no room for errors or mistakes. It leads to significant chaos if patient data is misplaced or misconstrued. A significant volume of patient data is recorded & stored on a daily basis. But is it really safe? The answer is a “Big No.” Substantial research is warranted in this particular segment to augment the current apparatus of storing the colossal data of thousands of patients in a year.
Blockchain can assist in this space and can also diagnose diseases proactively. The data of an individual patient is recorded on the smart contract, which is facilitated by the successful implementation of blockchain. This data cannot be infiltrated or breached by anyone else, which ensures a 24*7 security of the records.
#3 System of Land Registries
The proliferation of cases where a completely different individual claims the rights over someone else’s property is appalling. The increased incidences of land frauds, document duplication, and similar malpractices are running rampant in this domain. This calls for a robust & secured technology that cannot only eliminate such stigmas but also replace them with impenetrable security.
Blockchain will significantly help in keeping the data safe & secured fa beyond the reach of miscreants. Furthermore, the data retrieval process will also be simplified through it. The introduction of electronic certificates will help in redefining the trends since they will be reliable & easily accessible.
#4 KYC Verifications backed by blockchain
None of us have been able to evade the long queues at banks & other financial institutions where KYC is required. Updating & verifying personal information is essential, but it doesn’t have to be hectic & tedious. Hence, KYC verification can be done without any hassle, and the relevant information can be updated through blockchain in a considerably lesser time. It will be highly immutable, and a much-coveted detailed audit can be done on the entire database of KYC files. Customers will be able to securely update their KYC data on the available blockchain system. Banks will then be able to access the updated information on blockchain, and it will eliminate the need for any intermediary, unlike the traditional systems.
#5 Say goodbye to the fake products
We live in a hyper-competitive world where a company will go to significant distance to outrun its competitors. But such fierce competition has also paved the way for counterfeit companies that deliver fake products to the customers. You name a product, and its fake version will already be delivered to some unsuspecting customers. Hence, a barcode scanning mechanism based on blockchain technology can be introduced to eliminate such unpleasant experiences.
A blockchain-based barcode system will check the originality of the product thoroughly. All you have to do is just scan the product you received by using the barcode scanner. The system will pick up the fake details of the products immediately, and it will save you loads of trouble.
