What Makes the Blockchain Special
What Makes the Blockchain Special

Blockchain technology could become the new standard for storing and exchanging data in the online and real world. Bitcoin is only the crowning of the digital revolution.

Special Properties of Blockchain

Immutable

Once entered, no one can alter its records.

Distributed

Anyone can participate adding and verifying its records.

Decentralized

No single party controls its input or output.

Verifiable

Anyone can verify directly its complete history.

But, how can the blockchain be used in the real world?

Especially Special Use Cases

Energy Industry

In the energy industry, the Blockchain-based company Essentia is developing a test project that will help energy suppliers track the distribution of their resources in real-time while maintaining data confidentiality.

Another example of blockchain proving its worth in the energy industry is Chile’s National Energy Commission, they have started using blockchain technology for certifying data of the country’s energy usage as it seeks to update its electrical infrastructure.

Real Estate of Block-tech

In real estate, the Blockchain is now being used to record ownership and complete property deals, the first of which was conducted in Kiev by startup company Propy.

Land registry titles are now being stored on the blockchain in Georgia in a project developed by the National Agency of Public Registry.

Enterprise

Ethereum’s blockchain can be utilized as a cloud-based storage, courtesy of Microsoft Azure.

Google is building a Blockchain which will be integrated into its cloud-based services enabling businesses to store data on it and to request an individual white label version developed by Alphabet Inc.

IBM and Walmart have partnered in China to create a blockchain project the will monitor food safety.

IBM is using the Hyperedger Fabric blockchain in China to monitor carbon offset trading.

Environment

The protection of endangered species is being facilitated via a blockchain project the records the activities of the world’s rarest creatures.

Blockchain technology has been used to provide a transparent record of caught fish, ensures they are legally captured.

Expression

Blockchain technology has the potential to prevent censorship and increase transparency as Civil is proving.

By storing certificates of authenticity on the blockchain, it’s possible to dramatically reduce art forgeries, as several blockchain project is proving.

Arbit is a blockchain-based project led by former Guns N Roses drummer Matt Sorum seeking a fairer way to reward musicians for their creative efforts.
['David Mcneal']
['Distributed Ledgers', 'Blockchain Technology', 'Blockchain Startup', 'Blockchain', 'Future Technology']