Bitcoin is on everyone’s lips now and if last year some people knew about it, but not like every second as now. And if not all, then most people know that Bitcoin is built on the blockchain, this is actually all its charm. So, I guess it’s curious not only for me to know where else is blockchain used in examples in the real world.
Why Blockchain is needed? Blockchain applications can create more transparency and fairness, saving businesses time and money.
What is smart contracts
It’s like regular contracts just except the rules of the contract are enforced only in real-time on a blockchain. No need any middleman. This saves time and money and also ensuring compliance from everyone involved.
According to recent researches blockchain can save the largest banks $8-$12 billion a year. Transfer apps are not just getting popular, it’s exploding in popularity today. Blockchain is very popular in Finance for the money and time it can save financial companies of all sizes. How exactly to save: by eliminating bureaucratic red tape, making ledger systems real-time and reducing third-party fees.
1. GAMING – OPSKINS – California, USA
Hard to believe that people buy it 😀 but oh well, sure when gamers looking to buy rare skins and accessories they use Bitcoin as a method of payment at the OPSkins online marketplace. Wow – “OPSkins processes more than two million virtual transactions a week”. So how exactly it works: if you are a seller, you get your payment in BTC and or you can keep it there, on OPSkins and use it or exchange on feat.
2. FINTECH – CIRCLE – Boston, Massachusetts
While you didn’t believe in crypto, somewhere an exchanging platform oversees more than $2 billion a month in cryptocurrency. Circle’s investment and money transfer platform currently features seven different cryptocurrencies, including Bitcoin, Monero and Zcash.
3. REAL ESTATE – PROPY – Palo Alto, California
Propy is a global real estate marketplace with a decentralized title registry system. The online marketplace uses blockchain to make title issuance instantaneous and even offers properties that can be purchased using cryptocurrency ☝🏻.
4. MEDICINE – BURSTIQ – Location: Denver, Colorado
BurstIQ’s it helps doctors and patients securely exchange sensitive medical information. The smart contracts establish the parameters of what data can be shared and shows details of personalized health plans for each patient. Blockchain is really handy in case of big data.
5. MUSIC – MEDIACHAIN – Location: New York, New York
Mediachain uses smart contracts to get musicians the money they deserve. By entering into a decentralized, transparent contract, artists can agree to higher royalties and actually get paid in full and on time.
6. INTERNET OF THINGS USE CASES -XAGE SECURITY – Palo Alto, California
No doubts IoT the means the internet if things is the next boom in blockchain applications. It already has millions of applications, but also many safety concerns, this increase means better chances for hackers to steal your data. That’s why blockchain-infused IoT adds a higher level of security to prevent data breaches by utilizing transparency and virtual incorruptibility of the technology to keep things “smart.” Xage is the world’s 1st blockchain-enabled cybersecurity platform for IoT company. The technology manages billions of devices at once and can even self-diagnose and heal possible breaches.
7. ILLINOIS BLOCKCHAIN INITIATIVE – Springfield, Illinois
More than 16 million Americans complained of identity fraud and theft in 2019 alone, with an identity being stolen every two seconds. If we will seep our SSNs, birth certificates, and other sensitive information on a decentralized blockchain ledger, the government could expect a drastic drop in identity theft claims. For examp0le, Illinois Blockchain Initiative uses a distributed blockchain ledger to enhance the security of birth certificates, death certificates, voter registration cards, social security numbers and much more.
8. GOVERMENT – CIVIC – Palo Alto, California
Civic gives individuals insights into who has their information. The company’s users enter into smart contracts, where they decide who can share their personal information and how much. If the contract is broken or an unauthorized source tries to access private data, the individual is immediately alerted. How cool, isn’t it? 😀