Blockchain is the newest mathematical structure for storing data that is thundering all over the world. However, its use is limited only by the height of the flight of fancy. Today, many companies and even governments are striving to introduce it into various areas of life and business, for example, to avoid paper documentation, improve data reliability, optimize logistics, improve the safety of food products, etc.
There are many examples of success. Let’s consider some of them.
- Abra makes transfers of currencies based on the blockchain, including the well-known bitcoin, possible. You can store money in a wallet on the site or send it to anyone without even having a bank account. And you don’t have to pay interest on bank transactions.
- Ujo Music promises to reshape the entire music industry: solve the problem with streaming, create a list of all artists, verify their rights to the created intellectual property, and also, thanks to smart contracts between musicians and recording studios, make the business transparent.
- The Estonian project Guardtime introduces blockchain technology to ensure industrial security.
- Provenance’s goal is to use technology to ensure the quality, documentation and traceability of every detail of the final product.
- The Active Citizen project aims to create a better future: it allows users to discuss important social issues in Moscow, as well as vote and track voting in real time.
- The Ubitquity platform allows you to obtain information about real estate that agents or owners might wish to withhold. They free the market from third parties and users from additional costs.
- OpenBazaar creates a paradise for all players in the online commerce market — it connects sellers and buyers directly and uses smart contracts to reduce purchase costs and increase transaction security.
- S7 Airlines and Alfa-Bank have created a blockchain-based service that allows them to exchange data and make payments in less than a minute.
- Augur’s blockchain-based prediction market only allows betting on sports and stocks for now, but plans to expand this list with elections, natural disasters and more in the future.
- Decentralized — and therefore hack-proof — Storj cloud storage offers the ability to store information more securely for less money. A feature of the platform is that it allows you to rent additional electronic space, which, in fact, opens up new horizons for the user in the blockchain market.
In general, blockchain is a very promising branch of IT development. The technology not only allows you to build a secure, reliable and transparent system, but also, constantly evolving, is able to offer more and more new features that can be adapted to the needs of your business.