Blockchain is the pillar of all cryptocurrencies. It is largely due to the presence of the blockchain technology that people are considering going for the digital money market safely. In recent times, we have seen that blockchain technology is focusing more and more on ensuring better security for the investors of the digital money platforms.
It is with the help of the blockchain technology that all the data is kept safe, they are timely recorded, and people have a fair share of transparency within this domain. However, the question is whether or not that is all that blockchain does. Well, clearly, blockchain has several other uses which are beyond the financial domain.
In this blog, we will collectively take a look at the different ways in which blockchain technology can be used. Without Much Ado; Let us now begin right away!
5 Non-Financial Uses of Blockchain Technology:
1) Land Registration: Did you know that you can easily use blockchain in order to be able to register lands? Well, since there are often a lot of disputes that cloud this area, it is best to go for data prevention with the help of a technological aspect which provides high security. With the help of blockchain technology you can easily achieve the same, without having to go through much trouble.
2) Food Safety: Since the central task of the blockchain technology is to gather data, and put together blocks, it looks after the security of the people. It has come to people notice that with the help of blockchain technology, people across the world have gone on to trace the origin of where old is coming from, and the safety measures that are being associated with the same. This has radically brought about a change in peoples’ way of seeing this industry, and taken away a lot of worry along with it.
3) Public Communication, and Voting: One then has to remember that with a lot of other things though public communication, and voting has also subsequently seen an online shift. With this shift, the need to reinforce the blockchain technology has become even more important, as it greatly focuses on storing data, authentication, and preventing fraudulent activities. With the help of blockchain technology it has been possible to maintain a certain degree of transparency in this realm. Needless to mention that people hope for a greater degree of transparency in the days to come.
4) Trading: when we are engaging ourselves with something as broad as trading, we have to keep in mind that trading requires a proper amount of data regarding the transactions which are being made. There can be no competition to blockchain technology in this regard. With the help of the blockchain technology it is now possible to build trust, and responsibly perform the act of treading without the uncalled for hassles. Furthermore, it has turned out to be particularly helpful for the post pandemic world which clearly does not believe in fleeting data any longer.
5) Public health: we would also like to bring to your notice that we are living in a world which has been affected by the many waves of the COVID-19 pandemic. At this moment, it is only natural to prioritise the health of the general people, and sufficiently storing data regarding issues such as medicines, vaccinations, and the number of people which gets affected on a regular basis. Blockchain makes it possible for people to keep a count regarding the same, and serve the public even better in the days to come.
In this blog, we together tried to take a deep look at the different ways in which blockchain technology can be used other than the conventional financial way. We hope that this will give you a fair share idea regarding this topic, and you will be able to grasp its dynamic nature.