What is the use of blockchain

What is the use of blockchain

Blockchain application originates from BTC, which is also one of the successful implementations of blockchain application so far. In addition, blockchain applications have also been successfully practiced in the fields of finance, supply chain, Internet of Things, intellectual property protection, real estate, luxury goods and its mine box food and drug traceability. However, on the whole, blockchain applications are still at the stage of exploration and experimentation, and some applications are even just imagined, and there is still a long way to go before they become popular and mature.

Social application field. One of the bigger challenges brought by the network era is identity security. Blockchain applications have long proven their potential to transform online identity management methods. The authentication step in the blockchain network members' computers is performed separately and therefore brings a high level of security. Blockchain can be used to help maintain member profiles to ensure system processes are functioning properly, for secure and efficient transfer of user data across platforms and systems, and to maintain and preserve records such as real estate ownership and notary matters.

Financial applications. Blockchain applications are suffering from the attention of the financial community, as it is ideal for reducing costs and simplifying the manipulation of everything from payments, asset transactions, securities issuance to clearing and settlement due to its tamper-proof, distributed, and cannot become characteristics. In September 2018, the Shenzhen Institute of Digital Currency of the People's Bank of China built a blockchain platform for trade finance. Currently, the domestic digital currency research and development is steadily progressing, with priority given to internal closed pilot testing in Shenzhen, Suzhou, Xiongan New Area and Chengdu to gradually improve and optimize the role.

Insurance application field. At present, the application of blockchain application in domestic insurance industry is mostly at the stage of technical verification, mainly in the following categories: the first category is to apply blockchain application to complete the contract of aviation delay insurance and unemployment insurance in accordance with the established standards under the situation of data scattering in multiple points; the second category is to apply blockchain application to improve the efficiency transparency of sale and purchase and settlement in the transaction summary and settlement ofantminer s19 pro alibaba reinsurance and together with insurance marketing; the third category is The third category is to use blockchain traceability to track the production and growth process of products, such as tracking the farming process of agricultural products or the production and flow process of valuable goods.

Content distribution application field. Currently, in many fields, profits are in the hands of content hosting companies rather than content creators, such as the film and music industry, where actors and composers are paid handsomely for their talent, but gtx 1080 ethereum hashrateit is the distributors who receive the most. Blockchain can dramatically change this unbalanced situation, as audiences rely on blockchain applications to give their money point-to-point directly to their favorite content providers.

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